The Accounting 1 Study Brief is intended as a concise overview of basic accounting concepts that business professionals, including employees, managers and students need to know. This short topical outline complies a wealth of information into one convenient reference resource with the most up to date information and figures found in current textbooks and online resources. This overview of accounting is perfect for beginners, students enrolled in an introductory accounting class, as well as anyone who needs a quick refresher of fundamentals after some time away from the subject. Accounting 1 focuses on these major topics: What is accounting, components of accounting, historical developments in accounting, who are the users of accounting information, forms of businesses that use accounting, regulatory bodies in accounting, types of accounting, accounting assumptions, accounting principles, accounting conventions, ethics and professional conduct, analyzing and recording transactions, understanding debits and credits, and industry trends and current updates. The accounting process is clearly explained step-by-step with detailed sections on standard financial statements (the Balance Sheet, the Income Statement and the Statement of Cash Flows). Having at your fingertips for quick and easy reference, the numerous real-world examples of accounting concepts and functions is a major benefit of this Study Brief.  Study Briefs are concise and visual academic outlines that help students and professionals master key concepts quickly and accurately. Don’t spend your valuable time researching on multiple websites, paging through books or investigating reference sources. Our experts have done the research for you! Compiled in one convenient guide, you will find up-to-date and reliable sources presented in a visual and easy to follow format for everyday use. Choose from our ever-growing library of need-to-know topics in the following subject categories: Business, Math, Reference, Science, Language, History and Technology!