The Ultimate Guide to Financial Statements

[@AccountingStuff]

Accrued Expenses can be found in which Financial Statement? a) Income Statement b) Balance Sheet c) Cash Flow Statement d) None of them 🔗 FINANCIAL STATEMENT PRACTICE QUESTIONS Financial Statement Mini-Quiz: kzbin.infoXKsxLrt6L0o Income Statement Mini-Quiz: kzbin.infoEgI9P_VJPDM Balance Sheet Mini-Quiz: kzbin.infoMMG5Or8N9-U Cash Flow Statement Mini-Quiz: kzbin.info3-YTBVhZWsk ⏱TIMESTAMPS 00:00 - Intro 00:36 - What are Financial Statements? 09:00 - What is a Balance Sheet? 15:35 - What is an Income Statement? 19:56 - What is a Cash Flow Statement?

[@silsilatube7627]

Balancesheet

[@AccountingStuff]

@@silsilatube7627 Correct ✅

[@thistlefield24]

Balance sheet

[@AccountingStuff]

@@thistlefield24 Correct ✅

[@flinkymatawaran]

Sorry that should be B. Accrued expenses are payables 😊

[@deadsylph7397]

hi james, it may seem like not all ur videos are getting the attention, but thank uu that u keep going with making them. every year there will be new accounting students and they will immensely need u so dont stop

[@AccountingStuff]

Thanks, I don't plan to stop any time soon

[@j_b_138]

Your way of creating content is very interesting and creative, making the concepts of accounting much fun to learn. The videos really help a lot of beginners like myself here, keep up the good work james!

[@AccountingStuff]

Thanks! Great to hear you're enjoying these :)

[@allannortje6440]

Thank you so much Sir, I have been studying accounting for like two years now and this is always a "new learning" curve no matter how well you know everything, please keep this up this is what keeps us alive in the workplace . Much love from South Africa, and May you be Blessed !

[@AccountingStuff]

Best of luck with your studies!

[@GBLisa]

@@AccountingStuff There is a mistake in the trial balance; the equity is not $10,050. It should be calculated as $1,050 + $11,050 - $1,000, resulting in $111,000.

[@lucasasselmeier7825]

@@GBLisait’s all good it’s just an example

[@bjornastar]

Back again with huge thanks and compliments to you! I first stumbled onto your videos looking for a quick explanation of debits and credits... and today I was able to pass a screening test and land an interview for my next step after bookkeeping - thanks to you! I do believe they call that, "doing the good work." Kudos to you, truly. My Mom's been a Controller my whole life and never once made these principles as clear or as interesting as you have. But, let's keep that our little secret.

[@AccountingStuff]

Great news on landing the interview! Best of luck with it :)

[@Penelope-fb9bg]

I have been using your videos to help me get through my cert 4 in business financial administration. Thanks to you I am nearly done and only have one more project to go. Its on operational budgets... You should do a video on that cause every one on the internet is hard to follow and you are the only person on the internet i can watch to learn things.

[@AccountingStuff]

Thanks for your request!

[@Octumaria]

I’m studying accounting and these videos have been so absolutely wonderful. I take down as many notes as I can! Please keep it up. 😊

[@AccountingStuff]

That's great to hear! All the best with your studies :)

[@Octumaria]

@@AccountingStuff thank you! I’ve been subscribed since I started researching what degree I wanted to pursue. Now at 22 I started my first year of college and your content has been a wonderful & incredibly valuable resource for me and other students. Thank you!!!🙏🏼

[@AccountingStuff]

@@Octumaria Hope you're enjoying college!

[@Kitty-lj7eg]

Thanks!

[@AccountingStuff]

Legend! Thank you so much :)

[@yashagashe3859]

You explain the accounting things very conceptually & precisely,I expect you to post videos on complex accountings topics like financial reporting in the future

[@AccountingStuff]

Thanks for your request!

[@theodorelapointe3624]

I thank you deeply for simplifying these for my dyslexic add brain. Love those quizzes as well.

[@AccountingStuff]

No problem! I'm dyslexic too so perhaps that helps :)

[@mazeemadaline3091]

Seriously ur vids are saving my degree

[@AccountingStuff]

Best of luck in your studies!

[@count9548]

Very nice accounting stuff!

[@AccountingStuff]

Thanks!

[@lmxjj9675]

hi, could you make a video explaining trade receivables and trade payables, and the difference between them?

[@AccountingStuff]

Thanks for your request!

[@dabananaking09]

Amazing video! Great way to recap and refresh my knowledge of what I learned a few years ago.

[@AccountingStuff]

Glad to hear you enjoyed it!

[@m.pranav-is5sn]

Thank you for clear explanation of each and every concept. Bro can you please put a video for BANK RECONCILIATION STATEMENT.....

[@AccountingStuff]

You're very welcome! Here you go... kzbin.info/www/bejne/sJnQgGZ6gpiMn7s

[@juanpablorico8239]

Great explication! Compliments to you

[@AccountingStuff]

Thanks, glad you enjoyed it!

[@Crazyblood07]

Thanks a lot and love from Nepal

[@AccountingStuff]

❤

[@suzanmdletshe4190]

Amazing videos bro Keep it up

[@AccountingStuff]

Thanks, will do!

[@aamnaaslam5487]

Another great video! Thanks a lot for making these videos and teaching us in a very fun way. I have a request that can you please make videos on QuickBooks not the ones about posting stuff but about how to analyze and work on trial balance accounts to see if there is some adjustment needed and if there is something off with each account after posting all the data for the year. Again thanks for your content and keep it up!

[@AccountingStuff]

Thanks for your request!

[@Lalithasakhi17]

Hi james , how are you?..pls a make video on provision for bad debts, bad debts writeoff & what will be the impact on Bls & P/l. Thankyou so much for your content which is very helpful to me. I'm learning alot through your videos.

[@AccountingStuff]

Hey there! I'm doing well, thanks for asking. Cheers for your requests. I'll keep them in mind for future videos :)

[@mbryanuk]

Hi, great videos. Can I make a suggestion for a future one. It would be good to get your take on making provisions and allowances for bad debts and writing off bad debts. No-one on here has done it as helpfully as you could…thanks.

[@AccountingStuff]

Thanks for your request!

[@tytrrtt]

You are fantastic !!!

[@AccountingStuff]

Thanks, glad you enjoyed it!

[@pablodoradoo]

Hello I have a question unrelated to the video but maybe someone can help me. I have a little shop on Etsy and to list an item I have to pay $0.20. Well this listing will last something like 12 months or something like that. I can make several sales on the same listing, so should I treat every listing like a prepaid expense and amortize it every quarter? I will have a bunch of them. Also what if I take the listing down should I write it down from the balance sheet. Is there a more straightforward method? I was thinking of expensing it the quarter the listing occurs but I think that's not accurate. Please any help is welcome

[@novikee07]

Thank you so much for your service but if you can manage also upload some videos on manufacturing cost accounts

[@AccountingStuff]

Thanks for your request!

[@tylerdeacon8197]

Where have you been the entire semester I found you just in time to study for finals.

[@AccountingStuff]

Best of luck in your finals!!

[@LearningFinance-m1c]

Can you please make a video on business combination & consolidation of FS

[@AccountingStuff]

Thanks for your request!

[@zsmillion669]

Please make a video on manufacturing account trading profit or loss ❤❤❤❤❤❤

[@AccountingStuff]

Thanks for your request!

[@hiii1715]

my exam is tomorrow, you just saved my life

[@AccountingStuff]

Best of luck!!

[@overhead4577]

Hi, explain pls how to deal with agents in transactions!😊

[@AccountingStuff]

Thanks for your request!

[@MyStory-100]

Thank you for your videos! Do you have anything on bonds? 💛

[@AccountingStuff]

Not yet!

[@estacx.]

NO Video On Consolidation?

[@AccountingStuff]

Not yet!

[@hunterbirch3527]

Can you do a video on Horizontal and Vertical analysis?

[@AccountingStuff]

I'll keep it in mind for a future video :)

[@Mmo0jsSh_]

Have you made any videos of Statement of Changes in Equity

[@AccountingStuff]

No yet!

[@iHCHai]

Could you please tell me which video editor software do you use for your series? Thank you in advance.

[@AccountingStuff]

I use Final Cut Pro

[@jazza9559]

Please can you do a video on double entry for bad and doubtful debt?

[@AccountingStuff]

Thanks for your request!

[@lhsgolf3]

19:23 what is considered interest expense?

[@AccountingStuff]

Interest incurred from taking out a bank or commercial loan

[@Mdirfan-ng1xk]

Sir will your videos will be useful to indian students?

[@AccountingStuff]

I think so!

[@hardology6665]

hi can u plzzzzzzzzzzzzzz upload debtors detailed chapter from basics to moderate level im seriously struggling a lottt on this ch its likehardest ch of accounting for me it took over 10 days still cant get it

[@AccountingStuff]

Thanks for your request!

[@lintojoevarghese104]

Statement of changes in equity

[@AccountingStuff]

I plan to cover this in a future video!

[@yasmeenkauser6419]

Can you please make a video on suspense accounts

[@AccountingStuff]

Thanks for your request!

[@gosu_bg5818]

Im trying to find an accounting apprenticeship or privately paid course as a recently graduated A level student , could anyone guide me or share some insight please? Thanks!

[@Aarambhkar]

Any student from India ❤🇮🇳

[@kew1900]

yuh🦍🦍🔥🧯

[@drock5288]

No one uses the direct method for cashflow

[@AccountingStuff]

It's definitely less popular

[@Releasetheheart]

Bro why are you making and selling cheatsheets Ai is giving free😂

[@AccountingStuff]

They provide a visual summary of the content of my videos. It's a handy way for people to keep notes on these topics without having to write them themselves, and it's an opportunity to support this channel. If you're happy to use AI to write your notes then thats fine

[@RenuDevi-v2y8y]

🫰yo i was waiting for this video🎥 Best explained... Easy peasy lemon squeezy way🩵

[@AccountingStuff]

Thanks, glad you found it useful!

[@nompilomakhubu588]

You are amazing!! Thanks for simplifying accounting 🧾

[@AccountingStuff]

No problem, happy to help :)

[@LearningFinance-m1c]

Can you please make a video on business combination & consolidation of FS