Basic Accounting Tutorial

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Hello everyone

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On this occasion I am going to present a series of tutorials of Basic Accounting written for all those people who are interested in this science, art or trade. The purpose is that we learn a little about Accounting since this knowledge is necessary for all people regardless of studying this career or not, since having accounting knowledge you can know the financial statements of your business, company or personal finances. For those Steemians who are interested in learning, we will start a first phase of 5 tutorials, where the theoretical part will be included first and then the practical part.

That said, I only have to invite you to accompany me in this first phase of tutorials and at the end of these lessons we can interact in the comments or publications about some practical activities that we will do.

Next, I write the first accounting tutorial that is theoretical, I remind you that knowledge is the key to our success. Without further ado, we begin:

What is accounting?

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There are many concepts about what accounting is, I will give you some concepts of what some authors say about it and in the end together we will build our own concept from the keywords used by the authors:

In the book Basic Accounting and Commercial Documents, Ayaviri García Daniel defines accounting as the science and / or technique that teaches to classify and record all financial transactions of a business or company to provide reports that serve as a basis for making decisions about the activity.

According to César Cervantes
César Cervantes defines accounting as a series of financial processes, regardless of the type of economic entity, to record economic operations in order to issue financial statements and thus make decisions that allow achieving the objectives of the entity.

Then we begin brainstorming or keywords:

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Accounting is: a science, a technique, a series of financial processes, which allows to record, classify and provide information,

For what? to record economic operations, provide information... of the financial status of the company.
Accounting consists of the collection of financial information in order to make measures and decisions.

Now create your own concept

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Purpose

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Accounting is a branch of business activity dedicated to recording, organizing and systematizing data about the economic, financial and patrimonial reality through which economic activity is deployed.

The general principle underlying accounting is to honest all relevant information so that it is objective and truthful.

The primary purpose of this branch is to meet the information needs of business stakeholders so that they can objectively evaluate their business operations; therefore, it responds to two major demands:
The rational and efficient use of the financial resources available within an organization.

The optimization of administrative decisions to achieve optimal results from the financial point of view, as well as shareholders.

Be able to make decisions.

Classification of accounting

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Accounting can be classified in many ways. A serious basic classification:

Private accounting, which refers to the activities of an organization such as companies or educational institutions.

Public accounting, refers to government agencies and companies in whose financial statements are included within the funds of the national government.

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To finish our learning we have to:

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The purpose of accounting is to record and inform interested parties about the financial reality of their company or institution.

Accounting is basically classified into private accounting and public accounting.

Well, dear Steemit accounting students this has been all because of today's lesson, inviting you to be part of this process of teaching learning through interaction.