Curated By: Eric Hartel
The world of financial accounting can seem daunting – unfamiliar terms, complex regulations, and plenty of math to boot. However, accounting is also the field that tracks how a business is performing and helps managers gauge their company’s financial health. For this reason, accounting is often deemed “the language of business” and for both accountants and non-accountants alike it is important that business leaders have at least a basic grasp of accounting concepts.
While there are a variety of nuances to accounting regulations that specialists worry about, there are also many basic terms and concepts that can drastically simplify and organize your financial records once you understand how they can work together to create organized reports. Although accounting can be difficult, it is essentially a way to manage the movement of numbers and record how this money is spent, invested and earned.
This learning path will teach you the nuts and bolts of accounting by exposing you to basic terminology and ground rules. You will learn what a journal entry is, how to create one, and how to avoid mistakes.