The Ultimate Guide to Financial Statements

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  • Опубліковано 23 гру 2024

КОМЕНТАРІ • 108

  • @AccountingStuff
    @AccountingStuff  2 місяці тому +8

    Accrued Expenses can be found in which Financial Statement?
    a) Income Statement
    b) Balance Sheet
    c) Cash Flow Statement
    d) None of them
    🔗 FINANCIAL STATEMENT PRACTICE QUESTIONS
    Financial Statement Mini-Quiz: ua-cam.com/users/shortsXKsxLrt6L0o
    Income Statement Mini-Quiz: ua-cam.com/users/shortsEgI9P_VJPDM
    Balance Sheet Mini-Quiz: ua-cam.com/users/shortsMMG5Or8N9-U
    Cash Flow Statement Mini-Quiz: ua-cam.com/users/shorts3-YTBVhZWsk
    ⏱TIMESTAMPS
    00:00 - Intro
    00:36 - What are Financial Statements?
    09:00 - What is a Balance Sheet?
    15:35 - What is an Income Statement?
    19:56 - What is a Cash Flow Statement?

  • @j_b_138
    @j_b_138 2 місяці тому +17

    Your way of creating content is very interesting and creative, making the concepts of accounting much fun to learn. The videos really help a lot of beginners like myself here, keep up the good work james!

    • @AccountingStuff
      @AccountingStuff  2 місяці тому +1

      Thanks! Great to hear you're enjoying these :)

  • @Penelope-fb9bg
    @Penelope-fb9bg 2 місяці тому +4

    I have been using your videos to help me get through my cert 4 in business financial administration. Thanks to you I am nearly done and only have one more project to go. Its on operational budgets... You should do a video on that cause every one on the internet is hard to follow and you are the only person on the internet i can watch to learn things.

  • @deadsylph7397
    @deadsylph7397 2 місяці тому +6

    hi james, it may seem like not all ur videos are getting the attention, but thank uu that u keep going with making them. every year there will be new accounting students and they will immensely need u so dont stop

    • @AccountingStuff
      @AccountingStuff  2 місяці тому +3

      Thanks, I don't plan to stop any time soon

  • @lmxjj9675
    @lmxjj9675 29 днів тому +3

    hi, could you make a video explaining trade receivables and trade payables, and the difference between them?

  • @yashagashe3859
    @yashagashe3859 2 місяці тому +4

    You explain the accounting things very conceptually & precisely,I expect you to post videos on complex accountings topics like financial reporting in the future

  • @bjornastar
    @bjornastar 2 місяці тому +3

    Back again with huge thanks and compliments to you!
    I first stumbled onto your videos looking for a quick explanation of debits and credits... and today I was able to pass a screening test and land an interview for my next step after bookkeeping - thanks to you! I do believe they call that, "doing the good work."
    Kudos to you, truly. My Mom's been a Controller my whole life and never once made these principles as clear or as interesting as you have. But, let's keep that our little secret.

    • @AccountingStuff
      @AccountingStuff  2 місяці тому

      Great news on landing the interview! Best of luck with it :)

  • @m.pranav-is5sn
    @m.pranav-is5sn 22 дні тому +1

    Thank you for clear explanation of each and every concept. Bro can you please put a video for BANK RECONCILIATION STATEMENT.....

    • @AccountingStuff
      @AccountingStuff  21 день тому

      You're very welcome! Here you go... ua-cam.com/video/zhmO3DM3YiY/v-deo.html

  • @theodorelapointe3624
    @theodorelapointe3624 Місяць тому +1

    I thank you deeply for simplifying these for my dyslexic add brain. Love those quizzes as well.

    • @AccountingStuff
      @AccountingStuff  Місяць тому +1

      No problem! I'm dyslexic too so perhaps that helps :)

  • @Octumaria
    @Octumaria Місяць тому +2

    I’m studying accounting and these videos have been so absolutely wonderful. I take down as many notes as I can! Please keep it up. 😊

    • @AccountingStuff
      @AccountingStuff  Місяць тому +1

      That's great to hear! All the best with your studies :)

    • @Octumaria
      @Octumaria Місяць тому

      @@AccountingStuff thank you! I’ve been subscribed since I started researching what degree I wanted to pursue. Now at 22 I started my first year of college and your content has been a wonderful & incredibly valuable resource for me and other students. Thank you!!!🙏🏼

    • @AccountingStuff
      @AccountingStuff  Місяць тому

      @@Octumaria Hope you're enjoying college!

  • @count9548
    @count9548 2 місяці тому +5

    Very nice accounting stuff!

  • @Kitty-lj7eg
    @Kitty-lj7eg 2 місяці тому +1

    Thanks!

  • @mazeemadaline3091
    @mazeemadaline3091 2 місяці тому +3

    Seriously ur vids are saving my degree

  • @allannortje6440
    @allannortje6440 2 місяці тому +24

    Thank you so much Sir, I have been studying accounting for like two years now and this is always a "new learning" curve no matter how well you know everything, please keep this up this is what keeps us alive in the workplace . Much love from South Africa, and May you be Blessed !

    • @AccountingStuff
      @AccountingStuff  2 місяці тому

      Best of luck with your studies!

    • @GBLisa
      @GBLisa 2 місяці тому

      @@AccountingStuff There is a mistake in the trial balance; the equity is not $10,050. It should be calculated as $1,050 + $11,050 - $1,000, resulting in $111,000.

    • @lucasasselmeier7825
      @lucasasselmeier7825 2 місяці тому

      @@GBLisait’s all good it’s just an example

  • @dabananaking09
    @dabananaking09 2 місяці тому +1

    Amazing video! Great way to recap and refresh my knowledge of what I learned a few years ago.

  • @Lalithasakhi17
    @Lalithasakhi17 Місяць тому +1

    Hi james , how are you?..pls a make video on provision for bad debts, bad debts writeoff & what will be the impact on Bls & P/l. Thankyou so much for your content which is very helpful to me. I'm learning alot through your videos.

    • @AccountingStuff
      @AccountingStuff  Місяць тому

      Hey there! I'm doing well, thanks for asking. Cheers for your requests. I'll keep them in mind for future videos :)

  • @suzanmdletshe4190
    @suzanmdletshe4190 Місяць тому +1

    Amazing videos bro
    Keep it up

  • @aamnaaslam5487
    @aamnaaslam5487 2 місяці тому +1

    Another great video! Thanks a lot for making these videos and teaching us in a very fun way. I have a request that can you please make videos on QuickBooks not the ones about posting stuff but about how to analyze and work on trial balance accounts to see if there is some adjustment needed and if there is something off with each account after posting all the data for the year. Again thanks for your content and keep it up!

  • @juanpablorico8239
    @juanpablorico8239 2 місяці тому +1

    Great explication! Compliments to you

  • @mbryanuk
    @mbryanuk 2 місяці тому +2

    Hi, great videos. Can I make a suggestion for a future one. It would be good to get your take on making provisions and allowances for bad debts and writing off bad debts. No-one on here has done it as helpfully as you could…thanks.

  • @novikee07
    @novikee07 2 місяці тому +1

    Thank you so much for your service but if you can manage also upload some videos on manufacturing cost accounts

  • @Crazyblood07
    @Crazyblood07 5 днів тому

    Thanks a lot and love from Nepal

  • @pablodoradoo
    @pablodoradoo 28 днів тому +1

    Hello I have a question unrelated to the video but maybe someone can help me.
    I have a little shop on Etsy and to list an item I have to pay $0.20. Well this listing will last something like 12 months or something like that. I can make several sales on the same listing, so should I treat every listing like a prepaid expense and amortize it every quarter? I will have a bunch of them. Also what if I take the listing down should I write it down from the balance sheet. Is there a more straightforward method?
    I was thinking of expensing it the quarter the listing occurs but I think that's not accurate.
    Please any help is welcome

  • @LearningFinance-m1c
    @LearningFinance-m1c 4 дні тому

    Can you please make a video on business combination & consolidation of FS

  • @tytrrtt
    @tytrrtt 2 місяці тому

    You are fantastic !!!

  • @estacx.
    @estacx. Місяць тому +2

    NO Video On Consolidation?

  • @MyStory-100
    @MyStory-100 Місяць тому

    Thank you for your videos! Do you have anything on bonds? 💛

  • @overhead4577
    @overhead4577 25 днів тому

    Hi, explain pls how to deal with agents in transactions!😊

  • @Mmo0jsSh_
    @Mmo0jsSh_ Місяць тому

    Have you made any videos of Statement of Changes in Equity

  • @hunterbirch3527
    @hunterbirch3527 23 дні тому

    Can you do a video on Horizontal and Vertical analysis?

  • @zsmillion669
    @zsmillion669 2 місяці тому +1

    Please make a video on manufacturing account trading profit or loss ❤❤❤❤❤❤

  • @tylerdeacon8197
    @tylerdeacon8197 Місяць тому

    Where have you been the entire semester I found you just in time to study for finals.

  • @iHCHai
    @iHCHai 2 місяці тому

    Could you please tell me which video editor software do you use for your series?
    Thank you in advance.

  • @hiii1715
    @hiii1715 2 місяці тому

    my exam is tomorrow, you just saved my life

  • @jazza9559
    @jazza9559 2 місяці тому

    Please can you do a video on double entry for bad and doubtful debt?

  • @lhsgolf3
    @lhsgolf3 2 місяці тому

    19:23 what is considered interest expense?

    • @AccountingStuff
      @AccountingStuff  2 місяці тому

      Interest incurred from taking out a bank or commercial loan

  • @Mdirfan-ng1xk
    @Mdirfan-ng1xk 2 місяці тому

    Sir will your videos will be useful to indian students?

  • @lintojoevarghese104
    @lintojoevarghese104 2 місяці тому

    Statement of changes in equity

  • @hardology6665
    @hardology6665 Місяць тому

    hi can u plzzzzzzzzzzzzzz upload debtors detailed chapter from basics to moderate level im seriously struggling a lottt on this ch its likehardest ch of accounting for me it took over 10 days still cant get it

  • @yasmeenkauser6419
    @yasmeenkauser6419 2 місяці тому

    Can you please make a video on suspense accounts

  • @gosu_bg5818
    @gosu_bg5818 2 місяці тому

    Im trying to find an accounting apprenticeship or privately paid course as a recently graduated A level student , could anyone guide me or share some insight please?
    Thanks!

  • @Aarambhkar
    @Aarambhkar 2 місяці тому

    Any student from India ❤🇮🇳

  • @drock5288
    @drock5288 2 місяці тому

    No one uses the direct method for cashflow

  • @kew1900
    @kew1900 2 місяці тому

    yuh🦍🦍🔥🧯

  • @Releasetheheart
    @Releasetheheart Місяць тому

    Bro why are you making and selling cheatsheets Ai is giving free😂

    • @AccountingStuff
      @AccountingStuff  Місяць тому +2

      They provide a visual summary of the content of my videos. It's a handy way for people to keep notes on these topics without having to write them themselves, and it's an opportunity to support this channel. If you're happy to use AI to write your notes then thats fine

  • @RenuDevi-v2y8y
    @RenuDevi-v2y8y 2 місяці тому +1

    🫰yo i was waiting for this video🎥
    Best explained... Easy peasy lemon squeezy way🩵

  • @nompilomakhubu588
    @nompilomakhubu588 2 місяці тому

    You are amazing!! Thanks for simplifying accounting 🧾

  • @LearningFinance-m1c
    @LearningFinance-m1c 4 дні тому

    Can you please make a video on business combination & consolidation of FS