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 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 ...

When companies purchase supplies on account, they have to create several journal entries to record the transaction in their financial statements. These entries change the balance of the fundamental ...

SUMIF, SUMIFS, AVERAGEIFS, and COUNTIFS are commonly used accounting functions in Microsoft Excel. These formulas are used to calculate cell values based on the criteria you have described or ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...