Turn a Trial Balance into an Income Statement in 4 steps

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Download file shown in video [free]:
thefincontroller.com/p/trialb...
Chapters:
00:00 Intro
03:45 Step 1 - Identify the Income Statement Accounts
04:55 Step 2 - Label the Accounts
06:03 Step 3 - Use Sumif formula
07:28 Step 4 - Format & foot the Income Statement
In this video I take a Trial Balance and use it to create an Income Statement, along with an explanation of how the accounting data flows from transactions to financial statements.
Video mentioned in the video about setup of the Chart of Accounts:
• Tutorial On How To Set...
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All views expressed on my channel are mine alone. Not intended as financial or professional advice

[@af7318]

These walkthroughs are excellent. Thank you

[@shapikmulla7030]

A great teaching with experience. Mind-blowing ❤

[@nicholasshook7513]

One of my first interviews I had to do this and failed miserably

[@Think4real78]

Will have to look at this when am free. Thank you boss.

[@joshuabracke5775]

Been binging your content again Bill, thanks so much for this! I've accepted a position as an assistant controller, and these videos have been a great refresher. Thanks!

[@TheFinancialController]

Music to my ears!

[@shuyebrizvi6002]

Wow a versatile teaching method it's mind blowing, even a layman can easily understand ur content . Really a great learning sharing by u. Thanks a lot Bill...

[@nournour953]

Well done ✅ go ahead!

[@garylbrown4]

You are the best!!! Thank you for sharing with the community and I love your no nonsense teaching style. You provide real world lessons and best practices. I have recommended your videos to numerous colleagues. Continued success.

[@TheFinancialController]

You are so welcome!

[@carenasemerel1953]

Thank you for sharing your knowledge

[@user-wj2qi1tp8j]

Simple way to understanding thanks

[@TheFinancialController]

You are welcome

[@falbadry7711]

Amazing explanation thanks for sharing the knowledge

[@TheFinancialController]

My pleasure

[@tegansutherland6866]

Just thank you!

[@samiha_humayra_]

Hiiiii 😊 love from Bangladesh 🇧🇩❤

[@mariafetutorsantavlogs2099]

Woow thanks for sharing your tutorial here

[@MuhammadIrfan-bs6ku]

Very well explained. Can you make video on Management Accounts as most of the company in Ireland and UK post jobs as Qualified accountant and during interviews ask about management accounts

[@kirshanprasanth540]

Hai nice Your video

[@lollypop937]

I have a question. Does a financial controller more suited for a promotion as a CFO or CAO? I'm still trying to figure out what is the difference between the two. And I'm in great need of your help.

[@user-qd2nx4oo1s]

Hello, your videos are great! I have a question, I have not seen. How would i bring my accounts current accounts payable, account rec. and payroll accounts and inventory from one year to another with just financial statements from previous year ending balances and and new one but without statements ending balances bougt to current.

[@lamiaaitbouskri278]

Do you have taxe preparation training . Like 1065 , 1120, etc?

[@inday07]

Good day Mr.Bill , I can't see your comment section stating the link file to be downloaded based on your sample material ( frm TB to IS). So much appreciated with your response on this matter. Thank you .

[@imthatguy4179]

Hello Bill. Can you do a comprehensive video of how cost of sale is calculated. I work for a manufacturing Comestics company in Ghana. My inventory consists of labels,bottles, raw materials,work in process , finish good & etc. please help

[@IslamGamal-jk2tk]

Could you pls make video about corporate treasury accountant

[@danielbilonic1465]

Thank you for all your videos. Can you please do one on mergers and acquisitions? A top interview question asks about one's involvement in M&A and the process.

[@misudhi99]

Hi sir , I have doubt in I have seen some companies in trail it shows closing Cr and closing Dr and eg in fixed asset there will both amount in Dr and Cr and even in other accounts like liabilities amount will be there in both Dr and Cr why is it like that ..

[@yao24]

Hi, I am thinking of getting the course but I work in London as a Junior accountant. Would the course still be helpful for me? We use IFRS

[@TheFinancialController]

Yes, it is! I have many students in the UK

[@guruprasadchaudharya6024]

I need basic accounting

[@bomanjuliet8358]

I don't have stock or even sale in my trail balance

[@iskandera1783]

So is trial balance pretty much dead now since software do this

[@Shahid-952]

Worked hard and P&L ended up loss