Learning the basic accounting concepts sets you on the path to understanding the more complicated principles of the subject.
Accounting for beginners #1 / debits and credits / assets = liabilities + equity for the basics of accounting debits and credits / assets. Accounting rests on a rather small set of fundamental assumptions and principles people often refer to these fundamentals as generally accepted accounting principles.
Every business and not-for-profit entity needs a reliable bookkeeping system based on established accounting principles keep in mind that accounting is a much broader term than bookkeeping. This will give basic idea about the accounting terminologies and concepts.
What is accounting learn the basics of this essential way of recording and summarizing financial information.
This tutorial will help you understand the basics of financial accounting and its associated terminologies audience. Financial accounting basics includes the fundamentals of accounting like identifying business activities, recording transactions, and understanding debits, credits, accounts, and the double. Accounting basic concepts - learn accounting basics in simple and easy steps using this beginner's tutorial starting from basic concepts of the accounting overview, accounting process.