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Once you become familiar with some of these terms and concepts, you will feel comfortable navigating through the explanations, quizzes, quick tests, video training, and other features on AccountingCoach.com.

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Here are some examples along with links to the related Explanations found on AccountingCoach: The amount of cash and cash equivalents should be supported by bank reconciliations for the company’s bank accounts.

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Introduction. The common rules that apply to the financial statements distributed by a U.S. company to external users are referred to as accounting principles, generally accepted accounting principles, GAAP (pronounced gap), or US GAAP. These rules or standards allow lenders, investors, and others to make comparisons between companies’ financial statements.

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