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Basic Accounting Course Tagged Articles



An Accounting Overview for Non-Accountants
Whether you are a small business owner or a CEO of a multinational corporation, at the end of the month, quarter or a fiscal year, you have dealt with accounting records and financial statements. This article is for non-accountants, who try to understand what is accounting all about and how one can use it to make better business decisions.
Understanding the Balance Sheet
This article will give you a basic idea about the balance sheet. What is balance sheet, what are the components that make up a balance sheet? How do accountants classify it and what are the transactions that have an effect on it? You will learn the basic balance sheet equation which is true for a small business and multinational corporation.
Understanding the Income Statement
Income statement can be viewed as a summary and final evaluation of company’s business activities for the past fiscal year. We will discuss the components of an income statement, their classifications and the ways it is connected to the other financial statements. After reading this article you will have a basic understanding of accounting principles behind the statement of earnings.

Other Basic Accounting Course Related Articles

Simple Accounting for the Small Business Synoptic Journal Bookkeeping using a Simple Accounting Spreadsheet Template
You have started a small business while still working or to create additional income for your household income. You know nothing about accounting or bookkeeping. This accounting administration part of business scares you a bit and is holding you back from 'Doing IT'. Here is a simple approach to achieve the recording of your business financial books. No prior accounting or bookkeeping knowledge required! Don't buy Quick Books or AccPac or some other accounting package. This simple bookkeeping approach is easy and FREE.
ACCOUNTING POLICE: DO THEY EXIST?
Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of financial statements conform to the rules. There is, up to a point, and this article discusses how it works:
ACCOUNTING PRINCIPLES & STANDARDS: AVOID THEM AT YOUR PERIL
Accounting principles are the basic assumptions, rules of operation, and essential characteristics that make up the framework for the construction of accounting financial statements. This article discusses the difference between principles and standards and why they are important.
CPA INCOME RISK MANAGEMENT
A very basic but practical way of looking into risk management in terms of quantity of clients. This could be a way to a new added-value consulting service as well for your accounting practice...

How to Start a Bookkeeping Business 1-2-3
There is money to be made as a bookkeeper. Even if you think you'd never be able to start your own business - with basic accounting skills, some software and insurance, you can be off and running very quickly with your own bookkeeping company.
Is your Accounting System Broken?
In the past few months we have heard so much about Greece’s large debt burden and budget deficit leading to a contagion of problems that are likely to take the entire Euro Zone down. You wonder how this problem just revealed itself so suddenly without any prior warning. After all didn’t the Government of Greece and the Euro Zone’s central bank know they were taking on too much debt? Wouldn’t their accounting system tell them the level of debt and growing deficit as it got worse over the years? The reason why Greece's problems went undetected for so long is that they had a broken accounting system. Every year, K&M Accounting and Tax Services come across small and large businesses in Charlotte and Carolinas that have accounting systems that just don’t work. Here's some tips to find out if your accounting system is working for you.
Accounting for Non Accountants : Debit, Credits and Financial Statements
When people hear the term accounting, there is an involuntary reaction whereby the comprehension centres (the medical term) of their brains tend to shut down, and sleep mode is activated. This is unfortunate, as accounting, especially to a small business owner, can actually be quite interesting. It is one of the primary tools by which business owners and other interested parties can gage the success of their business, as well as identify areas that require attention and need improvement. To understand accounting, business owners need to have a basic understanding of how it works (debits and credits) and it's results (financial statements), explained below:
Advanced Franchise Business Accounting - Part 1
In FranchiseHelp's 3-Part Guide on EvanCarmichael for analyzing the profit potential of a franchise business, we provided basic descriptions of several important accounting terms. Those descriptions were fully sufficient for building out a basic franchise business plan model, but some people like to dig deep into the weeds, so for you detail freaks we've assembled the following guide to Advanced Franchise Accounting Concepts. Read on for Part 1 of a 2-Part Series on Franchise Accounting Terminology.
Advanced Franchise Business Accounting - Part 2
In FranchiseHelp's 3-Part Guide on EvanCarmichael for analyzing the profit potential of a franchise business, we provided basic descriptions of several important franchise business accounting terms. Some readers wanted to go beyond these introductory concepts, so we've written the following guide to Advanced Franchise Accounting Concepts. Read on for Part 2 of a 2-Part Series on Advanced Franchise Accounting Terminology.
Chart of Accounts Best Practices
Often the simplest and most basic things within an organization are overlooked. It is time to get back to basics! The most basic of outputs from an accounting department is the chart of accounts, and this article looks at best practices to improve operating efficiencies.
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