Tag: Account Types
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Bookkeeping – Proper Income Statement Presentation (Lesson 21)
The income statement presents information over a period of time. This time period is referred to as an accounting cycle.
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Bookkeeping – Debits and Credits in Revenue Accounts (Lesson 6)
Revenue accounts are the most fun to watch as a bookkeeper. Revenue is the lifeblood for success. Without revenue, the company is doomed to go bankrupt.
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Bookkeeping – Debits and Credits in Asset Accounts (Lesson 4)
Debits and credits are two words that are the most recognized terms synonymous to bookkeeping and accounting.
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Bookkeeping – Dual Entry System (Lesson 2)
In accounting the term dual entry is used often. Other names include Double Entry and Offsetting Entry.
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Bookkeeping – Account Types (Lesson 1)
To fully grasp the concept of accounting a bookkeeper must accept that there are six (6) different types of accounts. All the reports, ledgers, journals and entries revolve around these six types of accounts.