Accounting Terms - EVENT & TRANSACTION Explained |

Описание: Accounting Terms - EVENT & TRANSACTION Explained
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Welcome to our latest video, Decoding Accounting Jargon: Event Transaction Explained in Simple Terms! In this informative episode, we break down the complex world of accounting jargon, focusing specifically on the concept of event transactions. Whether you're a student, a budding entrepreneur, or simply looking to enhance your financial literacy, this video simplifies the terminology and provides practical examples to help you understand how event transactions impact financial statements and business operations. Join us as we cover: - What an event transaction is and its significance in accounting - Key examples of event transactions in real-world scenarios - How event transactions differ from other types of transactions - Tips for recognizing and recording event transactions in your financial records
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Disclaimer: This video is for educational purposes only and should not be considered as professional financial advice.

What is Event?
An event in accounting refers to any occurrence or action that can affect the financial position of a business, directly or indirectly.

What is Transaction?
A transaction is a specific type of event that involves a financial exchange or impact, such as buying goods, paying salaries, or receiving payment from customers.

Your Queries:-
What is Event?
What is Transaction?
"All Transactions are Events; All Events are Not Transactions" Justification

Chapters:-
0:00 Introduction
1:26 Event
2:15 Transaction
2:44 "All Transactions are Events; All Events are Not Transactions" Justification
3:14 All Transactions are Events
3:41 All Events are Not Transactions
4:21 EXAMPLE OF TRANSACTION EVENT
4:46 EXAMPLE OF NON- TRANSACTION EVENT
5:38 Summary
6:05 Conclusion