Welcome to the 2nd video in my online bookkeeping course. This course will teach you the basics of double entry bookkeeping. This video will teach financial terms, such as, capital, asset and liability. Next Video: 30 day FREE trial for Sage Business Cloud Accounting – – NO card needed Facebook – Twitter – Instagram – Many more FREE videos and courses at The ULTIMATE bookkeeping and accounting course –

29 Replies to “Free Bookkeeping Course – Part 2 – Financial Terms #bookkeepingcourse #learnbookkeeping”

  1. hey there, can something that you purchase for your business, say equipment, be both an asset and a liability? say you own a bulldozer, but you’re still paying a loan for that bulldozer?

    1. It cannot be both but purchasing an asset could lead to having a liability, such as a finance agreement or loan. These are 2 separate things though. The bulldozer is an asset. The loan is a liability. I hope this helps. Thanks for watching.

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  3. Thanks for the contnet. I am just on video one but you make it really to understand and I am looking forward to finishing the series. Thumbs up!

  4. I love accounting with all my heart, but that love got dimmed by not understanding it in high school due to the language barrier between us and our teacher. This caused me a lot of confusion, leading to almost failing at the end of the year. This feels like a second chance to pursuing the one course or even career that I originally want to pursue at a young age. Thank you for this.

  5. Wonderful content! Thank you. A mother of 3 here hoping for a change of careers and maybe work from home homehow.

    1. I would consider a mortgage liability if one is making payments. On the other hand, once someone pays off their loan, it becomes an asset.

      Good question! Hopefully, Bookkeeping Master or someone else can explain it more straightforwardly if the answer I gave doesn’t make sense.

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