Matching cards for learning assets, liabilities and owners' equity
The goal of this game is to learn how to distinguish the main three accounting objects in an entity.
The game consists of two main groups of cards. On the first group of cards are written the three main objects in a business: ASSETS, LIABILITIES, and CAPITAL.
ASSETS are the resources a business owns, controls and uses in the conduct of its business.
LIABILITIES and CAPITAL are the sources of funds for the acquisition of ASSETS.
When using foreign funds to acquire ASSETS, which funds are refundable, we are talking about LIABILITIES.
When using own funds to acquire ASSETS, such as contributions from owners, partners and investors, we are talking about CAPITAL. This includes reserves and financial results.
On the second group of cards, there are various examples of items (ASSETS) and resources for acquiring these items (LIABILITIES and CAPITAL).
Each card from the first group should be matched with one card of the second group.