Accounting Basics
A Story for Relating to Accounting Basics We will present the basics of accounting through a story of a person starting a new business. The person is Joe Perez—a savvy man who sees the need for a parcel delivery service in his community. Joe has researched his idea and has prepared a business plan that documents the viability of his new business.
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Accounting Cheat Sheet
www.accountingcoach.comYour AccountingCoach PRO membership includes lifetime access to all of our materials. Take a quick tour by visiting www.accountingcoach.com/quicktour.
Chart of Accounts - AccountingCoach.com
www.accountingcoach.comA chart of accounts is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general ledger. A company has the flexibility to tailor its chart of accounts to best suit its needs, including adding accounts as needed.
Accounting Basics
www.accountingcoach.comin the market value of property. Under the accrual method, these are reported on the income statement when they are earned. Sales and fees earned are examples. This financial statement reports a company’s financial position as of a moment of time. It reports the assets, liabilities and stockholders’ (or owner’s) equity.
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