Accounting Principles
Development and scope of accountancy Accounts and their purpose Classification of accounts Double entry bookkeeping Books of account Applying accounting principles—the original entries Applying accounting principles—the ledger records Applying accounting principles—summarizing results Columnar books Opening, operating and closing the books The trial balance Economic summary The balance sheet Single entry bookkeeping Continental system of bookkeeping Depreciation Methods of computing depreciation Labor-saving devices Internal checks
As business becomes more complex we are more and more dependent upon accounting methods to show us the trend of the individual business in which we are interested.
Hence a knowledge of accounting principles is indispensable. Yet, even among experienced bookkeepers, comparatively few have a clear understanding of the principles which underlie all correct methods of keeping financial records.
This section of the Course, therefore, starts with a clear explanation of the fundamental principles of bookkeeping, and progresses step by step until it reaches the most complicated cases of partnership and corporation accounting.
Within recent years the great importance of proper accounting methods in the conduct of business has come to be fully recognized.
This section of the Course should enable any executive or accountant to determine what accounting methods are best adapted to his own line of business.