The document discusses assets and liabilities from an IT manager's perspective. It defines assets as things a company invests in to make money, with current assets being the most liquid and able to be converted to cash within a year. Liabilities are defined as money owed to creditors, with current liabilities needing to be repaid within a year. It states that as an IT manager, it is important to understand basic financial terms like assets and liabilities in order to effectively communicate the company's financial situation to the IT team.