Accounting Analysis

Accounting Analysis

Introduction

This paper is subdivided in two sections, where the first section focuses on the accounting equation. Additionally it examines if the equation holds true in all instances. To have a deep insight in to the equation, as a sample some personal transactions shall be analyzed to validate the accounting equation if it persists. Further, second section focuses on the term accounts, where the literal meaning of 'account' is discussed. Moreover, different classifications of accounts are examined. Lastly, the paper discusses about the impact of rules of the debit and credit on the accounts and additionally to gain more knowledge ...