Tag Archives: #TransactionAnalysis

What is the difference between books of Accounts and Financial Statements?

Books of Accounts and Financial Statements Introduction In the world of finance and accounting, two terms frequently arise: Books of Accounts and Financial Statements. Both are essential for businesses, yet they serve different purposes and have distinct characteristics. Understanding the difference between these two is crucial for business owners, accountants, and stakeholders alike. 1.… Read More »

What are the different types of financial transactions and its effects to the assets, liabilities, and owners equity?

What are the different types of financial transactions and its effects to the assets, liabilities, and owners equity? Financial transactions are the backbone of any business’s accounting system. These transactions impact a company’s financial statements, affecting its assets, liabilities, and owner’s equity. Understanding these effects is crucial for accurate financial reporting and analysis. Types of… Read More »

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