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Explain the accounting equation

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Reference no: EM132668527

Q#1: A) Explain the accounting equation in its basic and expanded forms.

B) Identify the groups (operating, investing, and financing activities) into which business activities are categorized for financial reporting purposes and classify any business activity in the appropriate group.

Q#2: Compare and contrast the key differences in cash flow statements prepared under international financial reporting standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP).

Reference no: EM132668527

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