Accounting equation: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add links.) |
||
| (One intermediate revision by the same user not shown) | |||
| Line 19: | Line 19: | ||
* [[Accounting]] | * [[Accounting]] | ||
* [[Assets]] | * [[Assets]] | ||
* [[Balance]] | |||
* [[Balance sheet]] | * [[Balance sheet]] | ||
* [[Bookkeeping]] | * [[Bookkeeping]] | ||
* [[Double entry]] | * [[Double entry]] | ||
* [[Double entry bookkeeping]] | |||
* [[Equity]] | * [[Equity]] | ||
* [[Financial reporting]] | * [[Financial reporting]] | ||
* [[Financial statements]] | * [[Financial statements]] | ||
* [[Journal]] | |||
* [[Ledger]] | |||
* [[Liabilities]] | * [[Liabilities]] | ||
* [[Net assets]] | * [[Net assets]] | ||
Latest revision as of 05:38, 20 July 2022
Financial reporting - primary statements - bookkeeping.
The accounting equation follows from the double-entry principle of bookkeeping.
It is usually expressed as:
- Assets - Liabilities = Equity
Alternative presentations of the accounting equation include:
- Assets = Liabilities + Shareholders' Funds; OR
- Assets = Liabilities + Equity
