company. Your CEO has asked you to provide a detailed explanation of the fundamental accounting equation and its significance in the context of your company's financial operations. In your response, address the following: Define and elaborate on the fundamental accounting equation. Explain the components of the equation, including assets, liabilities, and equity. Discuss how the accounting equation is used to maintain the financial balance within your company's records and how it ensures the integrity of financial data. Provide examples of typical transactions within your manufacturing company and illustrate how these transactions impact the accounting equation. Include examples of both increases and decreases in assets, liabilities, and equity. Explain how the accounting equation facilitates the preparation of financial statements, specifically the balance sheet, and its role in assessing the financial health of your company. Discuss the importance of adhering to the accounting equation in the context of financial planning, decision-making, and regulatory compliance within your organization. Ensure your response is comprehensive and demonstrates a deep understanding of the accounting equation and its practical applications within your company's financial management