Definition
A ledger is a book or electronic record that contains individual accounts used to record and summarize financial transactions. Ledgers categorize transactions by account type, such as assets, liabilities, equity, revenue, and expenses, and maintain a running balance for each account. Ledgers serve as the primary data source for preparing financial statements and provide a detailed account of a company's financial position and performance over time.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.