Journal & Ledger | Easy Guide to Basic Books of Accounts | MGT101

🚀 MGT101 | Lecture 7: Journal & Ledger | Easy Guide to Basic Books of Accounts

Master the building blocks of accounting in this essential MGT101 lecture as we break down the Journal and Ledger, the two fundamental books of accounts. Whether you're a beginner in accounting, a commerce student, or preparing for your MGT101 exams, this easy-to-follow guide will help you understand how businesses record and manage financial transactions accurately.

Learn how to record transactions, post them into ledgers, and understand the flow of financial information in a real-world business context. This is a foundational step in mastering accounting and setting yourself up for success in more advanced topics.

🔍 In this lecture, you’ll learn:
✅ What is a Journal? Purpose and structure
✅ What is a Ledger? How it's different from the Journal
✅ Step-by-step posting from Journal to Ledger
✅ Practical examples of journal entries and ledger accounts
✅ Why Journals and Ledgers are essential for financial reporting
✅ Tips to avoid common beginner mistakes in bookkeeping

✨ Why You Should Watch:

This lecture simplifies accounting by taking you through the core books of accounts with clear explanations, real examples, and visual aids. Ideal for MGT101 students, small business owners, or anyone starting in finance or business management.

Whether you’re preparing for a quiz, assignment, or just trying to build a strong foundation in accounting—this guide has you covered.

📈 Perfect for:
Commerce & business students
Accounting and finance beginners
MGT101 midterm/final term prep
Small business owners & entrepreneurs
Anyone learning bookkeeping and financial reporting

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