Accounting is basically the back bone of a Business!

May 19th, 2015
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Sam Houston State University
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Accounting is basically the back bone of a business. It gives structured financial information to those within the business, so they can make important decisions about the business. For an individual to understand how to make these decisions, they need to understand four basic principles of accounting, which are the balance sheet, income statement, equity statement and cash flow statement.

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Accounting is basically the back bone of a business. It gives structured financial information to those within the business, so they can make important decisions about the business. For an individual to understand how to make these decisions, they need to understand four basic principles of accounting, which are the balance sheet, income statement, equity statement and cash flow statement. The balance sheet shows all assets, liabilities, and owners equity within the business. The income statement shows whether the business makes a profit or loss. The equity statement shows the owners in

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