Basics
30 Basic Accounting Terms
Basic accounting terms, acronyms, abbreviations and concepts to remember Check out these basic accounting terms and start to…
August 16, 2021 · Boomi NathanAuthor: Boomi Nathan
J. BoomiNathan is a writer at SenseCentral who specializes in making tech easy to understand. He covers mobile apps, software, troubleshooting, and step-by-step tutorials designed for real people—not just experts. His articles blend clear explanations with practical tips so readers can solve problems faster and make smarter digital choices. He enjoys breaking down complicated tools into simple, usable steps.
Basics
How to analyze financial reports to make informed decisions
So you might be asking yourself, why did we just do all of that? Seems like a lot…
August 16, 2021 · Boomi NathanBasics
Why monitoring Cash Flow is important for business
The cash flow report is the third component of a company’s financial statements. The report portrays how a…
August 16, 2021 · Boomi NathanBasics
How to create Balance Sheet
The Balance Sheet attempts to show how much the business is worth. It does this by illustrating the value of…
August 16, 2021 · Boomi NathanBasics
How to produce a Profit and Loss Statement
A Profit and Loss Statement illustrates how much profit you made in any given period, usually it is…
August 16, 2021 · Boomi NathanBasics
How to prepare trial balance
The Trial Balance is, as the name suggests, a table where we lay out all our debit accounts…
August 16, 2021 · Boomi NathanBasics
How to calculate Depreciation (Balance Day Adjustment)
Earlier we discussed the term capital expenditure. Let’s explore this a little further. Capital expenditure is when you purchase an…
August 16, 2021 · Boomi NathanBasics
What is Ledger & How to create One
We’ve just processed all our transactions into journals. The next step in the accounting process is entering these journal…
August 16, 2021 · Boomi NathanBasics
How to do a Journal Entry
OK soldiers. Time to do some real accounting! Everything we do from this point on will be stuff…
August 16, 2021 · Boomi NathanBasics
Basic Accounting Transactions
In this lesson, we are going to learn how basic transactions move through the accounting equation. What we…
August 16, 2021 · Boomi Nathan