How to Audit and Analyze a Trial Balance

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  • Опубліковано 4 січ 2025

КОМЕНТАРІ • 132

  • @sergecanepa1971
    @sergecanepa1971 2 роки тому +30

    love this video and how you show a practical example of what an auditor does/the logical thought process behind it

    • @BryanCarretoCPA
      @BryanCarretoCPA  2 роки тому +5

      Appreciate the feedback bro! Please let me know if you have any accounting topic you are struggling with

    • @dennislartey5566
      @dennislartey5566 Рік тому +1

      @@BryanCarretoCPA please we want to know how to prepare working papers, how to audit fixed Asset, payables revenue

  • @CC-wo2xc
    @CC-wo2xc 2 роки тому +34

    On the right track. This was exactly the niche that needs to be filled. Practical audit content. Keep up the good work. More content like this please.

    • @BryanCarretoCPA
      @BryanCarretoCPA  2 роки тому +4

      Appreciate you bro! Definitely on to something here ;). More content on the way

  • @dyvitajones8657
    @dyvitajones8657 10 місяців тому +10

    Current audit associate and I’m feeling pretty slow so reviewing your content is really helpful. I need a lot of help

    • @sashac9526
      @sashac9526 6 місяців тому

      same, gosh. its my first job ever and i had a TB TO FS file and i honestly struggled with it so much

  • @AnnaKatherine-ir4xx
    @AnnaKatherine-ir4xx 4 місяці тому +24

    Obviously CPA exam has been a pain in my butt that won't bother me any longer I have gotten my license already thanks to you Mr Dylan God bless you more cuz you made it possible for me

    • @jameskennedy7472
      @jameskennedy7472 4 місяці тому

      Am sorry for that some people also
      go through difficulties, just be patient
      and keep studying

    • @jaxenriquez
      @jaxenriquez 4 місяці тому

      I saw someone say he is not trustworthy i
      couldn't stop laughing, really people say a lot
      of shit these days.

    • @VanSimon-o2q
      @VanSimon-o2q 4 місяці тому

      He doesn't have a UA-cam channel, why is that?

    • @HendersonJoshua-km9ux
      @HendersonJoshua-km9ux 4 місяці тому

      hello!! This a backdoor we're talking about not
      some kind of extra classes, you really won't
      expect him to have youtubeChannel is not safe for him

    • @melodychibuike
      @melodychibuike 4 місяці тому

      I've heard a lot of good stories about this
      Man all over UA-cam channels can he
      really help

  • @johnankitgomes5442
    @johnankitgomes5442 Рік тому

    Do you know what's the best thing I liked about your video? You really loved and enjoyed teaching your viewers. You took that extra mile, to make your viewers understand.... I really appreciate it. Thank you.

  • @felipau29
    @felipau29 2 роки тому +12

    Currently an audit intern & this was my assignment today. Great content & super useful!

    • @BryanCarretoCPA
      @BryanCarretoCPA  2 роки тому +2

      Awesome bro! Glad it was helpful. Keep me updated on your internship and best of luck

  • @stephendeochua5812
    @stephendeochua5812 11 місяців тому +1

    For a non-accountant, you made it very easy to understand. Thanks alot!

  • @financialservicesprofessio7377
    @financialservicesprofessio7377 Місяць тому +1

    Thank you for this video. I wish there are more videos out there on practical demonstration on "how to" audit, just like there are videos on how to fix a flat tire, or your PC, or your car.

    • @BryanCarretoCPA
      @BryanCarretoCPA  День тому

      I am working on that now. I am hoping this channel can be the answer you are looking for.

  • @caonlyca4971
    @caonlyca4971 2 роки тому +2

    I'm a CA. Loving your video. Please do it more. This is unique in UA-cam channel. You can conquer all finance aspirants and professionals

  • @jayaseto
    @jayaseto Рік тому +1

    Thanks man, I did accounting and got a job as an auditor this is will be very useful when I undertake the audit of the FS come July

  • @PeterPohl-uq7xu
    @PeterPohl-uq7xu Рік тому

    Best introduction to trial balance I have seen on UA-cam.

  • @garyherndon1222
    @garyherndon1222 10 місяців тому +1

    I Just found your page. I’m hooked. I would elaborate, but I’m at the gym. Keep it simple- stupid. The simplicity of the delivery & content are impeccable! Thank you

    • @BryanCarretoCPA
      @BryanCarretoCPA  День тому

      thank you!!! Please let me know anything that might help you further

  • @jimmiejoshua3307
    @jimmiejoshua3307 2 роки тому +5

    Yes, we needed this, great stuff!

  • @k4i808
    @k4i808 2 роки тому +4

    Thank you so much Brian! I start my first audit this morning and I’m so nervous. This was so helpful

    • @BryanCarretoCPA
      @BryanCarretoCPA  2 роки тому +1

      Awesome!
      Glad this was helpful. As you go through your audit please comment any topics you are struggling with

  • @jonathanrianto4668
    @jonathanrianto4668 7 місяців тому +1

    This is so informative and elaborate, i wish if you could make a video of how to do analytical procedures to test all items of the TB and maybe an excel template.

  • @linkercasas1004
    @linkercasas1004 5 місяців тому +1

    Te aventastes carnal!! I love how you incorporate examples along with relevant software commonly used in audits, such as Excel. Thanks for showing how it's done in a practical and functional form. 🤝👍

  • @a.beaverhausen1140
    @a.beaverhausen1140 2 роки тому +6

    Awesome video for students & new auditors! Keep up the great work!

  • @allprolemontonz8448
    @allprolemontonz8448 2 роки тому +5

    Thanks I start as an audit associate in September very helpful series

  • @sarthakapte7288
    @sarthakapte7288 Рік тому +2

    Can you make a video on how to audit inventories and fixed assets

  • @dawatv61
    @dawatv61 3 місяці тому +1

    Mr.Carreto thank you so much, this is excellent.
    we need the full process please please please

    • @BryanCarretoCPA
      @BryanCarretoCPA  День тому

      Thank you! What would you want to see exactly. Please let me know.

  • @johnoloyede4153
    @johnoloyede4153 2 роки тому +4

    Mr.Carreto thank you so much, this is excellent.

  • @miriambrown6229
    @miriambrown6229 8 місяців тому +1

    Subscribed!!
    Thank you for taking the time out of your busy schedule 😘

  • @evang8472
    @evang8472 Рік тому

    Well done!!I'm an associate and been looking for this.Ur content is on point.Thank you.Looking forward to watch more of your videos.

  • @charlesoparah3178
    @charlesoparah3178 10 місяців тому

    Bryan, excellent job. Please make a video on how you developed the WP from scratch.
    Thanks bro.

  • @rhodakejik43
    @rhodakejik43 Рік тому +1

    You are good teacher. Please make the video on how you came up with spreasheet

  • @ronaghimire
    @ronaghimire 2 роки тому +3

    You earned a subscriber! Much love to you and your channel. Hope you do the worksheet video soon. People like me who loves to learn will be so grateful ❤️

    • @BryanCarretoCPA
      @BryanCarretoCPA  2 роки тому +1

      Thank you! What worksheet were you referring to? How to prepare a Trial Balance? If you have any questions please let me know

    • @ronaghimire
      @ronaghimire 2 роки тому +1

      Thanks to you for replying. I was talking about work paper that you have prepared in this video. Can you make a video on this please. I am a newbie and I am struggling to make proper and efficient work papers for analysing data. And thank you in advance for all the great video you will do in future. 🙏🏻❤️ And yes please continue this series.

  • @msbelen2532
    @msbelen2532 2 роки тому +4

    Thanks a lot 🤗 Right on time for my career

    • @BryanCarretoCPA
      @BryanCarretoCPA  2 роки тому +2

      Great! Please leave me a comment on any other topics that come to mind.

  • @pema4624
    @pema4624 Рік тому

    thank you so much! I am struggling at my job and this is very helpful~ very new to audit.

  • @ChristianCPA
    @ChristianCPA 11 місяців тому +1

    I like this guy! He knows his stuff!

    • @BryanCarretoCPA
      @BryanCarretoCPA  11 місяців тому

      I like you too haha.. appreciate it bro

  • @jondoe5590
    @jondoe5590 Рік тому +1

    Can you do a vid on "Balance Sheet reconciliation" please? Lots of job descriptions require this skill, but I only learned about bank reconciliations in school.

  • @charlesoparah3178
    @charlesoparah3178 Рік тому

    Hello Bryan. Very helpful video. Thank you. Please Please make a video about how you prepared the WP from scratch. Thank you.

  • @aRiyomi
    @aRiyomi 2 роки тому +1

    Great video and thanks for being a helpful mentor to audit trainees. We all wish that we could receive the same amount of training and support as you provide your mentees.

  • @CPA-lx4dy
    @CPA-lx4dy 4 місяці тому

    Really helpful! Hope you make a lot more videos like this!

  • @tanyarolle8001
    @tanyarolle8001 11 місяців тому +1

    Please Know that this video is just great quality! A whole course in 30 minutes

  • @GouAndSotsuWereMistakes
    @GouAndSotsuWereMistakes Рік тому

    Thanks mate, this is better than our firm's training video.

  • @kru_tp369
    @kru_tp369 3 місяці тому +1

    Very informative video. Thank you for posting it.

  • @jiscarkavick2952
    @jiscarkavick2952 6 місяців тому

    Can you establish a complete audit of financial statements. Your videos is so real practical. And that's the point that everyone should do. Thank you

  • @brp7016
    @brp7016 Рік тому +3

    Any plans to continue this series!? This is seriously great content !!!

    • @BryanCarretoCPA
      @BryanCarretoCPA  Рік тому +4

      I will definitely be releasing an entire audit series that covers all main parts of a financial statement audit. More to come..

  • @erfansharifi7969
    @erfansharifi7969 7 місяців тому +1

    loved this

  • @Mk-jz7ty
    @Mk-jz7ty Рік тому

    Thank you for your amazing video; Can you please do a video on payroll audit. ADP report vs Income statement payroll line item.

  • @srilekhap9672
    @srilekhap9672 15 днів тому +1

    Plse do more like this audit videos bro ❤

  • @tosinfayiga1044
    @tosinfayiga1044 Рік тому

    Thanks Bryan for this insightful lesson. Please can you do videos on how you generated this trial balance from scratch and another video on statement of change in equity and valued added statement in the financial statement. Please Bryan be a little slow in explaining as I am a slow learner. Thanks once again for the good work you do.

  • @ahmednagy3234
    @ahmednagy3234 9 місяців тому

    Thank you, Bryan. Can you please share with me the worksheet?

  • @hasinarafenoarisoa3747
    @hasinarafenoarisoa3747 Рік тому

    Thank you so much! Could you share (upload ) this file according audit of trial balance, please?
    How to audit the intangible assets, please?

  • @Joe-h6s
    @Joe-h6s Місяць тому +1

    Damn Holmes, that was kick a$$. Thank$

  • @sarthakapte7288
    @sarthakapte7288 Рік тому +1

    Can you ma'am video on how to audit inventories and fixed assets

  • @belindabrooks7620
    @belindabrooks7620 10 місяців тому

    This was so helpful! Subscribed!

  • @abdoulienyassi884
    @abdoulienyassi884 Рік тому

    Wonderful job, but could you make a on how to prepare full financial statements reports. I believe it could be much helpful.

  • @dennislartey5566
    @dennislartey5566 Рік тому +1

    Please do a video on how to develop a working paper

  • @AndreA-qp6in
    @AndreA-qp6in 2 роки тому

    Great video, thank you! When you have some time please make a video on how to analyze cash flow and preform work throughs

  • @denisseh3946
    @denisseh3946 Рік тому

    What about a video on journal entry testing? My senior said I’m working on this next month for a job I’m on… think you could make a video on what this is?

  • @charlesoparah3178
    @charlesoparah3178 Рік тому +1

    Bryan shortcut video please. Thanks

  • @chideraozomma8035
    @chideraozomma8035 8 місяців тому

    This was so insightful.

  • @nigarlalayeva3419
    @nigarlalayeva3419 9 місяців тому

    That’s extremely helpful, thanks for the help

  • @sulemanhassanali
    @sulemanhassanali 3 місяці тому +2

    Thanks

  • @nohakhattab2427
    @nohakhattab2427 Рік тому

    Extremely useful thank you so much !!

  • @amanda2890
    @amanda2890 4 місяці тому +1

    9:02, me checking my client's TB: oh shit its out of whack, im finished

  • @christopherreed3019
    @christopherreed3019 2 роки тому +1

    When you have a credit balance Account receivable, that means you OWE

  • @YujuanLiu-s1x
    @YujuanLiu-s1x Рік тому

    love your vidoes. Please make more vidoes !!!

  • @lizziejumbe5777
    @lizziejumbe5777 11 місяців тому

    So helpful, thank you!

  • @financialservicesprofessio7377
    @financialservicesprofessio7377 Місяць тому +1

    I need your professional advise. I am a CPA, for about 6 years, but have never practiced. I have always worked in the private sector and never as an accountant. However, on the side, I do a few bookkeeping and taxes. I am comfortable with qb software and the principle of accounting.
    Today, my CEO instructed me to perform a complete audit of our books, as though I was an outside auditor. He wants me to audit every expense, payables, and income. He has a feeling that staff have been messing up somewhere but he could not be sure. We are a small company with about $3M in revenue. And, we are in a subscription business.
    How would you approach this situation? I have zero experience in this area, but it will be a good practice, since I am not out there examining other people's books. Any suggestions would be greatly appreciated.
    Sincerely,
    MB

    • @BryanCarretoCPA
      @BryanCarretoCPA  День тому

      Hi hope all is well. If you can book a coaching call with me that would be great.
      In summary, I would first analyze each account a certain period end depending on when you want to get comfortable with the balances. Then I would perform testing on each account to ensure its accurate at a point in time for balance sheet accounts and for a period of time for your revenue accounts.

  • @waeeeezeeeee
    @waeeeezeeeee 2 роки тому +2

    omg ive been searching for this type of video ! T_T

  • @tecfab4557
    @tecfab4557 2 роки тому

    Very informative, thank you. When you have the chance, can you please make a video on risk assessments and internal controls? Thanks🙏🙏

  • @musicreboost
    @musicreboost 4 місяці тому

    Excellent video, could you record a video with cash flow analysis? ❤

  • @hamzahfrs6548
    @hamzahfrs6548 Рік тому

    Thanks a lot this is really helpful

  • @jnkvngz2965
    @jnkvngz2965 Рік тому

    Great insights!

  • @denisseh3946
    @denisseh3946 Рік тому

    Have you made a shortcut video? For excel

  • @stikofbota6499
    @stikofbota6499 2 роки тому +4

    More like this one ☝️

  • @hansredgate1
    @hansredgate1 2 роки тому

    Quick question, you see prepaid as being quantitatively immaterial 0 balance at reporting so it won’t be tested. However, would you do then more testing on opex or cogs closer to cutoff period? Or would this be verified with testing of payables?

  • @hasinarafenoarisoa3747
    @hasinarafenoarisoa3747 Рік тому

    Could you make videos about NPO Auditing, please?

  • @nanyongacissy-w5y
    @nanyongacissy-w5y Рік тому

    PLEASE MAKE A VIDEO ON HOW TO CREATE A WORKING PAPER

  • @olayinkayisa2477
    @olayinkayisa2477 Рік тому

    Awesome

  • @allison1876
    @allison1876 2 місяці тому

    Yes please shortcut video I need it 🥹🥹🥹🥹

  • @alfonzaareid8883
    @alfonzaareid8883 3 місяці тому +1

    How much do you charge though? I need mines audited please.

  • @nidhilakhani9340
    @nidhilakhani9340 9 місяців тому

    Please create video audit workpapers for each line item

  • @oyebolaakinyemiaca9592
    @oyebolaakinyemiaca9592 2 місяці тому +1

  • @tosinfayiga1044
    @tosinfayiga1044 Рік тому

    Plaese Bryan, can you kindly avail me any of your social media address with which i can reach you incase i have a question or there is something i do not understand? Pleaseeeeeeeeeee!!!

  • @tosinfayiga1044
    @tosinfayiga1044 Рік тому

    Plaese Bryan, can you kindly avail me any of your social media address(WhatsApp or telegram)where i can reach you incase i have a question or there is something i do not understand? Pleaseeeeeeeeeee!!!