會計恒等式

1) In the SOFP

? Assets = Liability + Equity

2) In the SOPL

? Income - Expense = Profit (最終轉到資產負債表中的equity)

? Opening inventory+purchase-closing inventory=cost of sale COST/COS

3) 利潤表和資產負債表的關系

對于sole trader 和partnership而言:

? Capital at year beginning + New capital + Profit this year /-loss - Drawings = Capital at year end

對于公司而言：

? Opening equity+new share issued+profit/-loss-dividend=closing equity

Asset: An asset is a present economic resource controlled by the entity as a result or past events.

An economic resource is a right that has the potential to produce economic benefits

Liability:A liability is a present obligation of the entity to transfer an economic resource as a result of past events

Equity:Equity is the residual interest in the asset of the entity after deducting all its liabilities

Income:Income is increases in assets or decreases in liability that result in increases in equity

Other than those relating to contribution from holders of equity claims

Expenses:Expenses are decreases in assets or increases in liabilities that result in decreases in equity,other than those relating to distributions to holders of equity claims