A simple reference guide to help students learn the accounting equation, debit and credit rules, primary accounts, and financial statement relationship….all on just one page. An excellent teaching aid for accounting principles course instructors! I use this guide to help reinforce concepts presented throughout my accounting principles courses. Students really love this help sheet!
Mohammad Bashir. Following what we learned on our first day, I decided to pin information about product vs period costs. Product costs are any expenses derived from the manufacturing of products (direct materials, direct labor, manufacturing overhead). Period costs are expenses not necessarily related to the manufacturing of products. Usually period costs are general, administrative, and selling costs.