Differences Between Assets and Liabilities for Wealth Management

A successful business has more assets than liabilities. An asset is a tangible or intangible resource owned by a company that provides economic benefits in the future. These benefits include generating cash flow, improving sales tax, or liquefying the item to a cash equivalent. A liability is something that a company owes or has to pay for in the future. It can be in the form of a loan, mortgage, account payables, or accrued expenses. Accrued liabilities generally pose a future financial obligation. The key to making wise financial decisions is to invest more in assets over liabilities. In this article, we will look deeper Read More …