The general ledger is a company’s main book of accounts, while the subsidiary ledger is a subaccount of a general ledger account that provides details for one of those line items. Subledgers and general ledgers have a dependent relationship, but the difference between them lies in the way they are used. All businesses must maintain […]
General counsels oversee legal departments in large organizations, requiring a law degree and experience in commercial or corporate law. Strong leadership skills are necessary to protect the organization’s interests and ensure compliance with government regulations. Associations and forums provide networking opportunities for general counsels. Many large organizations, educational institutions, and government agencies have an in-house […]
A general foreman oversees construction projects from start to finish, requiring several years of experience in the field, a high school education, and management experience. The role requires leadership skills, construction knowledge, and versatility to coordinate different workers and tasks. Opportunities may arise in large facilities hosting major events. A general supervisor may also be […]
A general lien is a creditor’s right to access all of a debtor’s assets as security for repayment of loans. It differs from a vehicle lien as any collateral can be collected to settle the debt. Businesses use it to secure short-term financing for non-essential assets. Sometimes referred to as a lien on all assets, […]
General George Patton failed math in his freshman year at West Point but excelled after studying through the summer. He became a top military commander in WWII and helped liberate Germany. He was also skilled in fencing and placed fifth in the pentathlon at the 1912 Stockholm Summer Olympics. He was awarded the Purple Heart […]
A general practice clinic provides primary care, including regular check-ups, treatment for acute illnesses, and coordination of specialist services. They often have non-medical providers and diagnostic facilities. Patients who regularly visit a general practitioner are often in better health. General practice clinics are open late and on weekends and provide an alternative to expensive emergency […]
A certified general accountant is a trained and certified professional who can perform a range of tasks related to business analysis and managing financial matters. They review and analyze a company’s financial information, make plans to resolve any issues, and ensure that a company’s financial strategies are properly implemented. They can work in a variety […]
The idiom “generally” means “usually” or “all things considered” with few exceptions. It likely originated from nautical terms “by” and “large” describing sailing into or with the wind. Its usage remains consistent and describes something that happens most of the time. Misinterpretations include using it to mean “sometimes” or that something almost happened. The phrase […]
General ledger reconciliation ensures accurate financial records. It involves comparing records and correcting discrepancies. Checks and balances prevent fraud. Cash reconciliation and trial balance are important elements. Reconciliation should occur frequently, and errors should be recorded separately. General ledger reconciliation is a critical step in ensuring that an organization’s financial activities have been properly recorded, […]
Bookkeeping records business transactions in a company’s financial books. Traditional manual methods involve handwritten journal entries, while electronic software has different posting methods. Accurate transactions are crucial to accounting systems, and internal controls are necessary for large organizations. Bookkeeping is the accounting activity in which accountants record business transactions in a company’s financial books. In […]
To become a general office employee, a high school diploma or GED is required. A certificate in administrative training and proficiency in typing, filing, and basic computer software is beneficial. Temp work and communication skills can help in advancing to an administrative position. Politeness, assertiveness, and dressing appropriately are important during interviews. If you want […]
General order refers to the process of importing goods into the US that are not immediately released through customs, and may incur fines until the issue is resolved. This can be due to incomplete documentation or suspicion of irregularities. A general order is related to the goods importation process. The term is commonly used in […]
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