The Accounting Equation is the foundation of double entry system of accounting. It displays that all assets are either financed by borrowing money or paying with the money of the company's shareholders.
The following topics are covered in this session:-
1. What is balance sheet
2.The accounting equation: Assets = Liabilities + Shareholder Equity.
3. Balance sheet statement overview (position of a company)
4. Effects of different transactions on balance sheet through accounting equation.
So whether you are an accounting student, bookkeeper or MBA candidate with a finance subject, you should find value in this lesson.
This video Useful for Class XI students.