Accounting Made Simple


  • Accounting is a system to track the income, expenses, assets, and debts of a business
  • A business's accounting records tell the true story of a business -- you can learn practically anything about a business

It's the humble little journal entry (with debits and credits) based on Accounting Equation + Double Entry that provides info based on which decisions for billions of dollars are made everyday. This with the guidelines from GAAP makes the journal entries (from which financial statements are created) meaningful so that the financial statements of 2 companies can be compared

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  • about 3 years ago by vince