Assets are quantifiable things — tangible or intangible — that add to your company’s value Liabilities are what your company owes to others, whether that’s an investor or a bank that issued a loan ...

The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...