ACCOUNTING Chapter Notes - Chapter 1: Mark Zuckerberg, Investopedia

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This provides information on how to understand the personal balance sheet. When the world"s richest people get ranked, it is based on the person"s net worth. Internet for famous personalities like mark zuckerberg, the founder of facebook. This is something that is actually based on the accounting equation and is what you will be able to nd when you create a. Normally, the accounting equation is viewed from the perspective of assets = liabilities + equity. Personal balance sheet, it is used as equity = assets - liabilities. In this format, equity is the same as. A personal balance sheet tells you your current net worth. It is the measure that is used in order to gauge personal wealth. This statement will tell you that owning a lot of properties doesn"t automatically make you a wealthy person. You will need to have more properties than the amounts that you owe.

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