3 Golden Rules Of Accounting Every Business Owner Should Know
Accounting is a process of identifying, analyzing, recording, and communicating the required information about the company’s financial situation. And, in return, helping the company’s decision-makers to make wise decisions. Before we talk about the Golden Rules of Accounting, let’s walk you through some basic terms. They are as follows: Entity is defined as an economic unit that differentiates the accounting of certain transactions from other entities. The main types of entities are – partnership, corporation, and sole proprietorship....