Basics of accounting

Purpose of this section “Basics of Accounting” is to make you acquainted with the fundamentals of accounting and basic terminologies. If you are starting a business or starting your accounting studies, and you have no previous accounting background, we highly recommend that you go through all the chapters of this section before diving further into the world of accounting. This will help you in understanding the concepts and will make your life easier in terms of learning accounting.

Following are the chapters included in Basics of Accounting:

  1. Introduction to accounting
  2. Business transactions
  3. Financial statements
  4. Balance sheet
  5. Income statement
  6. Accounts
  7. Debits and credits