Accounting Equation Accounting is based on a double-entry balancing system. Every account works together according to the accounting equation, assets equal liabilities plus stockholders' equity.

Small company with two directors (H & W) both taking salary of £12,570 so no personal tax or employers NI.  Company profits looking to be around £60K, ...

Unlike accounting profit, economic profit considers the cost of an organization's in-house resources that are utilized in their production of their goods or services. These items are also referred ...