Room 220 Accounting/Finance Track. Interpreting Balance Sheet and Income Statement. Color Accounting. Accounting comes alive through a simpler and easier way of learning using colors and language. Develop a deep understanding of the Balance Sheet and Income Statement and their relationship. Use the BaSIS Framework™ to clearly and unforgettably define Assets, Liabilities, Equity, Revenue and Expenses. Understand the Value Cycle of business and how it relates to you. Color Accounting is being used to improve accounting literacy all over the business and not-for-profit world and is now being used in secondary and tertiary education. Tens of thousands of happy participants, and thousands of workshops, are a testimony to the success of this unique approach to accounting literacy.