EARNING ASSETS 1
At the end of the day, what accounting does is: it measures wealth and talks about how income creates wealth.
There is a world of difference between wealth and income. It is easy to confuse the two. And many think wealth and income are synonymous. Wealth is what is owned. Income is what is earned.
Wealth consists in assets. Income consists in cash inflows.
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Tags: credit rating, earning assets, manhours as earning assets. credit standing, personal banking, Personal Financial StatementsRelated Stories
POSTED IN: Accounting Concepts, Accounting for NonAccountants, Personal / Household Finance, Uncategorized
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