Definition and Purpose of Control Accounts.

Introduction to Financial Accounting II

About this course

This lecture is part of ACC 102 Introduction to Financial Accounting II in the Accounting department. The course has 30 recorded lectures across 10 series, all free to watch. Read or download the ACC 102 lecture note to study alongside the video.

More lectures in ACC 102

• Accounting as an Information System
• The Conceptual Framework for Financial Reporting
• Accounting Concepts and Conventions
• Key Accounting Concepts.
• Types of Accounting Error.
• Suspense Accounts: Definition and Purpose
• Introduction to Double Entry Principles.
• The Accounting Equation and Recording Transactions Using Double Entry.
• Trial Balance Preparation and Use.
• Fundamentals of Book of Original Entry.
• The Cash Book and Steps Involved in Recording Transactions.
• Definition and Purpose of Control Accounts.
• Introduction to the Ledger and Types of Ledger Accounts
• Posting to the Ledger and Trial Balance
• Limitation to the Ledger in Practice.