Interview Question: How to describe the relationship between the 3 financial statements

[@farukhishanov118]

Getting read for my JP Morgan Interview tomorrow and after looking for so long for a quality content, I found your channel! Thank you for amazing explanations! Haven't seen accounting since sophomore year and you are amazing at refreshing knowledge

[@TheFinancialController]

Thanks for the kind words

[@Geek5562]

How did your interview go?

[@pettycashweb]

The answer is very simple but the question at once look very tough and confusing..thanks man for breaking it down..your videos surely give confidence to those who are up for the interview.

[@TheFinancialController]

Thanks

[@dgfcl56ify]

Many thanks, sir!! I've been watching your videos these last few days to prepare for an accounting interview. Took accounting classes to get my Bachelors, but your videos have been a great refresher!

[@funmasti29]

Great ... 👍 good one Bill. But one request: Give us some 2-3 seconds of time or pause to take the clear screen shot of the Board with all the information intact. Love you, as always ❤️❤❤❤❤

[@aymanelzahed8389]

Thanks for sharing. My only input here is that the debt interest servicing the loan doesn't go in the financing activities it's already deducted before reaching the net income so it's considered an operation activity. I know it's confusing but this is how it is treated. Thanks!

[@larahporter8123]

Woooow!!!! Not even my uni professor can explain this so easily!!! Thank you!!! You are amazing!!!!

[@TheFinancialController]

You are so welcome!

[@xolesli16]

Thank you for all the time you put into your videos they have helped me so much! I appreciate you sharing your knowledge.

[@TheFinancialController]

Thank you!

[@danduboyinamuralikrishna1516]

Keep doing this type of videos for accounting aspirants,Really it's Helps me a lot for recollecting and learn new points of accounting, thank you very much for this information

[@samer4079]

This is one of the best summary that explains most of it. Very good thanks

[@ReneeReneeReneeRose]

Wow thank you so much!!!! I’m a visual person and I get it 🙌🏾

[@TheFinancialController]

Thanks

[@roldgold5972]

Brother Explained this shit better than 4 years of business school - God bless🙏

[@TheFinancialController]

Thank you!

[@Dan474834]

This music is from the game Tropico. I knew I heard it before somewhere.

[@soniaortiz5403]

Thank you! As a financial analyst, this question had definitely come up for me.

[@TheFinancialController]

Oh thanks for letting me know

[@BarcaAlmighty]

Amazing how easily you explained it. Thanks!

[@mustacheo63]

commenting for support!

[@chandnig9982]

As per my understanding Non cash expenses are added to net income in cash flow statement as it is debited in the P/L from which the net income is derived. Please correct me if I am wrong.

[@michaelw2108]

I like your videos, I earned my accounting degree in Ca, and I took a job because I didn’t get hired right away. Covid hit and n ow I’m trying to review all my notes to apply and try again

[@tw2800]

Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!

[@alexsonga4742]

Very insightful Bill. Could please make a tutorial of creating the financial model in excel for the 3 statements too.God bless you for sharing this awesome knowledge....

[@TheFinancialController]

That topic is actually on bucket list!

[@melissakhlif]

You give great explanations. Always good to brush up!

[@kirstiegreen6557]

This is amazing!!! Group hug 🤗 on 💯. Thank you!!!

[@nuramirahsharifuddin6009]

Many thanks! Great explanation

[@TheFinancialController]

Glad you enjoyed it!

[@lucatintor4896]

You always go straits to the points, super. Just a little suggestion next time maybe you can use markers with different colors in order to empower the visualization of the priceless tips that you discussed on the video.

[@TheFinancialController]

Good idea!

[@lucatintor4896]

@@TheFinancialController Bill I am really finding difficult getting sources where derivatives are explained in accounting side and not in their financial aspects. I meant how to record for example a swap or a option in the books. Or hedge accounting. If you have any video where you face them please post me the links. Super thanks for everything you are good man.

[@TheFinancialController]

Interesting idea for a video. I will do it soon

[@lucatintor4896]

@@TheFinancialController Dear Bill, if you really want to do something that others do not do or do it badly, I would say to make a series of videos on the accounting of derivatives putting mainly focus on the entries. If you can do it by defining under the two main accounting standards i.e USGAAP and IFRS even better. You would see that the views globally will skyrocket. Super, I will be waiting for them with impatience. Strength and Honor.

[@ggreddy3568]

Thank you so much …I loved explanation…though I know everything now I know exactly how things happen

[@awarenesscreature7228]

very nicely explained

[@anvargurban]

One of the best video, thanks for sharing 👍

[@lisakibler458]

This is excellent. So well presented. Thank you!!

[@TheFinancialController]

Glad it was helpful!

[@ulambaulamba]

Man these videos are so helpful, thank you ❤️

[@TheFinancialController]

Happy to hear that!

[@kimoneycampbell7842]

I love this..much appreciation..

[@theekshanakularathne]

Thank you sir...

[@ramajaya811]

Halo, thank you so much. Very effective and very clear explanation

[@TheFinancialController]

Thanks Rama

[@malektoumi5931]

You are amazing thanks for sharing your knowledge keep it up

[@TheFinancialController]

Thanks brother

[@sowmyam7906]

Dear Bill, Do we add or subtract the depreciation and ammortisation amounts from/to the net income in the cash flow statement pls? Thanks

[@TheFinancialController]

Add it back to NI since depr is a non cash item

[@sowmyam7906]

@@TheFinancialController but then, in the video you say- depreciation and ammortisation is subtracted from the net income. pls correct me if I am hearing wrong (4.45 Min onwards)

[@sameepkaranjkar2263]

Thanks for clarification.Yeah ,it should be added to net income. I was also confused as in the video it was mentioned subtract.

[@Movienetwork3251]

Thank you sir for explaining

[@malamofficial7558]

Thank you for sharing ❤❤❤

[@dforyou-informativetipstra9012]

My CFO😍

[@syawarabbas]

Thanks ❤

[@mojtabarasuli3905]

Well explained thanks!

[@Waytoislam977]

Thank you soon much Sir

[@getzep]

Aren't the depreciation and ammortization added back in the Cash Flow Statement ? You mentioned deducted, hence !

[@arelisjavier8716]

Excellent information. Thank you,

[@TheFinancialController]

Hey thanks arelis

[@a.bismail6492]

You have a new subscriber!

[@abdelhadiredouane4973]

Make much videos about interview. Accounting. Finance please my teacher I'm watching you from Algeria 🇩🇿

[@TheFinancialController]

I will :)

[@energiaspositivasconangyor5907]

Gracias!!!!

[@rohanarshad3728]

isn't depression and amortization supposed to be added back to cash flow?

[@MarioALopez-yn1sn]

Love this video man

[@TheFinancialController]

Thanks Mario!

[@RA-kd3ne]

I wish you could explain cash flow in a better way that how how AR impacts on CF

[@meytithveasna339]

helpful and clear explanation

[@TheFinancialController]

Thanks Mey

[@ledique6945]

U just got a sub man! Thank you!

[@izharmalik3949]

Thanks bro Make more videos about interview questions

[@TheFinancialController]

Will do! 🙏

[@deetee8051]

by "subtract depr" from net income, did you mean "add back depr"?

[@jessiesi1412]

If tb is not balanced, where should we check? Are there any easier way to test or some parts earlier to get errors? In a real business environment, there are many transactions each month. It is not easy to list out all the transactions and summarize them.

[@TheFinancialController]

If you use an accounting software such as quickbooks or NetSuite, the system won’t allow you to have errors because every journal entry must balance or the system won’t accept it

[@jessiesi1412]

@@TheFinancialController that make sense! We used Epicor and my coworker normally exported it from the system. Sometime, it is not balanced and he said it is due to retain earning. Just try to see if BS is not balanced, what element should we focus on. I agreed with you opinion, most companies used software, the system won’t allow you to post if it is unbalanced. Thanks for your reply. I like your videos a lot. Keep waiting them. Please make more. These videos are very useful materials. Thanks for spending time making them. ; )

[@kanagasrinivasan3793]

Please upload more helpful videos like this..

[@TheFinancialController]

Will do Kanaga

[@deepikasingh1753]

Thank you Sir 🙏

[@TheFinancialController]

Thanks for watching

[@abhishekaggarwal155]

Wonderful!

[@TheFinancialController]

Thank you!

[@sandlovedi6886]

Thank you very much!

[@TheFinancialController]

Glad it’s helpful

[@hackit9578]

Thank you for another awesome video with valuable contents.

[@TheFinancialController]

Happy that you liked it

[@HojeAprend1]

Very good, best video, best teacher. Thank you so much.

[@ericlin3392]

Love the content！The background music is a little too loud.

[@TheFinancialController]

Agreed 🤣

[@karthikanair2722]

Hey great thanks for this one!!

[@TheFinancialController]

Thanks Karthika!

[@peterkhanbanypieny9179]

Please order my certificate from corporate finance institution as a diploma because I completed two years now thanks.

[@Movienetwork3251]

Sir can I pursue my career in accounting is it good for future

[@TheFinancialController]

Yes

[@riyanshikareddychalamala9788]

hello henna,are there opportunities in feild of accounting to work in foreign countries

[@TheFinancialController]

It’s always possible and now more than ever due to pandemic. Search on google for “remote accounting work” and will find many freelance gigs

[@kenqinzhong9990]

I thought depreciation and amortization is not in the statement of cash flow.

[@TheFinancialController]

They are because you have to adjust for non-cash expenses

[@kenqinzhong9990]

Thank you for taking your time to explain. I appreciate that.

[@ramkumarsankaranarayanan7399]

thankyu sir

[@TheFinancialController]

No problem!

[@ramkumarsankaranarayanan7399]

The Financial Controller sir I also wanna become FC .

[@oooooo3231]

the music is distracting bro.

[@RenzoEisert]

Very helpful information. However the background music is very distracting I had to stop midway and find a different and more professional video.

[@jinlishen6972]

Thank you, you are amazing !!!

[@TheFinancialController]

Thank you!

[@misskimbeautifulgirl8485]

I love you

[@mauricioalejandro74]

The salsa music in the background 😆 💀

[@TheFinancialController]

It was a random choice of music. But the crazy thing is...I would do it again.

[@mauricioalejandro74]

@@TheFinancialController soothing music nonetheless

[@new_filler]

the first time i got this question it fucked me up

[@SamehFahiim]

Plesae please please we dont need music in the video

[@VishalPatel-ns3py]

Why irritating back ground music?

[@TheFinancialController]

Good question. I stopped using music in most videos as I realized it adds no value

[@lx1714]

Visual presentation is not clear at all dude

[@KP-ox5yo]

What is this, a salsa lesson? Skip the music.

[@TheFinancialController]

True, I will make a couple of dance moves next time 😂