In your own words, explain the recording process and the accounting
equation to someone who has no accounting experience. Give your opinion
on the elements or areas that might cause the most confusion or be the
most difficult to grasp.
The recording process tries to match revenues with expenses. Just like when you use your credit card, even though you haven't paid out cash yet, you still received value and owe money. So for this we'll record an asset (something that cost money that will help us in our business) and a liability (we owe something).
The accounting equation is assets = liabilities + equity. When we bought our assets we either had to pay for them ourselves with what we put into or reinvested into the business (equity) or what we borrowed (liabilities). Since money and value doesn't just appear, that's why the equation equals.