Accounting principles are the theoretical concepts that underlie the practical accounting techniques used to ensure that financial statements accurately portray a company's performance, cash flows and ...

The accounting equation illustrates the relationship between a company's assets and the claims that creditors and investors have on those assets. The equation is the basic structure on which a company ...

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.

Accounting is a comprehensive system for collecting, recording, classifying, summarizing, interpreting, and communicating financial information. It is often referred to as the language of business as ...

Net worth equals assets minus liabilities; calculate using the basic accounting equation. Tangible assets include cash, real estate; intangibles include brand names, patents. Negative net worth may ...