Accounting Equation

Accounting Equation

Chapter at a Glance 

•Basic Accounting Equation

•Assets

•Liabilities

•Owner’s Equity

•Investment

•Drawing

•Revenue

•Expenses

•Explanation of the transaction

 

Accounting Terms

Chapter at a Glance

3.01  Terms Used in Accounting

  3.01.01   Debtor

  3.01.02   Creditor

  3.01.03   Assets

  3.01.04   Liabilities

  3.01.05   Goods

  3.01.06   Stock or Inventory

  3.01.07   Profit

  3.01.08   Loss

  3.01.09   Expense

  3.01.10   Expenditure

3.01.11   Revenues

  3.01.12   Income

  3.01.13   Transaction

  3.01.14   Drawings

  3.01.15   Capital

  3.01.16   Cost

  3.01.17   Gain

  3.01.18   Freight

  3.01.19   Purchases

  3.01.20   Purchases Return

3.01.21   Import

  3.01.22   Freight or Carriage Inwards

  3.01.23   Sales

  3.01.24   Sales Return

  3.01.25   Export

  3.01.26   Freight or Carriage Outwards

  3.01.27   Voucher

  3.01.28   Discount

  3.01.29   Trade Discount

  3.01.30   Cash Discount

3.01.31   Account

  3.01.32   Books of Accounts

  3.01.33   Entry

  3.01.34   Debit

  3.01.35   Credit

  3.01.36   Proprietor

  3.01.37   Receivables

  3.01.38   Payables

  3.01.39   Bills of Exchange

  3.01.40   Bills Receivable

3.01.41   Bills Payable

  3.01.42   Depreciation

  3.01.43   Cost of Goods Sold

  3.01.44   Bad Debts

  3.01.45   Insolvent

  3.01.46   Solvent

  3.01.47   Book Value

  3.01.48   Investments

  3.01.49   Entity

3.01.50   Trial Balance

3.01.51   Trading Account

3.01.52   Profit and Loss Account

3.01.53   Balance Sheet