Lesson 3: Types of Accounts and Accounting Process

Types of Accounts and Accounting Process
Caption: Types of Accounts:
Assets, Liabilities, Equity, Revenue, and Expenses.
Accounting Process:
Collect source documents
Record transactions in the general ledger
Post transactions to accounts
Prepare trial balance
Make adjusting entries
Prepare financial statements
Make closing entries
Prepare post-closing trial balance.
Keywords: Assets, Liabilities, Equity, Revenue, Expenses, Source Documents, General Ledger, Trial Balance, Adjusting Entries, Financial Statements, Closing Entries, Post-Closing Trial Balance
Consignment Accounting: Part 1
• Consignment Accounting...
Consignment Accounting: Part 2
• Consignment Accounting...
Consignment Accounting: Part 3
• Consignment Accounting...
JOINT VENTURE: PART 1
• JOINT VENTURE::PART 1
Types of Accounts and Accounting Process
• Lesson 3: Types of Acc...
Accounting Equation Part 1
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Accounting Principles
• Lesson 2: Accounting P...
Rules of Debit and Credit
• Lesson 4:: Rules of De...
Accounting Equation-Part 2
• Lesson 6:: Accounting ...
JOURNAL
• Lesson 7:: JOURNAL
Ledger and Trial balance
• Lesson 8:: Ledger and ...
Final Account Adjustments
• Lesson 10:: Final Acco...
Trading A/c, P & L A/c and Balance Sheet
• Lesson 9:: Trading A/c...
Depreciation Accounting
• Lesson 11:: Depreciati...
Difference Between Trial Balance and Balance Sheet: Trial Balance vs Balance Sheet
• Difference Between Tri...
JOINT VENTURE: PART 2
• JOINT VENTURE::PART 2
HOW TO SOLVE FINAL ACCOUNT QUESTIONS FAST
• HOW TO SOLVE FINAL ACC...
HIRE PURCHASE: PART 1
• HIRE PURCHASE::PART 1
HIRE PURCHASE: PART 2
• HIRE PURCHASE PART 2
BRANCH ACCOUNTING: PART 1
• BRANCH ACCOUNTING::PART 1
BRANCH ACCOUNTING: PART 2
• BRANCH ACCOUNTING:: PA...
BRANCH ACCOUNTING: PART 3
• BRANCH ACCOUNTING PART 3
INVENTORY VALUATION
• INVENTORY VALUATION
Funds Flow Statement Part 1
• Funds Flow Statement P...
Funds Flow Statement Part 2 Adjustments
• Funds Flow Statement P...
Garner Vs Murray Rule: Insolvency of Partner(s)
• Garner Vs Murray Rule:...
Insolvency of All the Partners
• Insolvency of All the ...
FINANCIAL ACCOUNTING SYLLABUS OVERVIEW B.COM | B.COM (Hns)
• FINANCIAL ACCOUNTING S...
Periodic Vs Perpetual System of Inventory
• Periodic Vs Perpetual ...
Bills of Exchange Part 1
• Bills of Exchange Part 1
Bills of Exchange Part 2
• Bills of Exchange Part 2
Accounting Notes and MCQs
• Accounting Notes and MCQs
Financial Accounting Syllabus B.Com Hns
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Income Tax live class Series 1
• Income Tax live class ...
B.Com 1st Semester Syllabus II B.Com First Year Syllabus DU II B.Com Syllabus
• B.Com 1st Semester Syl... This lecture will help you to understand the Accounting Process, Accounting Definition and Types of accounts which will help you to understand further accounting framework. It is a small but effective way to learn the same.

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