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The accounting equation defines a company’s total assets as the sum of its liabilities and shareholders’ equity. It's the foundation of the double-entry accounting system.
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SmartAsset on MSNHow to Use and Calculate the Expanded Accounting Equation - MSNThe expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by ...
Before accounting standards changed in 2016, you didn't list operating leases on the balance sheet at all. The change requires that you now enter operating leases as a liability.
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