Financial Accounting

A complete beginner-to-intermediate course in financial accounting for school and college students, with worked examples, ledger drawings and practice questions on every topic.

The course explains both ways of learning debit and credit: the traditional golden rules for personal, real and nominal accounts, and the modern accounting-equation rules (DEAD CLIC). It shows step by step why the two methods always give the same journal entry.

What's inside
• Accounting basics: key terms, accounting concepts (business entity, money measurement, going concern, matching) and conventions (accrual, consistency, prudence, materiality), and the accounting cycle
• The accounting equation: transaction analysis tables and the expanded equation
• Debit and credit rules: double entry, T-accounts, kinds of accounts, golden rules and modern rules compared
• The journal: source documents and vouchers, simple, compound and opening entries, with a full worked month
• Ledger and trial balance: posting, balancing accounts, the trial balance, errors, the suspense account and rectification of errors
• Cash book and bank: two- and three-column cash books, trade and cash discounts, bank reconciliation statements with a worked example
• Subsidiary books: purchases and sales books, returns books with debit and credit notes, and the petty cash book
• Adjustments: depreciation (straight-line and reducing balance with worked tables), bad debts and provision for doubtful debts, outstanding and prepaid expenses, accrued and unearned income, inventory valuation (FIFO and weighted average, lower of cost and net realisable value)
• Final accounts of a sole trader: trading account, profit and loss account and balance sheet, plus a full example with adjustments and its solution
• Ratios and glossary: gross and net profit margin, return on capital employed, current and quick ratios, inventory turnover, debtor days, and a searchable glossary

One small business is followed from its first journal entry through the ledger and trial balance to its final accounts, so you can see how every step connects.

Features
• 45 topics in 10 sections, with tables laid out for phone screens
• Practice questions with answers you can reveal on every page
• Search across all topics
• Dark mode
• Works offline, with no account needed
• Available in 8 languages: English, Español, Português, Français, Deutsch, العربية, हिन्दी and Bahasa Indonesia

Uses IFRS-neutral wording and notes where local practice differs (for example LIFO under US GAAP). Amounts are in dollars for illustration; the methods work in any currency.

This app is an independent study aid. It is not affiliated with any examination board or standard-setting body.