1st Bac - Main Accounts´ Management in Accounting
Identifying beforehand the different accounts involved in a named financial operation is very useful for understanding the balance sheet . When the entrepreneur has timely information on the movement of the business main accounts , they are in a position to make a good financial diagnosis by correcting not only the weaknesses, but also by enhancing the strengths identified in the area of corporate finance. A chart of accounts (COA) is a list of financial accounts set up, usually by an accountant, for an organization. Under the systematic process of accounting, these interactions are generally classified into accounts. There are seven different types of accounts that all business transactions can be classified: Assets Liabilities Equities Revenue Expenses Gains Losses What Is a Balance Sheet ? The term balance sheet refers ...