/biz/ - Business & Finance

>>13977999
Checked. Double entry accounting is easy, you basically just set up accounts for every transaction and log the moneys. Pic related is a real position in my acct, dates and such obv not accurate but the actual cash values are (just using this as an illustration so you can grasp it). GAAP calls for fair value accounting at regular intervals so you can record unrealized PnL, and then your actual sale of stock/options are based on the last recorded PnL instead of your initial purchase. Actual, real, accounting is moreso a matter of just learning the conventions and names for shit (you could invent your own system if you really wanted it. It really doesnt even matter unless you're a public company) but it basically boils down to:
>Assets - Liabilities = Equity
>The 5 major account types are assets, liabilities, revenues, expenses, and equity.
Most of it is pretty easy to grasp with a simple youtube video. I mean, the 5 account types should be pretty self describing too.