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.

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 ...