1. It is now necessary to expand the accounting equation to include the last two categories of data, revenues and expenses.

2. But according to the analysis on the accounting equation with the optional theory, both creditors and shareholders are the owners...

3. On the basis of the accounting equation, the financial position and the operating result of a business can be recorded and reported to the interested users of accounting.

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4. Indicate the effects of business transactions upon the accounting equation and the balance sheet.

5. Introduce accounting equation, double entry system and the rule of double entry accounting.

6. Use the accounting equation to describe an organization's finacial position, In its most common form, the accounting.

7. The balance sheet reflects the basic accounting equation and the means of financing the organization's assets.

8. The accounting equation reflects the relationship among assets, liabilities, and owner's equity.

9. Accounting introduces the accounting cycle, the accounting equation, and financial statements.

10. According to the traditional understanding of the accounting equation, creditors are excluded from the owners of a corporation.

11. A transaction could affect only one , two, or all three elements of the accounting equation .

12. A step-by-step analysis is provided to demonstrate how cash flow can be obtained using the basic accounting equation.

13. The equilibrium which the bookkeeping record achieves through the accounting equation is an essential feature of double entry.

14. The author also finds the economic theory basis for this revised accounting equation.

15. How simple or how complex, can be expresses in terms of its effect on the accounting equation.

16. Therefore, transactions are analyzed in terms of their effect on the accounting equation.

17. Therefore, transactions are analyzed in terms of their effect on the accounting equation. Prepare the financial statements.