Fundamentals of Double-Entry Bookkeeping

Fundamentals of Double-Entry Bookkeeping explains the basic concepts behind double-entry bookkeeping. Bookkeeping is a branch of accounting that deals with the mechanics employed by accountants to record and to collate financial transactions. Double-entry bookkeeping is a time-tested and proven method of bookkeeping.

The book is geared towards entrepreneurs, business professionals, and volunteers who want to acquire essential skills required to maintain accurate books for their businesses or organizations. New accounting students may also find the explanations in this book helpful in furthering their understanding of double-entry bookkeeping. Whether you plan to use a manual (paper-based) or an automated (computerized) accounting system, a deep understanding of key double-entry bookkeeping concepts will make your job easier. The book covers the following concepts.

- Accounting Period
- Account
- General Ledger
- Financial Transaction
- Journal Entry
- Debit verses Credit
- General Journal
- Account Ledger and T-Account
- Accounting Equation
- Contra Accounts
- Cash verses Accrual Basis Accounting
- The Accounting Cycle
- Trial Balance
- Income Statement
- Balance Sheet