Course complete

Key takeaways

• Bookkeeping records every money movement; accounting turns those records into decisions.
• Assets = Liabilities + Equity, and every transaction keeps the equation balanced.
• Debits increase assets and expenses; credits increase liabilities, equity and revenue.
• Accrual accounting records revenue when it is earned; cash accounting records it when it is received.
• Keep business money separate, save receipts and reconcile every month.

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