What is the fundamental accounting equation
For this reason project managers are being given more responsibility in the businesses they work in. It has become more important that project managers treat their projects like small businesses and that they be responsible for more of the functions that were traditionally managed by others. This is because project managers are seen as being successful in what they do. Why not give them more responsibility? One of the areas where project managers need to take more responsibility is in the accounting for cost of their projects. The fundamental accounting equation is the basis for any accounting system used in business today. These accounting systems are called double-entry accounting. This is somewhat different from the accounting system we use at home, which is single-entry accounting or cash accounting. In a cash accounting system we make one entry for each transaction and worry about maintaining our cash balance in positive numbers. We subtract money that we spend, and we add money t
