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O-Level The accounting equation

What the O-Level syllabus expects for The accounting equation, and how to practise it.

What the syllabus expects

• Write out the basic accounting equation and how it expands
• Use the accounting equation to find the amounts of assets, liabilities and equity
• Bring the accounting equation to bear on the Statement of Financial Position
• Work out how business transactions change the accounting equation
  Scope: Only transactions within this syllabus

More O-Level Principles of Accounts topics

Roles of accounting and of accountants · Stakeholders and what they need in order to decide · Judging profitability · Judging liquidity · Judging efficiency of inventory and trade receivables management · Kinds of business · all of O-Level Principles of Accounts