Video analysis

Click on link below to watch video then answer the questions.

http://www.viddler.com/embed/5fa75e02/?f=1&autoplay=0&player=full&disablebranding=0

1.What is the key difference between assets and liabilities? Which of the key financial statements features these categories prominently?

2.Identify the six steps in the accounting cycle.
3.What are the key reasons that firms do ratio analysis?