Tag Archives for " equity "

The Statement of Cash Flow

It could be argued that the statement of cash flow is the most important of all the financial statements. It is also the least understood. Understanding the purpose of the statement of cash flow is the

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The Trial Balance

The trial balance is a list of all the accounts a company uses with the balances in debit and credit columns. There are three types of trial balances: the unadjusted trial balance, the adjusted trial balance

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Journal Entry Basics

Journal entries are probably the most important part of any financial accounting class. They are the language of accounting. This is a journal entry. It describes a transaction. The entry above tells

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The Accounting Equation

Accounting is all about balance. Each time we engage in a transaction, there are at least two things that are happening. Usually, we give up something to receive something we need. For example, when you

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