Kategori Arşivleri: Bookkeeping

As a core concept in modern accounting, this provides the basis for keeping a company’s books balanced across a given accounting cycle. Companies compute the accounting equation from their balance sheet. They prove that the financial statements balance and the double-entry accounting system works. The company’s assets are equal to the sum of its liabilities […]

The financial statements of most companies are audited annually by an external CPA firm. You’ve probably heard about debits and credits, which basically are accounting terminology for the increase or decrease of balances in an account. However, you should note that credit or debit could mean either an increase or a decrease, depending on which […]