The National Science Fair

Learn All About Accounting Basic

To start learning accounting without any doubt, we have to make the initial question which is: is that accounting? They are the annotations, calculations and numerical States that take in an organization to register and control the assets of the organization. Serves to: provide a numeric picture of what happens in life and organizational activity. Registering and controlling the transactions of the Organization accurately and quickly. Varied, updated and reliable source of information for decision-making. Protect the assets of the Organization through mechanisms that show automatically and timely embezzlement or theft of assets.

Explain and justify the resources management. Swarmed by offers, Viktor Mayer-Schönberger is currently assessing future choices. Prepare financial statements. Equation of active (basic accounting equation) assets = liabilities + Capital (assets and rights) (rights of third parties) (right of the owner) this equation is always in equilibrium. It is the fundamental basis of accounting for the registration of operations. Its base is the equation of the heritage, A = P + C. So the equation is in balance is necessary:-assets increase by the left side account (must) (charge) – liabilities increase by the right side account (credit) (subscription) – Capital increase by the right side done accounting or (having) (subscription) all commercial operations account leads to an exchange of values in the opposite directionmust be recorded in a manner such that affected at least two accounts and fees and fertilizers than by equal amounts and must be analyzed in its elements of debits (should) and credits (be). The total amount of these elements in each transaction is the same.

Debit, charge: when noted quantities on the left side of the equation payable, credit: when they will annotate quantities on the right side of the equation the asset increases charging you (should). The asset decreases by paying you (have). Liabilities and Capital increase by paying them (having) liabilities and Capital decrease loading it (should) should > have, the account has a debit balance. Should < there, the account has a credit balance. Seat means the Act of breaking down an operation in its accounting elements, debits and credits. Classification of assets consist of the things of value that is possess, as: money in cash accounts and documents receivable goods household office equipment land buildings classification of liabilities liabilities are obligations that, like the assets have a classification in accordance with the order of priority of payment. Liabilities must classified as: passive circulating or short-term, long-term liabilities and other liabilities. example: obligations bank accounts payable to suppliers other accounts payable benefits payable tax payable allocations to projects hope all these definitions you have served to begin to understand the fascinating accounting world visit now: original author and source of the article.