Accounting For Entrepreneurs

Accounting for Entrepreneurs. What is Accounting? Four Fields of Accounting. Why do we need Accounting? The Elements of Accounting. The Elements of Accounting (Cont’d). The Accounting Equation! The Accounting Cycle Definitions. The Accounting Cycle. Analyze Transactions. Analyzing Transactions. Practical Example. Recording Transactions in Journal Entries (practical example). Posting from Journal to Ledger. Prepare Unadjusted Trial Balance. Record Adjusting Entries. Prepare Adjusted Trial Balance. Financial Statements. Income Statement. Statement of Retained Earnings. Balance Sheet. Users and Their Information Needs. Advantages & Limitations of Financial Ratios. Advantages. Limitations.