1st Bac - Accounting Basic Principles
https://www.youtube.com/watch?v=dbhZSrTdFlU&ab_channel=EduCounting Accounting basic principles To compare two or more companies that are engaged in the same commercial activity, it has been determined that the accounting processes of the financial accounts of a business are performed in a standard way, that means, that the financial reports show the same analysis criteria. This is helpful for when the entrepreneur needs to present financial information to government entities. Accounting formats The development of the accounting process of the financial accounts of a business revolves around an accounting principal universally accepted. This is called a double-entry. Debit: Increases in an account (received money) Credit: Decreases in an account (paid money) Debit and credit of a financial account When we talk about a financial account, it refers to a place with a specific name where we keep records of financial transactions that can increase or...
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