The BEST BEGINNER'S Guide to the Income Statement! (Explained by Former Investment Banker)

In this video, I go over the basics of the income statement.
🖥️Wall Street Prep🖥️
► Use code RARELIQUID for 20% OFF on any course!
► gv142.isrefer.com/go/rliquid/...
👇Download the Excel and PDF👇
www.dropbox.com/sh/obdu8jrvwb...
🚀Sign up for my courses🚀
► How to get into investment banking: forms.gle/wt4cZrezbxVgNzGUA
► How to get into MBA programs: forms.gle/9yEyycuP7NnQBjue8
🧑‍🎓Career Resources👩‍🎓
► Buy the Resume That Got Me Into JPM: rareliquidcareers.com/
► Wall Street Prep (Use code RARELIQUID for 20% OFF!): gv142.isrefer.com/go/rliquid/...
► TTP - The BEST GMAT prep resource: targettestprep.referralrock.c...
► Books I recommend: amzn.to/3gy28xv
► My filming equipment: a.co/cf97WjW
🎥Related Videos🎥
Cash Flow Statement Tutorial: • The BEST BEGINNER'S GU...
Balance Sheet Tutorial: • The BEST BEGINNER'S Gu...
Trading Comps Tutorial: • Trading Comps Valuatio...
DCF Beginner's Tutorial: • How to Build a Discoun...
Excel Shortcuts for Finance and Modeling: • Top Excel Shortcuts Fo...
A Beginner's Guide to Portfolio Management: • The BEST Beginner's Gu...
⏱Timestamps⏱
0:00 - Introduction
0:37 - What is the income statement?
2:22 - Wall Street Prep
3:40 - Revenue, COGS, Expenses, Profit
9:15 - Easy Excel Examples
16:35 - Concluding Thoughts
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
📱Interact With Me📱
► Instagram: / rareliquid
► Twitter: / rareliquid
► TikTok: / rareliquid
► LinkedIn: / ben-chon-8b0ba34a
► Business Inquiries: [e-mail]
🧑‍🎓Career Resources👩‍🎓
► Buy my resume and cover letter: rareliquidcareers.com/
► Books I recommend: amzn.to/3gy28xv
► My filming equipment: a.co/cf97WjW
🔎Disclaimer🔎
All content in this video is for entertainment purposes only. I am not a professional financial advisor and my statements are not to be taken as instructions or directions. In addition, some of the links above are affiliate links, meaning that at no additional cost to you, I may earn a commission if you click through and make a purchase.
#accounting #incomestatement #financialstatements

[@rareliquid]

👇Download the Excel and PDF👇 www.dropbox.com/sh/obdu8jrvwb03mxe/AAAtur78ryPQ27_kvzkkWdKaa?dl=0 ⬇Wall Street Prep Courses⬇ ► Use code RARELIQUID for 20% OFF on any course! ► gv142.isrefer.com/go/rliquid/rareliquid/ ⬇Wharton / Wall Street Prep Private Equity Certificate Program⬇ ► Use code RARELIQUID for hundreds of dollars off! ► tinyurl.com/mrxy7s6s

[@frankyohance4625]

Thanks so much! These videos are amazing. Very helpful in understanding the nuts and bolts of these essential accounting statements. It's only right now that you make one on the cash flow statement as well Maybe also a basic tutorial on how these three statements are all interconnected. Just some suggestions.👍🏽🙏🏾

[@limonblyat]

I cannot believe the quality of content you make, thank you lots sir.

[@kevinsuh5313]

Thank you Rareliquid! Love your hat!

[@smallbean6338]

This is great! Can you go into the difference between the cash flow statement and income statement👍

[@danielzapata8299]

Hi, I’m from Spain, I discovered your YT channel about a week ago and I’ve just made all the DCF models of your videos, thank you very much for all that great content. Could you please make a DCF model of a company in other country such as Spain (Inditex) or maybe Germany or UK?? Thanks a lot man, new subscriber!!

[@kylelarson5074]

Something else that I have difficulty understanding the difference between are the many different margins businesses have and which margins are more relevant in which industries.

[@editin232]

How is marketing and Operating Expense? 6:09

[@tranthithuytrang6146]

COGS is recorded, in accordance with the revenue recognized in the period. So on 01/15/2022, you don't have any revenue, the record of "purchase of goods on COGS" is not right. (instead of Inventory). Plz check it!

[@lionels839]

NEW IDEAS: Winnebago Industries (motorhomes manufacturer, cap=1.8B, 15% of Norbert Lou’s portfolio), Builders FirstSource (supplier of building products, cap=9.5B, 10% of Greg Alexander’s portfolio) and Qorvo (radio frequency and power technologies to mobile, infrastructure, the IoT, defense/aerospace and power management markets, cap=9.4B, 10% of Seth Klarman portfolio). All have pretty good PE, PB, ROE and operating margins! What is your opinion on them?

[@barryaherne215]

Awesome! I know this is more for a complex business, but does having this information benefit you from an entrepreneurial point of view when analysing rareliquid? (I understand thing like cogs and depreciation may not come into it in terms of set up cost/creating and updating courses, but I'm still curious 😃)

[@butterflyasmr5774]

how do i look for interships since i been looking but is hard

[@john00123]

How hard has it been

[@chenjimmy2544]

I'm new to accounting, just wandering when calculating taxes, why do you need to add the $5 interest in the calculation? Don't you just use $1650*20% for the taxes and then subtract the $5 to get your net income for march after you deduct the taxes? From my understanding, net income = $1650(operating income) - ($1650 * 20%)(taxes) - $5(interest).

[@DouglasLee9]

You answered your own question. You do subtract the $5 but because it’s a negative or double negative you would add it as per your formula.

[@chenjimmy2544]

@@DouglasLee9 I think I get it now, do you subtract the interest before you calculate the tax.

[@DouglasLee9]

@@chenjimmy2544 per the definition it is the tax rate times the ebit. Then subtract interest then the calculated tax

[@EmelyNokufa]

Good evening i want to ask you

[@jessicaknoll4700]

Very Insightful video, currently investing in the stock market and this made me my first million. The expert who assists me is Lanngel Mark, we met at a trading conference and he accepted to trade for me. He is the best.💯✅

[@xiuying6874]

I want to start investing in stocks, any idea how can I get to him?

[@jessicaknoll4700]

@@xiuying6874 Just look him up, he is famous in the US, his name is Lanngel Mark

[@xiuying6874]

@@jessicaknoll4700 Thank you, I found his website and i am able to reach him from there.

[@john00123]

Lanngel Mark has been my stock broker for some time now. He is doing a great work

[@chen3956]

A colleague of mine in Tokyo invested $100k in his brokerage and he doubled it in months, i heard he is a day trader too. He is finally getting the popularity he deserves

[@Luciaoakley]

Making money from stocks look deceptively easy. The reality is that stock market is one of the toughest mental games in the world.

[@Davidlee8900-p6q]

The elements around the stock market generate tons of useful & using info. If you want to make money you need to understand the fundamentals & keep your mind steady by carefully picking apart Recc & options of others on business that you want to or are invested in.

[@hezekiah49]

@Teresa Blakely Heard Gerald lecture on Bloomberg summit some time last year. He got such a grip on the market! Couldn’t get close enough then. Which medium to reach him