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This blog is a record of my journey around the sun. This is a place I will post my many ideas and things I find of interest.

  1. The Accounting Equation

    [B]The Accounting Equation[/B]

    The account equation simply put
    [B]ASSETS = LIABILITIES + OWNERS EQUITY[/B]


    Assets = what the business owns
    Liabilities=What the business owes
    Equity= The owners investment in the business.

    This lesson follows on from the double entry you learnt in lesson one, for every debit there must be a corresponding credit entry in your books of account.

    The accounting equation must always ...
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