The accounting equation, duality and general journal / ledger recording

What this note covers

1. The accounting equation and what each element measures
2. Duality: every transaction has two effects
3. From source document to general journal
4. Worked example: recording a sequence of transactions
5. Posting to the general ledger
6. Checking the work: the trial balance and the equation
7. How this is examined and what separates a top response

7 sections · 12 key terms & formulas · 6 common mistakes