Double-entry accounting system

Purpose of this section “double-entry accounting system” is to make you acquainted with the method of accounting that is currently being followed almost everywhere in the world. This is one of the very fundamental concepts of accounting and one that must be clearly understood to learn accounting properly. 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 this section “double-entry accounting system”:

  1. Introduction to double-entry accounting system
  2. T-Accounts
  3. Normal balances of accounts and contra accounts
  4. Journal entries and general ledger
  5. Accounting equation
  6. Expanded accounting equation