The Fundamental Accounting Equation and the Financial Statements

Question to focus on:

Why are we in business?

 

Discussion:

The fundamental accounting equation

How is it that all the financial statements spring forth from this equation?

The main financial statements – BS, IS, SOE, Cash Flow

Presentation:

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Textbook Companion Website

Additional Practice: BE1-9, BE1-14, BE1-15, E1-3, E1-6