Accounting Notes: Learn Basics

Accounting Notes helps you learn accounting basics step by step: debit and credit rules, journal entries, the trial balance, financial statements and key accounting formulas.

Clear study notes, worked examples and practice questions with answers, made for students preparing for an accounting exam.

This is a study app, not bookkeeping software. It teaches you how accounting works, from the accounting equation to financial ratios, in plain language.

What you will learn

Study Guide (start here)

• The Accounting Cycle, from source documents to closing entries

• Debit and Credit Rules, with the "DEAD CLIC" memory aid

• Journal Entries with Worked Examples

• The Trial Balance

• Preparing the Financial Statements: income statement, statement of owner's equity and balance sheet, all from one worked example

• Formula Cheat Sheet: liquidity, activity, profitability, return and leverage ratios, depreciation methods and break-even, each with a worked result

• Practice Questions with Answers (tap to reveal)

• Exam Tips and Common Mistakes

• Glossary of Key Terms with a quick filter

Accounting Basics

• The Accounting Equation (assets = liabilities + equity)

• The Balance Sheet

• Double Entry Bookkeeping

• Profit and Loss Account

• Reporting Period and Conversion Period

Formulas and Ratios

• Operating cycle, liquidity, profitability, activity, financial leverage, shareholder and return ratios

Terms and Concepts

• Financial statements: balance sheet, income statement, cash flow statement and stockholders' equity

• Financial ratios and accounting principles

• Bookkeeping, debits and credits

• Adjusting entries and bank reconciliation

• Petty cash, accounts receivable and bad debts expense, accounts payable

• Inventory and cost of goods sold

• Depreciation

• Cost behavior and break-even point

• Payroll accounting and standard costing

Features

• Short, clear accounting notes you can read in a few minutes

• Worked examples you can follow line by line

• 16 clear diagrams of key concepts, such as the accounting cycle and the accounting equation

• Practice questions with answers to test yourself before an exam

• Search every topic at once

• Previous and Next buttons to work through a section in order

• Clean design with dark mode

• All notes are built into the app, so you can study offline, with no account needed

• Available in 8 languages: English, Español, Português, Français, Deutsch, العربية, हिन्दी and Bahasa Indonesia

Who it is for

• Students in school, college and university accounting and accountancy courses

• Commerce and business students who need a quick revision of accounting basics

• Beginners who want to learn accounting and understand financial statements

• Anyone who wants a refresher on debit and credit, journal entries or financial ratios

Accounting Notes is an independent study aid. It is not affiliated with any exam board, university or accounting body, and it does not replace your course textbook or professional advice.