10/10/2025
Accounting Knowledge Concepts
What is the basic principal of accounting equation?
Assets = Liabilities +capital & equity
What is accounting?
Accounting is fighting betweens debit and credit
What is accounting cycle?
1.Journal
2.Ledger -GL & Subsidiary
3.Trial balance
4.Adjusting & Reversal journal entry
5. Income statement
6.Balance sheet
7.Cash Flow statement
8.Changes and equities
9.Adjusted trial balance
10.Notes to the accounts
11.Final Account of Financial statements preparation as per IFRS
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