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I agree this is important to understanding double-entry accounting. Keep in mind that the Income - Expenses gets elided because the Retained Earnings go towards
by Jorge1o1 6y ago
I agree this is important to understanding double-entry accounting. Keep in mind that the Income - Expenses gets elided because the Retained Earnings go towards Equity
- TeMPOraL 6y agoI wish somebody did an explainer of all this, not just for dummies, but for us European dummies. I've approached this topic multiple times, and I always get confused by all these Liquidities, Equities, Accounts Payables, Accounts Receivables, Commodities, and how come any article trying to explain any of that starts talking about stock trading.