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Financial Accounting Basics. Incurring debt from a lender. Important terms in financial accounting introduction.
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For example we would record in the accounting records such events transactions as. Incurring debt from a lender. The receipt of an invoice from a supplier.
For example we would record in the accounting records such events transactions as.
In financial accounting a transaction triggers the recording of information about the money involved in the event. 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 of financial accounting is to provide useful financial information to people or groups both inside and outside of companies often called external users. The receipt of an expense report from an employee. Incurring debt from a lender.
