Learning Basic Accounting Principles

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The basic principles of accounting are established by the Generally Accepted Accounting Principles and include being able to record revenue and expenses. Accounting for a business should always include records of transactions for a given time period. Find out how to learn accounting principles with information from an accounting professor in this free video on accounting.

Part of the Video Series: Accounting Careers & Information
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Video Transcript

Hi, my name is Shawn Jones, adjunct professor here at Argosy University. Today we're talking about learning the basic principles of accounting. Simply put, the basic principles of accounting are established by GAAP, which stands for Generally Accepted Accounting Principles. These principles help establish how a company or organization record it's financial data. Some examples of these basic principles include how being able to record revenue and expenses. Simply put, the revenue and expenses for a given company need to be recorded within the same time period, or, in other words, being able to match the revenue and expenses for a given day, week, month, or a year within the same time frame. These principles can be learned in many different ways. One way, in which we'd suggest, would be coming here to Argosy University. You can visit our website, argosy.edu, or come to our Salt Lake City campus to take one of our classes to learn these basic and important principles.

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