Items On A Balance Sheet

Posted by Ana Orwel on Monday, May 11, 2009

Balance sheet and items on a balance sheet provide a reflection of the financial status of a company on a given date giving a summary of the company’s assets, liabilities and equity.
Balance sheet is generally published [...]

Posting Journal Entries Tutorial

Posted by Ana Orwel on

Posting journal entries tutorial teaches you two things, i.e.:
1. how to record business transactions in the general journal, and
2. how to post those entries into the general ledger.
General journal or the book of original entry is [...]

What Is The Accounting Equation?

Posted by Ana Orwel on Tuesday, April 28, 2009

What is the accounting equation? Accounting equation is regarded as the fundamental on which the entire accounting double entry system of accounting is based.
The equation which is accepted all over the world is:
Assets= Liabilities + Shareholder’s [...]

Purpose of The Accounting Equation

Posted by Ana Orwel on

The final book for checking all the accounting records are done correctly or not is the Balance Sheet. It has two sides the assets and the liabilities. If these two sides of the Balance Sheet tally [...]

Free Accounting Help

Posted by Ana Orwel on

Bookkeeping is one of the most time consuming jobs and it is really tough to do that in a very systematic order. But there is accounting help in the form of online accounting where two components [...]

Fixed Assets Gain On Trade In

Posted by Ana Orwel on

Before explaining what is fixed assets gain on trade in, let us understand that irrespective of nature and type of business, there are two types of assets:

Current Assets and
Fixed Assets.

Current assets are those assets which can [...]

Importance Of Accounting

Posted by Ana Orwel on Tuesday, March 31, 2009

What is the importantce of accounting? Accounting is often a neglected part of small business, but one should know that without a proper accounting system a business cannot run smoothly or even grow.
The data and the [...]

Subscription Income & Accounting In Non-Profit Organization

Posted by Ana Orwel on Thursday, March 26, 2009

Subscription income & accounting is different in non-profit organization. Still it is not only the companies which need to maintain proper books of accounts, but the non profit seeking organisations also have to maintain proper books.
The [...]

Debits And Credits Accounting

Posted by Ana Orwel on Monday, March 23, 2009

The basic concept that you need to understand before you actually start the accounting process is the debits and credits accounting. Most of the countries around the world follow the Golden Rule for accounting.
In this method [...]

Debits and Credits Accounting Worksheet

Posted by Ana Orwel on

Accounting is all about debiting and crediting the different transactions which take place in the business everyday.
An ideal debits and credits accounting worksheet is the one which has both the debit as well as the credit [...]