Understanding the difference between assets vs liabilities is key to managing your finances. Discover essential concepts and examples in this guide!

Examples of Company Liabilities. The value of your business on any given day is the difference between your assets and liabilities. While many assets have intangible benefits, such as goodwill ...

Running a business highlights the complexity of the tax code, making deferred tax assets (DTAs) challenging yet essential for minimizing tax liability.

For example, assets which do not generate income, do not appreciate in value, but require payments drag your finances down like a liability. A boat, horse, or second home are examples of this.

Liabilities are also claimed by creditors who are obligated to repay. Liabilities are found below assets in the balance sheet section of the financial statement.

A balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholder's equity.

Other current liabilities are debt obligations that are coming due in the next 12 months, and which do not get a separate line on the balance sheet.

Learn why deferred tax liability exists, with specific examples illustrating how it arises due to temporary differences.