Assets / Liabilities / Equity / Revenue / Expenses Accounts Explained

Assets / Liabilities / Equity / Revenue / Expenses Accounts Explained

There are five types of accounts in accounting you MUST KNOW. Basically, all accounting transactions you will encounter in the future will be classified into these 5 types of accounting accounts. Timestamps: 0:00 - Intro 1:10 - What are assets? 2:48 - What are Liabilities? 3:57 - What is Equity? 5:41 - Accounting Equation (IMPORTANT) 6:45 - What is Revenue? 7:35 - What are Expenses? 8:27 - Income Statement Equation Icons in the Powerpoint Presentation were from: https://www.flaticon.com/free-icons/f... #accounting #accountingbasics #accountancy #assets #liabilities #revenue #expenses #equity #money #cashflow

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