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:: Part 1  

Consignment Accounting: Part 2
   • Consignment Accounting::Part 2  

Consignment Accounting: Part 3
   • Consignment Accounting::Part 3  

JOINT VENTURE: PART 1
   • JOINT VENTURE::PART 1  

Types of Accounts and Accounting Process
   • Lesson 3: Types of Accounts and Accou...  

Accounting Equation Part 1
   • Lesson 5:: Accounting Equation Part 1  

Accounting Principles
   • Lesson 2: Accounting Principles  

Rules of Debit and Credit
   • Lesson 4:: Rules of Debit and Credit  

Accounting Equation-Part 2
   • Lesson 6:: Accounting Equation-Part 2  

JOURNAL
   • Lesson 7:: JOURNAL  

Ledger and Trial balance
   • Lesson 8:: Ledger and Trial balance  

Final Account Adjustments
   • Lesson 10:: Final Account Adjustments  

Trading A/c, P & L A/c and Balance Sheet
   • Lesson 9:: Trading A/c, P & L A/c and...  

Depreciation Accounting
   • Lesson 11:: Depreciation Accounting  

Difference Between Trial Balance and Balance Sheet: Trial Balance vs Balance Sheet
   • Difference Between Trial Balance and ...  

JOINT VENTURE: PART 2
   • JOINT VENTURE::PART 2  

HOW TO SOLVE FINAL ACCOUNT QUESTIONS FAST
   • HOW TO SOLVE FINAL ACCOUNT QUESTIONS ...  

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:: PART 2  

BRANCH ACCOUNTING: PART 3
   • BRANCH ACCOUNTING PART 3  

INVENTORY VALUATION
   • INVENTORY VALUATION  

Funds Flow Statement Part 1
   • Funds Flow Statement Part 1  

Funds Flow Statement Part 2 Adjustments
   • Funds Flow Statement Part 2 Adjustments  

Garner Vs Murray Rule: Insolvency of Partner(s)
   • Garner Vs Murray Rule::Insolvency of ...  

Insolvency of All the Partners
   • Insolvency of All the Partners  

FINANCIAL ACCOUNTING SYLLABUS OVERVIEW B.COM | B.COM (Hns)
   • FINANCIAL ACCOUNTING SYLLABUS OVERVIE...  

Periodic Vs Perpetual System of Inventory
   • Periodic Vs Perpetual System of Inven...  

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
   • Financial Accounting Syllabus B.Com Hns  

Income Tax live class Series 1
   • Income Tax live class Series 1  

B.Com 1st Semester Syllabus II B.Com First Year Syllabus DU II B.Com Syllabus
   • B.Com 1st Semester Syllabus II B.Com ...  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.