The first step of preparing an account is the creation of a transaction, as well as its identification. When the word transaction is used,
- It has to be a business transaction
- It has to be economic transaction of business
- Economic transaction should have monetary value
- Business transaction can be in cash or in credit from
- Business transaction can be internal or external

In this course:
+ Meaning and classification of business transactions
+ Identification of cash and credit transactions
+ What are vouchers?
+ Dual effects of transactions
+ Types of accounts
+ Rules of debit and credit of accounts
+ Steps of debiting and crediting of accounts (Exercise)