CA Shiv Singhal
Identification- It is always in balance with two sides.
Examples of two sides:
Good Vs. Bad
Day Vs. Night
Strength Vs. Weakness
Happiness Vs. Sorrow
Success Vs. Failure
Asset vs. Liability
Important Connection:
1. Both sides are in different directions but inter dependent.
2. The presence of one thing leads to presence of another.
3. These can’t exist in isolation. When one comes, other also comes.
4. If one goes, the other also goes.
5. Both sides match at all times.
6. What you own is not yours but belongs to someone else.
7. What you feel proud off is not yours and has to go back to the giver.
8. What you are worried about could be handled with what you have.
9. You had nothing which belongs to you and still you have everything to enjoy.
Conclusion:
Balance Sheet is: Full of Assets and Full of Liabilities.
Lesson to be learned:
1. Enjoy all assets you have but understand that it is given by liabilities
2. Asset is a reflection and liability is a reality. At the end reality takes the reflection out.
3. Asset is a creation and Liability is a creator. If creates pulls off, creation goes off.
4. Asset is the fruit and liability is the root.
5. No Asset without Liability.
Final Conclusion: Enjoy Assets To The Extent You Can Afford Liabilities
(Author can be reached at cashivk@gmail.com )
