Learning accounting has never been easier. Record transactions in the accounting equation and easily trace them to the financial statements using a color-coded accounting equation. Each transaction from a simple accounting problem can be input on the entry page using the accounting equation: Assets = Liabilities + Shareholders’ Equity.
When you input a transaction, the accounting equation has to be in balance or the transaction cannot be added. This keeps students from making simply entry errors that can be difficult to find and discourage students trying to master accounting.
After the transactions are entered, you’ll see them displayed on a color-coded table that makes it easy to see how the four financial statements are constructed from the transactions. Then, you can view the four financial statements and see how they result from the transactions you entered. Any of the statements can be exported as a PDF file.
This app will be invaluable to anyone who is taking the first course in accounting. Accounting professors can use the app as a teaching tool to show students how transactions flow into the four financial statements. The color-coding helps students see the relationships between the financial statements.