The Financial Accounting Equation
WHAT YOU WILL LEARN:
We'll discuss the accounting equation and the logic behind why all transactions must make use of it. To guide students, I will post a few rules that you'll need to follow, and will demonstrate a couple of examples to reinforce the concept.
HOW IT WILL APPLY LATER ON:
The accounting equation is simply one of the most important concepts in financial accounting. Every transaction will need to be entered correctly in order to have reliable financial information.