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Assets / Liabilities / Equity / Revenue / Expenses Accounts Explained
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There are five types of accounts in accounting you MUST KNOW.
Basically, all accounting transactions you will encounter in the future will be classified into these 5 types of accounting accounts.
Timestamps:
0:00 - Intro
1:10 - What are assets?
2:48 - What are Liabilities?
3:57 - What is Equity?
5:41 - Accounting Equation (IMPORTANT)
6:45 - What is Revenue?
7:35 - What are Expenses?
8:27 - Income Statement Equation
Icons in the Powerpoint Presentation were from:
#accounting #accountingbasics #accountancy #assets #liabilities #revenue #expenses #equity #money #cashflow
Basically, all accounting transactions you will encounter in the future will be classified into these 5 types of accounting accounts.
Timestamps:
0:00 - Intro
1:10 - What are assets?
2:48 - What are Liabilities?
3:57 - What is Equity?
5:41 - Accounting Equation (IMPORTANT)
6:45 - What is Revenue?
7:35 - What are Expenses?
8:27 - Income Statement Equation
Icons in the Powerpoint Presentation were from:
#accounting #accountingbasics #accountancy #assets #liabilities #revenue #expenses #equity #money #cashflow
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