Difference between revisions of "Owner's equity"
| Line 1: | Line 1: | ||
[[Owner's equity]] (or, simply, [[equity]]) is rights of financial claims to the assets of an organization. In the basic accounting equation, [[Assets]] minus [[Liabilities]]. | [[Owner's equity]] (or, simply, [[equity]]) is rights of financial claims to the assets of an organization. In the basic accounting equation, [[Assets]] minus [[Liabilities]]. | ||
| − | |||
Revision as of 11:54, 15 December 2018
Owner's equity (or, simply, equity) is rights of financial claims to the assets of an organization. In the basic accounting equation, Assets minus Liabilities.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
