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Accounting has always had a good share of bad reputation and has been as populated by the math™s geeks who loves nothing else but crunching of numbers. Fact is, the stereotype may have had some truth, sometime in the past, but no longer presents accurate picture of the career. Most of the accounting mechanics that…

Some people have always termed accounting as a boring subject, consisting of nothing but math and calculations all through. Accounting has more than just crunching numbers. In fact actual definition of accounting is a process of identifying, recording, summarizing and reporting economic information for decision making purposes. In simpler terms, accounting is a business language…

The income statement is an integral part of financial statement which is very beneficiary and helpful for determining for net income or ne loss. Income statement also helps the user of accounting specially the external users such as investors and creditors. The users of income statement basically focus or use the information of income statement…

After the purchasing of inventory, the next step of the company is to sale the goods. The amount a business enterprise generally earns from selling merchandise inventory which is termed as sales revenue or sales. Companies record sales revenues when it is earned, in accordance with the revenue recognition principle. Sales are generally made on…

Accounting is defined as the process of identifying, measuring and communicating the information to the interested users or decision makers. These information are basically consists of financial information which records the economic events of an economic entity. Financial accounting is the process that culminates in the preparation of financial reports on the enterprise for use…

Hello! Welcome to our Accounting Training Blog.‘ This is one of the most informative accounting tutorial sites you have ever seen. We are Rifat & Tanjin, the two guys behind this blog. Here in this Free Online Accounting Training site, we will try to produce some quality tutorials on accounting. We are in the process…

Welcome to Free Online Basic Financial Accounting Training Session. Through this Free accounting training course, we will share 112 full free online accounting training videos. These videos will cover different topics on Basic Financial Accounting. Today in this first part of the Basic Financial Accounting Training Session we will share 7 Free Accounting Training videos…

Following the free online accounting training class on retained earning statements will help you to understand: What is Retained Earning Statement Example or Template of Retained Earning Statement Meaning of Equity Statement or Statement of Owner’s Equity Formation or Procedure of Making the Statement of Retained Earnings The company prepares an income statement to determine…

In this Free Online Accounting Training Class on Cash Flow Statements you will learn: What is a 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 The cash flow statement…

Elements of Financial Statement July 21, 2011 Here in this free online accounting training tutorial you will learn about some of the key elements of Financial Statements: Assets: assets are the resources owned by the company. Assets are considered as Probable future economic benefits. Assets are acquired or controlled by any company which is resulted…