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FINANCIAL ACCOUNTING - Coggle Diagram
FINANCIAL ACCOUNTING
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What is Accounting?
Notes: The classifying and recording of financial transactions, the presentation and interpretation of transactions to assess performance over a specific period of time
My definition:the process of keeping financial transactions within businesses & personal accounts to manage spending/buying
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Accounting equation
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the relationship between the businesses assets, capital and liabilities
Challenges/Difficulties
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From not being good with them in secondary school this made it difficult at the start as I wasn't sure of them
I am not the best with numbers but I am getting used to them now with all my practicing of questions
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