Basic Concept of Accounting By Saheb Academy - Class 11 / B.COM / CA Foundation

In this video I have explained the basic concept of accounting in a simple way and this is especially for science background students.
Here I have explained
⏱TIMESTAMPS
0:00 - Intro
0:12 - What is Accountancy?
3:03 - Accounting Process
5:06 - 5 Elements of Financial Statements
6:13 - Asset?
8:34 - Expense?
10:38 - Liability?
12:58 - Equity or Capital?
16:38 - Revenue?
17:44 - Practical Example
24:41 - What is Double Entry System?
28:47 - Debit and Credit Balances
This is for the students of CLASS 11, B.COM, BBA, CA INTER, CMA and any other accounting courses.
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#Accountancy #FinancialAccounting #Class11

[@SahebAcademy]

⏱TIMESTAMPS 0:00 - Intro 0:12 - What is Accountancy? 3:03 - Accounting Process 5:06 - 5 Elements of Financial Statements 6:13 - Asset? 8:34 - Expense? 10:38 - Liability? 12:58 - Equity or Capital? 16:38 - Revenue? 17:44 - Practical Example 24:41 - What is Double Entry System? 28:47 - Debit and Credit Balances

[@yoyohoneysinghemiway6168]

Where is trading account and profit and loss account

[@piyushg4u]

Use more hindi please.. While explaining.. Not terms in hindi

[@snap19]

You're so kind to do all this for us....🥰

[@sapnascreativeworld]

Well explained... Thanks for sharing..

[@lakshmip.s.6959]

Clear explanation

[@mohammadazaruddin1806]

16:24 When he said, don't worry, we will come back to this, he knows, there are people like me. Such good tonality. Couldn't skip a second.

[@anshitagupta115]

Absolutely right!

[@sadhanaRana-123]

Thank u for last word

[@behappy1644]

Man!! Who are you my son. What a teaching. Amazing!! I am 34 yrs and a mother of 2 kids. I am basically a Bcom student 2007 passed out. I don't have knowledge in accounts. But I really wanted to be an accountant. So far my hope on myself is dead. To be very frank, ur video rocks, now I have gutts hope to face the world as an accountant... Thank you so much son. Stay blessed 🙏

[@PankajKumar-yo8eq]

Lol 😂

[@whiteguy6978]

😂😂😂

[@SubhashDoddi]

Your teaching is really amazing.... Thank you for your great efforts

[@douma1131]

🤣😂😂😂😂

[@preetidodeja5999]

Same here

[@sujansubedi3832]

I did my Master's in Professional Accounting, but never got to see a teacher like you before. Hats off to your effort man. You deserve more, Keep educating people.

[@vidyakulkarni6311]

Yes .

[@surajruchal4199]

Exactly, clear and to the point.👍

[@nirmalphotography414]

Yes of course. Wonderful teacher .

[@bhavyajain336]

vo course kara hai toh yaha kiya hai toh yaha kyo aayo ho

[@itzmeerkashmiriofficial0786]

​@@vidyakulkarni6311😊😅😅😅😅😅😅😅

[@esmaelmohamed8209]

No one teach like Indian people, They are Inborn and polite. Excellent

[@shabrozkhan8076]

An engineer who is doing MBA in finance can understand the importance of this video... Amazing keep on updating ❤️

[@cathycathy6429]

From where are U doing MBA in finance ..which college?

[@aidasyahidahizzudin6525]

Yes. I agree with you. I am a MBA student as well. Nice to meet you! I am from Indonesia

[@hebao_maria4246]

I can relate 🥲as a pharmacist doing MBA

[@manojbaria6328]

Even in M.Tech in Civil, we have subject construction finance and accounting. And this is indeed very helpful to understand.

[@ramshipayyoli346]

@@hebao_maria4246 where

[@amandap4545]

I took accounting classes, and work in accounting and didnt even fully understand. This is wayyy better than any teacher I have ever had. Amazing conent and teachings! 👏👏

[@shAdow_s0vEreiGn]

All you have explained and taught about the basic accounting for only 30 mins are the things I've learned for a whole semester back in my college days. Awesome

[@shayak20]

You should definitely be awarded the title of 'Best Educator' on the whole Indian YT domain... with such simplistic resources, but super-premium content...!!! Absolutely outstanding... I repeat, on the whole Indian YT domain...!!! Accept my respect.. 🙏🙏🙏

[@ivorysuasula8273]

Before I understand nothing about accounting, now I love to know more accounting, his explanation is all I need.

[@iqraakram6898]

Your way of explaining is far better than our grumpy tutors who never clarifies basic termnologies.

[@deathstrke622]

Real Bro

[@strn1234]

Thank you so much for doing this. You don't know how much I needed this. Have a wonderful day!

[@williamduncan7401]

Why do you want basic terms being clarified? Instead of wasting valuable time, you can just spend your extra 10 seconds looking it up. Dictionaies, encyclopedias and so on do exist in this century. I do not need a 30-minute video explaining what the most basic terms mean! I can check this out with a simple search! Show me how it works instead!

[@emilypapillon]

Exaclty!!

[@vsk_bts]

Lol 😆 ... that's the bitter truth

[@deboraharyeetey7785]

OMG, we need more lecturers like you. You made everything seem so simple and very comprehensible, in fact after every lecture in class I'll just come to your channel for better understanding. This was so simple and I have been stressing my head out.thank you very much

[@ayantusisay9009]

You are such amazing instructor thank you! I would like to say continue! & Educate generations.

[@ezekiela.ckoroma9490]

Ive just listen to 7 minutes of your video and im already amazed how simple and understandable you're making these things to be. God bless you man

[@punittube]

I have been confused with this basics for 4 years, yeah 4 years but thankfully i found this. Video and have cleared my doubts. Thank you 🙏

[@peteraaron6714]

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Lucy Mary Liam

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Wow I'm just shocked someone mentioned expert Mrs Lucy Mary Liam I thought I'm the only one trading with her

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I remember starting this journey with half BTC but in 14 months I have made 17.8 BTC form days and swing trading with expert Mrs Lucy Mary Liam.

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Ever since I lost my job with the ministry I have been surviving through my investment with Mrs Lucy Mary Liam, I'm so glad I invested when I did

[@jordanmorris9663]

I met her in a conference in Washington DC and after her speech I was opportune to meet her and I started investing, I'm happy today because of expert Mrs Lucy Mary Liam

[@catch_me_if_you_can_1]

You are my teacher who teaches me without fees ❤️

[@carguy1013]

Your views and likes are the fee's you pay him

[@carguy1013]

The advertisments you watch on his videos are your fees

[@Santhosh.21_]

​@@carguy1013 so? Its better than fucking actors

[@Santhosh.21_]

​@@carguy1013 always complaining about who teach bro i paid more than 3 lakh for college and 11 th and 12 th so what

[@kumararyan7540]

@@Santhosh.21_ i paid 33 lakh! so what?

[@satyanarayanamurthy3914]

Very many thanks for the way you explained the concepts crystal clearly-- easy to understand and remember. I studied the basics 48 years ago. I watched the video just for timepass. The video is really interesting and absorbing even for senior citizens like me (63+) May the Almighty shower His choicest blessings upon you! BS Murthy, Hyderabad.

[@SahebAcademy]

Thanks a lot for your comment...It means a lot to me☺️

[@preciousannesanchez4483]

I love how you explained it smoothly! If my previous professors taught basic accounting this way, I would have understood it better 💗

[@Jmx9911]

I agree 🥲

[@jonathaneya8953]

@@Jmx9911 aooo

[@leslierevi8318]

After going through so many videos in learning Accounting, your basic tutorial can be considered as one of the best videos I've come across...........

[@nimmyvp]

I am student of ninth and i was curious about accountancy, this is my first time watching about accountancy and it is crystal clear. thanks

[@ajaymundhe__]

I'm from science background! And you have explain in an incredible way man! Especially your presentation skill is so unique!❤

[@Bhumika-xo1vy]

Hey!🙋🏻‍♀️Even I'm from science stream. If you're currently studying Business Administration, can you please tell me the major focusable concept for the beginning year?

[@bhoomika_kashyap]

You're the best accounts teacher I've come across. I'm a science student doing bcom now. I was feeling really difficult with accountancy. I didn't even know the basics. You're videos are helping me a lot. Thank you soo soo much ❤️

[@AnmolMishra946]

I am also a science student going to do BBA is it going to be difficult? Or should I go on with engineering?

[@gauravrmisar]

U r not alone 😎

[@thorshafeeq]

Yes, he is a very good teacher i also got everything.

[@priyankaghosh2948]

Is it possible that one had science stream in 10+2 and pursue a b.com degree in college?

[@AmitKumar-so5mw]

Where are you preparing your other subjects of bcom from yt.

[@varabondo0243]

Extraordinary presentation..... I have learnt this in 11th and 12 th standard.... Once again i have recollected after 7yrs..... Thanks so much 👍

[@BananaHannaah]

Youre the best i needed a refresh to my memory because i have an interview for my first accounting job and needed this

[@SahebAcademy]

All the best for your interview 😊👍🏼

[@Aurora-ut1um]

i'm a STEM/science student for like the whole 6 years of my highschool life and my dream is to be an accountant. It means a lot that there are tutorial videos especially dedicated for ppl like me who really wants to take Accountancy despite the lack of background to it. It was very well explained compared to the other vids i have found early. I hope i could take this course and do well in it! *fingers crossed* TT

[@williamduncan7401]

If you want to be an accountant, I don't think you can rely on KZbin videos. In my opinion, you don't need any background either. As far as I understand, the job is straightforward, but just as a lawyer, you need to keep up with the latest regulations, practices, etc. which is something that many entrepreneurs just don't have the time to do, hence hire an accountant.

[@swarupabalaram8192]

Your way of teaching is neat and clear ,thank you 😊

[@TuanTran-dq8ov]

Wow....the best accounting lecture I ever learned compared with other online sources. The instructor is very thorough, meticulous, and methodical. Half way through this lesson I immediately hit the Subscribe button knowing for sure I will come back learn more and it's way more effective than reading accounting books...thank you so much for all your effort!

[@olorunfemibernard8855]

You just explained a full textbook within 33mins. Bravo to you. I have subscribed to your channel 😘

[@yashmjain95]

This was a great video. I am from science background and never understood really the credit debit nomenclature for various elements. Now it is a bit clear. Thank you!

[@con-fusion3913]

The dislikes are from the teachers who can't teach like him lol. Edit: oh god the likes

[@shalinireddy8168]

Yes ur right

[@bharathipatel3136]

😂😂

[@yohannesgulilat4986]

PERFECT!!!

[@taniasen]

Hahaha well said bro..

[@Queenpower03]

Definitely yess😂😂

[@Vickphillips]

Omg this video is so explanatory you deserve an award!!! Thank you for the amazing videos you make

[@chirazbeldjoudi5384]

i had some difficulties understanding the credit and debit concept but with this video i finally understood!!! im so satisfied, i wish all the best for this teacher.

[@MonsurChowdhury2]

Currently, I am in canada. You are explaining well than my professor here and yeh I've switched from science so these things are new to me. Thanks for making it easy. Regards

[@sushovita3842]

i am a student of pcb...but thinking to do bcom ....a little weak in maths and dont know abt accounting .....should i go for it....please help

[@saitama4410]

@@sushovita3842 Yes, Accounting requires basic maths, not too complicated to learn. Go for it.

[@purvikaanand3194]

Dude! This was lovely.✨🖖🖤✨ You're very good at this. Cheers! - Purvika Anand

[@anupamtopno1250]

I am so lucky to have such a good teacher like you. Your teaching skill is amazing

[@Bright_Phiri]

You are amazing teacher.🤗❤️ Thank you for helping me grasp accounting concepts. They appeared difficult to comprehend not until I started watching your videos. I will always use you as I reference point in my success of accounts.

[@59.rekhatepritiprabhakar84]

1st time itna axcha tutorial mila hai youtube pr...jisme bore bhi nhi hua😍😍😍aud sab smz mai bhi aaya...thnk u so much sir....huge respect

[@SahebAcademy]

😊👍🏼

[@listner_musthak6361]

Hah a😂😂

[@YathishYYathish]

Hi

[@dkshyam3023]

After a decade I got a teacher as like my wish...if you would be teacher of mine in our college..then I can score above 99%...thank you so much as you explained it very well 😊

[@siphoncube6835]

This is very helpful, especially for someone like me who has a science background. The basic definitions now make much sense to me. U have my gratitude.

[@deninedeal5481]

I learned more from this video than I did in 8 weeks of my graduate-level accounting course...I actually enjoyed learning about accounting listening to you. Thanks so much and keep up the great videos!

[@umakanwar]

The best video. When we have complete knowledge of something, we teach our best. You are perfect. You are the best. By listening only once I am able to understand. Thank you.

[@prabodhamadhubhashini3556]

Thank you so much for teaching this in a way that a beginner can understand. I am so happy that I found this channel finally 💓💐

[@Fouji_pb19]

i didn't understand accounting basics in my 2 hours of lecture by a college professor but you teaches me in 30 minutes only, i really appreciate it . thanks man

[@sushmal4516]

Thank you so much, I have 1st sem MBA in correspondence exam in a week, this helped a lot.. you talk to the point and made me understand easily.. The flash card thing is awesome. Appreciate your efforts..

[@sarweshware]

I don't attend classes in the present due to situations..but interest in me to study grows more and more with your teachings. Thank you so much sir

[@samirshaikh4570]

Even my Account teacher has never explained me like this i've got understand every single thing that has been explained by you so thanks :)

[@suneetavagiri4422]

Just great Teacher. The way u explained Just fantastic. Thank you is small word. God Bless YOU with HIS ABUNDANT KNOWLEDGE.

[@dadatamoja6859]

Thanks mate, i wish you all the best and to teach us more and long, the world needs teachers like you!

[@kiritupadhyay5457]

I am sr citizen, b. A. Graduate. I want learn accounting from basic in current idle time. Your method of explaining is very good. Your English is also very simple to understand. This is my first attempt on KZbin to learn accounting. Thank you so much sir.

[@pranitachettri5405]

Thnk you sir .. Your teaching skills is so Rewarding ... I really need this video ... I am coming from arts background but I want to make my career in accounting and finance ..❤️❤️ Lots of love from darjeeling ❤️❤️

[@nsdisha311]

Hi can u put me your phone number iam also need a drawing plz akkei

[@bhumivlogs23]

Hello mam I am tried to speak in English please tell me how to speak fluent English please

[@gulmirashermatova5304]

Simply “Bravo”, am amazed how you are explaining the whole accounting, Keep up the GREAT JOB!

[@KufreOkon-fh5ij]

Accounting is a course I always been running away from. Believe me, I have given my life to accounting with your 30minute tutorials. Thank you so much ❤️❤️

[@fridahwanjiku7139]

So refreshing to get such information. You are a great instructor. Thank you

[@omranashingab1377]

Simply beautiful way to explain something. Really Impressed, I am an entrepreneur and accounting was needed to be understood because of startup requirement. Got it cleared in 40 mins. Those cards really do the magic.

[@reshmaroychoudhury3037]

God Bless U. Today I came across ur video. I m 43yrs old studied. Commerce student ur teaching stolen my heart kid

[@mzbee1021]

Idk how you did it but this has been THEEEEE most helpful video i finally feel like i understand the debits and credits. ive been going crazy trying to wrap my head around it. Now i feel like i can pass my course! Thank You!!

[@ethereal946]

Thank you for not using hindi and using a more universal language instead.❤️

[@user-jc1so1ud8o]

What is problem with hindi

[@shellyannhenry3833]

Wow, such clarity!! Thank you so much for your help!

[@ganesankothandan1972]

Amazing. Though I taught Accounting for many years, today I got to know the new (revised) definitions of the basic concepts . Wonderful teaching. All the best.

[@pratikshamore7329]

Oh god! The way you cleared all the concepts. Damn!!! You're the only one because of whom I'm going to pass my exam tomorrow. I really appreciate your skills 👍👍

[@sudarsanbala415]

One of the best tutors of accounts in KZbin. Thank you for neat explaining & best wishes for ur future. I subscribed to this channel for ur clear explanation.

[@anjalanazreelibrahim6752]

Very helpful, I'm science based, now trying for CMA, your classes are just like blessings, thank you so much

[@gayanmadusanka5230]

This is the best explanation I have ever heard on the accounting procedure. You are a gifted guy. People should celebrate you

[@gretchenwetzel7313]

Thank you! The most helpful thing you have said is that there’s no reason for these rules. Coming from a science background, I was really hung up on WHY these rules existed and nobody could tell me… and thus I couldn’t logic my way through problems by applying underlying principles to the situation at hand (as you would in a STEM field exam). Even though it’s still a foreign concept to me to just memorize the rules and not the “why” behind them… you just pointing out that there’s no particular reason took a HUGE weight off my mind and made me feel way less stupid. I’m not sure if you said that for this reason or not, but that was so helpful to hear… thank you!

[@Jintianchiyu]

🆘That’s why as a business student I still performed very poorly in accounting…. I always kept asking why, if I couldn’t get the answer then I couldn’t move up the next stage😅

[@nats122]

You able to explain accounting like you were born with the knowledge of accounting, you are amazing bro 👏🙌

[@nishtha5062]

I have an interview soon and my brain was completely blank but this was extremely helpful in bringing out everything that was buried deep. Thank you so much :)

[@gsiyoum]

I really appreciated the teaching methodology that was conducted via short and brief short notes. Thanks a lot!

[@arthursassociatesbze2475]

It's very much for the Arts based student too. Thank you so much for your clarity, effort and time. Deeply appreciate coming across your channel. 🌻

[@bladotsky5526]

Share other links too pls

[@JkJKHTK]

Thanks a lot. I have this in grade 10 and I had difficulty understanding this. U helped me.

[@wrestlingyt5319]

Thank you for this video ✨✨

[@SahebAcademy]

☺️👍🏼

[@Naghul3]

Yaa it was very very good And the presentation level just stunned And good English too Loved with your English man ❤️

[@attractive_voice85]

@@SahebAcademy I'm your biggest fan sir 😍😍😍😍😍😍❤️❤️❤️❤️❤️❤️❤️❤️

[@sathwiknaik854]

Roman Reigns will loss the match 😁😁

[@mr.prince6454]

@@SahebAcademy bro is CA is about financial investments Haa

[@wesleypeter8727]

You've shown me that teaching is an art♥️ Unfortunately i didn't have a teacher like you., I might've be a good in accounts 😥♥️ greatest job bro., Thank you soo much for being there and demonstrate all the barriers on accounting i had😍🤗

[@MR.Loki_2.0]

Nobody can teach like you as clearly and easily.

[@firasalmeshari4851]

This guy could explain our existence in a simple way that even a crazy person might understand.

[@hariharen5784]

Hi, just came across this video..I was amazed.No words to describe.Even the slow learners can understand easily... Continue your good work.

[@muneebbacha9244]

i have never ever scene like this type of teaching, and we are more expecting from you like these types of courses.

[@motimekonnen1224]

I'm from science background! And you have explain in an incredible way man! Especially your presentation skill is so skill full!

[@Mikewar1230]

Your handwriting is awesome to follow and look at, you repeat things just enough to let them sink in but not so often that it's annoying. You speak clearly enough that I can watch you on 1.5x speed and you are very to the point but also providing a great wealth of information. Thank you so much for this supremely quality content.

[@SahebAcademy]

I am glad you feel that way😊

[@peace5684]

Love how you explain so much better than tutors online. Glad I come to your channel 👏

[@raniraonivi6787]

Me too glad to came

[@soorajm7557]

Very good classe

[@nilushafernando1310]

Wow, this is amazing, I know nothing about accounting. I have a test tomorrow.... You are saving. Thankyou

[@vaishalisharma8561]

Everything explained so well that anybody could understand it in one go. Great job need some more knowledgeable sessions. You taught us in a best way. I really wants to learn more from you 👏👏

[@mayannsarmiento1029]

Your explanation is amazing! Thank you, I love the analogy, very simple but you can understand right away

[@madhumitapanika]

Hey there !! Thank you so much ....I was really in need of something like this....you made my concept so clear thanks .... your way of teaching is so professional...I literally admire it 👍🏻

[@ce_1]

I am so happy I came across your video just finished 3 day BS training on Friday... All I can say is thank you thank you!! 🙏

[@purnimasonlinecollection4041]

Till now i didnt find this type of video. Ur rocking. Just amazing👌👌

[@gurimannan6288]

Sir when I see ur video I feel much relief ...ur videos are excellent ......😘😘I have no words to explain

[@SahebAcademy]

Thanks 😊👍🏼

[@sivasampath4065]

Recently i have completed my 12th and opt BBALLB course sir. your video really helped me a lot to build a basics of accounting sir as i am totally new to this thank you so much sir!!Thank you.

[@SahebAcademy]

Study well dear😊👍🏼

[@valenteantonioruiz1084]

Love it. Very excellent presentation of the very basic concept of accounting. It's well explained & all tackled from Definition, the Process & the Elements of the Financial Statements. It's a must to know & to understand the Basics of Accounting.

[@jorgeguerra5475]

Thank you for this video. I have a bachelors in Business Administration and my foundation in accounting was horrible. I appreciate what you do.

[@realreen2349]

You really need to reward your lecturers, this is amazing. Please be my personal Accounting tutor 😅😅😅, congratulations from Kenya 🇰🇪👏

[@SahebAcademy]

Thanks dear😊

[@awesomeastronaut9584]

Real reen am from kenya as well!

[@geetslearning7367]

We have spent 2 year of schooling to learn this...but u have made it clear in just 30 min.. Thank u sir for Ur effort of making this video ... 🙏🙏

[@thandashabalala8337]

Mr Saheb i take my hat off you.Thank you so much.I understood everything please keep up the good work!!!

[@pratyush.learning1]

I am a science background student and now i am doing CS , just for to develop my own account skills i was searching for a video and i found this playlist. OMG ... Such a great teaching ❤ hats off 🎉

[@rohinir5059]

Never saw this much clarity in explanation thanks a lot sir i am grateful for this video and learnt a lot thanks a ton sir 😊

[@mohammadasifiqbal7675]

I am a lawman and layman to accounts, but you made it simple and easy to understand

[@saedyusuf3521]

Very smart teacher, you given us for free and I understood more than my teachers. Many thanks dear teacher.

[@theazrael4423]

Your explanations are clear as crystal. Thank you for the upload, best summary of basic accountancy I have ever seen.

[@shaiksufiyan4490]

Thank you soo much,am form science background this vedio is really helpful,you thought us not like a teacher but a very close friend

[@ambatisrikanth1476]

Me2

[@sangavilogampal9310]

Me too

[@kanika_2372]

Hey so u doin bcom after science?

[@panujah5809]

Stunning explanation!! I am currently self-studying for AAT, and your video is a lifesaver!! Many thanks!!!

[@sumipegu2864]

You ,re best account s teacher

[@Jintianchiyu]

Amazing…… So clear and have a quite good explanation logic flow. It is very hard for people to explain terminology in an easy way to beginners, but you made it

[@prateekjaggi8605]

Sir, you’re a saviour! What an explanation! THANK YOU SO MUCH FOR YOUR EFFORTS. Teachers are god, indeed☀️🙏🏻❤️