The Accounting Equation

The Accounting Equation

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What is the accounting equation?

The Accounting Equation

Assets - Liabilities = Capital

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A-L = C

Therefore:

A =

L =

C =

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Define Assets

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Define Liabilities

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Assets can be divided into current assets and non-current assets.

Explain the difference between current assets and non-current assets.

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Give two examples of:

Current assets

Non-current assets

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Explain the difference between current liabilities and non-current liabilities.

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Give examples of current liabilities

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Give examples of non-current liabilities.

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Explain the difference between tangible assets and and non current assets.