Get a clear understanding of Bookkeeping 101 with this practical guide for Canadian business owners. Learn the basics of recording transactions, managing cash flow, staying compliant with CRA requirements, and choosing the right bookkeeping methods and tools. Whether you're a startup or a growing business, this guide helps you build accurate financial records and make informed decisions. Discover when to DIY and when to outsource, plus how expert support like Mehra CPA can simplify your bookkeeping.

Want To Learn Accounting, Bookkeeping, Finance, and Financial Analysis on Online?

Do you want to learn accounting, bookkeeping, business analysis, finance, financial analysis. You want to learn how to create and prepare balance sheet, income statement, cash flow, do financial analysis, business analysis, and economics?

Then you are it the right page. I am Mark Joseph Digamon I will teach you all things you want to know about accounting, bookkeeping, finance, financial…

Recently a small business owner asked for an hour of basic accounting consulting time to help her with her “out of control expenses.”  To prepare for the meeting I asked her to send me her financial statements. Imagine my surprise when she said she doesn’t have a bookkeeper and therefore has no financial statements.

What do you think of when you hear: Accounting 101 The Balance Sheet as a small business owner?  The answer we receive most often is: I need to know where my money is going. 

So, let’s use an extreme analogy; as a small business owner, your business finances are your blood and your books are your veins; good bookkeeping keeps your business flowing. 

Accounting 101 Financial Terms - The best way to understand the most important accounting 101 financial terms is to look at the three main financial statements.

Work your way through each of these statements, understand the terms in bold and you will understand accounting 101 and know how to keep score in your business.

You win when there is Profit at the end of the month or year and Long Term Equity Value when you are ready to cash out. That is accounting 101.