This article defines a transaction and explains how transactions are identified and analyzed in accounting. It includes a transaction analysis chart that helps the reader to determine whether a statement or event qualifies as a transaction to be recorded.
When analyzing transactions, they normally affect one or more types of accounts used in the accounting system. This article explains these six types of categories of accounts with the DEALER acronym, Drawings, Expenses, Assets, Liabilities, Equity, and Revenue, with the use of examples.
The accounting cycle and the accounting process are the guiding principles for accurate accounting. The accounting process normally involves nine steps that use different techniques, systems, and documents.
This article summarizes the definition of Accounting based on the authors years of experience in the field both professionally and academically. The importance of Accounting is also explained as well as the various categories or types of Accounting such as Managerial Accounting, Bookkeeping etc.
Studying abroad is a decision that must be made from an informed perspective, especially when it comes to costs. Of course, these costs will vary based on your choice of institution, program and your overall lifestyle. This article breaks down the basic ones based on the authors personal experience.