Business Administration

Tag: Liabilities

Bookkeeping – Various Terms (Lesson 26)

Jan 24, 2017

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by

David J Hoare MSA

in Bookkeeping – Introduction and Basic Understanding

In the previous 25 lessons I covered a lot of different terms and this lesson is merely a summary of the various terms a bookkeeper encounters.
Bookkeeping – The Accounting Equation (Lesson 24)

Jan 19, 2017

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by

David J Hoare MSA

in Bookkeeping – Introduction and Basic Understanding

The accounting equation is a simple formula used frequently in business. The formula is: Assets = Liabilities plus Equity OR Equity = Assets minus Liabilities.
Bookkeeping – Account Types (Lesson 1)

Jul 29, 2015

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by

David J Hoare MSA

in Bookkeeping – Introduction and Basic Understanding

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.