Basic Accounting - Learn Accounting Basics & Formulas

Accounting involves the systematic recording and summarization of financial data in a manner that is easily comprehensible. It entails measuring, documenting, and conveying information regarding financial transactions. This application is designed to provide an introduction to Accounting Fundamentals, organized by chapter for your convenience, allowing you to quickly find what you need. If you're seeking a handy reference guide on Accounting, the Basic Accounting app is perfect for you.

The app focuses on fundamental accounting principles and practices. It covers essential topics such as the accounting equation, which illustrates the relationship between assets, liabilities, and owner's equity. The app explains the double-entry book-keeping system, ensuring that for each transaction, total debits equal total credits. It also details the income statement, balance sheet, and profit and loss account, providing a comprehensive view of financial reporting. Additionally, the app discusses the reporting period and conversion period, highlighting how financial data is managed and transferred between accounting systems.

This application has been especially created for business students, offering assistance as they prepare for exams. 

It consists of three primary sections:

> Basic Accounting information.

> Accounting & Financial Formulas.

> Accounting & Financial Terms and Abbreviations.

What's included:

-The Basic Accounting information section provides essential insights into topics such as Accounting, Balance Sheets, Bookkeeping, Profit & Loss statements, and more.

-The Accounting & Financial Formulas section includes numerous key formulas.

-The Accounting & Financial Terms and Abbreviations section offers a wide range of abbreviations, making it an important and beneficial resource.

-This app covers a variety of subjects including:

👉The Accounting Equation: This equation illustrates the relationship among a person’s or business’s assets, liabilities, and owner’s equity. Download the app for further exploration.

👉The Balance Sheet

👉Double Entry Bookkeeping

👉Profit and Loss Account

👉Reporting Period & Conversion Period

👉Accounting & Financial Formulas

👉Operating Cycle Formula

👉Liquidity Formula

👉Profitability Formula

👉Activity Formula

👉Financial Leverage Formula

👉Shareholder Ratios Formula

👉Return Ratios Formula

👉Accounting & Financial Terms and Abbreviations

👉Financial Statements

👉Balance Sheet

👉Income Statement

👉Cash Flow Statement

👉Stockholders’ Equity

👉Financial Ratios

👉Accounting Principles

👉Bookkeeping, Debits, and Credits

👉Accounting Equation

👉Adjusting Entries

👉Bank Reconciliation

👉Petty Cash

👉Accounts Receivable and Bad Debts Expense

👉Inventory and Cost of Goods Sold

👉Depreciation

👉Accounts Payable

👉Cost Behavior and Break-even Point

👉Payroll Accounting

👉Standard Costing

👉Accounting Pronouncements

👉Organizations