Accounting Made Easy 3- Basic Accounting Equation

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Gleim Financial Accounting Made Easy is an introductory course that:
Improves understanding of the double entry system, i.e., the basic bookkeeping process.
Teaches you how to prepare and use financial statements using interactive examples.

Study Unit 3, The Basic and Expanded Accounting Equations, explains:
1.The basic accounting equation:
Assets equal Liabilities plus Equity
2.Assets,
3.Liabilities,
4.Equity,
5.The expanded accounting equation:
Assets plus Expenses equal Liabilities plus Equity plus Revenue
6.Revenues, and
7.Expenses.

Category:

Education

Tags:

• easy accounting
• basic accounting
• Accounting
• Gleim
• Financial
• Easy
• Double Entry
• Bookkeeping
• Statements
• Education
• accounts
• journals
• ledgers
• process
• basic

[Raeb222]

This is very helpful as I'm learning Accounting/book keeping.

I'll be back. :)

[red244]

Or even simpler quation for double entry (AS/A level): Assets (Current and Fixed) + Exepenses + Capital = Drawings + Liabilities (Current and Long term) + Revenue.

Their is no real set equation for duality it seems.

[jwbasey]

I recommend this course to anyone that is interested in learning basic accounting or needing a review for the CPA. FAME is a step-by-step course that is not cluttered with advertising.

[Chulacrunk]

Excellent review! Can't wait to get the full version.

[sityluvsu]

Gleim looks really helpful. Has anyone else tried it? I'm going to purchase my course today.