This topic discusses the basic and expanded accounting equation. To summarise, explanation on the theoretical aspects of basic and expanded accounting equation is provided as well as the basic and expanded accounting formulas.

At the end of this topic, you should be able to:
1.1 understand the basic and expanded accounting equation
1.2 state the basic and expanded accounting equation

This topic discusses the first two elements in the accounting equation, i.e., assets and liabilities. To summarise, explanation on the definition and categories of assets and liabilities are provided as well as the examples for each category of assets and liabilities.

At the end of the topic, you will be able to:
1.1 identify the elements on accounting equation - assets and liabilities
1.2 explain the elements on accounting equation - assets and liabilities

This topic discusses the third element in the accounting equation, which is owner's equity. To summarise, explanations of the definition and categories of owner's equity are provided as well as examples for each category of owner's equity.

At the end of the topic, you will be able to:

1. Identify the elements of the accounting equation - Owner's Equity
2. Explain the elements of the accounting equation - Owner's Equity

This topic discusses the effect of accounting transaction on accounting equation. To summarise, explanations of the effect on each accounting transaction on the basic and expended accounting equation.

At the end of this topic, you should be able to:
1.1 understand the effect of accounting transaction on accounting equation
1.2 identify the effect of accounting transaction on accounting equation