The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

Selling and administrative expenses include costs like marketing and rent, not tied to product production. Managers use these expenses to tailor company strategies and optimize operations. Frequent ...

Par value is an arbitrary low value assigned to shares to meet legal requirements. To compute par value of issued shares, multiply the number per share by total shares. Low par value reduces financial ...