Accounting Basics

Proper financial planning is a key to the success of every business. In today’s business world, accuracy is more important than ever. Accountants do much more than untangle messes at tax time.

They help companies and organizations to meet the requirements and standards set by the government and by their industries. Accredited accountants are always needed to keep individuals’ and businesses’ financial affairs in flawless order.

This App of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology.

Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions.

Accounting Basics app collections of Categories are below and provide all Topic Like,

Accounting – Overview

Golden Rules of Accounting

Objectives and Scope of Accounting

Accounting – Process

Business Entity Concept

Money Measurement Concept

Going Concern Concept

Cost Concept

Dual Aspect Concept

Accounting Period Concept

Matching Concept

Accrual Concept

Objective Evidence Concept

Convention of Consistency

Convention of Disclosure

Convention of Materiality

Conservation or Prudence

Accounting - Classification of Accounts

Accounting – Systems

Financial Accounting – Journal

Analysis and Treatment of Transactions

Financial Accounting – Ledger

Ruling of Account in Ledger Account

Important Points Regarding Ledger

Illustration

Journal Entries

Cash Book

Single Column Cash Book

Double Column Cash Book

Triple Column Cash Book

Petty Cash Book

Purchase Book

Sale Book

Purchase Return Book

Sale Return Book

Bills Receivables Book

Bills Payable Book

Key Features of Subsidiary Books

Bank Reconciliation

Trial Balance

Financial Statements

Owner’s Equity

Current Assets

Current Liabilities

Cash vs. Accrual Basis of Accounting

Financial Accounting – Depreciation

Accounting Entries Related to Assets and Depreciation

Method of Depreciation

Cost Accounting – Introduction

Concepts of Cost Accounting

Cost Accounting – Advantages

Cost Accounting vs Financial Accounting

Cost Accounting - Classification of Cost

Cost Accounting - Elements of Cost

Cost Accounting - Cost Sheet

Cost Accounting - Cost Control

Cost Control Techniques

Requirements for Successful Cost Control

Cost Accounting - Cost Reduction

Cost Reduction Program

Fields Covered under the Cost Reduction Program

Financial Management

Personal Management

Material Control

Tools and Techniques of Cost Reduction

Cost Accounting - Budgeting Analysis

Budget, Budgeting, and Budgetary Control

Etc...

Accounting & Financial Formula

Formula of Operating cycle

Formula of Liquidity

Formula of Profitability

Formula of Activity

Formula of Financial leverage

Formula of Shareholder ratios

Formula of Return ratios

Accounting & Financial Terms and Abbreviation

Financial Statements

Balance Sheet

Income Statement

Cash Flow Statement

Stockholders’ Equity

Financial Ratios

Accounting Principles

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