What is equity in accounting?

Accounting Equation(: Assets take daaa liability equalll the equity....?

• This is complicated to understand the accounting equation, but i still understood it, any easy one and a better site for my English level? http://www.accountingexplanation.com/accounting_equation.htm I knew the Assets - Liability = Equity and equity is capital is how much money you have, or it could be your business? and liability is money you owe to someone, in debt. an asset is a resource controlled by the entity (business) for future economic benefits. I just started this accounting course, and today was my first day, please correct me if i'm wrong and help me with this, i've tried studying and just worry i would fail this course, the book is pretty complicated but its readable and understandable, takes time, no chance for me to be the top, but hope its enough to just pass ;)

• Answer:

  http://video.search.yahoo.com/search/video;_ylt=A0oG7t1G_S9PVGYADSFXNyoA?p=Accounting%20equation&fr=sfp&fr2=piv-web