1. Accounting Introduction
Accounting is the method of documenting, gathering, and analysing financial transactions in order to produce...
2. Business Transaction
A business transaction is a monetary acitivity that involves the exchange of goods, services, or...
3. Accounting Equation
The accounting equation is cornerstone for double-entry bookkeeping. It states that resources (also known as...
4. Expanded Accounting Equation
The fundamental accounting equation is extended to incorporate new components like owner’s capital, common shares,...
5. Asset
An asset is anything that has value and can be converted into cash. The main...
6. Equity
Equity is defined as “the residual interest in an entity’s assets that remains after liabilities...
7. Credit & Debit
In accounting, credit and debit refer to the two sides of transactions. Transactions are either...
9. Accounting Journals
Introduction In accounting a journal is a book that is used for noting all the...
11. T-Account
A T-account is a graphical representation of a ledger account that looks like a âTâ....
12. Charts of Accounts
A chart of accounts is a listing of all the account titles that appear in...