What Is Accounting? Purpose, Users and Branches
What accounting is, who relies on accounting information, the main branches of accounting and how transactions become financial statements.
Beginner6 min read
Accounting
Recording, reporting and interpreting financial information.
Articles
10 articles found
Accounting Principles, Concepts and Conventions
The basic assumptions and principles behind financial statements — going concern, accrual, consistency, prudence, materiality and more — with examples.
Beginner7 min read
Double-Entry Bookkeeping: Debits, Credits, Journals and Ledgers
How double-entry bookkeeping works: the debit and credit rules, journal entries, ledger accounts and T-accounts, with a complete worked example.
Beginner5 min read
Trial Balance, Adjusting Entries, Accruals and Provisions
How to prepare a trial balance and the adjusting entries that follow it — accrued expenses, prepayments, accrued and unearned revenue, depreciation and provisions.
Intermediate5 min read
The Financial Statements: Income Statement, Balance Sheet and Notes
A practical guide to the income statement, the balance sheet, the statement of changes in equity and the notes — what each shows and…
Beginner5 min read
The Cash Flow Statement: Operating, Investing and Financing Activities
How the cash flow statement works — operating, investing and financing activities, the indirect method step by step, and how to read free cash…
Intermediate5 min read
Depreciation Methods: Straight-Line, Reducing Balance and Units of Production
How depreciation spreads the cost of an asset over its useful life, with worked examples of straight-line, reducing balance and units-of-production methods.
Beginner5 min read
Inventory Valuation: FIFO, Weighted Average Cost and Net Realisable Value
How inventory is valued under IAS 2: what goes into cost, FIFO versus weighted average cost, and writing inventory down to net realisable value.
Intermediate5 min read
Cost and Management Accounting: Costing, Budgets and Variances
How cost and management accounting support decisions: cost behaviour, contribution margin, break-even, budgets and variance analysis, with worked examples.
Intermediate5 min read
IFRS and IAS: An Introduction to International Accounting Standards
What IFRS and IAS are, who sets them, how the Conceptual Framework works, the most important standards and how auditing supports reliable reporting.
Intermediate5 min read