Difference between revisions of "Asset claims"
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| − | [[ | + | [[Asset claims]] (alternatively known as [[equities]]; hereinafter, the ''Claims'') The rights of financial claims of [[creditor]]s (which are [[liabilities]]) and owners (which is [[owner's equity]]) who supply the [[assets]] to an [[organization]]. The ''Claims'' ([[equities]]) = [[liabilities]] ([[liabilities|debtors' equity]]) + [[owner's equity]]. The monetary amount of the ''Claims'' are always equal to that amount of [[assets]]; [[assets]] = [[asset claims]]. |
Revision as of 19:15, 17 December 2018
Asset claims (alternatively known as equities; hereinafter, the Claims) The rights of financial claims of creditors (which are liabilities) and owners (which is owner's equity) who supply the assets to an organization. The Claims (equities) = liabilities (debtors' equity) + owner's equity. The monetary amount of the Claims are always equal to that amount of assets; assets = asset claims.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Equities. The rights of financial claims of creditors (liabilities) and owners (owner's equity) who supply the assets to an organization.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
