Journal Vouchers Practice Exam

About Journal Vouchers
A journal voucher is a document on which is stored the essential information about an accounting transaction. This voucher contains the following information: Unique identifying number. Transaction date. Transaction description.

Every transaction requires some sort of physical backup, which forms a base for it. The physical backup is nothing but the documentary evidence known as a journal voucher.

It contains the information with the actual invoice as evidence. The third-party gives the actual invoice. Voucher is taken as the base for recording the financial transaction into the books of accounts of the organization.

Auditors generally scrutinize the voucher as a part of their audit procedures.

Journal vouchers (also known as JVs) are used for transactions that do not relate to any transaction of material, cash, bank, and other days to day business transactions. It means JVs are used for a transaction such as depreciation, transfer entries, adjusting entries, provisions, accrual entries, purchase & sale of fixed assets on credit, write off balances no more required, etc.

These vouchers are easily traceable in any accounting system. Since these transactions are out of routine transactions, auditors vouch over these at priority.

Why is Journal Vouchers important?
Journal voucher is important document because it: Keeps the systematic record of financial transactions of government offices. Provides information of debit and credit aspects of each financial transactions. Acts as an evidence in the future.

•    The journal is a memorandum or first record in the process of recording business transactions that occurred before posting to the ledger.
•    The journal records all business transactions according to the date of the Journal showing the chronological records of all business transactions.
•    The journal can reduce the error and omission of transaction records or incomplete transaction records. The journal functions as a control system.

Who should take the Journal Vouchers Exam?
•    Accounting or Finance professionals
•    Business owners or Entrepreneurs
•    Anyone who wants to assess their accounting skills
•    Accounting or Finance managers and senior executives
•    Accounting or Finance consultants
•    Anyone interested in the management of Accounting or Finance

Knowledge and Skills required for the Journal Vouchers Practice Exam

Professionals with logical bent of mind and good communication skills rise rapidly in their career

Journal Vouchers Practice Exam Objectives

Journal Vouchers exam focuses on assessing your skills and knowledge in financial accounting and journal processing and posting.

Journal Vouchers Practice Exam Pre-requisite

Knowledge  of financial accounting basics is prerequisite for the Journal Vouchers exam.

Journal Vouchers Certification Course Outline
1. Basic Accounting Principles and Framework
1.1. Learning to Understand Accounting
1.2. Assumptions, Principles, and Conventions of Accounting
1.3. Global Standards for Accounting

2. The Accounting Equation and Financial Statements
2.1. The Accounting Equation
2.2. Double-entry, Debits, and Credits
2.3. Understanding Financial Statements

3. The Accounting Cycle and Accrual Accounting
3.1. The Accounting Cycle
3.2. Chart of Accounts
3.3. Cash and Accrual Accounting

4. Accounting Transactions and Books of Account
4.1. General Journals and Special Journals
4.2. General Ledgers and Subsidiary Ledgers
4.3. Posting Accounting Transactions

Exam Format and Information
Certification name – Journal Vouchers Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199