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Dr Tutor,
Net assets = Total assets – total liabilities
Equity = Total assets – total liabilitiesI saw them in Chapter 24 BBP F3 and can not distinguish them. Please help me show the difference between them.
Thanks in advance!
The total equity must always be equal to the net assets.
You are going to have to watch our free lectures – I cannot type them all out here 🙂
In the section chapter of our lecture notes (and the lecture that goes with it) and I explain the accounting equation in detail with examples.Our free lectures are a complete course for Paper F3 and cover everything needed to be able to pass the exam well.
You can find the links to all of our free resources by going to the main Paper F3 page. (On the bar at the top of the page, click on ‘home’, then ‘ACCA’, then ‘F3’.
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