Financial Accounting

Financial Accounting study notes for business students. From this app, you will get all basic & fundamental key concept about financial accounting process. All contents are offline make this app one of the best resource to learn financial accounting while you are on the go. You will learn:

Capital, Profit & Loss.

Drawings Debtors Creditors Owned/Loaned Capital.

Income, Expenditure, Receipts, Payments.

The Need for Accounting.

Money Measurement Concept.

Basic Purpose of Accounting.

Objective of Accounting, Elements/Aspects in Accounting, Separate Entity Concept.

Basic Accounting Equation :: Capital + Liabilities = Assets.

Effect of Transactions on the Accounting Equation.

Dual Entity Concept.

Account Types or Kinds of Accounts - Personal, Real, Nominal.

Kinds of Accounts Illustration.

Rules of Debit and Credit - Accounting.

Rules of Debit and Credit Illustration.

Journal - Book of Prime Entry, Journalising.

Recording a Transaction in the Journal.

Preparing the Ledger : Posting.

Ledger Account Balancing.

Trial Balance Preparation and Purpose.

Organisational Accounting System Design.

Simple Compound/Combined Journal Entry.

Complex Compound/Combined Journal Entry.