Accounting Basics Pdf. Important terms in financial accounting introduction. Accounting basics will introduce you to some of thefundamentalaccounting principles concepts and terminology some of the terms that you will learn would include revenues expenses assets liabilities income statement balance sheet statement of cash flows etc basically the main purpose.
Important terms in financial accounting introduction. Accounting attempts to recognize non cash events and circumstances as they occur. Part 3 the next training in this series illustrates and discusses the balance sheet the income statement and analyzing financials business types business organization professional advice accounting and records accrual accounting basic bookkeeping.
The users of information generated by financial accounting like bankers financial institutions regulatory authorities government investors etc.
It may vary from organization to organization but the process remains the same. Financial accounting is charged with the primary responsibility of external reporting. It is the accounting process of recognizing. Part 1 started with the basics by discussing.
