Assets Vs Equity – Difference Between Asset And Equity

The basic accounting equation is Assets equals Liabilities plus Equity i.e. Assets = Liabilities + Equity.   But then:   You can easily mistake asset and equity as meaning the same thing if you are not well-grounded in accounting. From my experience, people tend to think asset and equity represent the owner or shareholder’s interest …

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Asset Vs Expenses – Difference Between Assets And Expenses

It is important for you as a business owner to understand the accounting elements. Fondly referred to as ALICE amongst accounting professionals, ALICE means Assets, Liabilities, Income, Capital (Equity), and Expenses.   Particularly, you must be able to tell the difference between Assets and Expenses as you will be dealing with them frequently while running …

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Difference Between Accounting And Auditing

Accounting and Auditing are very important processes in the financial affairs of any company. The difference between accounting and auditing ranges from purpose to the process involved in both terms. A generally acknowledged universal truth is: neither accounting nor auditing can exist alone especially for public listed companies .i.e companies whose shares are traded on …

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