The fundamental accounting equation provides guidance for the creation of all journal entries entered into the general ledger. Advertisement Article continues below this ad ...

Whenever you have a transaction in accounting, you must keep the equation balanced. Balancing the equation means you keep your debits equal to your credits. For example, assume you sell a widget ...

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.

To better advise their clients, in-house counsel should understand key accounting principles and steps in the accounting cycle, including journal entries, the general ledger, trial balances ...

A journal is a detailed record of the financial transactions of a business, designed to be used to reconcile all of the business' accounting records.

This makes our list of important accounting formulas because once you understand it, you can see at a glance how healthy your business is. For example, let’s say the balance of your bank ...

Journal of Accounting Research publishes original research in all areas of accounting and topics including finance, economics, statistics, psychology, and sociology. Research typically uses analytical ...

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.