Unit 1 - Introduction to Financial Accounting. Basic Concepts and Conventions
Basic Concepts and Conventions
Accounting principles are like the rules of the road for financial reporting. They ensure everyon...
The Accounting Equation: Keeping the Books Balanced
The accounting equation is the foundation of double-entry bookkeeping. It expresses the relations...
Key Financial Terms
Understanding Key Financial Terms Let's break down some essential financial terms that are crucia...
Golden Rules of Debit and Credit
The Golden Rules of Debit and Credit: Keeping the Accounting Equation Balanced The Golden Rules o...
Recording transactions in General Journal
The General Journal is the first place where financial transactions are formally recorded in acco...
Preparation of Ledger Accounts
What is Ledger? A Ledger records transactions from the journal and forms separate accounts for th...
Preparation of Trial Balance
Trial Balance: Checking Your Accounting Accuracy The Trial Balance is a crucial step in the accou...