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Summary Of Bookkeeping

Quick Bookkeeping Insights > Basic Topics
Quick Summary of Bookkeeping
This video explains the key components of bookkeeping and accounting.

The topics discussed include:
  • Bookkeeping Defined - what is bookkeeping and accounting ?
  • Profits & Losses - what are profits and losses and how are they determined ?
  • Bookkeeping Records - What records are required to properly perform the bookkeeping tasks namely journals and the general ledger ?
  • Transactions - the starting point for entering financial information.
  • Accounts - the framework used for recording, classifying, and summarizing transactions.
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