A general ledger is a foundational accounting system that plays a crucial role in the storage and organization of financial data. The data enclosed in a general ledger is them used to formulate the financial statements of a firm. These statements will then be saved to an individual sub-ledger account as will have been defined by the chart of accounts of the company. The information gleaned from the chart accounts is then used to summarize o closed out to the general ledger to generate a trial balance that is then used to report the account balance of each ledger.
Yes, the economic value added approach that you have alluded to will be beneficial to the organization. Remember, the CLC entails a community hospital that work to make profits out of the services that they offer much as they pursue efficiency and customer satisfaction through reduction of costs. However, the application of the EVA will indicate just how profitable the CLC proposal is going to be for the organization, which will be a reflection of the performance of the management, which established the need for the project.