What information should be included on an accounting cheat sheet?

[accountinglads]

A accounting cheat sheet offers the following points: Assets = Liabilities + Equity, all types of accounts, how to use debits and credits and examples of common journal entries. It is important that the book explains how each type of account increases or decreases: expenses are debited, assets increase, while liabilities decrease when they are credited. Showing how to use T accounts and make adjusting entries is encouraged. This guide may help students or professionals verify their skills and quickly check important concepts.