Asset claims
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 = the 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.
