Thursday 16 April 2015

Lesson #2 - The 5 Accounting Elements That You MUST Know - An Introduction

Let's get started...


The first step in understanding accounting is to know the 5 "Elements", let's call them "Teams". Just like there are 4 different "Houses" in Harry Porter i.e. Gryffindor, Hufflepuff, Ravenclaw and Slytherin...


...you have 5 "Elements" or "Teams" in accounting. And they are, drum roll please...

1. ASSETS

2. LIABILITIES

3. EQUITY

4. REVENUE

5. EXPENSES

1 comment:

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