Sir you are a blessing🙌🏽 You did what my lecturer couldn’t explain in a three hour class in less than 9 mins😌
@Accountinguniv2 жыл бұрын
Happy to Help!
@cjvswish10412 жыл бұрын
Can’t wait to sit and finally do my Assignment that’s due soon. I been stressing cause i didn’t know how to get started. You’re a blessing🙏🏾
@annmaryabraham73224 жыл бұрын
this was super helpful! thanks, (3:01 )btw gross profit is called gross profit since it originates from the german word "gross" which means "big" so it's like "big profit"
@Accountinguniv4 жыл бұрын
I didn’t know the origin! Thanks for sharing :)
@minvs Жыл бұрын
Similar thing in french! Big is Gros [masc] or Grosse [fem]
@saddestdayever12763 жыл бұрын
Hi! I am currently enrolled in Managerial Accounting but we are doing a review for Financial Accounting and we have a test tonight on the income statement! Video definitely helped so thank you!
@MJay3060 Жыл бұрын
What is the difference between Managerial Accounting and Financial Accounting?
@ondinamendoza90223 жыл бұрын
Do you have a template of all the statements all linked together? Income, balance and cash flow. Would be so appreciative!
@judyl.78112 жыл бұрын
1:34 sales revenue is the first thing on income statement. 2:09 COGS if you're a manufacturing firm. lets assume it's a manufacturing firm. The difference is the gross profit.
@MJay3060 Жыл бұрын
What would it be instead if it were not a manufacturing firm?
@londababy22392 жыл бұрын
It’s a magnificent video with high quality, but recommendations on KZbin made me have knowledge of stray and the legit statements they make too and that’s how I got my tax statements
@jayrobert20162 жыл бұрын
Wow that’s nice, how can I reach stray cause I’d like to work on some
@EmmanuelOnitheoneandoni Жыл бұрын
Thank you, Sir. This is the next step now that I have an rough idea how to read an income statement
@bensonwu123811 ай бұрын
I am gonna have an accounting test tomorrow, I hope this video can help me.
@cheez_its_are_legendary Жыл бұрын
Thanks for this video, I need this for my 6th grade business assignment and i haven’t been able to figure out how to do this part 😭
@jeaniegem700226 күн бұрын
Hello can you also include in your income statement including capitals gains and income tax lossess carried forward
@MohamedElzorry8 ай бұрын
Thank you broo You have ability to assist the information very easily ❤
@vipin_rahul2 ай бұрын
Very nice. Thanks for the tutorial.
@fel48342 жыл бұрын
Thanks for explaining so well! I was also looking for an explanation for how to prepare a statement of changes in equity but couldn't find anything on your channel :( Do you know if you will be posting a video covering that topic?
@Accountinguniv2 жыл бұрын
I will put it on the list, thank you! :)
@Ntombi_Majara2 жыл бұрын
Thank you so much 🥰
@WrightsOrganic2 жыл бұрын
That was perfect. Now if this video didn’t exist, how would I find out this information and how to format this on my own? Do you have any good recommendations on books or any information I can read. I read one accounting book but it didn’t have anything about formatting the three statements. Thanks!
@raguljayakumar11774 жыл бұрын
It's amazing experience though iam an accountant feeling a free time to watch this series which has a valuable thing to learn... Thankssss
@rs_freeman14042 ай бұрын
thanks mate
@MrKhan55680 Жыл бұрын
Your video is very informative really appreciated work
@accountingforbeginners92102 жыл бұрын
Income statement simplify,good,well done
@jialinwang57192 жыл бұрын
what about the provision for doubtful debts belonging which item? operating expense? Also, what about the other income after sales revenue? Which item it is should belonging?
@Accountinguniv2 жыл бұрын
Hi Jialin. Thanks for commenting. This video is lower level accounting best for beginners. For more advanced concepts, I will make a longer more in depth income statement video. Thank you for the suggestion!
@beulahwilliams88852 жыл бұрын
This is very useful but I want a full copy including explanation
@user-lk4wn9dc6r5 ай бұрын
Hey nice work brooooo. Keep it up we want more content from you
@mvuyisiapril12083 жыл бұрын
Wow this is very simple. Thanks alot
@droctopisneeze56212 жыл бұрын
Please do a cashflow statement :( This video helped me a lot, thank you
@Accountinguniv2 жыл бұрын
You’re welcome! Check this one out here: How to Make a Cash Flow Statement (Indirect Method) kzbin.info/www/bejne/Z5q3dZ5ug5moZ5o
@fairyjennlaureta871710 ай бұрын
Thank you so much Godbless you 😊
@Amandafanai19972 жыл бұрын
How often income statement are prepared . quarterly or annually
@Accountinguniv2 жыл бұрын
Usually annually
@NestaAstern2 жыл бұрын
Thank you.
@Accountinguniv2 жыл бұрын
You’re Welcome! Thanks for watching 😃
@bostonterrier99 Жыл бұрын
Do you have a video of how to put together a trial balance sheet? Is it necessary to create one of these if you have an accounting software that keeps track of everything for you?
@stephhodge21822 жыл бұрын
would be nice if we would see the adjusted trial balance while you're doing the entries on the income statement.
@saifkhalifa41794 ай бұрын
DUDE THANK YOU SO MUCCHHHHHHHHH!!!!
@user-od9ge4ht1s5 ай бұрын
Very helpful big up bro❤❤
@michellelanoy34702 жыл бұрын
Sir why the Operating expenses would negative? Can you explained it?
@Accountinguniv2 жыл бұрын
It is very rare if operating expenses are negative. The only way I see that happening is if you had a credit that caused it to be negative. Similar to having a negative balance on a credit card.
@ksamix934 Жыл бұрын
could we add the drawing account as part of expences?
@vinas866 Жыл бұрын
My exams are getting easier now
@shaneladkins2227 Жыл бұрын
Omg very helpful ❤Thank you
@revengegamingjosss84292 жыл бұрын
THANKS. SO MUCH SIR ☺️☺️☺️
@anxission4593 Жыл бұрын
How did you get income tax expense. Arent the calcularions off?
@shaniacollins21123 жыл бұрын
What is sales and cogs is not included in the trial balance how do you begin then?
@shaniacollins21123 жыл бұрын
If*
@kunzangwangyel66964 жыл бұрын
helpful.. thank you so much
@beatricejoseph1674 жыл бұрын
Dis lesson its fyn more
@dmitrikozak78373 жыл бұрын
I don't know why this guy is at the top of the search results, not as helpful as many other ones. Wouldn't watch again.
@marjosephpimentel22952 жыл бұрын
YOU'RE THE BEST DAMN!!!
@ShubhamGupta-ki4kc3 жыл бұрын
Hello sir. May I know why we haven't included depreciation in the calculation?
@BCPodcast81 Жыл бұрын
Yes, I also want to know. It got me confused.
@jessicababaran33673 жыл бұрын
wow, thank you so much for this.
@CallieHope174 жыл бұрын
What should I do if sales revenue and cost of goods sold is not given in the trial balance?
@Accountinguniv4 жыл бұрын
Just make sure your debuts and credits balance at the end :)
@patricktan983 жыл бұрын
What about bad debts? Are they classified under operating expenses as well?
@user-lp2bb6kx4k Жыл бұрын
Do you subtract everything to get a total?
@MG-ui8jk4 жыл бұрын
my case here is I am confusing how to divided net profit to get stock dividend and retained earning
@bostonpizzaa81562 жыл бұрын
KZbin is teaching me more than uni
@sweetnpettite2 жыл бұрын
How do I find out tax rate?
@Jem97982 жыл бұрын
Just thought I’d share after hearing you say gross don’t mean like disgusting…in Spanish we say how much dirty money you made lol…and how much clean money …it doesn’t sound right in English but in Spanish it sounds right…I never thought of it until now that you said disgusting…lol.
@jameso36973 жыл бұрын
how did you find your tax rate??! pls help
@deepi_kamal4 жыл бұрын
hi sir, I wanted to ask if the Tax % is not given then what we can do?
@Accountinguniv4 жыл бұрын
You can assume it’s 0
@deepi_kamal4 жыл бұрын
@@Accountinguniv thank you sir
@t0ni4404 жыл бұрын
@@Accountinguniv so we don't calculate the income tax expense?
@t0ni4404 жыл бұрын
@@Accountinguniv we just leave it to the income before income taxes?
@Accountinguniv4 жыл бұрын
Depends on if the tax % is given. If it is, you would calculate income tax expense. If it isn’t, just calculate income before taxes.
@shawannajones4304 жыл бұрын
why did we add a negative to the dollar amounts
@Accountinguniv3 жыл бұрын
To show that you are deducting them on the income statement :)
@brookebauer19014 жыл бұрын
I thought utilities are part of manufacturing overhead. Are they not?
@uasoranunuhe88953 жыл бұрын
I can’t figure out my assignment professor please help
@nebell98303 жыл бұрын
thanks. very helpful
@shortcakeliccuptea26443 жыл бұрын
what google docs add on was he using?
@FoX84tac0223 жыл бұрын
@1:45 - proceeds to use Google Sheets xD
@tabithamcclarity66423 жыл бұрын
HI can I purchase these spreadsheets?
@Accountinguniv3 жыл бұрын
please email me :) nathanthomas.tutor@gmail.com
@notthefamousguy92353 жыл бұрын
Is that Oliver Queen??
@Accountinguniv3 жыл бұрын
nailed it
@shakirahinds67372 жыл бұрын
What if you don't get the cost of goods sold
@noels.83453 жыл бұрын
Is interest expense the same as interest paid?
@Accountinguniv3 жыл бұрын
Not always. Usually things like amortization will be the gap between interest paid and interest expense
@hamzafaheem4863 жыл бұрын
cant i just write cost of purchases
@brandieclack38514 жыл бұрын
Very helpful
@billyacademy3 жыл бұрын
i love you..
@Accountinguniv4 жыл бұрын
Revenues - Expenses = ??????? Comment Below!
@aungkhantbwar37514 жыл бұрын
Profit
@tyoma68634 жыл бұрын
Net Income
@boomer91164 жыл бұрын
Net income
@ninjapirate1232 жыл бұрын
There is too much for me to memorize in accounting at school
@Zynate4 жыл бұрын
Yeyeyeye
@Accountinguniv4 жыл бұрын
Ya! bit.ly/secret-video-vault-free
@beatricejoseph1674 жыл бұрын
Dis tr is gudo mehn sharap to him mehn
@Ploof-jp6ki4 ай бұрын
Very basic income statement would only be useful for High School level.
@juliendilauro5900 Жыл бұрын
keyboard broke yet?
@Accountinguniv Жыл бұрын
On my 5th one actually
@punchienella22262 жыл бұрын
Still made no sense
@finmotolinia96304 жыл бұрын
Thumbs down only because of the vague descriptions you give. This number to this number. This minus that. Using correct terms would makes this video so much more professional