Accounting basics

accounting basics and rules of accounting

Proper financial planning is key to the success of every business. In today’s business world, accuracy is more important than ever. Accountants do much more than untangle messes at tax time.

Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions.

They help companies and organizations to meet the requirements and standards set by the government and by their industries. Accredited accountants are always needed to keep individuals’ and businesses’ financial affairs in flawless order.

Accounting is the process of recording and summarising financial information in a useful way. It is the process of systematically recording, measuring, and communicating information about financial transactions. In this app, you will able to learn Accounting Basics.

Accounting or accountancy is the measurement, processing and communication of financial information about economic entities such as businesses and corporations. Accounting can be divided into several fields including financial accounting, management accounting, external auditing, and tax accounting.

Accounting Basics information section contains all basic information about Accounting, Balance Sheet, Bookkeeping, Profit & Loss, etc.