ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ACCOUNTING EQUATION Definition
ACCOUNTING EQUATION is a mathematical expression used to describe the relationship between the assets, liabilities and owners equity of the business model. The basic accounting equation states that assets equal liabilities and owners equity, but can be modified by operations applied to both sides of the equation, e.g., assets minus liabilities equal owners equity.
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PLANT ASSET is a non-current physical asset applicable to manufacturing activities.
DISCLOSURE NOTE see DISCLOSURE PRINCIPLE.