FABM - ACCOUNTING

It is called the four Statements of Accounting.

What does Accounting provides?

It is a service activity that provides quantitative information, primarily financial in nature, about economic entities which will be useful in making economic decisions.

what is the equation of accounting?

it is the statement wherein the it tackles about the changes of the business's capital

everything owed by the business

what is left after deducting the liabilities to the assets

it is always present in businesses and it cannot be eliminated

it is an information provider and processing data

properties of the business should be separate and distinct from the properties of the owner