Advantages Of Special Journal Assignment Help | Advantages Of Special Journal Homework Help


(i)    A major advantage of the special journals is that their use permits division of labor which is very necessary in a large organization. When the transactions are recorded in different books of original entry, the recording step in the accounting cycle can be divided among several persons, each of whom is responsible for particular types of transactions.

(ii)  The amount of space required for the record of same transactions is reduced. When transactions are recorded in chronological order in the general journal, a complete narration must be given. But if the transactions are classified and are recorded in a separate book, it is possible to avoid repeating much information that is same in all cases.

(iii)   The most significant advantage of using special journals instead of general journal only is perhaps, the time saving gained in posting from journals to the ledger(s). In other words, the number of postings to ledger accounts is significantly reduced.

For more help in Advantages of Special Journal please click the button below to submit your assignment: