Accounting Fundamentals lesson 1

Accounting Fundamentals lesson 1 - Accounting Fundamentals:...

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Accounting Fundamentals: Lesson 1 (printer-friendly version) Your Instructor: Charlene Messier INSTRUCTIONS: To print this page, wait for the page to fully load. Once the document is ready to print, simply click your browser's File menu and choose Print . To save this page, click your browser's File menu and choose Save As . Select a disk drive and folder to receive the file, and change the name of the file to less01.htm . To view the file while you are offline, just go to the drive and folder you selected when you saved the file and double-click the file named less01.htm . Your browser will start and you will have access to the file. Chapter 1 Introduction We all take in money from one source or another and we all dispense of our money in one way or another. This is true our entire life. We move money from our left pocket to our right pocket and back and forth trying to keep everyone, especially ourselves, content. Sometimes the pockets are fairly full and feel good. Other times, the pockets are almost empty and we don't always know why or how they got so empty. The relevance of this fact is a financial balancing act. How can you best track the money you take in and the money you give out? If you are like 99% of the population, you do not track every dollar that leaves your household. It is sometimes these "little" amounts that add up quickly: your daily coffee, newspaper, lunch, postage stamps, etc. Before you realize it, those little things have taken a considerable chunk out of your income. When I graduated from business college and landed my first job, I began to realize that my accounting classes were very important to me. I quickly learned that I needed a budget and incorporated some of my accounting skills to obtain that goal. I have always enjoyed working with numbers in a concrete way. Give me numbers, and I can usually figure out the solution to any problem. The preciseness of having only one correct answer has always intrigued me. To that end, I have spent many hours looking for an error, sometimes only cents, to make the problem equal. Presently, as a 20-year-plus business education teacher, I'm always pleased and proud to see some of my students blossom in this area and go on to acquire degrees and/or jobs in the accounting field. From the easy task of adding a row of numbers to the complex job of determining financial reports at the end of the year for a business, accounting continues to be a challenging yet satisfying and very important part of my life. I hope to instill this love of accounting in you, the students in my online Accounting Fundamentals class. This course will teach you how to track each and every dollar that comes into and goes out of your household. This course is based primarily for small businesses that require financial records with which to make decisions. However, all the principles used throughout this course can be tailored to single households, with very few adaptations. Tracking all your income and expenses
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This note was uploaded on 10/12/2009 for the course ENGL English1 taught by Professor Caggiano during the Summer '09 term at Santa Monica.

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Accounting Fundamentals lesson 1 - Accounting Fundamentals:...

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