The purpose if this website is to explain how double entry accounting works, how it is designed and how it is structured and why debits must equal credits. Once you understand the basic structure and principles of accounting, you will have a good, functional knowledge and be able to understand accounting software, financial statements and reports.
Basic Accounting concepts and principles are universal. Specific industries have their own unique differences and rules but with a basic understanding, the differences are easier to navigate.
While there is no substitute for a good accountant, there is also no substitute for the power of understanding the numbers on your own.
Type of Website: Information Site
Size of Website: 26-100 pages
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Author Submitted Keywords: Debit, Credit, Double Entry Accounting, Income, Balance Sheet, Profit, Loss, Asset, Liability, Expense, Sales