Lesson
Accounting is the science of recording financial transactions and preparing accounting reports.
you have first have a document for any commercial transaction, you use this document to enter the transaction into journal where you use what is called double entry ( every transaction have an effect on two accounts at least).
then, you post the values from journal to ledger where you have what is called "T" account to every account.after posting transactions to ledger you have to calculate balance which you will record it in the "Trial Balance" which is a summary to all accounts.the trial balance have three columns, the accounts names,debit and credit
you have to sum debit column and credit column and they have to be equal.
then you can make final statements like Income statement and Balance sheet
the Balance sheet is the last stage in preparing financial statements.
Comments
United States |
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Iran, Islamic Republic Of |
i studied accounting at university and i like to have accountant friend and i also friends who likes trade and business |
Malaysia |
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Jordan |
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Malaysia |
Thanks A cash flow statement is a a statement detailing the Income and Expenditures of a business on a daily, weekly and monthly basis. It will show whether a business has sufficient cash on hand to meet expenditures .
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India |
i have a question to samji.what does cash flow stement is used for? |
Malaysia |
1) the cash flow statement , 2)the profit and loss account and 3)the balance sheet … |
Malaysia |
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China |
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Pakistan |
accounting are used in other sector. tell me
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Pakistan |
please send the email i help you. |
China |
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China |
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Bahrain |
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