Learners examine the accounting process of recording, classifying, summarizing, interpreting, and communicating.

In this learning activity you'll identify the difference between needs and wants related to building a personal budget.

Learners examine the 10 steps of the accounting cycle. The cycle begins with the analysis of source documents and ends with the post-closing trial balance and interpreting the financial information.

Learners read an explanation of the debits and credits of accounting as they relate to T accounts and the accounting equation. Illustrated examples are provided.