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Accounting Basics

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Accountancy is the standardized process of communicating financial information about a business entity to users such as shareholders and managers. Accounting is the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and Read more ›

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Accounting Basics : Debit and Credit

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Debits (abbreviated “dr”) and credits (abbreviated “cr”) are unique accounting tools to describe the change in a particular account that is necessitated by a transaction. In other words, instead of saying that cash is “increased” or “decreased,” we say that Read more ›

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