What did you learn about accounting 1?

Answer 1

My first accounting class was a basic manual accounting course. The class was loaded with information on understanding how accounting works. First I learned the accounting formula. We learned about T accounts, how to post, how to write out the different financial statements. We learned about accounts receivable, Accounts Payable, long term and short term liabilities. We also learned about interest rates and how to apply payments. Basically I learned how to keep the basic books manually. It is a good class to take even if you are not majoring in accounting or even business. I used what I learned on a daily basis to see if my payments were applied to my bill correctly and to have a better understanding when customer service is explaining a bill to me.