The Fundamentals and Principles of Accounting

This text is designed to help you master the accounting concepts that are necessary to succeed in accounting at the university level. You will learn most of the major accounting concepts that you will encounter in Accounting 1 and Accounting 2. More importantly, you will learn and understand the language of accounting, which is necessary to succeed at all levels of accounting that are not covered in this text.

You will be provided essentially all of the same knowledge that you would receive by reading your beginner level accounting textbooks in a concise and understandable manner. This is an excellent aid for prospective accounting students to gain a head-start on their studies or for any student that is struggling with any of the basic concepts of accounting. It is also useful as a quick resource for an explanation of a topic.

The following topics are covered: debits and credits; balance sheets; income statements; assets; liabilities; equity; revenue; expenses; accrued expenses; prepaid expenses; contra accounts; contra revenue; depreciation; straight-line depreciation; double-declining balance depreciation; journal entries; general ledgers; and trial balances.