What is Financial Accounting and Bookkeeping

This is the first in a series of eBooks called Introduction to Financial Accounting. The learning objectives of this eBook are to introduce integral accounting vocabulary, concepts and principles to give a foundation for learning accounting. Using conversational style language, the discussion on the differences in financial and managerial accounting give the reader a clear understanding of what financial accounting is. The book provides step-by-step guidance through the accounting equation: (1) how to use the accounting equation in analyzing business transactions, and (2) using that information to later prepare financial statements and how those financial statements are linked together. The eBook contains a quiz, example exam questions and a glossary of terms.