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In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). [1]
The accounting equation (Assets = Liabilities + Owners' Equity) and financial statements are the main topics of financial accounting. The trial balance , which is usually prepared using the double-entry accounting system , forms the basis for preparing the financial statements.
Personal finance is the financial ... a plan to distribute assets to meet any income shortfall. Methods for retirement plans ... Accounting software; Asset allocation ...
Learn what assets are, the different types you can own and how they impact your financial growth.
Assets and expenses are two accounting terms that new business owners often confuse. Here’s what each term means and how to use them in accounting. Assets vs. Expenses: Understanding the Difference
Understanding current assets can sharpen your personal finances and help you find good investment opportunities. Discover current ratios and how to use them.
A fixed asset (also known as long-lived assets or property, plant and equipment (PP&E)) is a term used in accounting for assets and property that may not easily be converted into cash. [1] Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are ...
A fixed asset, often referred to as a tangible asset or property, plant, and equipment (PP&E), is a long-term asset that holds value over time and can be used to generate income.