Accounting Lessons

How to Record Accounting Journal Entries

Lesson 3 In The Basic Accounting Series: Learning how to record accounting journal entries is the foundation of any business accounting course. Let us show you the steps and some examples! If you are a student, small business owner, or just wanting to brush up on your accounting skills, understanding the basic accounting concepts of debits and credits and double-entry accounting will be the …

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Understanding Financial Statements

Lesson 5 in the Basic Accounting series: Understanding financial statements is one of the keys to your small business success. Sadly, many entrepreneurs fail not because they lack knowledge of their products and determination… but, because they failed to realize the importance of preparing and analyzing their financial statements. Analyzing and Understanding Financial Statements: Financial …

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Financial Ratio Analysis

Lesson 6 in the Basic Accounting series: Financial ratios and performing a financial analysis using your financial statements can help to construct a successful small business.  Financial Ratio – Comparative Analysis Comparing your current financial statements to: previous years previous months previous quarters …can tell you how your business is doing financially and if it …

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How to Figure Your Break-Even Point

Lesson 7 in the Basic Accounting series: Your small business’s break-even point is the point where the total amount of revenue received equals your total costs associated with the sale of your product or service or a even simpler accounting definition is the point where your business does not make a profit or suffer a loss. Determining …

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