Equity (finance) and Financial accounting

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Equity (finance) and Financial accounting

Equity (finance) vs. Financial accounting

In accounting, equity (or owner's equity) is the difference between the value of the assets and the value of the liabilities of something owned. Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business.

Accounting

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.

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Accounting equation

The basic accounting equation, also called the balance sheet equation, represents the relationship between the assets, liabilities, and owner's equity of a business.

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Asset

In financial accounting, an asset is an economic resource.

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Balance sheet

In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as Government or not-for-profit entity.

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Common stock

Common stock is a form of corporate equity ownership, a type of security.

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Corporation

A corporation is a company or group of people or an organisation authorized to act as a single entity (legally a person) and recognized as such in law.

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Dividend

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.

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Financial statement

Financial statements (or financial report) is a formal record of the financial activities and position of a business, person, or other entity.

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International Accounting Standards Board

The International Accounting Standards Board (IASB) is the independent, accounting standard-setting body of the IFRS Foundation.

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Liability (financial accounting)

In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

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Net income

In business, net income (total comprehensive income, net earnings, net profit, informally, bottom line) is an entity's income minus cost of goods sold, expenses and taxes for an accounting period.

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Retained earnings

The retained earnings of a corporation is the accumulated net income of the corporation that is retained by the corporation at a particular point of time, such as at the end of the reporting period.

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Shareholder

A shareholder or stockholder is an individual or institution (including a corporation) that legally owns one or more shares of stock in a public or private corporation.

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Stock

The stock (also capital stock) of a corporation is constituted of the equity stock of its owners.

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