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 principles are the theoretical concepts that underlie the practical accounting techniques used to ensure that financial statements accurately portray a company's performance, cash flows and ...

Learn how to analyze a company's balance sheet, including assets, liabilities, and equity, for smarter investment decisions.

When companies purchase supplies on account, they have to create several journal entries to record the transaction in their financial statements. These entries change the balance of the fundamental ...