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This video will explain what is asset, liability and equity. If you're new to these terms or need a refresher, you're in the right place.
Assets are things a company owns, like money, stuff they can sell, or property. These are super important because they help a company make money.
Debit is money a company owes to others, like loans or bills they haven't paid yet. It's like when you borrow money from a friend and promise to pay them back later.
Equity is what's left over when you take away all the debts from what the company owns. It's what the owners, or shareholders, get to keep.
Understanding these basics will help you get a handle on how companies work financially
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