Accounting equation is the basis for the preparation of statement of financial position in accordance to IFRS statement presentation explain

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A: The matching principle, which is related to accrual accounting, asserts that an expense must be…

Q: Describe the reporting environment for financial statements

A: This question explains about  the reporting environment for financial statements:

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Q: plain what’s manage define accounting and describe nature and objective of accounting.

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A: Finanacial statement.

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A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

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A:

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A:

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is