Principles of Financial Accounting
Dublin Core
Title
Principles of Financial Accounting
Subject
Financial Accounting
Description
Accounting may be defined as the process of analyzing, classifying, recording, summarizing, and interpreting business transactions. One of the key aspects of the
process is keeping “running totals” of “things.” Examples of items a business might keep track of include the amount of cash the business currently has, what a company
has paid for utilities for the month, the amount of money it owes, its income for the entire year, and the total cost of all the equipment it has purchased. You want
to always have these running totals up to date so they are readily available to you when you need the information. It is similar to checking what your cash balance in the bank is when deciding if you have enough money to make a purchase with your debit card.
process is keeping “running totals” of “things.” Examples of items a business might keep track of include the amount of cash the business currently has, what a company
has paid for utilities for the month, the amount of money it owes, its income for the entire year, and the total cost of all the equipment it has purchased. You want
to always have these running totals up to date so they are readily available to you when you need the information. It is similar to checking what your cash balance in the bank is when deciding if you have enough money to make a purchase with your debit card.
Creator
Christine Jonick
Source
https://open.umn.edu/
Publisher
University of North Georgia Press
Date
2017
Contributor
Baihaqi
Rights
Creative Commons
Format
PDf
Language
English
Type
Textbook
Files
Collection
Citation
Christine Jonick, “Principles of Financial Accounting,” Open Educational Resource (OER) - USK Library, accessed November 3, 2024, http://uilis.usk.ac.id/oer/items/show/2207.