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#cfa-level-1 #reading-23-financial-reporting-mechanics
Assets=Liabilities+Contributedcapital+Beginningretainedearnings+Revenue−Expenses−DividendsAssets=Liabilities+Contributedcapital+Beginningretainedearnings+  Revenue−Expenses−Dividends
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3.2. Accounting Equations
on: Equation (5a)  Assets = Liabilities + Contributed capital + Ending retained earnings Or equivalently, substituting Equation 4b into Equation 5a, we can write: Equation (5b)  <span>Assets=Liabilities+Contributedcapital+Beginningretainedearnings+Revenue−Expenses−DividendsAssets=Liabilities+Contributedcapital+Beginningretainedearnings+  Revenue−Expenses−Dividends The last five items, beginning with contributed capital, are components of owners’ equity. The statement of retained earnings shows the linkage between the b


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