Module 1: Assets

Module 1: Assets – Understanding What Your Business Owns

The First Building Block of Your Business’s Financial Foundation

Course Objective (short):

In this lesson, you’ll learn what assets are, how to recognize them, how they appear on your Balance Sheet, and how to classify them correctly in your chart of accounts.

Watch: What Are Assets and Why They Matter

What Are Assets?
Assets are resources your business owns that provide future value. If it helps your business operate or brings future economic benefit—it’s an asset.

Examples of Assets:

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Where Assets Show Up

Assets live on your Balance Sheet, typically at the top. They are organized by how quickly they can be turned into cash:

Current Assets (used or converted to cash within 1 year)
- Cash, Accounts Receivable, Inventory
Non-Current Assets (used over multiple years)
- Equipment, Vehicles, Buildings

Quick Tip: An expense is a one-time cost. An asset brings lasting value. Buying a printer = asset. Buying printer paper = expense.

Less Taxing. More Relaxing. Bookkeeping that Works as Hard as You Do.

Module 1: Assets – Understanding What Your Business Owns

Module 1: Assets

Course Objective (short):

What Are Assets?
Assets are resources your business owns that provide future value. If it helps your business operate or brings future economic benefit—it’s an asset.

Where Assets Show Up

Let's Get
Social

Module 1: Assets – Understanding What Your Business Owns

Module 1: Assets

Course Objective (short):

What Are Assets? Assets are resources your business owns that provide future value. If it helps your business operate or brings future economic benefit—it’s an asset.

Where Assets Show Up

Let's Get Social

What Are Assets?
Assets are resources your business owns that provide future value. If it helps your business operate or brings future economic benefit—it’s an asset.

Let's Get
Social