Posted infinancial statements
Posted inBasics
How to produce a Profit and Loss Statement
A Profit and Loss Statement illustrates how much profit you made in any given period,…
Posted inBasics
How to prepare trial balance
The Trial Balance is, as the name suggests, a table where we lay out all…
Posted inBasics
How to calculate Depreciation (Balance Day Adjustment)
Earlier we discussed the term capital expenditure. Let’s explore this a little further. Capital expenditure is when…
Posted inBasics
What is Ledger & How to create One
We’ve just processed all our transactions into journals. The next step in the accounting process is…
Posted inBasics
How to do a Journal Entry
OK soldiers. Time to do some real accounting! Everything we do from this point on…
Posted inBasics
Basic Accounting Transactions
In this lesson, we are going to learn how basic transactions move through the accounting…
Posted inBasics
Introducing The Complete Accounting Equation
Remember in Lesson 2 we learned the basic form of the accounting equation as: Assets…
Posted inBasics
What is Revenue, Expense and Drawing
In Lesson 2 we defined the terms Asset and Liability. In this lesson we will…
Posted inBasics
The Accounting Equation
The accounting equation! Probably sounds intimidating. Don’t worry, it really is as simple as ABC.…
Posted inBasics
What are Assets and Liabilities in Accounting
The words “asset” and “liability” are two very common words in accounting. Some people simply…