Are You Losing Money ???
Overview For Beginners
to learn
Record Keeping
To Make Informed decisions
To comply with Legal Business
To show your Business position
To Plan Business future
To Measure Business Performance
To fulfill Your Business Requirement
Legal
Business
Records
Property
Records
Correspondence
Records
Employment
Records
Transaction
Journal
LedgerTrial Balance
Financial Statement
Maintenance of records of business transactions
Calculation Of Profit Or Loss
Depiction Of Financial Position
Provide Information to the users
Understandability
Reliability
RelevanceComparability
Liability
Equity
Assets
Cash
Accounts Receivable
InventoryPrepaid expenses
Plants
Equipment
Buildings
LandOffice Supplies
Investments
Notes Payable
Long term debt
Unearned Fees
Accounts Payable
Invested Capital
Retained EarningsSurplus
Steps For accounting Process:
1. Identify and analyze the transaction
2. Recording Journal entries
3. Posting in the ledger
4. Prepare the unadjusted trial balance
5. Make adjusting entries
6. Prepare the adjusted trial balance
7. Prepare financial statements
8. Close the entries
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