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Regardless of the size of your business, the use of an accounting equation is necessary. It lets you formulate financial statements effectively. This equation has unique format and standard that is accepted worldwide, and anyone from any country can use it. Knowing about its wider scope, now you must be curious to know more about accounting equation and how can you use this equation to make financial statements? What are some of the components of this equation? This article will serve as a comprehensive guide about this equation. Therefore, before moving further, let's define it first.

"My concern, mind you, is not with the passive viewers, but with the pseudo-participants-those who may equate appreciating and recalling the accomplishments of others with doing something meaningful themselves. I worry that, in our classrooms, we have become focused on celebrating the lives of others, at the expense of the act of creation."

It is soon the start of a new school year for students in Australia. In other parts of the world, the year continues after a short break for Christmas while New Year festivities are just around the corner for those observing the lunar new year. The start of the year is considered an excellent time to reflect on key ideas that matter to our learning and potential for success. But does this equate with goal-setting?