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Accounting Made Simple: Accounting Explained in 100 Pages or Less



Accounting Made Simple: Accounting Explained in 100 Pages or Less

Author: Mike Piper

Publisher: Simple Subjects

Genres:

Publish Date: 2013

ISBN-10: 0981454224

Pages: 114

File Type: Epub, Mobi

Language: English

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Book Preface

Accounting Made Simple

The Accounting Equation

Before you can create financial statements, you need to first understand the single most fundamental concept of accounting: The Accounting Equation.

The Accounting Equation states that at all times, and without exceptions, the following will be true:

Assets = Liabilities + Owners’ Equity

So what does that mean? Let’s take a look at the equation piece by piece.

Assets: All of the property owned by the company.

Liabilities: All of the debts that the company currently has outstanding to lenders.


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Epub, Mobi November 22, 2016


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