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General Mills
How to Prepare a General Ledger
The general ledger is a collected works of the group of accounts that supports the items shown in the major financial statements. It is built up by posting transactions recorded in the sales book, purchases book, cash book and general journals book. The general ledger can be supported by one or more supplementary ledgers that provide details for accounts in the general ledger.
The general ledger is the core of your company’s financial records. These constitute the central “books” of your system, and every transaction flows through the general ledger. These records stay as a permanent track of the history of all financial transactions since day one of the life of your company.
So, do you want to learn how to prepare a general ledger? If you are correctly recording your small business expenses and credits, the following guidance will help you to set up your general ledger sheets properly.
Step 1:
Divide your finances into five categories: assets, liabilities, owner’s equity, revenue and expenses
Step 2:
Create and maintain general ledger sheets for these five different categories.
Step 3:
Create and maintain on master general ledger sheet that includes all the information from all five general ledger sheets.
Step 4:
Record four different columns of information in each general ledger sheet and labeled them as: “Transaction Description,” “Debits,” “Credits” and “Balance.”
Step 5:
Compile your master general ledger sheet by using the balances of the other five general ledger sheets. If you find any discrepancy in balance, go back and check all general ledger sheets.
When you create and maintain your general ledger make sure you use double entry accounting method. You can do this through a computer or general ledger program. In a nutshell, all you have to do is you must have to maintain the general ledger sheet at all times thus you do not fall behind.
About the Author
This article has been provided courtesy of www.outsourcingbookkeepingservices.com. Bookkeeping is an Accounting firm division offers a wide range of quality financial accounting and bookkeeping services include account reconciliation, general ledger reconciliation, bank reconciliation, payroll processing, cash flow management, financial planning budgeting, taxation services and vat services.
What regulations from govt caused General Mills Food Corp to raise prices 13%?
Who is that gonna hurt? US THE PEOPLE!!!!
Milk is going up again as well--- is that caused by Govt as well? Do we have less cows in America like we Less ENERGY now?
Okay- so the GORE thing- to use veggies in fuel is why- Thats what caused world wide hunger and death!
It could be that the cost of energy has caused part of the price increase. Government regulations have slowed down drilling and even refinery construction. Another regulation could be the cost of healthcare to the employees. There are probably a ton of regulatory policies that the company has to comply with that adds to their costs.
But here is a thought... competition lowers prices. However, government regulations make it very difficult to start up a new small business. Hence, no competition. Hence, prices go up.
Part 1 General Mills Racial Discrimination / Hang noose hate crime act