Director/Founder at Protea Financial - Guiding small businesses with high quality and cost-effective accounting. As an accountant to small business owners, something I often hear from new clients is, ...

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.

Assets = Liabilities + Owner's Equity is the principal equation for accounting. Many business owners understand the importance of the words, but not what they mean. Throw in debits, credits, ledgers ...

Before any meaningful discussion can occur about the effect that a cash purchase of office supplies has on the accounting equation, it is important to understand what the accounting equation is and ...

The most important accounting formulas are practical and intuitive, making them easy to remember and apply. Many, or all, of the products featured on this page are from our advertising partners who ...