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.

There are two basic methods of accounting that businesses use to track and report revenues: the cash basis and the accrual basis. Under the accrual basis, revenues are recorded on a company's income ...

Depreciation is a fairly simple concept. When a business owner buys a fixed asset, that asset loses its value over time, and so its most current value must be accounted for on the company’s balance ...

Environmental accounting is the practice of using traditional accounting and finance principles to calculate the costs that business decisions will have on the environment. For example, before ...

This article is for educational purposes and does not constitute financial or legal advice. For specific advice applicable to your business, please contact a professional. Accounting and bookkeeping ...