Event
Event is the happening of any thing but in accounting we discuss monetary events
Monetary Events
If the financial position of a business is change due to the happening of event that Event is called
Monetary Event
The Voucher
• Voucher is a document in a specific format that records the details of a transaction.
• It is accompanied by the evidence of transaction
The General Journal
• The Journal used to be a chronological (day-to-day) record of business transactions. All vouchers
were first recorded in books.
• It was also called the Book of Original Entry or Day Book.
• But in present day accounting and especially with the introduction of computers for accounting, this
book is not in use any more.
• We will, therefore, not study the use of Journal in detail but we should know that it is a book that
keeps day-to-day record of transactions
