Principles of Financial Accounting

Dublin Core

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.

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

Document Viewer

Social Bookmarking

Collection

Citation

Christine Jonick, “Principles of Financial Accounting,” Open Educational Resource (OER) - UNM, accessed February 18, 2020, http://oer.unm.ac.id/items/show/2207.