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Accounting At Your Fingertips, 2e by George R Murray

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1

Accounting System Setup

1.1 Accounting Basics

1.2 Determining a Form of Entity

1.3 Creating a Filing System

1.4 Establishing the Chart of Accounts

1.5 Opening the General Ledger

1.1 Accounting Basics

The Functions of Accounting

Accounts

The Accounting Equation

Financial Statements

The Rules of Accounting

Internal Controls

In this subchapter, we explain the function of accounting and who benefits from the information it provides. We also introduce the building blocks of an accounting system—assets, liabilities, and owner’s equity—and show how transactions affecting these accounts are summarized into key financial statements.

The Functions of ...

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