Business 1

About this book

Accounting turns business activity into information that people can use. Business 1: Basic Accounting introduces the principles and processes behind recording, organizing, and reporting financial transactions in service and merchandising enterprises.

Learners explore the accounting equation, major accounts, debit and credit rules, source documents, and books of accounts. The book follows the accounting cycle from transaction analysis and journal entries through adjustments, financial statements, and closing procedures. Work with perpetual and periodic methods develops understanding of merchandising transactions, while complete accounting practice sets bring the stages together in a coherent business context.