Business Accounting

Introduction to Accounting Last document update:   ago

Business accounting is the systematic recording, analysing, interpreting and presenting of financial information. Accounting may be done by one person in a small business, or by different teams in large organisations. Accounting is the way a business keeps track of its operations.

Users of Financial Information Last document update:   ago

Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use

Accounting Equation Last document update:   ago

The accounting equation captures the relationship between the three components of a balance sheet: assets, liabilities, and equity. All else being equal, a company's equity will increase when its assets increase, and vice-versa.