The Accounting Equation

The Accounting Equation

Are you thinking of going into business for yourself, or do you already own your own business? If this is you, then you must know about the most fundamental concepts in accounting. Accountants process data into documents known as financial statements. This is the...
Bookkeeping Basics

Bookkeeping Basics

Many people believe bookkeeping and accounting is an interchangeable term, but bookkeeping is a function of accounting, as accounting comprises of many functions which includes managing the financial affairs of a business.  Additionally, accountants prepare the...
What is Accounting Anyway?

What is Accounting Anyway?

If you have ever balanced a checkbook – you have performed an accounting procedure! Saved money to put a down payment on a new car – you have performed an accounting procedure! All business perform some form of accounting procedures, pay and send out bills, invoice...