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  2. What are assets, liabilities and equity? - AOL

    www.aol.com/finance/assets-liabilities-equity...

    Liabilities are considered the debt or financial obligations owed to other parties. Equity is the owner’s interest in the company. As a general rule, assets should equal liabilities plus equity.

  3. Liability (financial accounting) - Wikipedia

    en.wikipedia.org/wiki/Liability_(financial...

    Examples of types of liabilities include: money owing on a loan, money owing on a mortgage, or an IOU. Liabilities of sectors of USA economy, 1945-2017, based on flow of funds statistics of the Federal Reserve System. Liabilities are debts and obligations of the business they represent as creditor's claim on business assets.

  4. Asset - Wikipedia

    en.wikipedia.org/wiki/Asset

    Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). [1] The balance sheet of a firm records the monetary [2] value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. [1] Total assets can also be called the balance ...

  5. Accounting equation - Wikipedia

    en.wikipedia.org/wiki/Accounting_equation

    Buying assets by borrowing money (taking a loan from a bank or simply buying on credit) 3 − 900 − 900 Selling assets for cash to pay off liabilities: both assets and liabilities are reduced 4 + 1,000 + 400 + 600 Buying assets by paying cash by shareholder's money (600) and by borrowing money (400) 5 + 700 + 700 Earning revenues 6 − 200 ...

  6. How Accounts Payable Are Recorded on a Balance Sheet - AOL

    www.aol.com/accounts-payable-recorded-balance...

    As mentioned, accounts payable are considered a liability. In contrast, accounts receivable are considered an asset. That’s because accounts receivable represent funds other companies owe the ...

  7. Types of Risk-Affecting Assets and Liabilities - AOL

    www.aol.com/finance/types-risk-affecting-assets...

    Business firms use a financial analysis technique called asset vs. liability management (ALM) to mitigate risk due to a mismatch in their assets and liabilities. A mismatch occurs when assets and ...

  8. Balance sheet - Wikipedia

    en.wikipedia.org/wiki/Balance_sheet

    The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities. [4] Another way to look at the balance sheet equation is that total assets equals liabilities plus owner's equity.

  9. Is My Checking Account Considered an Asset? - AOL

    www.aol.com/checking-account-considered-asset...

    If your account is empty or overdrawn, it’s not considered an asset, but rather a liability. On a small-scale example, let’s say a checking account holder just has two checking accounts.