acg2021 at Florida International University

2. Assets vs Liabilities

in Chapter 1 (Video 2 of 16)
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Here we tackle the first two parts of the Accounting Equation: Assets and Liabilities. What do those words actually mean? How are they the same? How are they different? We'll find out!

The Rest Of The Videos

1 The Accounting Equation 3:02
2 Assets vs Liabilities
You are here. 		5:32
3 Shareholder's Equity 5:26
4 The Balance Sheet 5:52
5 The Statement of Retained Earnings 5:51
6 The Income Statement 6:19
7 The Statement of Cash Flows 6:02
8 How the Statements Work Together 9:02
9 Current Assets 9:57
10 Non-Current Assets 10:25
11 Current Liabilities 6:24
12 Non-Current Liabilites 2:00
13 Contributed Capital 5:10
14 The Classified Balance Sheet 4:48
15 The Multistep Income Statement 12:44
16 Retained Earnings vs Shareholder's Equity 6:41
Chapter 2 →

Chapter 1 Practice Problems

Click Here to View All Chapter 1 Problems at Once View
1 Current Assets Easy
2 Matching Basic Vocabulary Easy
3 Retained Earnings Easy
4 Account Classifications Moderate
5 Solving for Missing Amounts Moderate
6 Solving for Net Income Moderate
7 Tying the Statements Together Moderate
8 Account Classifications Hard
9 Calculating Operating Income Hard
10 Solving for Retained Earnings Hard

Did I miss anything in Chapter 1?

What Did I Miss?