Balance of payments overview double entry bookkeeping 1

[@Anna-ov4ty]

Please. I was so miserably failying my finance class but you saved my life. Put some ad on it I will happily watch it for you. Please.

[@deepikachaudhary4145]

I am from india. Thank you so much sir you explain in a very good manner that everyone can understand easily. I am in trouble with this topic but you make my day.thanks a lot.👍

[@ryanryotbownds1147]

Great video, I'd like to point out something that helped me. A credit is an increase in liabilities OR a decrease in assets. Just putting that OR helped me realise it's not both things simultaneously.

[@barbarapalmer1595]

Thank you! I finally understand Balance of Payments now. Great job Mike🤓

[@sassyseesh]

Mike, you're the bomb. Thanks!

[@jburton908]

You're the man, Mike, thanks

[@wen4205]

that was really clear! thank you so much!

[@stivicanka2703]

Incredible quality content!

[@johnsmith5139]

it was confusing me regarding WHO was doing the crediting and the debiting: was the local actor crediting the foreign actor, or was the foreign actor crediting the local actor? turns out it was the local actor crediting the foreign actor. so a credit is (somewhat confusingly) a decrease in assets for the local actor, and a debit an increase in assets. thank you for clarifying because this was driving me nuts.

[@user-lc7cl7xw9i]

Thank you so much! You are really saved my life!! You are one of the best teachers.

[@sugandh2540]

Thank you sir , I was not able to understand the concept , and was having so much difficulty , you made it so easy thank you

[@nabilazuhairi302]

Thank you! this was very helpful

[@vishalsonkar9208]

thank you so much sir. for me double bookkeeping system concept was very confusing and you done it very easly

[@taniesha945]

Very very helpful ! Thanks

[@ankan7193]

From India..Thanks a lot for this sir

[@bahyelgharieb2703]

we love you from egypt 😍😍

[@SHLDOfficial]

eh da ya8ali

[@rogierjacobsz3136]

Dear Mike, thanks this was really clear, but could you please give an example of an entry in the official settlements account, for example when the national bank buys foreign reserve. What is the credit entry and what is the debit entry in that case?

[@silviameneghesso8148]

Say the central bank in one country decides to increase its foreign exchange reserves, it could do so buy purchasing, for example, a US treasury bond (this would increase the central bank's USD holdings). The purchase of the bond would then be a debit in the BOP (the country imports a foreign asset). The payment made to the American bank that has sold the bond to the central bank would be a BOP credit (the country exports a home asset).

[@pkmkb7897]

What about unilateral transactions

[@ummehanibharmal2043]

it is very helpful thank you

[@samuelmao5444]

No. You credit a interest and dividend received from abroad, which would be an increase in assets. You're confusing me man

[@vishakhasingla1434]

crediting an interest or a dividend are forms of income. they are thus recorded on the current account, not the capital account. hence, there would be no change in the assets or liabilities. it would be noted on the credit side of CURRENT AND NOT CAPITAL account.

[@mgdpublic]

I really wish teachers would quit this ridiculous use of white/chalk boards rather than prepared slides. Half the time in this video is spent waiting for him to write the damn thing on the board. Such a waste of time.

[@confirmcells3201]

yuh a rude man. be grateful for free info.