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Accounting 101: Assets

Accounting 101: Assets

Nov 13, 2017

What is An Asset? An asset represents a present economic resource of a company to which it has a right and an expectation that it will provide future benefit. Lets break that down further; assets are the “stuff” that the... Read more →


Posted at 01:12 PM in Accounting | Permalink

Accounting 101: Liabilities

Accounting 101: Liabilities

Nov 13, 2017

Liabilities are the financial obligations of a company arising from the ordinary course of business. Liabilities are incurred and settled over operating cycles through the transfer of economic benefits which include, but are not limited to, money, goods or services.... Read more →


Posted at 12:39 PM in Accounting | Permalink

Accounting 101: Owner’s Equity

Accounting 101: Owner’s Equity

Nov 13, 2017

The last variable in the accounting formula is owner’s equity. To review, Assets = Liabilities + Owner’s Equity. Equity is the section of the balance sheet that represents the capital received from investors in exchange for ownership in the business.... Read more →


Posted at 12:39 PM in Accounting | Permalink

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