Bookkeeping – Introduction and Basic Understanding

A series of lessons introducing bookkeeping. Theses lessons cover the basic principles involved and the corresponding terminology used in bookkeeping. The series covers basic debit and credit entries and explains the dual entry system.

Bookkeeping – Schedules (Lesson 23)


In accounting there are books (journals) and ledgers for source entry of information. A trial balance is used to monitor the types of accounts. With the use of parent-child accounts and control accounts bookkeepers can generate a wide array of reports. Unfortunately this still lacks the breath of supporting information needed. The profession uses schedules to augment the reports.

Bookkeeping – Proper Balance Sheet Presentation (Lesson 20)

Balance Sheet Presentation

The balance sheet serves as an historical report. It identifies the accumulated change in value since inception. The balance sheet is organized into two halves and both sides must be equal in value. In addition, the balance sheet is a snapshot of the financial condition at a single moment in time along the lifetime timeline of the company.

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