The accounting equation is the very foundation of modern financial accounting. It provides the basis on which to record and analyze business transactions. This article explores in detail the constituents of the accounting equation, its importance, calculations, limitations, and real-world examples.
Accounting Equation
The accounting equation is written as:
Assets=Liabilities+Owner's Equity
This formula defines the relationship between a business's resources, or its assets, and how those assets are financed, either by debt (liabilities) or owner's investment (equity). It provides a framework so that financial statements are always in balance and correct.

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