The general rule in accounting for repairs and replacements is that repairs and maintenance work is expensed while replacements of assets are capitalized. Repairs are easy to record, it is …

In this special edition of “Accounting 101” we’ll explain the basics of accounting in easy to understand terms with real life examples, showing you the impact on your financial statements.

Accounting is the bookkeeping processes that records financial transactions and creates records and statements concerning the assets, liabilities, and operating results of a business

Introduction to Accounting Basics This explanation of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology.

Accounting is the “language of business.” It is an information and measurement system that identifies, records and communicates relevant, reliable and comparable information about …

In accounting, only business transactions and events of financial nature are recorded. Only trans- actions that can be expressed in terms of money are recorded.

Principles of accounting established by the Financial Accounting Standards Board (“FASB”). Asset – Any resource, tangible or otherwise, that is used to provide future benefits to a …

Discover the essentials of accounting with "Accounting 101" by Michele Cagan, a straightforward guide designed to empower you with crucial business skills. In a fast-paced business world, …

Accounting 101 This quick reference is for those who are new to accounting and need an introduction to some of its fundamental concepts.

This eBook aims to provide you with a comprehensive understanding of accounting and bookkeeping, their importance, and how they can impact the financial health of your business.