This section looks at the definitions and illustrates practical examples of the different types of assets and liabilities. Learn about what defines current and non-current.

This section looks at a company’s balance sheet and draws parallels to your personal balance. Learn about personal net worth and company net worth.

This section helps further cement the understanding of the income statement by illustration of an example.

This section looks at other key elements that make up the income statement, important enough to warrant separate line items in this key financial statement. Learn about what they represent and what kind of insight they reveal about a business.

This section looks at a key concept included in almost all financial statements. This finance concept is not always understood by non-finance professionals and this section will help you understand what it means and how it fits into financial statements.

This section looks at the income statement. Learn about the concepts of income and expenses, what they typically consist of and how do they fit into the income statement. Gross profit, which is common financial jargon is also covered in this section.

This section looks at the classification of accounts which is the beginners guide to accounting. Learn about the four key financial statements that are included in a company’s annual financial statements.

This section helps further cement the understanding of the accounting equation by illustration of an example.

This section looks at the understanding of an equation which forms the foundation of financial accounting. Learn about assets, liabilities and owner’s equity.

This section looks at a key differentiation in the accounting treatment of financial transactions and forms the basis of understanding of all key financial statements.