Use BookMyEssay:Accounting Equation Assignment Help

Accounting is an important field of study because an economy is standing on financial transactions and funds. However, this subject deals with equations and formulations that many students find it very difficult. Accounting equation says about the relationship between the assets and liabilities of a company and the owner’s equity. At BookMyEssay, we have hired highly qualified Sydney based assignment writers who can offer you excellent Accounting Equation assignment help. Our experts write case study on Accounting Equation from scratch and this gives immense scope to the students to learn this subject. With our homework and assignment assistance on Accounting Equation, they can also score good academic scores.

Importance of Accounting Equation

The importance of the Accounting Equation is highlighted if you are buying essay paper help for accounting equation as follows:

• Accounting equation makes sure that all the debits and credits are recorded.
• It is a basic equation and the complete accounting entries depend on it.
• This equation reflects the financial position of a business; liabilities, assets, equity, loans and advances. It is useful for investors and lenders because they will have insight before they take any business decision.
• It manages the business’ financial transactions
• It calculates retained earnings and income that can decide a company’s profitability
• It ascertains the valuation of a company by balancing its credits and debits.

The Double-Entry System

Double-entry accounting is the foundation of an accounting equation. A balance sheet is a double-entry accounting where the total liabilities and the total assets of a shareholder are equal.  As in every transaction, two accounts are affected, it is known as double-entry accounting.

The double-entry makes sure that an accounting equation stays balanced, it means that the left value of the equation shall match its right side value. The total amount of assets will be equal to the sum of Shareholders’ Equity and liabilities

The accounting equation makes sure that all entries in records and books are vetted and there exists a verifiable relationship between every liability and its source or between every income item and its source.

Accounting Equation in the Actual World

Practically, the use of the accounting equation in the real world has several components in every section that reflects the details about a company’s balance sheet. Total assets comprise of current assets including inventory, cash, prepaid accounts, and work in progress. Long-term assets comprise of buildings, machinery, equipment, and other assets.

Total Liabilities comprise of current liabilities including payments that are due within a year or even less, long-term debt that is due over 12 months and other long-term liabilities. Owners equity comprises of various kinds of equity such as common stock, surplus capital, and retained earnings.

According to our accounting equation financial report writing help experts, Accounting Equation ensures that relevant accounts have proper entries and every transaction is recorded in full for a given transaction. Accounting Equation has a lot of meaning and it can be explored in depth with complicated expense entries.

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