Introduction to accounting


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A system of recording financial transactions in the form of financial statements.

Companies use it to:

  • Bill clients

  • Keep track of asstes and liabilities

  • Determine profitability

  • Track the flow cash

3 Remarkable concepts:

Assets: something valuable belonging to a person or organization such as cash, properties, investment or inventory.

Liabilities: the responsibility of a person, business, or organization to pay or give up something of value.

Equities: the value of a company.

**BONUS: **

Prepaid expense: future expenses that have been paid in advance.
Accounts receivable: is the balance of money due to a firm for goods or services delivered or used but not yet paid.
Accounts payable: is an account that represents a company’s obligation to pay off a short-term debt to its creditors or suppliers.
Notes payable: represents the amounts that remain to be paid.
Accrued expenses: is an accounting term that refers to an expense that is recognized on the books before it has been paid.
Deferred revenue: is a liability on a company’s balance sheet that represents a prepayment by its customers for goods or services that have yet to be delivered.
Common stock: are shares of ownership in a corporation that afford their holders voting rights.
Retained earnings: is the amount of net income left over for the business after it has paid out dividends to its shareholders
Shares: are units of equity ownership interest in a corporation that exist as a financial asset providing for an equal distribution.

  • Assets = Liabilities + Equity

  • Equity = Assets - Liabilities

  • Liabilities = Assets - Equity

This looks white awesome. I’m more than ready to begin—best wishes to everyone.

Hi there guys;

I am just starting this new course. Finance has not been my cup of tea for long. However, I see finance everywhere.


i don't understand nothing , actualy i am in a intermdial level but that see it good !!!
In a nutshell : - Assets puts money on your pocket.( They generate incomes) - Liabilities put money out of your pocket.( They create expenses.

Excellent class

very good

This is totally new for me.

Accounts Receivable: Any amount of money owed by customer for purchases made on credit. This is reported as a current asset on the balance sheet and it’s an important factor in a company’s Working Capital.






I’m not an accountant but I’m taking this course because I want to improve my vocabulary, my listening and why not, learn new important things that could be useful in real-life like know the difference between assets and liabilities or what is equities.

Interesting course

One group of telegram or whatsapp for talk about any topic??

This will be a great powerful course!! let’s go

A lot of things I didnt know!! Look forward to know more!

As a project manager this is information results rewarding

We live in an accrual World.
This will be my favorite course ever. Lets Do It Folks !!!