Types of Accounts: Assets 💰

🎯 Lesson Objective

Students will:

• Understand what assets are

• Identify different types of assets

• Give real-life examples

🧠 What Are Assets?

Assets are things that a person or business owns that have value 💰

👉 Simply put:
Assets = What you OWN

💡 Examples of Assets

• Cash 💵

• Bank savings 🏦

• Gadgets (phone, laptop) 📱💻

• Car 🚗

• House 🏠

• Equipment or tools 🛠️

📊 Types of Assets

1. 💧 Current Assets (Short-Term)

Assets that can be used or converted into cash quickly

Examples:

• Cash 💵

• Bank account 🏦

• Inventory (items for sale) 📦

2. 🏠 Non-Current Assets (Long-Term)

Assets used for a long time

Examples:

• Building 🏢

• Land 🌍

• Vehicles 🚗

• Equipment 🖥️

🧠 Key Idea

👉 Assets help a business:

• Operate daily

• Earn money

• Grow over time