Accounting Summary

Accounting Summary

What is an Accounting?

Accounting is method of recording operational activities of the business in a way it is understand by people. This data is arranged, organized, and structured in a way that people can analyze it and make decisions by using them and forecast plans for upcoming business activities. It is usually called book keeping. Accounting represents data in the form of financial statements.

Closing Entries

Closing Entries are the recording accounting entries which are made in the end of an accounting period and it adjusts the temporary entries into permanent ones. In business operations if the transactions are made ...