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Accounting: Start Learning Here

Accounting is the language of business. It is a means of communication of business information. You must have the basic knowledge of accounting to understand the performance and position of a business.

The recording part of accounting is called Bookkeeping.

Under bookkeeping, you analyze business transactions and record them in journals and ledgers according to rules and principles of accounting.

After bookkeeping, the following basic financial statements are prepared. They provide important information about the business.

1. Statement of Profit & Loss
2. Balance Sheet
3. Cashflow Statement

We use several techniques such as ratio analysis to analyze these statements to extract important information.

Basics of Accounting