Accounting Equation, Accounting Cycle, and Accrual Accounting (graded)Class, welcome to week 2. This week we will discuss the significance of the accounting equation, the rules of debit and credits, and the steps in the accounting cycle. We will talk about recording of transactions, normal balances, and the creation of the trail balance. Let’s begin by asking this question: What is the role of the accounting equation in the analysis of business transactions?
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