Author: accountingtutorial_rb65ti
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What Is Trial Balance
This Free Online accounting training tutorial on Trial Balance will help you to understand: Trial balance is the list of each account with their debit and credit balances at a given time. At the end of an accounting period, a company prepares a trial balance. The accounting statement of trial balance is brought from ledger account. Trial balance…
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Limitations of Trial Balance
Today in this free online accounting training class we will discuss: Trial Balance helps to find out errors from journal and ledger. As we discussed earlier the debit and credit column of Trial Balance may balance with numerous error that means the equality of trial balance does not ensure that journalizing or posting is being processed accurately. There…
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Methods of Applying Lower-of-Cost-or-Market Concept
In our previous articles on Lower of Cost or Market Concept, we have given a short introductory lecture on that method. Today you will learn how any company applies the method of lower-of-Cost-or-Market in their operational activities through this example: For example ABC Company applied the lower-of- cost-or-market method in each individual type of food.…
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Users of Accounting Information
In this free online accounting training tutorial we will discuss: Users of Accounting Information Internal Users of Accounting Information External Users of Accounting Information Who use accounting information Accounting is an information system which identifies records and communicates this information to the interest users in the form of financial statements. These financial statements are transferred…
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Meaning & Functions of Forensic Accountant
Meaning & Functions of Forensic Accountant August 15, 2011 This Article on Forensic Accounting‘ will help you to learn: Meaning & Definition of Forensic Accountant What do Forensic Accountants Do Why Forensic Accountant is necessary Role of Forensic Accountant in business In general term a Forensic Accountant could be defined as the person who seeks…
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What is Cash Flow Statement
In this Free Online Accounting Training Class on Cash Flow Statement you will learn: What is Cash Flow Statement or Statement of Cash Flows What is meant by Funds Flow Statement Formation of Cash Flow Statement Sample Cash Flow Statement Activities of Cash Flow Statement Preparation of Cash Flow Statement Cash flow statement is the…
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Definition of Balance Sheet and Its Components
This free online Accounting Training Tutorial on Balance sheet will help you to understand: Meaning & Definition of Balance Sheet Components of Balance Sheet Balance Sheet Sample Balance Sheet on the basis of Accounting Equation Balance Sheet presents a snap shot of the organization at a given point. Balance sheet is known as the statement…
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Accounting Cycle: Meaning & Steps (Part-2)
Welcome to the second part of Accounting Cycle lecture series. On the first part of Accounting Cycle tutorial we discussed on following steps: 1. Identifying and Recording Transactions and Other Events 2. Journalizing 3. Posting 4. Trial Balance 5. Adjustments Today in this last part we will discuss on these 6 remaining steps. Such as:…
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Multiple Step Income Statement: Format & Example
On our previous accounting lecture on Income Statement: Definition, Sample & Elements we give you basic guideline about income statement. Now you will learn following points of information about multiple step income statement: What is Multiple Step Income Statement Example & Template of Multiple Step Income Statement Difference between single & multiple step income statement…
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Accounting Degrees
An accounting degree prepares students to become future accountants for various responsibilities in the financial field, as they learn how to track the income and assets of a business over time. These courses include instructions on the use of financial systems. If you are considering becoming an accountant, you must earn an accounting degree for…