Kingsley
Valued Contributor
We all are agree that capital is a reserved wealth or set aside wealth used for the creation of further wealth in an economic definition. While in accounting capital are funds or money used in starting up a business venture, to generate profit.
Looking at both definition we realise that they are both referring to items used to start a business and generate more of the particular item or money. Now in capital we have two major element which include asset and liability. Of course we know liabilities are owings
On the other hand, assets are those items or property of business that brings about further wealth for the business, they could be fixed and/or current asset, fixed asset are land& building, premises, machinery etc while current asset are cash, bank, debtors etc. Asset has nothing to do with owings
what's your take ?
Looking at both definition we realise that they are both referring to items used to start a business and generate more of the particular item or money. Now in capital we have two major element which include asset and liability. Of course we know liabilities are owings
On the other hand, assets are those items or property of business that brings about further wealth for the business, they could be fixed and/or current asset, fixed asset are land& building, premises, machinery etc while current asset are cash, bank, debtors etc. Asset has nothing to do with owings
what's your take ?