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 ...

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.

Net worth equals assets minus liabilities; calculate using the basic accounting equation. Tangible assets include cash, real estate; intangibles include brand names, patents. Negative net worth may ...

The father of double-entry accounting, Luca Pacioli, was onto something when he contributed his wisdom in the 15th century to create what we now know is a basic accounting equation: assets = ...