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What is Accounting?
An introduction to accounting lesson. Learn
accounting basics such as GAAP, and general accounting principles.
Why do we Need
Accounting?
Accounting is the backbone
of the business financial
world.
Basic Accounting
Terminology 101
Learn basic accounting terminology and concepts.
The Cornerstone of Bookkeeping: Your Accounting Ledgers
Learn about bookkeeping and the accounting ledgers.
What are Debits and
Credits?
Understanding accounting debits and credits.
What is a Profit and Loss
Report?
Learn about the profit and loss report or income
statement.
Fundamental Concepts of Accounting
Generally Accepted Accounting Principles (GAAP).
The Basic
Accounting Equation
Accounting is built upon the fundamental accounting
equation, which includes assets, liabilities, and owners equity.
What Pieces of Information are needed for Bookkeeping?
If you don't have an accounting system, then what is the
information you need for bookkeeping?
Small Business
Accounting: Determine, Setup, and Use the Accounts
Learn what basic accounts your small business needs. Once you have learned what accounts you need for your
business, how do you setup this information?
What is Depreciation
Expense?
What is
accounting depreciation
expense?
History of Accounting
So where
did accounting come from in
the first place? Here
is a brief history of
accounting.
Your Accounting Balance
Sheet
The
balance sheet is an
important tool used to help
judge the health of a
business.
What is Owners Equity?
What is
owners equity?
Understanding Accounting for
your Business
Understanding accounting is
important for your business
success.
Fundamentals of Cost
Accounting
Learn
about cost accounting.
Your Accounting Statement of
Cash Flows
Learn
about the statement of cash
flows.
Understanding the Accounts Payable Function
Learn
about the accounts payable
function of accounting.
What is a
Liability?
What is
an accounting liability?
Understanding Accounts Receivable
Learn
about accounts receivable.
What is GAAP?
Learn
about the concept of GAAP,
or Generally Accepted
Accounting Principles.
Record Keeping and the Accounting Process
Introduction to record keeping and the accounting
process.
Bank Accounts and Accounting: A General Overview
An overview of bank accounts and accounting for bank transactions.
Expense Accounts for the Service Industry
Learn about business expense accounts for the service industry.
Expense Accounts for the Manufacturing Industry
Learn about expense accounts for the manufacturing industry.
The Accounting Cycle and the Fiscal Year
Learn about the accounting cycle.
Introduction to Assets, Liabilities, and Equity
An introduction to assets, liabilities, and equity.
Equity, the Difference in
Assets and Liabilities
An
introduction to equity.
Overview of Accounting
Financial Statements
An
introduction and overview of
the financial statements.
Accounting Relationship:
Income Statement and Balance
Sheet
Learn how
the income statement and
balance sheet relate.
What is an Accounting
System?
Accounting systems are the
main highway for successful
business operations.
What is an Asset?
An
introduction to assets.
Accrual Based Accounting
Accrual
based accounting refers to
the method used to report
earnings and income over the
fiscal accounting reporting
period.
Trial Balance and Financial Statement Preparation
The last two steps in the accounting process are preparing a trial balance and then preparing the balance sheet and income statement.
Internal Controls of an
Accounting System
The three
key divisions within the
accounting system, of
analysis, design, and
implementation must be
complemented with a system
of control.
Should You Care About
Accounting?
Why
learning about accounting is
important.
Cash Based Accounting
Cash
based accounting refers to
the method used to report
earnings and income over the
fiscal accounting reporting
period.
Accounting for Small
Business
Information on accounting
for small businesses.
How Will Accounting Affect
Your Life?
How
accounting affects you.
Accrual Accounting and
Adjusting Entries
Businesses go through a series of financial transactions that occur on a continuous basis within an accounting period.
The Internal Revenue Service
It was
not until the turn of the
century that the Internal
Revenue Service and the
profession of accounting
paired together.
Code of Ethics for
Accountants
Ethics,
principles and their
application by the
Accounting profession.
Calculating Depreciation
Learn about depreciation,
and the various methods to
calculate it.
The Computer and Accounting
The
computer has sparked a
revolution in daily
accounting practices, that
can be compared to the
invention of the automobile.
The New Revolution:
Information Accounting
We will
likely see tremendous
changes in the ways that
information and accounting
are tied to one another.
Accrued Expense
Accrued
expense refers to an expense
that has been incurred but
not yet paid.
Accrued Revenue
Learn
about accrued revenue.
Deferred Expense
Deferred
expense refers to an item
that will initially be
recorded as an asset but is
expected to become an
expense.
Deferred Revenue
Deferred
revenue refers to an item
that will initially be
recorded as a liability, but
is expected to become an
asset.
What is Amortization?
Amortization is defined as
the way to reduce debt by
installments.
Rules of Debits and Credits
Every
transaction in accounting is
either a debit or a credit.
Cash Payments
Generally, all businesses
accept cash payments, and
keep cash ledgers to record
all the cash transactions.
Cash Received
Of all
the transactions that take
place, cash transactions are
the hardest to record and
track, simply because the
paper trail generated by a
purely cash transaction is
virtually non-existent.
What do Ratios Have to do
with Accounting?
A look at
some of the more common
ratios, and the business
application and meaning.
Financial Audits - Basic Tests
Financial audits are intended to provide some assurance to the public that a company's financial statements are presented fairly and accurately.
Reading an Annual Report
Publicly traded companies are required by law to publish an annual report to their shareholders.
Understanding Basic Business Accounting
If you ever wondered what the whole idea of business accounting was all about (but were afraid to ask) now is the time to learn.
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