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#assets liabilities and equity — articles

Accounting basics: assets, liabilities, equity, income and expenses

Accounting basics: assets, liabilities, equity, income and expenses

What are assets, liabilities, equity, income and expenses? Simple definitions based on the IFRS Conceptual Framework, examples and a short note on 1C.

22 October 2026
Topics:#language levels#CEFR#CEFR levels A1 to C2#English language levels#what is B2 level#TORFL#TORFL levels#Russian as a foreign language#Excel#Excel functions#XLOOKUP#how XLOOKUP works#VLOOKUP#SUMIF#PivotTable#Flash Fill#accounting basics#what are assets and liabilities#assets liabilities and equity#income and expenses#IFRS#IFRS Conceptual Framework#financial statements#1C