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Tushar Aher Patil
Trying to do better • 8m
Day 5 About Basic Finance and Accounting Concepts Here's Some New Concepts An asset is anything that an individual, company, or government owns that holds value and can generate future benefits. Assets are essential components in financial accounting and analysis, as they represent resources that can help an entity achieve its goals. They are generally classified into several categories based on their nature and liquidity (how quickly they can be converted into cash). Types of Assets 1. Current Assets Assets that are expected to be converted into cash or used up within a year. Examples: cash, cash equivalents (like treasury bills), accounts receivable (money owed by customers), inventory (goods for sale), and short-term investments. 2. Non-Current Assets (Fixed Assets) Long-term assets used for more than one year, often for business operations. Examples: property, plant, and equipment (like buildings and machinery), land, and long-term investments.
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Tushar Aher Patil
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Day 7 About Basic Finance and Accounting Concepts Here's Some New Concepts 8. Liquid Assets Easily convertible into cash without a significant loss in value. Examples: cash, cash equivalents, and accounts receivable. 9. Illiquid Assets Assets
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Day 9 About Basic Finance and Accounting Concepts Here's Some New Concepts 2. Non-Current (Long-Term) Liabilities Non-current liabilities are long-term debts that are due beyond one year. These are generally used to fund large purchases or investme
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Day 6 About Basic Finance and Accounting Concepts Here's Some New Concepts 3. Tangible Assets Physical assets that have a physical form and can be touched. Examples: machinery, real estate, vehicles, inventory, and office supplies. 4. Intangibl
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Anirudh Gupta
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Fellas, I'm doing a self-post challenge where I'm going to explain a business term briefly every day Today's term: Assets Assets are resources that are owned by a company that provide economic value and future benefits such as generating income, im
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Day 10 About Basic Finance and Accounting Concepts Here's Some New Concepts 3. Contingent Liabilities Contingent liabilities are potential obligations that may arise depending on the outcome of a future event. These liabilities are not always guar
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