Basic Accounting Equation

Understanding the basic accounting equation is essential in learning and doing the accounting process. This equation is often used in the accounting procedures, from recording until interpretation of the financial data. What is the Basic Accounting Equation? Basic Accounting Equation states that the business resources (assets) are attributable to the amount owed to creditors … [Read more...]

Basic Accounting Principles and Concepts

Accounting is referred to as "the language of business" because it communicates the financial condition and performance of a business to interested users.In order to become effective in carrying out the accounting procedure, as well as in communication, there is a widely accepted set of rules, concepts and principles that governs the application of the accounting. These … [Read more...]

What is a Stakeholder?

Accounting is defined as the language of business. Accounting is a mean by which business financial information is communicated to its stakeholders.In this article, you will learn about the definition of a stakeholder ~ the users of accounting information ~ and how they use such financial reports to their decision making. Users of Accounting Information A stakeholder is … [Read more...]

Careers in Accounting

A person pursuing a career as an accountant can choose from various areas, jobs or tasks in the accounting profession. The diversity of the accounting profession makes it easier for an accountant to find and fill a job. By itself, it seldom happens that an accountant runs out of job opportunity or client.If you find the right career in accounting which you can work best at, … [Read more...]

Business Transaction

In accounting, you record, classify, summarize and report financial information, of an individual, business or organization, to interested users. The reported financial information comes from what is referred to as business transactions.In understanding the accounting basic, you need to learn and get familiar to the starting point and core of the accounting process, which … [Read more...]