Accounting Concepts And Accounting Entries In Oracle V1.0

The document provides an overview of accounting concepts including the accrual and cash basis of accounting, the accounting equation, double entry bookkeeping, and examples of common accounting transactions such as purchasing assets for cash or credit and paying expenses. It explains how to determine whether accounts are debited or credited according to generally accepted accounting principles. Examples of basic accounting entries are provided to demonstrate how transactions affect different types of accounts.