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

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.

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 ...

Accounting is the mathematical science of collecting, recording, and compiling financial information into formats that can communicate that information to its end users in an efficient and effective ...