Describe transactions and source documents

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Reference no: EM132146492

Question: Essay format and APA

This week, we are discussing chapters 1, 2 and 3. A couple of things to note:

Chapter 1 Introduction to Accounting and Business

Accounting is crucial in our information age. In this chapter, we discuss the importance of accounting to different types of organizations and describe its many users and uses. We explain that ethics are essential to accounting. We also explain business transactions and how they are reflected in financial statements.

Chapter 2 Analyzing and Recording Transactions

This chapter focuses on the accounting process. We describe transactions and source documents, and we explain the analysis and recording of transactions. The accounting equation, T-account, general ledger, trial balance, and debits and credits are key tools in the accounting process.

Reference no: EM132146492

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