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1. PERFECT BALANCE
BOOKKEEPING
HOW TO UNDERSTAND WHAT’S
CONFUSING

2. ASSET = LIABILITIES + OWNER EQUITY

3. WHAT ARE ASSETS
• CASH
• ACCOUNTS RECEIVABLE
• INVENTORY
• FIXED ASSETS

4. WHAT ARE LIABILITIES

5. WHAT IS OWNER EQUITY

6. WHERE DOES INCOME AND EXPENSE
FIT INTO THE ACCOUNT EQUATION
ASSETS INCOME

7. WHERE DOES INCOME AND EXPENSE
FIT INTO THE ACCOUNT EQUATION
LIABILITIES EXPENSE

9. Every transaction has two sides
SALE

10. Every transaction has two sides
PURCHASE

11. REVIEW
BALANCE SHEET INCOME STATEMENT
ASSETS • INCOME/REVENUE
• CASH
• ACCOUNT RECEIVABLE
• INVENTORY
• FIXED ASSETS
LIABILITIES
• ACCOUNTS PAYABLES • EXPENSE/PURCHASES
EQUITY

12. THE PIECES MAKES THE EQUATION BALANCE
PERFECT BALANCE BOOKKEEPING