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 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 ...

Small-business owners who want to maximize their company's potential should practice fundamental accounting and understand the fundamental accounting equation. You need a professional accountant – not ...