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Basic Accounting

Borrowing increases cash and debt by the same amount. Equity is the residual claim after liabilities.

Your starting point

Financial Foundations

When a business borrows ₹20,000, did it get richer? A balance sheet is a snapshot at a date. Assets are economic resources. Liabilities are obligations. Equity includes invested capital and accumulated earnings, after distributions. Double-entry accounting keeps both sides in balance.

Build a balance sheetFoundation · Quick, Deep, ApplyEarned, billed and collectedIntermediate · Quick, Deep, Apply

Use the linked prerequisite and related topics to build your path.