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
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01:06 AM Nov 17 2007 |
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vivivi
Poland
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Thank U for helpful lesson!!!  Are u an accountant?
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11:41 PM Nov 27 2007 |
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alshaigi
Bahrain
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Thank you Accounting is science and art and skill at the same time . I am an accountant and I Will be happy to meet accountants
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10:28 PM Dec 04 2007 |
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sunday huang
China
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wonderful lesson! I am a businessman. It is really helpful to me! and i hope i can have the chance to contact you. my msn is
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05:55 AM Dec 08 2007 |
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Eliza zhang
China
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I am interested in this lesson.I hope that you can help me .you can contact me with e-mail ,
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06:08 AM Dec 25 2007 |
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steffi004
Germany
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is that about you talk there business administration?when yes i do the same, also not really do, but in school i have one subject and i believe i do there such things….but i don´t really know if it is the same… do you have to make an accounting record?
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08:25 PM Dec 30 2007 |
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awais7
Pakistan
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please send the email i help you.
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08:28 PM Dec 30 2007 |
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awais7
Pakistan
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accounting are used in other sector. tell me
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08:30 AM Dec 31 2007 |
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Followingme
China
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I am an accountant & i think this set of lesson is very helpful on my job.Thank you so much!
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07:31 AM Aug 15 2008 |
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samjj
Malaysia
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Great staff – i am an accoutant too. keep up the good work…
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07:33 AM Aug 15 2008 |
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samjj
Malaysia
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And I have this to say – the three important statements which can help business people to see how their business are doing are :
1) the cash flow statement , 2)the profit and loss account and 3)the balance sheet …
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