会计专业英语 工业和信息化高职高专十二五 规划教材立项项目 教学课件 作者 孙晓媛 3.pptVIP

Accounting English Accounting English Lesson three Accounting Equation and Double-Entry System Words and Phrases 3.2 Accounting elements Accounting elements include assets, liabilities, owner’s equity, revenue, expense and profits of a business. 1. Assets assets are economic resources that are owner and controlled by a business. 2. Liability Liabilities are debts of a business owed to suppliers, banks, etc. 3. Owner’s equity Owner’s equity is the net assets of a business. It is the owner’s interest in the business. 4. Revenue Revenue is the increase in owner’s equity resulting fr