Posted on January 18, 2010 by Ahmad
Assets = Liabilities + Stock holders’ equity
This is the main accounting equation, it combine most of what accountants deal with. In business, I can say that assets are your properties and dues, while liabilities are the value that you give to customers in exchange of money, it’s your obligations and finally the equity is your money, your stocks in that business.
I know that the above explanation is so brief, but it might give you an understandable idea of the basic accounting equation. Now, can you apply this equation to your daily life, financial and non-financial basics?
Hmm,, take a breath and think about it, if you want more explanation about that equation, I would be so happy to do so.
In my next post I will start writing about it,
inspire me with your comments :)
Filed under: General | Tagged: accounting equation, apply accounting, assets, formula, liabilities, personal accounting, stock holders' equity | 1 Comment »
Posted on January 17, 2010 by Ahmad
Do you think accounting theories and equations play an important role in our life?
Do you think accountants know how to manage their pockets better than you?
Do you believe that people with an accounting knowledge can deal effectively with their debts and loans?
What’s the relation between accounting and going green?
Have you ever heard about this common disease “half of the month doesn’t equal half of the pocket”?
Do you plan how to deal with your salary?
Interesting questions, right? what about their answers? are they interesting too?
well, this is my first post here, just wanted to give you an idea about my new blog. Where I will try my best to post some interesting stuff about accounting in a relation to our daily life.
Please don’t hesitate to answer all\some of the questions above,,,, ;)
Filed under: General | Tagged: accountant, accounting for life, personal accounting | 1 Comment »