Assets.... we all have them... but how are they actually defined? Can you differentiate assets?
Accounting for Non-Accountants video series. In this video, we explain the accounting definition for an Asset. All businesses will have transactions that will affect different accounts. Knowing exactly what an asset is allows you to process that accounting entry. It’s a really useful resource for helping you to better understand various basic accounting concepts if you don’t have a background in accounting.
A principle-based approach is best for learning and applying accounting.
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