Better Business, 5/e

Objective 15-4 Accounting Functions

1. Describe the different types of accounting, the accounting standards, and the importance of the fundamental accounting equation.

Source: littleny/Fotolia

Arnold Sawyer was pretty good at handling business finances. When his niece Josephine asked him to oversee the finances for her vegan catering business, he figured he could handle it. Arnold’s background was in sales, but he thought he was smart enough to handle accounting. He used the software program QuickBooks to create a basic bookkeeping system. ...