Personal Equity (Net worth)

The concept of equity applies to individual people as much as it does to businesses. We all have our own personal net worth, and a variety of assets and liabilities we can use to calculate our net worth.

Common examples of personal assets include:

1.      Cash

2.      Real estate

3.      Investments

4.      Furniture and household items

5.      Cars and other vehicles

Common examples of personal liabilities include:

1.      Credit card debt

2.      Lines of credit

3.      Outstanding bills (phone, electric, water, etc.)

4.      Student loans

5.      Mortgages

The difference between all your assets and all your liabilities is your personal net worth.

Example in Excel

Let’s look at an example of two different approaches in Excel. The first is the accounting approach, which determines the book value, and the second is the finance approach, which estimates the market value.


 

 

Comments

Post a Comment

Popular posts from this blog

Managing your hospital has never been easier

HOSPITAL MANAGEMENT SYSTEM Managing a hospital can be a complex and challenging task. But with our hospital management system, it has never been easier! Our system is designed to streamline your hospital operations, enabling you to manage patient records, appointments, billing, inventory, and more, all in one centralized location. With our intuitive and user-friendly interface, hospital staff can easily navigate and use the system, while also allowing for customization to fit the unique needs of your hospital. Our hospital management system includes features such as automated appointment reminders and patient communication, reducing the burden on hospital staff and improving patient engagement. You can also easily manage inventory levels, set reordering thresholds, and generate reports to help you make informed decisions about inventory management. In addition, our system helps ensure that patient data is accurate and accessible, making it easier to provide timely and effective care. W
Read more

HOW TO COMBINE SERVICE IN COLUMN SALES REPORT IN WELLNESS MANAGEMENT SYSTEM?

In a Wellness Management System, integrating a service column into a sales report is crucial for tracking and analyzing revenue generated from various wellness services offered by the establishment. Here's a more detailed description of how this system function might work:   Service Integration in Sales Report: Service Categorization: Firstly, the system categorizes wellness services offered by the establishment. These services can include massage therapy, fitness classes, spa treatments, nutritional consultations, etc. Service Identification: Each service is assigned a unique identifier within the system for easy tracking. This identifier helps in differentiating between various services and accurately recording sales data. Transaction Recording : When a customer purchases a wellness service, whether it's a one-time session or a package, the transaction is recorded in the system. The transaction includes details such as the service purchased, date and time, custo
Read more

Bullies

I asked my son why he still sleepy thou he just woke up. He cannot even open his eyes. Hes having hard time sitting on bed.  I asked him why his still sleepy. He told me that he cannot sleep, his having hard times sleeping. His mind and eyes were wide open very long hours at night for almost many days.  I was shocked to know that. So, I traced when the many days he stated started. So, when I found out that its almost 3 days.  I asked my son why and what keeps him awake for 3 days each night? Then he commented " The world is full of bullies". I felt sadness in my heart as I hugged him.  I asked him about all the people involved in his bully experiences and what happen during those interactions and what is his reactions. After hearing it i asked him to pray with me. Then decided that every day we will talk about bullies until we learn how to have a positive response about it.  We came up to a decision that we will always pray for those people and in Gods time, i will try my bes
Read more