The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

Accounting is a comprehensive system for collecting, recording, classifying, summarizing, interpreting, and communicating financial information. It is often referred to as the language of business as ...

The accounting equation illustrates the relationship between a company's assets and the claims that creditors and investors have on those assets. The equation is the basic structure on which a company ...

A bedrock principle of business bookkeeping is that the accounting equation must always balance: Your assets must always equal your liabilities plus your owner's equity. When your business becomes a ...

The father of double-entry accounting, Luca Pacioli, was onto something when he contributed his wisdom in the 15th century to ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...