Accountant Town

There are many principles to learn when studying the science of Accounting. Handling money in our daily life doesn’t always align with this science, because many people do not consider the many technical aspects that are involved with money. Certain principles govern the way that money works in our society, and much can be learned from studying these. While no system is perfect, accounting is an incredible and conservative way to measure economic activity and wealth. If you need a refresher, or just want to learn for the first time, the lessons below will be a great start on the technical side of accounting.

Fundamental Financial Accounting Principles

• Objective of Accounting
• Income Drivers in Accounting
• Profit Motive of Business
• Business Organization to Drive Income
• Accounting’s Relationship to Economics
• Economics of Employment
• Various Types of Capital

Organization of Financial Accounting

• Books of Account
• Methods of Bookkeeping
• Single Entry vs Double Entry Bookkeeping
• Debits and Credits Explained
• Structure of Accounts
• Account Keeping
• Definition of the Trial Balance
• Classification of Accounts