Accounting Basics

1. Assets, Liabilities, and Owner's Equity

2. Assets

2.1. The link provided will take you to YouTube and tell you what an asset is: https://www.youtube.com/watch?v=cEZLSRUImJM

2.2. This website will tell you, in detail, about assets: https://www.investopedia.com/terms/a/asset.asp

3. Examples of Assets

3.1. Cash and Cash Equivalent

3.2. Accounts Receivable

3.3. Marketable Securities

3.4. Trademarks

3.5. Product Designs

3.6. Distribution Rights

3.7. Buildings

3.8. Patents

4. Liabilities

4.1. The link provided will take you to YouTube and tell you what a liability is: https://www.youtube.com/watch?v=RZkSY6J9ll8

4.2. This website will tell you, in detail, about liabilities: https://corporatefinanceinstitute.com/resources/knowledge/finance/liability/

5. Examples of Liabilities

5.1. Bank Debt

5.2. Mortgage Debt

5.3. Money Owed to Suppliers

5.4. Wages Owed

5.5. Taxes Owed

6. Owner's Equity

6.1. The link provided will take you to YouTube and tell you what owner's equity is: https://www.youtube.com/watch?v=HzTQo5TFAro

6.2. This website will tell you, in detail, about owner's equity: https://www.indeed.com/career-advice/career-development/owners-equity-definition

7. How to Find Owner's Equity

7.1. Owner's Equity = Assets - Liabilities

8. Tennessee State Standard

8.1. https://www.tn.gov/content/dam/tn/education/ccte/bus/cte_std_accounting_I.pdf