Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

How the accounting equation relates to the balance sheet and income statement?

user-image
Question added by Adel BENFIALA , Central Administration Inspector , Ministry of Housing, Urban Planning and the City
Date Posted: 2015/04/15
emmanuel, aliakhue momoh
by emmanuel, aliakhue momoh , accountant , jaspand int'l hotel

income statement report a company financial performance while the balance sheet report the financial position of both assets and liabilities /equity holders of a company.

the accounting equation is asset =liabilities +owner's equity

georgei assi
by georgei assi , مدير حسابات , المجموعة السورية

I confess I did not understand the question