ACCT503 Wk2

Accounting Equation, Accounting Cycle, and Accrual Accounting

In this area, we will discuss the significance of the accounting equation, the rules of debit and credit, and the steps in the accounting cycle. We will talk about recording of transactions, normal balances, and the creation of the trial balance.

Let’s begin by asking this question: What is the role of the accounting equation in the analysis of business transactions?

1. Include in your post that you attended the live lecture.

2. Provide a summary of your key takeaways from the lecture.