More Learnfly
Business Solution Become an InstructorAccounting involves systematically recording, analyzing, and interpreting financial transactions. It provides insights into a business's financial health, aiding decision-making, regulatory compliance, and the communication of financial information to stakeholders.
By : Biz Facility
Bookkeeping process and understanding how they are done...
4.3 82
6 lectures All Level
By : Biz Facility
Practical Approach to understading Capital Allowances and Recoupments...
4.3 72
6 lectures All Level
By : Biz Facility
Not sure what business expenses to claim?...
4.3 67
5 lectures Beginner Level
By : Biz Facility
Need to know how PAYROLL works?...
4.3 73
4 lectures All Level
By : Biz Facility
Read and Understand Cash Flow Statements...
4.3 97
4 lectures All Level
By : Biz Facility
Learn to Prepare Management Reports in Excel...
4.3 473
6 lectures All Level
By : LEMMY FRANCISCO KAWONGA
Statement of Cash Flows...
4.8 1365
9:12:40 hrs 46 lectures Beginner Level
By : LEMMY FRANCISCO KAWONGA
Bookkeeping & Accounting: Bank Reconciliation...
4.8 1169
4:57:10 hrs 16 lectures Beginner Level
By : SONU THOMAS
Learn AP and P2P in a structured manner...
4.5 797
26 lectures All Level
By : SONU THOMAS
ONE STOP REPOSITORY of basic journal entries....
4.5 815
10 lectures Beginner Level
Learn more topics in various categories at one place. Explore unlimited courses in other categories and up-skill yourself today.
4.2 770987 Beginner Level
4.1 568911 All Level
4.1 346610 All Level
4.2 101190 All Level
4.6 100798 All Level
4.8 100689 All Level
4.8 99942 Beginner Level
4.9 99904 All Level
4.8 99820 All Level
6 Lectures Beginner Level
6 Lectures Beginner Level
5 Lectures Beginner Level
4 Lectures Beginner Level
4 Lectures Beginner Level
6 Lectures Beginner Level
8 Lectures Beginner Level
57 Lectures Beginner Level
42 Lectures Beginner Level
16 Lectures Beginner Level
46 Lectures Beginner Level
16 Lectures Beginner Level
32 Lectures Beginner Level
8 Lectures Beginner Level
8 Lectures Beginner Level
8 Lectures Beginner Level
26 Lectures Beginner Level
10 Lectures Beginner Level
16 Lectures Beginner Level
55 Lectures Beginner Level
18 Lectures Beginner Level
39 Lectures Beginner Level
71 Lectures Beginner Level
27 Lectures Beginner Level
81 Lectures Beginner Level
5 Lectures Beginner Level
27 Lectures Beginner Level
19 Lectures Beginner Level
15 Lectures Beginner Level
19 Lectures Beginner Level
11 Lectures Beginner Level
275 Lectures Beginner Level
8 Lectures Beginner Level
8 Lectures Beginner Level
20 Lectures Beginner Level
8 Lectures Beginner Level
9 Lectures Beginner Level
8 Lectures Beginner Level
10 Lectures Beginner Level
12 Lectures Beginner Level
9 Lectures Beginner Level
9 Lectures Beginner Level
19 Lectures Beginner Level
55 Lectures Beginner Level
14 Lectures Beginner Level
47 Lectures Beginner Level
9 Lectures Beginner Level
10 Lectures Beginner Level
14 Lectures Beginner Level
10 Lectures Beginner Level
18 Lectures Beginner Level
12 Lectures Beginner Level
17 Lectures Beginner Level
12 Lectures Beginner Level
23 Lectures Beginner Level
10 Lectures Beginner Level
5 Lectures Beginner Level
5 Lectures Beginner Level
7 Lectures Beginner Level
7 Lectures Beginner Level
8 Lectures Beginner Level
28 Lectures Beginner Level
8 Lectures Beginner Level
7 Lectures Beginner Level
25 Lectures Beginner Level
34 Lectures Beginner Level
13 Lectures Beginner Level
14 Lectures Beginner Level
Accounting is the process of systematically recording, summarizing, and analyzing financial transactions of a business or organization. It involves preparing financial statements, interpreting financial data, and ensuring compliance with relevant accounting standards.
Accounting is essential for businesses to track their financial performance, make informed decisions, and comply with legal and regulatory requirements. It provides stakeholders, such as investors and creditors, with a clear picture of a company's financial health.
Basic accounting principles include the accrual basis (recording transactions when they occur, not when cash changes hands), the matching principle (matching expenses with revenues), and the principle of conservatism (prudent recognition of losses).
Financial statements are reports that provide a snapshot of a company's financial position and performance. The main statements are the balance sheet (assets, liabilities, equity), income statement (revenues, expenses, profit), and cash flow statement (cash inflows and outflows).
Technology has transformed accounting through the use of accounting software, automation, and cloud computing. These advancements streamline bookkeeping processes, improve accuracy, and provide real-time access to financial data, enhancing efficiency in financial management.