An asset is anything, which you own and which is valuable, whether it is tangible or intangible. Assets are said to have positive economic value. Simply put an asset is something that is worth money ...

Claims and assets make up the backbone of the accounting systems. The famed accounting equation, seen in the budget sheet, is actually a rendition of total claims and total assets. Together, these two ...

When it comes to a company’s taxes, there are two important categories to understand: assets and liabilities. Tax liability is anything that a person or company owes taxes on, such as income or ...

This report is one of a series on the adjustments we make to GAAP data so we can measure shareholder value accurately. This report focuses on an adjustment we make to our calculation ofeconomic book ...

Accounting gives a business a way to keep track of its liabilities and expenses. In terms of liability vs. expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. David Kindness is a Certified Public Accountant (CPA) and ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...