Welcome to Accounting101.org.
The goal of this site is to make learning accounting easier, and to provide a helpful resource for anyone who wants a better understanding of how accounting works.
Choose a topic below to get started…
What Is Accounting?
Accounting is the language of business… it allows us to understand what is going on with every part of a business in a systemized, and organized way.
Introduction to Accounting
In this section you’ll learn the basics of accounting such as the accounting equation, the balance sheet, income statement, and cash flow statement.
Balance Sheet Example
This video and explanation will show you how a balance sheet is structured, and will help you understand what the different sections of the balance sheet mean.
The Best CPA Review Courses
Read my reviews of the best CPA review courses.
10 Comments
Ahmed El Borno
July 14, 2012Good educational material
mohsin
January 31, 2013nice explanatioon
Amy
August 28, 2012I hope its easy.
gopal
December 16, 2012hi…. i’m gopal i want to know how i can prepare cost sheet from financial statement of a company,,
Stacy
February 11, 2013Here is financial statement information on four not-for-profit clinics:
Pittman Rose Beckman Jaffe
Dec. 31, 2010:
Assets $80,000.00 $100,000.00 g. $150,000.00
Liabilities $50,000.00 d. $75,000.00 j.
Equity a. $60,000.00 $45,000.00 $90,000.00
Dec. 31,2011:
Assets b. $130,000.00 $180,000.00 k.
Liabilities $55,000.00 $62,000.00 h. $80,000.00
Equity $45,000.00 e. $110,000.00 $145,000.00
During 2011:
Total Revenues c. $400,000.00 i. $500,000.00
Total Expenses $330,000.00 f. $360,000.00 l.
Fill in the missing values labeled a through l.
Stacy
February 11, 2013I only don’t understand how to figure out total revenue and total expense with the information given
izzuddin
February 12, 2013can someone explain what is notes payable
akram
February 19, 2013Assume that Lehman Company uses a periodic inventory system and has these account balances: Purchases $404,000; Purchase Returns and Allowances $11,000; Purchase Discounts $7,000; and Freight-in $16,000. Determine net purchases and cost of goods purchased.
carlos
October 6, 2014Hi When you say do the questions are you referring to the exam questions and not the proficiency questions right, as the proficiency questions are not included in the test bank right?
Nate
October 10, 2014Carlos- correct, I’m referring to the ‘exam questions’. The proficiency questions I didn’t use much at all.
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