Hello in this presentation that we will discuss the balance sheet objectives at the end of this presentation that we will be able to describe the balance sheet, list the components of the balance sheet and define and explain each component of the balance sheet. When considering the balance sheet, we will be looking at components equivalent to those in the accounting equation. the accounting equation as we have seen in a prior presentation is assets equal liabilities plus equity, these will be the components of the balance sheet.
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Accounting Equation 115
Hello in this presentation we will discuss the accounting equation. At the end of this we will be able to name the accounting equation, explain the components of the accounting equation and explain the balancing concept related to transactions. The double entry accounting system can be recorded in a few different ways, at least three different ways. It’s useful to understand these three different ways. The first way the one we will be concentrating on here will be in the format of the accounting equation, assets equal liabilities plus owner’s equity or just equity.