Accounting 101

Anyone who’s worked in an office at some point or another has had to go to accounting.

They’re the people who pay and send out the bills that keep the business running. They do a lot more than that, though.

Sometimes referred to as “bean counters” they also keep their eye on profits, costs and losses. Unless you’re running your own business and acting as your own accountant, you’d have no way of knowing just how profitable – or not – your business is without some form of accounting.

Table of Content

Introductory ....................................... 4
Chapter 1: Accounting Principles ................... 5
Chapter 2: Basic Accounting Principles ............. 6
Chapter 3: Accounting - All Businesses Need One .... 7
Chapter 4: All About Personal Accounting ........... 9
  Income: .......................................... 9
  Personal Exemptions:.............................. 9
  Standard Deduction: ............................. 10
  Taxable Income: ................................. 10
Chapter 5: Everyday Accounting .................... 10
Chapter 6: Online Accounting ...................... 12
Chapter 7: Understanding Accounting Vocabulary .... 14
Chapter 8: Personal Accounting .................... 17
Chapter 9: Accounting and Accountancy ............. 19
Chapter 10: Accounting For Home Based Businesses ...21