Accounting Basics

Accounting systematically records, summarizes, and reports financial transactions so stakeholders can understand organizational performance and make informed decisions.

Learning Resources

• Accounting Equation: What It Is and How You Calculate It

• What Is an Asset? Definition, Types, and Examples

• Equity Meaning: How It Works and How to Calculate It

• Revenue Definition, Formula, Calculation, and Examples

• Current Assets vs. Noncurrent Assets: What's the Difference?

• Revenue vs. Profit: What's the Difference?

• What Is a Bottom Line in Accounting, and Why Does It Matter?