General Accounting Tutorial
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General Accounting Tutorial
Double entry accounting can initially be confusing. This section is an attempt to present a very very brief overview of double entry accounting for those not already familiar with it. The content of this section is from a generous contribution by an accounting professional, Here is the way Erin Lawlor starts out his tutorial:
"The Accounting System we use today, The Double Entry System, was first published in Venice, Italy in 1494 by a mathematician named Luca Pacioli but it has been traced back at least as far as the 12th century and there is a good reason why it has endured. It is based on the idea of a balanced financial picture. That is, we should not only know how money has been spent, we should also know where it came from."
The 12th Century ! Wow, this system absolutely must be a final contender for the old engineering adage, "If it works, don't fix it! ".
Mr. Lawlor's site has much tutorial information as well as blog articles of interest. The copyrighted material in this section is reprinted here with his permission. His site is at http://www.accountingunplugged.com/ . Only the initial basic articles will be reprinted here. Mr. Lawlor's site also has a workbook for those wanting a very short course in exercising basic accounting principles.
- General Accounting Tutorial
- 1. Accounting System Overview
- 2. Double Entry Accounting - Basics
- 3. Double Entry Accounting - Practice
- 4. Chart of Accounts - The Basics
- 5. Chart of Accounts - Organization
- 6. Chart of Accounts - Account Types
- 7. General Ledger - Accounting Periods
- 8. General Ledger Accounts on Financial Reports
- 9. Financial Statements - Trial Balance
- 10. Financial Statements - Income Statement
- 11. Financial Statements - Balance Sheet
- 12. Financials - Statement of Cash Flows
- 13. Cost of Goods Sold and Inventory
- 14. Percentage of Completion and Work in Progress
- 15. Accounting Journals and Ledgers - Transaction Posting
- 16. Accounting Structure - Quick Reference
- 17. How to Use Financial Statements and Ratios
- 18. How to Add Value to your Company
- 19. Understand Your Numbers
