Introduction to Accounting Basics

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Introduction to accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology. Once you become familiar with some of these terms and concepts, you will feel comfortable in working in accountancy field.

Some of the basic accounting terms that you will learn in OSBMA include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become known with accounting debits and credits as we show you how to record transactions. You will also learn why two basic accounting principles, the revenue recognition principle and the matching principle, assure that a company's income statement reports a company's profitability.
In this explanation of accounting basics, and throughout all of the free materials and the OSBMA materials—we will often omit some accounting details and complexities in order to present clear and concise explanations. This means that you should always seek professional advice for your specific circumstances.

Basic of Accountancy

  Introduction to Accounting
  Fundamentals of Accounts
  Recording of Transaction
  Trial Balance
  Bank Reconciliation Statement
  Final Accounts

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