Liabilities Vs. Equity: What’s the difference
Although liabilities and equity are both shown on the right side of the balance sheet, there are significant differences between these …
Financial Statements
Difference between Assets and Equity
For anyone new to accounting, assets and equity can seem like one and the same thing. Differentiating between these accounting …
Difference between Assets and Liabilities
Knowing how to differentiate between assets and liabilities is fundamental in understanding the accounting equation. The distinction between the two elements of …
Relationship Between Financial Statements
You cannot judge a book by its cover and any business through a single financial statement. Knowing the different types …
Difference between Assets and Expenses
When you’re just starting to learn accountancy, it can be easy to confuse the expenses of a business with its …
10 Elements of Financial Statements
The accounting information of a business can be organized into ten elements of the financial statements. In this lesson, I …
Why Should A Balance Sheet Always Balance?
Understanding why a balance sheet is always expected to balance can be hard to grasp especially for beginners. In this …
