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 uses a lot of abbreviations. GL for general ledger, DR for debit, CR for credit are examples. Fixed asset accounting is no exception. Fixed assets are used frequently in financial analysis ...