How to prepare financial statements | Financial Statement Basics | Income Statement | Balance Sheet

This video from Commerce Specialist explains how to prepare basic financial statements. Detailed explanation is given regarding How to prepare Income Statement, How to prepare Balance Sheet, what is an income statement, what is a balance sheet, how to prepare statement of financial position, how to prepare statement of comprehensive income.
This video also explains the need for preparing financial statements and the format for preparing income statement and balance sheet.
This video is relevant for students of CMA, ACCA , CA, CFA, CIA, CPA, CIMA, B.Com, BBA, MBA, O and A levels.
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#financialstatements #incomestatement #balancesheet

[@Hameretube19]

Thank you from 🇪🇹Ethiopia

[@OscarKayula]

Simple but very detailed, well done and thanks to you!

[@chilufyatolopa9030]

Your videos are most of the times appropriate, easy to understand and very helpful. A kind request though has to do with principles of audit and that if it is possible you reduce on the size as in the MBs for your videos while not compromising the quality. Thank you very much for taking my request into consideration

[@CommerceSpecialist]

Suggest how to do it as im not much of a tech person

[@amokoemmanuel3761]

Thank you my brother. Greetings from South Sudan

[@CommerceSpecialist]

Ur welcome my bro. 🙏👍

[@ayubadauda3094]

thank you Sir

[@CommerceSpecialist]

👍🙏

[@Hameretube19]

Please include vat financial statement

[@CommerceSpecialist]

@@Hameretube19 sure dear👍🙏

[@himalkarathnayake693]

Excellent teacher thank you from Sri Lanka

[@CommerceSpecialist]

Ur welcome my dear😊👍🙏

[@arnoldmartin1666]

Thank you Sir👍🏽

[@CommerceSpecialist]

🙏

[@ahmedwaheed5368]

Please,show GST 6 percent deductions,

[@danladiojito9741]

Well done sir

[@CommerceSpecialist]

Thx dear

[@tariqfaheempakistan5965]

Hi Question Equity =total asset - total liabilities Waiting your response Thanks

[@CommerceSpecialist]

Yes

[@isaaccheza]

where is the link for financial statements for partnerships and corporates@@CommerceSpecialist

[@DerickSaanyirsah]

I actually enjoyed the lecture. I would like to join if you have a WhatsApp platform please. If you don't, can you make provisions for that please?. My humble request. The lecture was actually very transparent

[@CommerceSpecialist]

Coming soon dear, thanks.