See Lesson 1: Introduction to Accounting Accounting is a financial system that records transactions in accounts. In accounting, the five types of accounts are: 1. Assets – resources owned by a business; what the company owns 2. Liabilities – debts of the company; what the company owes 3. Equity– claim on the … See more Financial accountingis the process of recording, analyzing, and summarizing financial transactions. Financial accounting uses the five types of accounts to record all the transactions. In accounting, the five … See more See Lesson 2: Recording Business Transactions Recording transactions in accounting uses a system called debits and credits. You need to learn the accounts and how to … See more See Lesson 3: Adjusting Entries Adjusting entries are entries made at the end of the period to update the accounts. See more See Lesson 4: Accounting for Merchandising Companies A service company sells a service to its customers. A merchandising company sells products. Accounting for merchandising companies that sell products is … See more WebMar 1, 2024 · Accounting 202: Intermediate Accounting II. 53 ratings. Course type: Self-paced. Available Lessons: 74. Average Lesson Length: 8 min. Eligible for Credit: Yes. Earn transferable credit by taking ...
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