General ledger

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General ledger

Accounting records that show all the financial statement accounts of a business.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

General Ledger

A record of all of a company's financial statements. It contains two columns: one for credits and one for debits. See also: Balance sheet.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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As a test, I created two Excel files--one containing two and another containing 12 monthly general ledgers with 1 million records each--and then used the Excel Data Model to pivot them together on my $1,149 Dell XPS 8900 Signature Edition, Intel Core i7-6700 CPU 4.00 GHz computer with 16 GBs of RAM and eight microprocessors.
Referring to Item (2) of paragraph 4 for determining what is information "normally contained in books of original entry and general ledger or subsidiary ledgers," it would appear a good argument could be made for not considering such schedules as books of original entry and thus not providing them.
These are: (1) general lack of expertise in the feeder systems communities in defining and interpreting applicable federal financial management systems requirements; (2) implementation of "transaction-driven" general ledger requirements; (3) providing summarized data for like financial transactions versus feeding detailed data for each individual transaction; and (4) handing deficiencies in mixed systems in which DFAS controls financial functions whereas the military services or Defense Agencies control non-financial functions.
It is considerably weaker in the secondary functions such as editing, adjustments, NSFS, and posting to general ledger
"The initial goal of XBRL is to provide an XML-based framework that the global business information supply chain will use to create, exchange, and analyze financial reporting information including, but not limited to, regulatory filings such as annual and quarterly financial statements, general ledger information, and audit schedules," according to, the international group developing the specification.
* TO MAXIMIZE ITS TAX BENEFITS, A COMPANY MUST adjust its chart of accounts and general ledgers at each reporting location.
For example, we still had more than 30 separate legacy databases (those original general ledgers) and a system riddled with multiple charts of accounts and other inconsistent data taxonomies (rules for classifying and naming information).
Nonetheless, at the end of the 1994 fiscal year, only 34% of the agencies' systems had fully implemented the government's standard general ledger, only 63% had met their agency standards for a computing environment and 55% of the system applications needed to be replaced or upgraded.
Exemption certificates were the type of record most likely to be requested by auditors, followed by billing records, general ledgers, supplier invoices, purchase orders, inventory records, tax return copies and fixed asset records.
Activity based costing f costs and expenses found "below the line" of the general ledger, including items such as store and warehouse operations costs, the cost of advertising products and/or services, and financing the inventory investment.

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