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 ...

The difference between assets and liabilities may seem clear. However, some details make telling the two apart more difficult.

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 ...

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.

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.

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 ...

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.