How to Do a Balance Sheet | Accounting Fundamentals (Part 2)

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Accounting fundamentals course that guides you through the basics of accounting process. Learn the components and layout of the three financial statements - balance sheet, income statement, and cash flow statement. Understand various financial statement terms such as assets, liabilities, accounts receivable, accounts payable, PP&E, capital expenditure, and more.
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[@yilinmichel]

Excellent video. Thank you. Congratulations! 😊

[@alyd449]

The clearest explanation of the balance sheet I've ever seen! Thanks a lot!

[@SolidHelion]

really clear and crisp explanation. keep up the good work!

[@kristellannperez1417]

1:27

[@sanketmarutiraosonawane9519]

A simplified version...easy to understand. Thank you for posting.

[@sanketmarutiraosonawane9519]

The concept of accounts payable and receivable are nicely explained.

[@user-sg1qu8io6v]

Perfect, thanks!

[@poohoff]

Very useful, as usual!

[@asiimwejohnson7388]

Thank you @ CFI I enjoyed and learned a lot from this series

[@ronaldosa23]

I liked so much of these videos

[@ripper9489]

Many thanks from Russia! Very clear and useful!

[@jpvollert]

Perfectly explained. Thank you for the valuable content. But for the credit card example for Accounts Receivable, the company selling the goods receives the cash immediately from the bank. It is the bank that does not get the money immediately and lends it to the payer/customer.

[@taraknathbera9688]

It's good thanks for it

[@education-qh8sv]

great teacher

[@judyl.7811]

1:00 the balance sheet: asset: own, liability: owe, equity: worth. income statement/ P&L/ operation. 1:20 cash flow statement. 2:05 balance sheet: asset:equipment and something that used to create goods or services. 2:25 current assets: used within 1 year. such as cash, account receivable, inventory. 2:40 non current-asset: property, plant and equipment, technology, patents, trademarks. 2:50 current liabilities: due in 1 year; non-current liabilities: due in more than 1 year. 4:00 if a company purchase sth in credit, then this is account payable. ... typically in 90 or 30 days. 4:45 we arrive on the total liabilities line on the balance sheet. 5:20 either the company earn profit or records losses. retained earnings: can remain on balance sheet or be paid out as dividends. 6:15 it's important to flag that ... 6:45 double entry accounting. 9:30 took out a 4 year bank loan of 50. 12:35 revenue can also be referred to sales or turnover. 16:10 buying and selling on credit. 16:45 a reduction of 60, when the inventory is subsequently sold. 17:25 the balance sheet is continuing to balance.

[@ridvanrideon]

Nice job.

[@lennartrosenthal8745]

At 7:40 : should the total assets and total liabilities & SE not still be 100? Of course, the cash goes down if you buy equipment with the cash you got from the loan but the value is just transferred not extinguished. So the total value of both balance sheet sides should still be 100 and not 0, or am I doing a stupid mistake?

[@shivanmohyaddin]

Thank you a bunch, so the retained earning is simply deducted whenever one of these accounts are recorded ( Salaries, Expenses, Dividends) .. well to be more precise, these also affect the retained earnings ( Taxes, Interests paid, Dividends )

[@CFI_Official]

Thanks for your feedback! :) - Maria

[@debrajackson9264]

Thank you

[@CFI_Official]

You're welcome! - Maria

[@pluspect1836]

clear vid; easily understood by a 13yr old

[@user-mn8jr1fr9c]

بس ء