Lessons
- Introduction to Accounting Skills for Managers
- Key Accounting Concepts
- Accounting Business Transactions and the Accounting Equation
- Accounting Skills - Case Study
- Rules of Debit and Credit
- Maintaining Accounting Records
- Cheat Sheet - Accounting for Common Business Transactions
- Accounting Case Study - Journal Entries
- Accounting Case Study - General Ledger and Trial Balance
Key Accounting Concepts
There are a few important concepts related to business and accounting that form the backbone of the modern accounting and financial reporting system. In this lecture, we will look at some of these concepts and how the accounting system works.
The video discusses:
- Three money questions
- The accounting system
- Finance vs. Accounting
- Fiscal Period
- Double Entry Accounting System
- Going Concern Concept
- Historical Cost
- Cash vs. Accrual Accounting
- Revenue Recognition
- Matching Principle