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Basic Accounting Terms Day 2 What You'll Learn In This Video: In this tutorial, we break down the concept of Assets, liabilities, Expenses and incomne. You will learn For Class 11 Accountancy, basic terms cover core financial elements like Assets (resources like cash, buildings), Liabilities (what the business owes), Capital (owner's investment), Income/Revenue (earnings), and Expenses (costs to earn revenue), defining the business's financial health through concepts like Profit, Loss, Debtors (owed money), Creditors (owed to others), Stock (inventory), and understanding Debit (left side, increases assets/expenses) vs. Credit (right side, increases liabilities/revenue). These terms form the foundation for recording transactions, preparing financial statements (like the Balance Sheet), and analyzing a company's financial position 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀 & 𝗟𝗶𝗻𝗸𝘀: Related videos Links Related playlist videos link 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝗪𝗶𝘁𝗵 𝗨𝘀: 𝗙𝗮𝗰𝗲𝗯𝗼𝗼𝗸 𝗣𝗮𝗴𝗲 𝗟𝗶𝗻𝗸 : / 1eri2qe3he 𝗜𝗻𝘀𝘁𝗮𝗴𝗿𝗮𝗺 𝗣𝗮𝗴𝗲 𝗟𝗶𝗻𝗸 https://www.instagram.com/bkeducation... 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝗙𝗮𝗰𝗲𝗯𝗼𝗼𝗸 𝗟𝗶𝗻𝗸 : / 1ha5dep6tm ... 𝗛𝗮𝘃𝗲 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀? 𝗗𝗿𝗼𝗽 𝘁𝗵𝗲𝗺 𝗶𝗻 𝘁𝗵𝗲 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀, 𝗮𝗻𝗱 𝘄𝗲'𝗹𝗹 𝗮𝗻𝘀𝘄𝗲𝗿 𝘁𝗵𝗲𝗺 Don't forget to LIKE , COMMENT, and SUBSCRIBE for more accountancy tips,