The cash flow report is the third component of a company’s financial statements. The report…

The Balance Sheet attempts to show how much the business is worth. It does this by illustrating…

A Profit and Loss Statement illustrates how much profit you made in any given period,…

The Trial Balance is, as the name suggests, a table where we lay out all…

Earlier we discussed the term capital expenditure. Let’s explore this a little further. Capital expenditure is when…

We’ve just processed all our transactions into journals. The next step in the accounting process is…

OK soldiers. Time to do some real accounting! Everything we do from this point on…

In this lesson, we are going to learn how basic transactions move through the accounting…

Remember in Lesson 2 we learned the basic form of the accounting equation as: Assets…

In Lesson 2 we defined the terms Asset and Liability. In this lesson we will…