Basic Financial Accounting

About Basic Financial Accounting Android App

Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
The purpose of accounting is to provide the information that is needed for sound economic decision making. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities.
Basic Financial Accounting covers all the essential aspects of Financial accounting such as

Capital, Profit & Loss.
Drawings Debtors Creditors Owned/Loaned Capital.
Income, Expenditure, Receipts, Payments.
The Need for Accounting.
Money Measurement Concept.
Basic Purpose of Accounting.
Objective of Accounting, Elements/Aspects in Accounting, Separate Entity Concept.
Basic Accounting Equation :: Capital + Liabilities = Assets.
Effect of Transactions on the Accounting Equation.
Dual Entity Concept.
Account Types or Kinds of Accounts - Personal, Real, Nominal.
Kinds of Accounts Illustration.
Rules of Debit and Credit - Accounting.
Rules of Debit and Credit Illustration.
Journal - Book of Prime Entry, Journalising.
Recording a Transaction in the Journal.
Preparing the Ledger : Posting.
Ledger Account Balancing.
Trial Balance Preparation and Purpose.
Organisational Accounting System Design.
Simple Compound/Combined Journal Entry.
Complex Compound/Combined Journal Entry.

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APP FEATURES
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Still looking for reasons why the “Basic Financial Accounting” app is unique among all other apps in the market. Here are features that make this app better than all other Basic Financial Accounting apps –
- Responsive and easy to navigate.
- Easy access to the key issues in Basic Financial Accounting.
- Share your favorite Basic Financial Accounting material with your friends and family.
- Set your favorite pictures as wallpapers or save them to Favorite
- Search Functionality helps you search terms easily
- Bookmark as favorites to access words later.
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