University of Dhaka

Prepare to:
Humaira Matin , lecturer
Department of banking
University of Dhaka

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Assignment on finacial terms
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Course code:204
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Prepared by Maiful kausar ikra
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Roll No: 17023
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Department of Banking

Submission Date:
24-01-12

Assets:
In common term, assets mean any tangible and intangible objects which have value to its processor. It can be defined as a source for future economic benefits or control past events. Tangible assets include plants, machineries, cash, trading stocks, and debtors. Intangible assets include goodwill, patents, copyright and trademark. Deferred debit also an asset. Cause it is treated as an asset to create income in future time.

Liabilities:
Liabilities are claims against assets that is existing debt and obligations. All business purchase merchandise on credit and borrow money from different sources to conduct their business. For example purchase on account is called account payable. Notes payable, wages payables, sales payable are also called liabilities. And the creditors claim must be paid before owners claims.

Owner’s equity:
The funds of an organization that have been provided by owners (i.e. its total assets less its total liabilities). The claims of creditors must be paid before owners claims. Owners equity is increased investment by the owners and revenue. And it decreases by the drawings and expenses. For example paid the salary expenses. It decreases owner’s equity.

Debt:
A sum owed by one person or organization to another is called debt. It can be long term or short term and interest may be incurred. It is a part of liability.