US GAAP Principles Mapped To The Balance Sheet Accounts. Fully Explained!

[@patience123]

You are amazing! This is the way accounting should be tought.

[@TheFinancialController]

Thanks!

[@diananolasco7475]

I use to watch your videos even way before going back to college and now that I have to complete an accounting course you surely will be my best friend. The business world needs more people like you that shares their knowledge to make a difference in the world.

[@aruva8995]

Not only your professor, but no one might have taught like you. I love all your videos, all are in-depth which any book can teach .

[@TheFinancialController]

Haha thank you!

[@Gmmannn]

@@TheFinancialController Yes, you should write a book. I never reached this depth of understanding after graduating with an accounting degree.

[@LuzFraterno]

I am loving your videos. These are great for those who are taking a professional exam (CPA, CMA, LPA, ABA).

[@TheFinancialController]

Thanks!

[@vanessaruelas1524]

Literally learning this in class this week and you made a video! Awesome!!

[@TheFinancialController]

Talk about timing ⏱! Nice!

[@marigiaservices7574]

You are amazing! Your videos are an inspiration and excellent lessons! Well done!Don't stop!

[@albertrodriguez2712]

Great Video! First time I see someone explaining accounting the way it should be from a principles and theorical perspective!

[@TheFinancialController]

Thanks Albert!

[@waboxter]

Really thorough explanation of all of the gaap principles, thank you!!

[@jasonhoward279]

Trying to teach myself accounting before I go back to college for it. Thank you for what you do

[@rohitkamath3832]

Very Good video and learning was tremendous, Thank you so much! Look forward to watch more of your videos. I have already subscribed you.

[@dulcem.hernandezg.4449]

I'm so glad, I came across your channel. Thank you for such great context and mentoring! ♥

[@arunprassath497]

Your way of explaining the concepts is amazing which even the fresher will excel in it

[@aarons7307]

I just watched two videos and I'm already convinced, that I will understand accounting much sooner than I thought. Great job on making it simple. 👏

[@manuelmedina7969]

I am an accountant with more than 15 years of experience, the way you confirm the balance of each account in the balance is accuratly what in any audit by internal or external requieres by issue an fiscal dictamen.

[@amsiekam]

Sir, You are an asset to anyone in the Accounting community. Thank you for sharing your wonderful knowledge!

[@TheFinancialController]

It's my pleasure

[@mariamendiola7439]

🎉 I love the music 🎶 it builds and the excitement for your valuable content (future CMA/CPA)

[@evansjuma3831]

Many thanks Bill for this very useful and insightful content.

[@TheFinancialController]

Thanks!

[@raidenx3x]

Thank you so much! You are the best! Would you please make a video on supporting schedules in accordance with GAAP and IFRS?

[@TheFinancialController]

Sure

[@VinodKumar-mm4rj]

thank you so much, its really an informative video. the way you summarized the topic is very easy to understand. request you to please make videos on balance sheet reconciliation in real scenarios, means how we reconcile the balance sheet . methods and the approach in real working environment. will wait for your response. really will be great if you can provide knowledge on this topic. thanks

[@TheFinancialController]

Coming soon

[@esperanzapadilla6314]

You’ve been very helpful with all your contents. Please discuss the US GAAP on long term construction contract

[@maxsuelpereira4140]

Greetings from Brazil!!!

[@1La2La3La4La]

Love your videos , supported with examples. Thank you!!!

[@TheFinancialController]

Glad you like them!

[@siddhartharora2472]

I m from India in class 12th right now And understood everything you explained ( please continue making these videos) Please make video on similarities and differences between ACCA and CPA.

[@TheFinancialController]

Ok thanks

[@charlesoparah3178]

Hi Bill, Excellent presentation. Please let me know if you provide a video on "how to identify accounting and audit risk using GAAP, GAAS,IFRS, & PCAOB. This will be highly appreciated.

[@daianaseltzer8998]

This is amazing and so clear! Thank you so much for sharing!!

[@tiamosobbir2150]

I just discovered your videos and you are a literal godsend. Would you be able to do a video on fund accounting by any chance? Like what it is, how to do it. Thanks so much.

[@TheFinancialController]

Thanks! I will think about the topic for future videos

[@jgomeza]

i have a question about what you said in 6:10 about receivable... in the Column "accrual" says "recording revenue when cash is received". So, where do we must register the credit of the journal entry? We know debit part will be registered as Accounts Receivable but the other part in my opinion should be register as an accrual income. Under IFRS we must recognise an income provision up to we proof that the assets were transfered to the purchasing part, and only there we change the register up to revenue. Can you explain that part detaily? By the way.. thanks a lot for the video. You earn a new follower. 👍

[@lovetrump1088]

Thanks again, great to see the principles mapped to the B/S numbers like this. Also, just an observation for you, but at that 2:11 mark of video...when we talk about 19,008 and are talking "in millions"..that is actually 19 BILLION. In either case, old Crabcake's is doing great this year, must be lots of LockDown Take out for Crabcakes.....whether they sold either 19 MILLION or 19 BILLION! Thanks for all your vids...gonna have to visit your Courses next.

[@TheFinancialController]

Haha those crab cakes are super expensive. Thanks!

[@aaroacademy]

Keep up this great work! Well explained.

[@iobtax]

Appreciate the video, very well thought out and right on the money

[@osamakhan2749]

East and west you are the best

[@oscarvicente6090]

Hi Bill! I am hoping you have time to discuss the kinds of depreciation of fixed assets. If possible to discuss until disposal or write off of FA

[@КатеринаГрищенко-ш2н]

Perfect! Thank you for the video! It's so helpful!

[@benderbendingrofriguez3300]

Could you do a video explaining how they did accounting before computers? Like using the Books of account such as General Ledge, Payroll Ledge, Columnar book, and so on?

[@TheFinancialController]

Interesting idea!! Ok

[@janeh5949]

we used the green columnar pad and a good calculator, that's how! : ) Blessings!!

[@MrAbousy]

It's crystal clear, thanks.

[@JC-zb7mr]

Excellent video - thank you

[@manuelmedina7969]

Great explanations.

[@vakilchirayu]

clear and concise.. great insight

[@TheFinancialController]

Thanks!

[@raidenx3x]

Thanks! Would you do a video on cash flow as well?

[@pradeepbhadana]

Great video.. Absolute joy.. One quick observation... All figures are in 000's and not in millions...Else you are reading them wrong... It would be read as billions..

[@TheFinancialController]

Good catch! Though the focus is not the numbers

[@pradeepbhadana]

@@TheFinancialController couldn't agree more. Would like to thank you again for such great presentation and content. Good luck for future vids ☺️

[@emidiorocha6026]

Great explanation!

[@TheFinancialController]

Thanks brother

[@giorgilobjanidze8297]

Very good. Like other ones. A lot of thanks

[@ShawnBourne]

Great video and nice accounting information.

[@TheFinancialController]

Thanks!

[@aarons7307]

I would like to learn best practices on company financial statements, when looking out for stock picking for value investments. Can you recommend one of your videos? Thanks!

[@shaileshmodi827]

👌Kindly make a video for R2R/Fpna From the practical prospective as well. Thanks

[@TheFinancialController]

Ok

[@jessiele521]

So great and meaningful. Coul you please send to me that excel file to research more about GAAP US? I really interested in GAAP US and want to know more this standard. One thing wanna ask. If I want to research full GAAP US, I should research which link to get full this standard. Kindly help and many thanks to you as well as your channel. It’s very helpful.

[@samseervanhattum5561]

Great video, would it possible to receive the file as a cheat sheet?

[@abdumamo3114]

I love ur videos❤️❤️ you are good man Ur accent is good it is like my Egyptian friend ❤️

[@TheFinancialController]

Haha mashi Abdu!

[@abdumamo3114]

@@TheFinancialController ♥️♥️🌹

[@alfredoramirez3730]

Could you do a quick video of any account books you have ?

[@mjkhalaf2452]

You hit the 🐂 eye !!!

[@yinyin7614]

Good as always.👍

[@erinbsullivan444]

Hi Bill, What should I do if the auditor put to much in accrued liabilities for 2021? I can’t reverse the JE or it will significantly reduce one of our expense accounts. Another accountant told me that I can never touch owners equity?!? Wouldn’t I put the over accrued amount to the equity account called prior period adjustments?

[@TheFinancialController]

I think both options are valid (equity or credit to current year expenses) so just confirm with your auditors which one they find suitable for current year audit

[@erinbsullivan444]

@@TheFinancialController Ok. Thank you!

[@danielcarrasco300]

Great video!, thanks 😁

[@nelson6553]

Fantastic Content Bill - Hey if accounting for private co is being prepared using GAAP; how much flexibility is there when it comes to disclosure support?

[@mrfortunately3290]

appreciate this man 👍

[@SubhashChandraDey-h2m]

Lord🙏🙏🙏🙏 I self taught most accounting concepts to me. And, that is SO motivating! College and tuitions were worth sh**.

[@kaushaljha2373]

Please make a video on deferred rent

[@abdelhadiredouane4973]

I graduated from the university finally with a good Mark 15.55/20 😁

[@TheFinancialController]

Congrats my friend!

[@Joe-g1t]

But i dont think we can write down inventory valuation on gaap

[@ktthoa1303]

It's very usefull, and appreciate that if you can speak slow down a little bit 😅😅😅

[@TheFinancialController]

Ok

[@rajeevranjan64041]

Nice

[@abhinavpandey3022]

Is there job opportunity in USA for foreigners(from Asia) after completing US CMA ?

[@TheFinancialController]

It’s not about the certificate as much is about the experience. Get some good relevant experience that teaches you the actual work

[@salahuddinahmed246]

. If someone is asking me about my experience and knowledge of generally accepted accounting principles and practices (GAAP) for use in the development of budgets and spending plans- what should be my reply?

[@selunrad1276]

Please share your website. Thank you

[@TheFinancialController]

Thefincontroller

[@MyDanikaka]

Nice Informative Viedo !!! Please Do make a viedo on IFRS VS US GAAP highlighting's Key important points for Interview purpose like valuations,principle,recongnition,accrual etc. #tcw786 #BT

[@TheFinancialController]

Ok

[@abdulhamiddankwara3594]

Hello sir, I need your assistance, i want to buy accounting books that will guide me in my accounting career. can you please itemize it for me.

[@rohaneditz4490]

Can I get this template for free 😢 it would really help me

[@michaelnguyen7081]

What a dramatic intro :))

[@TheFinancialController]

Yesss!

[@404TRUCKERTV]

Take notes, if you're taking intermediate, this is all on your test. lol

[@myklelape2494]

Your view on conservatism is wrong

[@majd9956]

Great video! and btw, is there any social media account or email where i could reach out to you for an advice ?

[@TheFinancialController]

My email is in my About section on KZbin

[@majd9956]

@@TheFinancialController I didn't see it, I have sent you a message on Instagram since i follow you there, hope you don't mind. 🤗