Difference Between Total Claims & Total Assets. Claims and assets make up the backbone of the accounting systems. The famed accounting equation, seen in the budget sheet, is actually a rendition ...

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 ...

Current and contingent liabilities are both important financial matters for a business. The primary difference between the two is that a current liability is an amount that you already owe ...

An income statement shows the ability of a company to generate profit while a balance statement shows a business’s assets and liabilities. Discover the importance and how to read them.

Personal assets may include a house, car, investments, artwork, or home goods. For corporations, assets are listed on the balance sheet and netted against liabilities and equity.

What's the difference between an asset and an expense? Assets and expenses are two fundamental concepts in accounting and finance, but they represent opposite sides of the financial equation.

When addressing proper retirement income makeup, we want to take control of our future tax liabilities by having the proper balance of taxable, tax-deferred, and tax-advantaged assets in our ...

Beyond Social Security and 401 (k)s, Robert Kiyosaki discusses assets and liabilities Rich Dad Poor Dad illustrates two opposing financial mindsets Kiyosaki encountered growing up.