Two types of accounting that new accountants will come across are single-entry bookkeeping and double-entry bookkeeping. Often these are referred to as single-entry accounting and double-entry accounting as well. We’re …
Single Entry vs Double Entry Bookkeeping and Accounting Read More »
The matching principle in accounting is one of the basic fundamental principles in Generally Accepted Accounting Principles (“GAAP”). Adhering to the matching principle is key to complying with GAAP. We’re …
What is the Matching Principle in Accounting? [Explained] Read More »
So you are diving a bit more into finance and finally need to learn to read a P&L statement? Profit and loss statements, also called income statements are one of …
How to Read a P&L Statement (Explained by an Accountant) Read More »
Accounting Basics Journal entries are one area in beginner accounting that give most students a bit of trickiness. They require students to tie together everything we have learned so far …
Journal Entries in Accounting (Explained) Practical Examples Read More »
Accounting Basics We’ve covered debits, credits, the basic accounting equation and accounts but we need to go further into accounts. In accounting, it is essential to understand the normal balance …
Welcome to Introduction to Accounting! This course is designed to provide you with a comprehensive introduction to the fundamental principles of accounting. No prior experience is needed and it’s actually …
Fixed assets need to be depreciated after their acquisition in order to reflect the usage and the wear and tear of the asset over time. There exist many ways to …
Declining Balance Depreciation Method (How to Calculate) Read More »
Whether you’re an accountant working for a company or a business owner, there’s many accounting concepts that you need to retain. Amortization is one of the topics you should master …
Amortization Example: How to Calculate Amortization Read More »
Accountants will often use terms like fair value or book value for valuations. These are also terms used in the finance world. Fair value and book value are different aspects …
Fair Value vs Book Value: [What are the Differences?] Read More »
