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Assuming the role of an accountant your new client Susie Maye needs help with setting basic accounting pratiices for her business. You begin showing her
Assuming the role of an accountant your new client Susie Maye needs help with setting basic accounting pratiices for her business. You begin showing her how to set up a transaction analysis based on the accounting equation of Assets Liabilities Owner's Assets. You show Suzie how to enter the various assets, liablitties and owners assets into the transaction analysis template demonstrating the balance based on the equation. This will help Suzie understand that through this process every financial transaction that occurs in her business must be reconciled on each side of the equation
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