Introduction To Financial Accounting Course (UPenn)

To learn a foreign language like Accounting, you need fairly a bit of practice in the basic foundations (grammar, syntax, idioms, and many others.). This material is totally essential for with the ability to learn and to know books written in the language (in our case, financial statements.). This week, we'll begin building these foundations. We will begin with an outline of monetary reporting. What varieties of reviews are required? Who makes the rules? Who enforces the foundations? Then, we will cowl the balance sheet equation and outline/discuss Property, Liabilities, and Stockholders' Fairness. We'll introduce debit-credit bookkeeping and do a number of observe in translating transactions into debits and credits.

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