The most important accounting formulas are practical and intuitive, making them easy to remember and apply. Many, or all, of the products featured on this page are from our advertising partners who ...

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.

Financial data are most often recorded using a technique called double-entry accounting. This method relies upon a mathematical construct called the accounting equation. Any time an adjustment is made ...

Accounting uses a lot of abbreviations. GL for general ledger, DR for debit, CR for credit are examples. Fixed asset accounting is no exception. Fixed assets are used frequently in financial analysis ...