Accounting Knowledge for Software Engineers Part 2(Basic Accounting Transaction)

Hello all,

Thanks for waiting for the finest part of accounting. Today we will see how transactions are stored for basic accounting. In the first part of this series we know that accounting basically lays on equation..
↑ Asset = ↑ Equity + ↑ Liabilities
That means if equity and liabilities goes up then the asset must goes up.

A Transaction can be defined as an exchange of goods or services between two parties.
Now we show the step by step business accounting…

1. One man starts his business with 15,000$.
   So, the equation is..

   Asset(15,000$) =  Equity(15,000$) + Liabilities(0$)
   a. Bank(15,000$)

Accounting Knowledge for Software Engineers Part 1(Basic Accounting Concept)

Dear all,

Today we are going to discuss about a different subject that is accounting which is necessary to know for developing an Accounting software, Point of sale, ERP, Banking solution etc.
I divide this tutorial into some series for clearly understanding the accounting.