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.

The accounting equation, assets equals liabilities plus stockholders' equity, is the foundation of the balance sheet. The retained earnings account is part of the stockholders' equity section. The net ...

Accounting is the mathematical science of collecting, recording, and compiling financial information into formats that can communicate that information to its end users in an efficient and effective ...

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 ...