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Understanding Basics

Unlocking the Fundamentals of Knowledge

Understanding Basics

Unlocking the Fundamentals of Knowledge

  • Accounting
  • Finance
  • Economics
  • Management
  • Audit
  • Statistics
  • Computers
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Subjects

  • Accounting
  • Finance
  • Economics
  • Management
  • Audit
  • Statistics
  • Computers
2. Accounting Introduction

1. Accounting Introduction

Accounting is the method of documenting, gathering, and analysing financial transactions in order to produce...

2. Accounting Introduction

2. Business Transaction

A business transaction is a monetary acitivity that involves the exchange of goods, services, or...

2. Accounting Introduction

3. Accounting Equation

The accounting equation is cornerstone for double-entry bookkeeping. It states that resources (also known as...

2. Accounting Introduction

4. Expanded Accounting Equation

The fundamental accounting equation is extended to incorporate new components like owner’s capital, common shares,...

2. Accounting Introduction

5. Asset

An asset is anything that has value and can be converted into cash. The main...

2. Accounting Introduction

6. Equity

Equity is defined as “the residual interest in an entity’s assets that remains after liabilities...

2. Accounting Introduction

7. Credit & Debit

In accounting, credit and debit refer to the two sides of transactions. Transactions are either...

2. Accounting Introduction

9. Accounting Journals

Introduction In accounting a journal is a book that is used for noting all the...

2. Accounting Introduction

11. T-Account

A T-account is a graphical representation of a ledger account that looks like a “T”....

2. Accounting Introduction

12. Charts of Accounts

A chart of accounts is a listing of all the account titles that appear in...

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Understanding Basics

Unlocking the Fundamentals of Knowledge

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