The Accounting Equation from meaning of accounting information Watch Video
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Description: http://www.accounting101.org/accounting-equationnnThe Accounting EquationnEvery transaction that happens within a business has an effect on its financial position. The accounting equation is what keeps all of the transactions in balance and helps users of the information make sense of what areas each transaction affects. The financial position of any company is based on the following items:nAssets: what the company ownsnLiabilities: what the company owes to other partiesnOwners’ Equity: the di