Topics of this game:
- Statement of financial position or so called permanent accounts. These accounts are not closed and carryover to the next accounting period.
- Income statement or temporary capital accounts. These accounts are closed at the end of the accounting period.
- A combination of real and nominal accounts. (ex. Prepaid expenses)
- Holds temporarily certain information pending transfer to other ledger accounts.
- The general ledger account that summarizes the detailed information in a subsidiary ledger.
- It is an account that holds temporarily certain information pending for disposition.
- Has a counterpart in another book with in the entity or in another ledger or another entity.
- An account that is independent or can stand alone.
- An account that cannot stand alone and are technically neither assets, liabilities nor income and expenses.
