3272512
Description
Mind Map by amairani123, updated more than 1 year ago
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Created by amairani123
over 8 years ago
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The Accounting Equation
- Assets
- Has a measurable value
- Car
- Jet
- Boat
- Laptop
- House
- Car
- Debtors
- Owe You $$$
- Owe You $$$
- Has a measurable value
- Expenses
- Cost company incurs in effort to make money
- Paid with $
- Can be charged
- Cost company incurs in effort to make money
- Liabilities
- A debt
- Loan
- Creditors
- A debt
- Owner's Equity
- Value of Assets that owner really owns
- Assets-Liabilities
- Value of Assets that owner really owns
- Revenues
- Income made by a businss
- Recorded quarterly or annualy
- Income made by a businss
- Net Gain vs. Net Loss
- Gain: Bring in more $ than spent
- Loss:Bring in less $ than spent
- Gain: Bring in more $ than spent
Media attachments
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