Primary navigation:

QFINANCE Quick Links
QFINANCE Topics
QFINANCE Reference
Add the QFINANCE search widget to your website

Home > QFINANCE Dictionary > Definition of general ledger

Definition of

general ledger

Accounting

book listing firm's financial transactions a book that lists all of the financial transactions of a company

Recommended Further Reading (Term count)
  • How to Implement a Standard Chart of Accounts Effectively
    by Aziz Tayyebi
    A chart of accounts (COA) is essentially a set of codes for the consistent classification of financial information. This allows for the systematic production of decision-useful accounting information for management, such as budgeting, monitoring, and management reporting. Similarly, a standard COA helps to ensure comparability in external financial reporting.The COA facilitates the recording of all transactions, which are filtered into a unique...
  • How Internal Auditing Can Help with a Company’s Fraud Issues
    by Gail Harden
    Regulatory oversight is increasing, as are penalties. A passive attitude in an organization toward oversight and the topic of fraud, antifraud programs, and controls would be a strong indicator of a significant deficiency in its system of internal controls.Economic factors can increase the occurrence of fraudulent practices. When the economy is in a downturn the risk of fraud increases due to personal financial pressures, the stagnation of...
  • Payment Factories: How to Streamline Financial Flows
    by Chris Skinner
    During the past few years, banks and their clients have been consolidating their payments infrastructures into single, global platforms. Payment consolidation helps to overcome the issues of fragmentation between systems that have been set up over the years. For large international banks and businesses in particular, having duplicate systems in different geographies just does not make sense. As a result, international banks and companies have...
  • Profitability Analysis Using Activity-Based Costing
    by Priscilla Wisner
    Cost allocation in firms can provide misleading information about the profitability of products, product lines, customers, and markets. Traditional cost allocation practices allocate all manufacturing overhead costs using a single driver such as direct labor hours, direct labor dollars, or machine hours. Sales-related costs are typically ignored. While technically accurate, in most complex organizations a single overhead cost driver is not...

Definitions of ’general ledger’ and meaning of ’general ledger’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’general ledger’ and other financial terms with our online QFINANCE Financial Dictionary.

Back to top