Tag Archives: Balance Sheet

For many, the world of accounting can seem like a complex maze of numbers and jargon, but at its core, it’s simply the language of business. Understanding fundamental accounting principles is crucial for anyone, whether you’re managing a small shop, aspiring to be a financial professional, or simply want to …

Running a business or learning accounting and feeling overwhelmed by all the “numbers talk”? Don’t worry — we’ve got your back! Whether you’re a total beginner or halfway through your accounting course but still confused, this guide will break down the Accounting Cycle in a way that finally makes sense. …

The Accounting Cycle is a topic that varies according to the level of accounting that you are studying or doing for a business. If you research Accounting Cycle, you would be bombarded with versions that might make your head spin. This article focusses on basic accounting for small business owners …

The Balance Sheet is the next step in the Accounting Cycle after the Income Statement is completed. It is one of 3 financial statements that is prepared by an accountant. The other 2 are Income Statement and Cash Flow Statement. It reports the assets, liabilities, and capital of a business. The …

The Trial Balance is the 4th step in the Accounting Cycle. It is the nail-biting moment for students of accounting. It tells you a lot about your performance thus far, and can leave you feeling frustrated or relieved when you’re done. Writing up a Trial Balance is very simple. It …