Intro+to+Accounting

Accounting is planning, recording, analyzing and interpreting financial information. Businesses must maintain accurate accounting records so managers can make good business decisions.
 * Welcome to Accounting!**

Assets are anything of value that is owned such as cash and supplies. Liabilities are the amount owed by a business. Onwer's Equity is what is left over after all liablilites are subtracted from assets.

The accounting equation is the relationship among assets, liabilites and owner's equity. Assets = Liabilities + Owner's Equity.

To learn more about the accounting equation watch the following video and the answer the question on the discussion board.

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