The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

Debits and credits are a fundamental concept in accounting, but they have different meanings when applied to balance sheet and income statement accounts. For the sake of this analysis, a credit is ...

The Balance Sheet represents the financial position of the University and Business Areas at a particular point in time. The Balance Sheets are represented as Assets, Liabilities, and Equity/Fund ...