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    Module 1 Lecture 1 - The Building Blocks of Accounting

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    Ingenieria Civil PYV
    This document provides an overview of the accounting equation, which states that assets are equal to liabilities plus equity. It defines assets as what you have, liabilities as what you owe, and equity as what you own. An example is provided of the accounting equation with $50,000 in assets, $30,000 in liabilities, and $20,000 in equity, demonstrating how assets equal the sum of liabilities and equity.

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    Module 1 Lecture 1 - The Building Blocks of Accounting

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    Ingenieria Civil PYV
    29 views16 pages
    This document provides an overview of the accounting equation, which states that assets are equal to liabilities plus equity. It defines assets as what you have, liabilities as what you owe, and equity as what you own. An example is provided of the accounting equation with $50,000 in assets, $30,000 in liabilities, and $20,000 in equity, demonstrating how assets equal the sum of liabilities and equity.

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    Module 1 Lecture 1 -- The Building Blocks of Accounting

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    This document provides an overview of the accounting equation, which states that assets are equal to liabilities plus equity. It defines assets as what you have, liabilities as what you owe, and equity as what you own. An example is provided of the accounting equation with $50,000 in assets, $30,000 in liabilities, and $20,000 in equity, demonstrating how assets equal the sum of liabilities and equity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    29 views16 pages

    Module 1 Lecture 1 - The Building Blocks of Accounting

    Uploaded by

    Ingenieria Civil PYV
    This document provides an overview of the accounting equation, which states that assets are equal to liabilities plus equity. It defines assets as what you have, liabilities as what you owe, and equity as what you own. An example is provided of the accounting equation with $50,000 in assets, $30,000 in liabilities, and $20,000 in equity, demonstrating how assets equal the sum of liabilities and equity.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 16

    Business Tools for Career Readiness

    Finance for
    Non-Financial Professionals
    Module 1

    with David Standen, D.B.A.


    The Accounting Equation:

    Assets = Liabilities + Equity


    Assets = Liabilities + Equity
    The Accounting Equation:
    Assets: What I have
    The Accounting Equation:

    Liabilities: What I owe


    The Accounting Equation:

    Equity: What I own


    The Accounting Equation:
    Assets: What I have
    Liabilities: What I owe
    Equity: What I own

    Assets = Liabilities + Equity


    $50,000
    $30,000
    $50,000
    $30,000
    $50,000
    What I owe
    $20,000
    Assets = Liabilities + Equity

    Equity
    Assets

    $30,000
    $50,000
    Liabilities
    $20,000

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