Can you explain the five elements of financial statements?

The five elements of Financial Statements are  1. Assets 2. Liabilities, 3. Equity 4. Revenue and 5. Expenses.

Assets are the company resources such as CVurrent Assets and Fixed Assets.  

Liabilities are the company owes can be short term liabilities or long terms liabilities 

Equity money that owners contribution or owes

Revenue - Income for the period

Expenses the company has to pays with in the given period

Assets

Liabilities

Income

Expenses

Equity