The ACCOUNTING EQUATION For BEGINNERS

[@laniloveaj]

Man... can you teach professor's how to teach?

[@AyurrRBX]

dude I agree, I don't understand anything at school.

[@laniloveaj]

@@AyurrRBX he helped me get a B on my 1st test.

[@yueyue4793]

no doubt that

[@tydonnelly7444]

Amen!! Preach

[@majestinostario1341]

Actually, he's amazing, am wondering if he's doing personal coaching

[@emmalani6701]

I have a bachelor's degree in accounting and this 5 minute video was more helpful than all of my accounting courses....

[@AccountingStuff]

Hey Emma, glad to hear the video helped! Sometimes it's useful to revisit the basics

[@casdessers9105]

Same story here, even a masters in finance and risk, but this just could've made things way easier back in the days

[@salty_kenz5080]

do your rly have a bachelor's degree thooo hmmmm?

[@music_tvuz7050]

@Lyrtha Kalas welcome to the whole world education system

[@TheLysila]

YES!

[@unknown-np5fm]

You're a bloody legend for splitting the video up into titled sections. First time I've ever seen that on KZbin to be honest, and it's definitely one of those things you didn't know you wanted until you had it. Great video. You should probably allow ads on your videos as soon as you can cause this is good content and you should be paid for it.

[@AccountingStuff]

Thanks Jonah!!

[@jayrajmali4030]

There are many videos for accountancy but this video was best

[@AccountingStuff]

Cheers buddy 🙂

[@syahiranajihaibrahim2190]

agreeeeee>

[@irl8796]

Anyone getting into accounting now, you’ll learn more from this 5 minute video that makes sense, than about 8 hours of your first classes in accounting

[@zechrojas2202]

Yes!

[@steamysteams1537]

bro just mock my indian lecture in single comment

[@madebytashalarae]

That is definitely me!

[@CENZ.]

a year ago when i just started my college i did not pay attention to the basics and it was really troubling me now thanks fro the help

[@maxland3481]

Man, you're genius. I'm a high school financial accounting teacher and your video will help me a lot when explaining accounting equation to the first year students as I'll be teaching it today.

[@gideonmendoza2067]

Wish you The best maam

[@JackDaniels-ee1fo]

You are teaching accounting in High School? Man, must be a good high school. I usually refer to high school as only really useful for basic stuff like math and history, add geography if they can teach that well, but to be teaching something as career practical as accounting is something else, glad some schools are getting better at recognizing useful material

[@GetRight249]

That was one of the best explanations I've heard for any topic. Great job

[@AccountingStuff]

Thanks, I’m glad you found it useful

[@milesaustin1120]

James I wanted to say thank you. I just passed my MBAs accounting exam and I don't think I would have done anywhere near as well without your videos, many many thanks.

[@AccountingStuff]

Congrats Miles, well done!!!

[@ibbybash1558]

Hello Miles. May i please ask, as i possibly want to pursue a career in accounting. Is it hard and boring?

[@stffaluffagus]

Accounting can be challenging at times but a rewarding career. You do mostly sit at a desk all day so there’s that. If you are highly interested I would suggest a shadow or internship to test out the waters before you decide completely.

[@ibbybash1558]

@@stffaluffagus Thank you so much!

[@wilpse]

My Accounting teacher played us one of his videos and she said that he's attractive😭

[@MhlavaSambo]

😭😩✊😂

[@PhilipEapen]

You succeeded in teaching me my first lesson in accounting. I've had so many teachers over the years who tried and failed. Thank you.

[@AccountingStuff]

It is a pleasure!

[@kellymckay544]

This is absolutely wonderful!!! Better explanations than 3 semesters of accounting coursework and a year and a half of bookkeeping work that I've done. Thank you, please keep making more of these.

[@salwaabusin2632]

are we gonna ignore the fact that you never blinked lmao.

[@AccountingStuff]

I never blink.

[@ultralegendarybeast101]

@@AccountingStuff I have seen it in other videos!

[@easymoneyhooper2974]

Learnt more in a week of watching your videos than a semester of accounting at degree level, thank you so much bro your a life saviour!

[@gailspitzer4975]

Great video! I took accounting 30 years ago and am now re-freshing my accounting in hopes of opening a business in my retirement years. I love your simple, clear explanations!

[@AccountingStuff]

Cheers Gail! We all have to return to the basics from time to time. Have a happy new year!

[@Xerclipse]

Aren’t you gonna pay back your friend? You still need to pop another batch giving you 26 in assets, with 16 in cash. Then after paying that loan (assuming no interest), you would now have 6 in cash left.

[@koteswarris8949]

You are singlehandedly saving my career lol. I watched this in my 11th grade 5 years ago, I'm taking my CMA exams (equivalent to CFA kind of in India) and here I am watching your videos again. Thank you so much!!

[@ntokozomduna637]

Dude! Wish I had your videos in my first year studying accounting. This is a gold mine. I'm sharing it with friends.

[@AccountingStuff]

Cheers mate, thanks for sharing!

[@bestintaste4708]

This is very first channel i have subscribed for accounting learning as I found it good. Just wanted to make a point here.if you could slow down your speed , will help you understand better. Thanks . You are doing good. Keep it up

[@AccountingStuff]

Hey, thanks for the sub! I appreciate the feedback and will bear it in mind for future videos. I the meantime... have you tried slowing the speed of the KZbin video in the settings, maybe that will help?

[@bestintaste4708]

Thanks for considering my point. I m afraid if I know it.

[@ArdoBlueMoon]

I get that it normally balances. But how does tax and interest on loans (liabilities) increase assets? Also let's say some equipment gets stolen or damaged, your liabilities or equity don't go down do they?

[@ductator4479]

you have saved me 2 lectures worth of learning in literally 5min, lad

[@AccountingStuff]

Hope it's making sense :)

[@rambot670]

Thank you so much ! My course directly told me that the sale of merchandise of $100 : 1) Increases cash by $100 2) Increases Retained Earnings by $100 I was unable to reconcile this until I watched your video ! Also, Stuff that business owns = Stuff that business Owes.... so powerful yet simple !!

[@juliakkristinsson]

This was so helpful, thank you! I finally understand

[@minaelisa]

Hi James, thank you for making this accounting subject so fun and alive. really enjoy your video a lot!!! Keep on watching and learning from your awesome videos

[@tmillion]

nice job!! I liked the visuals & graphics. good clear & simple explanation

[@AccountingStuff]

Thanks Tina! Those graphics take a long time to make so I'm glad you liked them

[@WildcardASMR]

For easy reference: 0.75x playback speed Thank me later ;)

[@kellyhawthorne3629]

Thank you, thank you, thank you! You just made everything "click" for me. 😄

[@AccountingStuff]

Cheers Kelly, great to hear it's making sense

[@aiman7282]

I'm gonna take business course so I have to take this as well . Wish me luck! But from this video I don't understand how much did you sell the popcorn? What does 60% markup cost means? Where do you find that

[@zensukai]

Boy oh boy -- I came across your channel while looking for resources for Bookkeeping, as I am changing gears from IT to bookkeeping/accounting. Your content and presentation is brilliant and I have learned a ton thus far -- more binge watching this weekend. Many thanks for the great work!!! =)

[@Animox26]

IT from Book-keeping as in in CBSE, like you switched the elective?

[@zensukai]

@@Animox26 No, I went from working in the IT (Information and Technology) field to a bookkeeping career.

[@Animox26]

@@zensukai Okay, thanks a lot!.

[@omiddabir]

Love the channel and more energy please would make it outstanding! The content is brilliant and spot on. However, you sound apathetic and monotonous (basically, like an accountant). However, people who would enjoy your channel, are not from accounting (like me).

[@AccountingStuff]

Hey Omid, cheers for your feedback! This was actually the first video I ever made so I wasn't particularly used to being on camera.

[@deepama2342]

Hey 😁 I'm done with my exam yesterday....it went well!!! Thx for those videos 😍🤗🙏

[@AccountingStuff]

Well done, I'm happy it went well! 👍

[@Sadboy80629]

this video took too long . could have been taught in less than 30 seconds. no I'm just kidding it's good

[@CristianSanchez-fs6vk]

I got confused on the 60% mark up on cost part, would someone be able to clarify it for me?

[@AccountingStuff]

Apologies, I should have been clearer... A Mark Up on Cost is the difference between the Selling Price and the Cost of Goods expressed as a percentage of the cost. So if the Goods costed $5 then then a 60% mark up would mean $3 of profit (60% x $5) which means the total selling price is $8

[@ibbybash1558]

Sir, thank you for the video. It's amazing!! So simple. But can you please answer this question for me: **Is Accounting very difficult, boring, dull and long winded to learn?**

[@koleni3887]

Hi James, thank you for always uploading such useful stuff I am completely lost at school. You helped me a lot for my previous test, thanks again.. We are now on the topic « TAX ACCOUNTING » could you do something on that too pleeaaaase 🥺

[@AccountingStuff]

Thanks for your suggestion!

[@goks4893]

Extremely basic question: Say in the first year we take a $10 loan. Now, cash is $10 and loan payable is $10. Assume the business was non operational (no sales) for 1 year. The loan taken was not used as well. In this case, how is the interest for this loan treated in the equation in the second year? Cash in hand would be $10, and loan payable may be $11 for example, with $1 as the interest incurred

[@jobkhanyile1451]

The best teacher I have ever seen on KZbin thus far hands down

[@AccountingStuff]

Thanks for your kind words!

[@luluandloft8874]

I am a new small business owner selling home and living products on Shopee. I need to prepare Statement of Accounts and Balance Sheet. I am an Accounting dummy...and know pretty much nothing on how to do them. Would you please create videos on how to prepare Statement of Accoungs and Balance Sheet for my business?

[@badabing5163]

I just found your channel and these videos are just soo concisee and helpful.. I feel like this channel is underrated.. thanks for the video!

[@AccountingStuff]

Thanks, I'm glad you're enjoying the videos :)

[@Michiganian8]

I was looking for a channel like this. Thanks for the helpful info.😁👍🏽

[@AccountingStuff]

No worries, hope it helps!

[@afrah4594]

Great!!! so helpful I just started ACCA after my Bachelor which is waaaay different than my major,, this really helped me a lot perfect series for a beginner like me

[@AccountingStuff]

That's great! I did the ACA which is similar to the ACCA so can feel your pain! Happy to hear that you find these useful. Best of luck with the course!

[@farahabdullah4838]

@@AccountingStuff I would like to request for you to share something like 5 reasons abt ACA and related to that. Extremely curious to know. It just a thought that it will help many people out there .

[@AccountingStuff]

@@farahabdullah4838 Thanks for your request!

[@markpattison6031]

James, what would the equation look like if you started with your 5 dollars in the bank (owners equity) and you spent it on rates or electricity? How do you make the equation balance at that point, given you have used your cash on an expense?

[@ashleyr4702]

The best accounting video for beginners I've seen so far. I am learning accounting with no experience and this video definitely helped me understand the most basic things. can't wait to see the rest of your videos of this Accounting Basics video Series. keep it up!

[@koteswarris8479]

Thank you so much ! 2 years ago I watched this exact same video before my exams, and here I am again watching it for revision. Thank you !!!

[@AccountingStuff]

Best of luck!!!

[@jamiecampbell690]

What a great start. With the number of books I have bought on Accounting I could open a small library. At last, some clarity from you right from the outset. Thank you.

[@AccountingStuff]

Cheers Jamie, glad the video helped you out! Would you recommend any of those books? I am looking for new ones to review

[@jamiecampbell690]

Accounting Stuff of course. Do you want me to reply here or direct where I can send you screenshots.? Jamie

[@adrianseven9605]

Jesus Christ, you are fucking awesome, I lost last of my hope to pass exam and here comes you!

[@alina2674]

What is the cost for popcorn and where does it come from ? 🤷🏼‍♀️

[@bimogushatriastanto]

The popcorn was his own equity, he takes it by himself to the company (no Cost/Liability). U might notice he credited the Owner Equity when he added the Popcorn as Inventory.

[@thomasgolden5499]

James - you are EPIC! Thanks so much for creating these easy to follow (and entertaining!) videos on what can be a confusing subject! I'm starting my own practice (Mediation/Conflict Resolution/ Facilitation) and returning to bookkeeping/accounting after an absence of 20+ years. You've actually made it enjoyable! Every good wish in your own career.

[@AccountingStuff]

Thanks Thomas and best of luck with your new practice!

[@jayrajmali4030]

It was amazing. Plz explain depreciation,provisions and Reserves

[@AccountingStuff]

Thanks for your suggestion! A few people have been asking for the same topics so I will make sure to cover them in the future 👍

[@njugunacharo8873]

Thanks a lot James. Your videos are so helpful. Was wondering if you got videos for accounting for partnerships and non-profit making organisations?

[@AccountingStuff]

Hey Njuguna, I'm afraid I don't at the moment. But thanks for suggesting them to me!

[@guxun334]

how on earth someone dislike this vid!😞

[@TheFinancialController]

Congrats 🎉 on your 100k. I have been a long time fan/sub.

[@AccountingStuff]

Thanks mate!

[@venstarlord801]

Jus like a re breather of my high school Accounts

[@AccountingStuff]

I hope it helped you refresh your memory

[@lydiafaah2887]

I'm a business student but find myself difficult to understand the accounting concept

[@bdbbdb6483]

I'm currently in a accounting class as a junior and you explained this better than my teacher . I was lost at sea when my teacher taught me this but I came to this and I think I have a better knowledge. Thanks

[@sarahmjones13]

This is exactly how I felt after we covered it in our lesson.... I thought I'd never get it but this video has just made everything clear!

[@AccountingStuff]

No worries, I'm glad to hear that it's making more sense for you!

[@AccountingStuff]

@@sarahmjones13 That's awesome!

[@philevans7001]

Thanks for the video. I was getting really tired of some trying to explain a balance sheet by just droning on that a balance sheet must balance because that's why it's called a balance sheet; like it's some sort of cult. With your explanation and examples I can see some purpose behind it and get a grip on what's going on in it. Cheers

[@AccountingStuff]

No worries Phil! For more on the Balance Sheet you can check out this one... kzbin.info/www/bejne/j4vcc4aLa76Xo68

[@WonderrOnYT]

I am getting a %100 in my financial accounting class iA this year.

[@AccountingStuff]

I hope so! Good luck!!

[@bernardyeo9077]

Best accounting channel on KZbin! Thank you James

[@AccountingStuff]

Thanks for your kind words!

[@lauragonzalez4962]

So helpful! Thank you

[@AccountingStuff]

No worries :)

[@shaileshnautiyal9816]

Well explained. Your presentation is awsome. Short videos with a lot of learning. Thank you !

[@AccountingStuff]

Cheers!

[@101barky]

Great stuff James - I'm an accounting dummy and this makes it really clear.

[@AccountingStuff]

Thanks Eddie!

[@101barky]

Its great James - of course its Alison commenting. Eddie is no accounting dummy.

[@AccountingStuff]

Haha good to know Eddie is all over this. Thanks Alison!

[@mecheljamora9826]

Thank you somuch for your content. These is very essential for me especially this time of pandemic. We don't have any discussions. Thank you so much. I will start watching your old videos until the latest❤️

[@AccountingStuff]

No worries, best of luck with your studies!

[@panagiotikontos2724]

could you do an income statement please

[@AccountingStuff]

Will do!

[@gailspitzer4975]

oh...and I also have to say. I used to love my PAPER general ledger and t-accounts! The rules and concepts are all familiar, but Now I have to learn the technology! :-) Thank you!

[@musicfanBRA]

I was struggling with the logic of this equation, but the idea that what you owe depends on who the lender is (so, Liabilities for 3rd parties, Equity for the owners) is a GENIUS way of explaining it. Thank you!

[@AccountingStuff]

Great to hear it's clicking for you

[@markwells79]

This was incredibly helpful as someone who has absolutely no experience in this. Your videos were the first I watched on accounting.

[@sangwhawoo7559]

Thanks for such a great explanation for all this principle that I had hard time understanding at first. I would like to watch more of your videos and recommend your channel to any other friends who want to learn accounting!

[@lornamaina-hw2se]

Jeez you are a God sent 😊You have a specific way of making accounting concepts easier to understand. Thanks its really helpful continue posting more videos

[@AccountingStuff]

Thanks, great to hear you're finding these helpful :)

[@MEsatoAriq]

When he say "BALANCE" for multiple times, its tickle me hahaha

[@mariainahremotcha9628]

Can you teach me the determination of unknown accounting elements...

[@AccountingStuff]

Thanks for your suggestion!

[@andreasvalladolid]

You are my hero dude. Thank you so much, you've simplified accounting for me and I'm getting a better idea. I'm taking intro accounting and I'm lost but you saved my life bro. THANK YOU!!!!! Subscriber 4 life!!!

[@AccountingStuff]

Great to hear that you're finding these vids helpful!

[@tHeBlaCkbRackEt]

It's very useful to youths instead of see useless video we can study thanks bro ❤

[@BoogieMan2828]

I usually don't comment and give likes, but you, sir, deserve likes the and comment for the help you gave me.

[@AccountingStuff]

Glad you found it useful!

[@kiara4681]

Thanks 😃 my school teachers don't even show interest in teaching 🤗 this helps

[@kawaiivee5257]

This is really helpful for my exam later. Thankyou, you explained clearly.

[@AccountingStuff]

Good luck in your exam!!

[@suraiffahamed1272]

Woooow👏 exelent video. I'm Thaniz srilanka. I was study CIMA UK

[@AccountingStuff]

Cheers Suraiff!

[@sweetbro8998]

Hey bro plz make video on bills of exchange or on depreciation...ur videos r very useful

[@AccountingStuff]

Hey thanks and cheers for the suggestions, I will add them to my to-do-list 👍

[@deathsxsaint377]

Thank you this was very informative :D

[@AccountingStuff]

Cheers, I'm glad to hear it!

[@Limitless.ByDesign]

Hey there! LOVE these videos. I am in university now, planning to become an accountant. I sometimes think this is an impossible task. You are making it easier for me and for that thank you so much. SUGGESTION: Can you do a video on the foundational principles (and examples of each). By this I mean 1) recognition and derecognition (economic entity, control, revenue recognition, matching ) 2) measurement (periodicity, monetary unit, going concern, historical cost, fair value), 3) presentation (full disclosure) This may be too much for one video, maybe a three-part series?? Thanks for the great content and I hope you keep it up!!!

[@AccountingStuff]

Thanks Mel, all the best for your uni course. Hope it goes well! Thanks for your suggestions, I will keep those in mind for future videos. Cheers!

[@simonling4644]

My heart goes out for the guy who bought the popcorn for $18

[@jeanclgn]

man i just started the university and i’m studying this stuff: you are saving my life thank you so much!!

[@AccountingStuff]

No worries Jean, good luck with your studies!

[@viraloutbreaks99]

OMG! Just the first 2 minutes were more useful than my last month in class.

[@darylyue2026]

Thank you so much James! Just to support some English. For anyone who doesn't know "mark up" means, "mark up" means increased price of goods. From 3:00 in the video, there is "60% mark up on cost". The cost is $5, the increased price is $3 ($5*60%), which means the "mark up" is $3. Therefore, the original cost is $5, the mark up is $3, the sale price is $8. Hope it helps! And correct if I were wrong.

[@crismejeli2082]

really helped to understand

[@darylyue2026]

@@crismejeli2082 Thanks Cris!

[@aishawani9709]

Thank God for you!

[@AccountingStuff]

No problem! Hope it helps

[@TheAviari]

this video alone was enough to make me subscribe!! thanks. appreciation all the way from Kenya ... :)

[@AccountingStuff]

Thanks for the sub! All the best

[@annmariyathomas2456]

Thank you so much You are a life saver.😃

[@sarahh9903]

I've been struggling to understand debits and credits since my first accounting class this is the first time it's been explained and visually shown in a way that it really clicked for me. Thank you so much for making this video! You've gained another subscriber!

[@AccountingStuff]

Nice one Sarah! Debits and Credits can be so confusing. Glad they are making sense now

[@MirageandReality]

This is great and I know I’m probably stupid asking this as a total newbie but I still don’t understand why the equation isn’t, equity - liabilities = assets, the same as the profit equation? Why is a liability included in an asset if it’s the opposite?

[@ArdenVlogs]

Thanks man I get this lesson than my teacher

[@alsinbad3772]

Hi James, I heard some people talk about double entry accounting played a huge role in modern economy by reducing financial frauds and government corruption, can you please talk about how this works (if it did)?

[@AccountingStuff]

I'll keep this in mind as a topic for a future vid :)

[@alsinbad3772]

@@AccountingStuff Thank you so much!!

[@AccountingStuff]

@@alsinbad3772 No problem :)

[@amberwatson2063]

Have tried to learn this for so long!......I finally get it! 100% subscribed 🤗

[@AccountingStuff]

Wooo! Glad it's making sense. Thanks for the sub :)

[@tanushkaverma1912]

You are the one who really wants us to learn and so you make everything which can be understood by everyone in need and love the way you reply to all the comments👍 Accountancy is easy when we learn from someone like you... Blessed to find your channel ❤️

[@AccountingStuff]

Glad you're finding these helpful! All the best :)

[@elizabeths1587]

Thank You for helping me understand accounting.Your videos are great! You should be a teacher! You have the gift to help others understand the information clearly.

[@AccountingStuff]

No worries Elizabeth! I'm happy to help :)

[@cwengakenqa6602]

Thank you, we appreciate these accounting lessons even though you move very fast but i guess thats how the business works

[@AccountingStuff]

Hey Cwenga, no worries. Have you tried slowing the playback speed in your video player to about 0.75? Maybe it will help

[@juliesong4106]

ISTG this man is so smart and handsome

[@sallyfairman3333]

Great video! I finally understand the accounting equation!

[@AccountingStuff]

Nice one! Love it when things fall into place

[@MedGaabon]

Who’s watching with me in 2022? Thank you so much man! The visual aids helps a lot to me. ❤

[@hendrixtimestwo]

Awesome video man. Read this part of my textbook 5 times without getting it. Subscribed

[@AccountingStuff]

Glad to hear it!

[@lynnlambert3068]

Thank you so much!! I've sampled MANY youtube accounting videos but always find your videos to be understandable, clear and concise!!! You are my go to (youtube) guy for understanding accounting principles!!!!!

[@AccountingStuff]

Thanks Lynn, glad you're finding these helpful :)