Accounting fundamentals, accounting foundational concepts, accounting concepts every student, business owner, and business-professional needs to know. This book can be used by beginners and any person at any level because these are the concepts on which all other accounting concepts are built. It is always worth our time to get a better understanding of the core accounting concepts, and it is always possible to understand core accounting concepts better. As an accounting instructor, I discover new thoughts, ideas, and applications every time I teach accounting which has been a gratifying process. Accounting students, business owners, and business professionals need to know the fundamental accounting concepts because they are the tools to measure performance and to communicate the performance we have measured. Accounting concepts are to business what a stopwatch is to a professional runner. Being able to measure performance and express what we are measuring, helps both runners and the businesses achieve their goals. Although businesses will differ by industry and formation the core accounting concepts will remain the same. In other words, businesses are often categorized by the industry they do business in, meaning the product or service they provide, or by the type of business formation there use including a sole proprietor, partnership, or corporation. All business formations and industries will go through the accounting cycle steps laid out in this book. This book is broken out into four main parts. The four parts of this book are Part I - Accounting Objectives, The Double Entry Accounting System, & The Accounting Equation, Part II – Recording Financial Transactions Using Debits & Credits, Part III - Adjusting Entries & Financial Statement Creation, and Part IV – The Closing Process. Part I will introduce accounting concepts and the reasons for learning accounting concepts. We will discuss the objectives of accounting, the double entry accounting system, and the accounting equation. We will begin to record transactions using the accounting equation. Part II will focus primarily on recording financial transactions using debits and credits. Because the recording of financial transactions is what takes up most of the accounting department's time and because the concept of debits and credits is often new for many learners this chapter is where we want to spend a lot of time. Part III will cover adjusting entries and the creation of financial statements. Adjusting entries are recorded as of the end of the accounting period and are designed to make the accounting data as correct as possible before compiling the data into the financial statements. The adjusting entries test our knowledge of accrual accounting concepts. Once we have entered the adjusting entries, we will move to the main event, the creation of the financial statements. Part IV will cover the closing process, a process that can seem like a bit of a let down after completing the main event of the financial statements in Part III, but the closing process is a critical process to understand. The closing process is like the night shift sweeping the floor of a café at the end of the day, the main event of generating revenue having already taken place. Although the closing process is part of the current period's activities, it is done to prepare for the next period. Sweeping the floor at the end of the day at a café prepares the café for the operations of the following day. Closing the accounting books prepares the accounting department to start recording revenue and expenses the next period, the next month, or the next year. Please join us in learning the accounting fundamental, the core accounting concepts, the language that will help you excel in business. It will be great.