Maintaining business records is prerequisite in the business world. This will help you in many ways for instance, to measure business performance, fulfill your business requirements, etc., but it depends upon on what records you keep and how. In this slide you will get the detail information about all these including the objectives of accounting, basic accounting equation and its assets.

1. Are You Losing Money ???
Overview For Beginners
to learn
Record Keeping

3. To Make Informed
decisions
To comply with Legal
Business
To show your Business
position

4. To Plan Business future
To Measure Business
Performance
To fulfill Your Business
Requirement

6. Legal
Business
Records
Property
Records

7. Correspondence
Records
Employment
Records

9. Transaction
Journal
Ledger
Trial Balance
Financial
Statement

11. Maintenance of records of business
transactions
Calculation Of Profit Or Loss

12. Depiction Of Financial Position
Provide Information to the users

14. Understandability
Reliability
RelevanceComparability

16. Liability
Equity
Assets

18. Cash
Accounts
Receivable
Inventory
Prepaid
expenses
Plants

19. Equipment
Buildings
LandOffice
Supplies
Investments

21. Notes
Payable
Long
term
debt
Unearned
Fees
Accounts
Payable

23. Invested
Capital
Retained
EarningsSurplus

24. Steps For accounting Process:

25. 1. Identify and analyze the transaction

26. 2. Recording Journal entries

27. 3. Posting in the ledger

28. 4. Prepare the unadjusted trial balance

29. 5. Make adjusting entries

30. 6. Prepare the adjusted trial balance

31. 7. Prepare financial statements

32. 8. Close the entries

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