Accounting Basics

✴Proper financial planning is a key to the success of every business. In today’s business world, accuracy is more important than ever. Accountants do much more than untangle messes at tax time. ✴

►They help companies and organizations to meet the requirements and standards set by the government and by their industries. Accredited accountants are always needed to keep individuals’ and businesses’ financial affairs in flawless order. ☆

►This App of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology. ☆

►Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions. ☆

❰❰Accountants JD❱❱

⇢ Prepare and examine financial records
⇢ Organize and maintain accurate records
⇢ Ensure that financial statements comply with laws and regulations
⇢ Compute taxes owed, prepare tax returns and ensure prompt payment
⇢ Assess financial operations
⇢ Advise ways to reduce costs, enhance revenues and improve profits
⇢ Integrity in professional and business relationships
⇢ Objectivity, lack of bias and no conflict of interest
⇢ Professional competence and due care
⇢ Confidentiality
⇢ Professional behavior and compliance with laws and regulations
⇢ Avoid actions that discredit the profession

【Few Important Topics covered in this App are Listed Below】

➻ Accounting - Overview
➻ Golden Rules of Accounting
➻ Objectives and Scope of Accounting
➻ Accounting - Process
➻ Business Entity Concept
➻ Money Measurement Concept
➻ Going Concern Concept
➻ Cost Concept
➻ Dual Aspect Concept
➻ Accounting Period Concept
➻ Matching Concept
➻ Accrual Concept
➻ Objective Evidence Concept
➻ Convention of Consistency
➻ Convention of Disclosure
➻ Convention of Materiality
➻ Conservation or Prudence
➻ Accounting - Classification of Accounts
➻ Accounting - Systems
➻ Financial Accounting - Journal
➻ Analysis and Treatment of Transactions
➻ Financial Accounting - Ledger
➻ Ruling of Account in Ledger Account
➻ Important Points Regarding Ledger
➻ Illustration
➻ Journal Entries
➻ Cash Book
➻ Single Column Cash Book
➻ Double Column Cash Book
➻ Triple Column Cash Book
➻ Petty Cash Book
➻ Purchase Book
➻ Sale Book
➻ Purchase Return Book
➻ Sale Return Book
➻ Bills Receivables Book
➻ Bills Payable Book
➻ Bank Reconciliation
➻ Trial Balance
➻ Financial Statements
➻ Owner’s Equity
➻ Current Assets
➻ Current Liabilities
➻ Cash vs. Accrual Basis of Accounting
➻ Financial Accounting - Depreciation
➻ Method of Depreciation
➻ Cost Accounting - Introduction
➻ Concepts of Cost Accounting
➻ Cost Accounting - Advantages
➻ Cost Accounting vs Financial Accounting
➻ Cost Accounting - Classification of Cost
➻ Cost Accounting - Elements of Cost
➻ Cost Accounting - Cost Sheet
➻ Cost Accounting - Cost Control
➻ Cost Control Techniques
➻ Requirements for Successful Cost Control
➻ Cost Accounting - Cost Reduction
➻ Cost Reduction Program
➻ Fields Covered under the Cost Reduction Program
➻ Financial Management
➻ Personal Management
➻ Material Control
➻ Tools and Techniques of Cost Reduction
➻ Cost Accounting - Budgeting Analysis
➻ Budget, Budgeting, and Budgetary Control
➻ Types of Budgets
➻ Flexible Budget Vs. Fixed Budget
➻ Flexible Budget
➻ Cash Budget
➻ Cost Accounting - Marginal Costing
➻ Need for Marginal Costing
➻ Advantages of Marginal Costing
➻ Cost Accounting - Standard Costing
➻ Points Related to Standard Costing
➻ Standard Cost Card
➻ Cost Accounting - Variance Analysis
➻ Direct Material Variance
➻ Direct Labor Variance
➻ Cost Accounting - CVP Analysis
➻ Marginal Cost Equation
➻ Break-Even Chart
➻ Management Accounting