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Basic Accounting Concepts - Definitions

NVArchitectNVArchitect subscriber Posts: 12

I have been an entrepreneur for over 20 years, having started 13 businesses and so I have been forced to struggle with the beast called accounting. Even though I studied it at Uni (taking 10 years to complete a 6 year course) it was still something that did not fit well with my entrepreneurial flair. But, in time I came to understand its language and see its potent potential to add business acumen to my entrepreneurial endeavours.


I now embrace accounting completely and use it extensively in both the establishment of my new ventures as well as the day to day growth of my enterprises. I plan to write a series of articles on `accounting for entrepreneurs` in conjunction with a qualified accountant and put my knowledge and experience of accounting into plain English that hopefully budding entrepreneurs can use.
Here is my first in the series -

Accounting Definitions 1 

 on What is accounting? How can entrepreneurs benefit from accounting? What is the difference between a bookkeeper and an accountant? What do they mean by Management Accounting and Financial Accounting. I hope it helps.

NVArchitect1/14/2009 6:04 AM


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    BookerBrinleyBookerBrinley subscriber Posts: 0
    Accounts plays a big role in business enterprises. It is necessary for a business to manage accounts effectively. Thanks for providing the basic accounting concepts.
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    brookerryanbrookerryan subscriber Posts: 1
    Accounting and finance are the two basic requirements of business, if your company have capability to manage these two aspects then nothing can affect your business in long term.
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    movingsoftwaremovingsoftware subscriber Posts: 0 Member
    Accounting is the pulse of a business. Accounting is important for businesses for several reasons. We need accounting because it's the only way for business's to grow and flourish. And, there are several accounting softwares available which can make things simple for your business.
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