Definition Of Accounting

Posted by Ana Orwel on Monday, March 16, 2009

What is the definition of accounting? Accounting is the process of a well defined structure of recording, reporting, summarizing and analysis of the financial transactions pertaining to a business. There are many types aof ccounting methods [...]

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Double Entry Accounting Model

Posted by Ana Orwel on

Double entry accounting model is the model which is universally followed in order to bring transparency in the books of accounts. The basic concept is to record an equal and opposite entry for all the transactions which [...]

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Basic Accounting Procedure

Posted by Ana Orwel on

It is imperative to have a concrete basic accounting procedure in place to get a clear picture of a company’s financial status. The four procedure of basic accounting are as follows:
a) Take in to account all [...]

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How Would You Test For The Equality Of Debits And Credits?

Posted by Ana Orwel on Tuesday, February 24, 2009

In almost all the countries around the world the double entry system of bookkeeping is followed. In this system the rule of accounting is to record a transaction which has an equal and opposite entry for [...]

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Accounting Definitions

Posted by Ana Orwel on

Accounting is the process of recording, reporting and analyzing all the financial data pertaining to a business. There are a lot of terms that are used in accounting called accounting definitions and one has to understand them [...]

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Business Accounting Syllibus (Syllabus)

Posted by Ana Orwel on Friday, February 20, 2009

Business accounting syllibus (syllabus) which is followed all around the world has certain basic things in common. In all the cases the syllabus which is followed starts with the basic concepts of accounting. It is basically the bookkeeping part which is taught at the initial level.
After the basic concepts are civered, then it comes the [...]

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Definition of Revenue in Accounting Terms

Posted by Ana Orwel on

Revenue is a very important accounting term. Definition of revenue on accounting terms describes revenue as amount of money for goods sold or services provided for which selling entity has a legal right. In case accrrual accounting principle si applied, revenue is accrued in the books of the business, whihc means that goods were sold [...]

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Bookkeeping Tutorials

Posted by Ana Orwel on Thursday, February 19, 2009

Bookkeeping is one of the most important aspects of managing the finances of a business. If there are no proper methods to account for the expenses and the revenues of a business then it can cause a real problem for the business.
Bookkeeping tutorials can help small business owners to wriggle out of the problem as [...]

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Basic Financial Accounting System

Posted by Ana Orwel on

There must be a very reliable system in a business or a non profit organization to improve the accountability. The above requirement is fulfilled by the basic financial accounting of a company’s daily operations.
The basic accounting system takes into account all the revenues and the expenses due to the operating activities of a company. One [...]

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Basic Accounting Equation

Posted by Ana Orwel on

The basic accounting equation which is accepted universally is:
Assets= Liabilities + Shareholder’s or Owner’s Equity.
This equation explains that assets are financed either by burrowing money from someone or by through the funds which the shareholder’s have with them. At the end of all the accounting records the Balance Sheet is prepared to show the financial [...]

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This is a blog of www.Bookkeeping-Financial-Accounting-Resources.com. Free tips, advice and resources on accounting basics. To get more comprehensive accounting and bookkeeping knowledge please visit our main Online Accounting Course.

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