In this episode of Echo Verse AI Originals, we introduce the essential concepts of financial accounting. Learn the basics of assets, liabilities, equity, revenue, and expenses, and how they’re recorded using the double-entry bookkeeping system. We walk through the creation of key financial statements—like the income statement and balance sheet—and explain the differences between cash and accrual accounting with practical examples. Perfect for beginners, new business owners, or anyone seeking to understand the foundations of accounting, this episode sets the stage for confident financial decision-making.