Why Double-Entry and the Accounting Equation Matter
1. Accuracy: The double entry system ensures that all transactions are recorded, and any errors can easily be traced when the debits and credits fail to tally with one another.
2. Exhaustiveness: The accounting equation ensures that every asset has its liability or counterpart since liabilities and equity are always equal to one another thereby excluding some of the fundamental information during omission.

Why Double-Entry and the Accounting Equation Matter
1. Accuracy: The double entry system ensures that all transactions are recorded, and any errors can easily be traced when the debits and credits fail to tally with one another.
2. Exhaustiveness: The accounting equation ensures that every asset has its liability or counterpart since liabilities and equity are always equal to one another thereby excluding some of the fundamental information during omission.