2Dealing with Financial DataFinancial institutions are among the organizations that deal with critical data that requiresappropriate storage to avoid data loss and breaches. The data structures in these companiesinclude the databases, which consist of critical information concerning the user details, assets,cash flows, liabilities, and equity (Kuzmenko et al., 2021). The databases are significant as theysupport the business. For instance, the business cannot run without the assistance of customers,who are the debtors to the company, and equity, which determines the cash flows.In this approach, the types of data to use with the object include assets, liabilities, equity,income, expenses, and cash flow. Assets refer to the equipment and other things owned by thecompany. Equity denotes the net profit after the owner of the business subtracts the value andliabilities from the value of the business.The main classes where this data can fall are assets, liabilities, and equity. Assets includeany data describing the company’s ownership, such as equipment, buildings, cars, cash, and bankdeposits. The assets describe the company’s resources that have an economic value and areowned by the business with the expectation of providing benefits to the company in the future.
