Accounting is the process of systematically recording, measuring, and communicating information about financial transactions.
At the heart of accounting is the double-entry bookkeeping method. This involves making at least two recording entries for every transaction: a debit in one account and a credit in another account. The method helps prevent errors because the sum of the debits should equal the sum of the credits. The three major financial statements produced by accounting are the income statement, the balance sheet, and the cash flow statement.
Topics Covered in this App are Listed Below
Accountancy an Overview?
What is accounting and why do we need it?
What are Assets and Liabilities in Accounting
The Accounting Equation
What is Revenue, Expense and Drawing
The Complete Accounting Equation
Basic Accounting Transactions
How to do a Journal Entry
What is Ledger & How to create One
How to calculate Depreciation (Balance Day Adjustment)
How to prepare trial balance
How to produce a Profit and Loss Statement
How to create Balance Sheet
Why monitoring Cash Flow is important for business
How to analyse financial reports to make informed decisions
MEANING AND BUSINESS ENTITY CONCEPT
Business entity concept
MONEY MEASUREMENT CONCEPT
GOING CONCERN CONCEPT
ACCOUNTING PERIOD CONCEPT
ACCOUNTING COST CONCEPT
DUAL ASPECT CONCEPT
Evolution Of Accounting
Book Keeping And Accounting
Scope And Functions Of Accounting
Groups Interested In Accounting Information
The Profession Of Accounting
Specialised Accounting Fields
Nature And Meaning Of Accounting Principles
Preparation Of Financial Statements
Basic Ideas About Income And Expense
Classification Of Items In The Balance Sheet
Classification Of Liabilities
Distinction Between Capital And Revenue Expenditure
Capital And Revenue Profits, Receipts And Losses
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