Good follow up videos in this series are "what is profit" and "why costs matter" - those give a guided tour of the profit and loss account at an introductory level. Tim.
And here I thought accountants where boring people but Tim goes against the grain. He makes accounting interesting and he's a bit of eye candy for us ladies!
Mr Bennett, I'll probably fail a basic introductory accounting exam in two days, but I have a slight, slight chance of not failing because of your excellent teaching. Thank you very much. If I pass, I owe it all to you.
If only I came across you before, my lecturer made this 20times more complicated than it had to be. I lost sleep trying to remember what element belongs to each statement. Your 13minute video is like I found enlightenment
mdalbrit - no, they wouldn't show on the ledger (nominal or otherwise :) . Contingent liabilities are written up when the financial statements are prepared and a note is added then. The only liabilities that show in the books are ones where the amount and timing is reasonably certain (accounting speak - sorry!). So a liability to pay tax or a trade creditor for example.
I just starded studying accounting in uni and this youtube chanel and this man especialy are a great help. Simple, clear explanation. Easy to understand. Great for a student like me.
Thank you for all your videos. I ve been learning a lot from these videos. By the way has anyone told you that you look like Dr Michael Mosley??? you guys are IDENTICAL!
Perhaps someone could explain this to me please: If we start off by considering my personal finances and my personal 'balance sheet' balances, then if I win a million on the lottery - which is definitely an asset - how is this entered as a liability in order to 'balance' things? Is it because I'm the single and only 'shareholder' in me and this would appear on the right?
None of my teachers explained finances as well and easy as you do. Thank you so much. Great teacher, Great channel.
oh booo hooo teachers have to teach 6-8 classes per day
Good follow up videos in this series are "what is profit" and "why costs matter" - those give a guided tour of the profit and loss account at an introductory level. Tim.
And here I thought accountants where boring people but Tim goes against the grain. He makes accounting interesting and he's a bit of eye candy for us ladies!
Mr Bennett, I'll probably fail a basic introductory accounting exam in two days, but I have a slight, slight chance of not failing because of your excellent teaching. Thank you very much. If I pass, I owe it all to you.
Tim is simply an amazing teacher.
If only I came across you before, my lecturer made this 20times more complicated than it had to be. I lost sleep trying to remember what element belongs to each statement. Your 13minute video is like I found enlightenment
Tim, your summaries are detailed and highly entertaining. Thank you sincerely for your assistance.
Feeling a lot better about my upcoming bookkeeping and accounting courses now that I know you are on the internet.
mdalbrit - no, they wouldn't show on the ledger (nominal or otherwise :) . Contingent liabilities are written up when the financial statements are prepared and a note is added then. The only liabilities that show in the books are ones where the amount and timing is reasonably certain (accounting speak - sorry!). So a liability to pay tax or a trade creditor for example.
appreciate your videos a lot. The videos are to the point without getting lost in details. Do you have specific videos for credit analysis?
You are the best lecture i have came across after did 2 degrees in finance and business.... sadly in my day UA-cam was not a thing!
I just starded studying accounting in uni and this youtube chanel and this man especialy are a great help. Simple, clear explanation. Easy to understand. Great for a student like me.
Very simple and easy to understand
WOW! :) I could not have asked for a better or clearer explanation! Thanks.
As the song says.- YOU SIMPLY THE BEST. Best teacher Ever!!!
Makes understanding accounting so easy, well explained boss!
Best teacher on finance
Wow.....thanks a million and one times. I appreciate the revision you have helped me have as I prepare to undertake my exams in a weeks time.
Tim - Since 'contingent liabilities' are not seen on the balance sheet, would they show up on the ledger, nominally speaking?
Thanks!
M.
thank you for the videos they really help I will be starting a accounting and finance course very soon .thank you very much
You make accounting so easy. Thank you!
May I ask why you wrote the subtraction as multiplication symbol?
Cheers and thanks for the videos.
brilliantly explained,,,, lots f love!!
Great talented teacher
THANKS! I wish I had you as a teacher!
Lot of respect. People like you priceless.Thanks
+vishal s I second that
I agree I wish i'd had a teacher like this man, thank you
Best teacher ever! Keep going..
you are a brilliant teacher. please continue making videos :)
Thanks so much for this video, well explained
thanks for the tutorial, its reflecting very well.
Thank you for all your videos. I ve been learning a lot from these videos. By the way has anyone told you that you look like Dr Michael Mosley??? you guys are IDENTICAL!
absolutely wonderful explanation , enjoyable to watch keep it up
Thank you so much, I am really learning with your great lessons! Good job and please continue :)
Thank you very much. Very helpful
if your asset increases in value or decreases in value over x amount of years how is that reflected in the finance given that it has to be balanced?
No problem - hope you pass! Tim.
I enjoy your presentation style! Thanks for sharing.
very clear, that make it seem, so simple
i would go to class every day if he was my professor or teacher
very well explained
You are awesome, well done 👍
Thanks for explaining this so well and saving my exam grade!
Thank you for sharing the video, it is a good explanation.
good explanation
Excellent
Perhaps someone could explain this to me please: If we start off by considering my personal finances and my personal 'balance sheet' balances, then if I win a million on the lottery - which is definitely an asset - how is this entered as a liability in order to 'balance' things? Is it because I'm the single and only 'shareholder' in me and this would appear on the right?
It is not entered as a liability, it is entered as "owners equity".
he looks like Matthew McConaughey
great video, thank you good sir
nice one tim!
Great help, thanks.
I am watching this after 5 yrs. still relevant or need update
5:50 Central Banks can create wealth from thin air. Man from 2020
"Accountants record everything twice."
product comes in and money must go out ...simple as that.
Thank you so much!
Excellent!
wonderful
Thanks you sir!
Good video
Aha! My first company back in 2013 had a "friendly dad", but his name was Terry!
Thank you.
Who is this teacher?
Utter genius!
thanks...MoneyWeek
Totally agree!
thanks..
Liabilities still confuse the F outta me. A positive number next to something you owe confuses me lol
TNX
ur fantastic thx
Used to think because they were so stingy, they recorded everything twice to avoid mistake...mybad
Who else is here because they think their accounts teacher doesn't deserve their job
What are cooking actually....?
nice
Crackin' lesson....but please stop lending to and borrowing from people down the pub. LOL
great
07.55 lol
5 stars
super
umm wonderful
Gud
Yo, have you thought about this plan called the Intellitus Cash System? (check google). My coworker says it makes people tons of income.
I love you
What a cutie! ;)
YOU NEED TO SIMPLIFY THINGS MORE MATE.
your dates are backward
Cassie Little Show this is how dates are done in the U.K., Canada, and many other places in the world.
Madeline Kim thank you