The stock market is very prone to mean reversion but less so for commodities – crude oil included. This is a quick trade that enables all traders that took that…
Therefore, a general ledger contains individual accounts in which similar transactions are recorded, whether relating to an asset, a liability, an individual, or an expense. Consider the following example where…
This data from the trial balance is then used to create the company’s financial statements, such as its balance sheet, income statement, statement of cash flows, and other financial reports.…