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Introductory Accounting by Lisa A. Bucki, Gail Perry, David H. Ringstrom

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CHAPTER1

How Accounting Works

In This Chapter

  • Demystifying accounting terms and concepts
  • Visualizing the accounting process with T accounts
  • Examples of typical accounting transactions

Every profession has its own seemingly cryptic vocabulary and ground rules, and accounting is no different. Almost every business owner needs to know the fundamentals of accounting in order to make sound business decisions, so in this chapter, we start by providing translations for the most important terms and concepts in accounting, laying the foundation for what you learn in later chapters.

Accounting Simplified

Accounting is a means of keeping score within ...

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