Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Getty Images / AndreyPopov ...

Subtracting liabilities from assets shows the net worth of the business A basic tenet of double-entry bookkeeping is that total assets (what a business owns) must equal liabilities plus equity ...

Properly recording AP involves understanding double-entry bookkeeping and the associated credit and debit entries. Managing AP well can improve cash flow and keep up good vendor relationships.

Beginning with a consideration of accounting as an information system, you will explore the structure of the double-entry bookkeeping system, the periodic measurement of profit by businesses, and the ...