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Accounting

Accounting

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ACCOUNTING BASICS: a Guide to (Almost) Everything

1

#1 Basic Introduction of Financial Accounting

2

#1 Journal Entries Accounting (Introduction) ~ Concept Behind Rules of Debit and Credit

3

#2 Journal Entry through Accounting Equation ~ Modern Approach Redefined

4

ACCOUNTING BASICS: a Guide to (Almost) Everything

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ACCOUNTING BASICS: a Guide to (Almost) Everything

💥Accounting Cycle Cheat Sheet → https://accountingstuff.com/shop🛒 Get your Accounting Stuff Merch → https://accountingstuff.com/merchWould you like to know what Accounting REALLY MEANS? In this short tutorial we'll take 1 simple example and follow it through all 8 Steps of the Accounting Cycle - from start to finish - you'll build a solid understanding of all the Accounting Basics we encounter along the way. Stuff like the Accounting Equation, Debits & Credits, Double-Entry Accounting, T-Accounts, the Trial Balance etc.If you're an Accounting Beginner, then I recommend watching this all the way through to the end - at least once - to get a complete picture of how Accounting works. Afterwards, you can jump into my Accounting Basics Playlist (see below) and explore every topic in more detail.🎬LEARN ACCOUNTING BASICS FOR FREE▪ The Full Playlist → https://www.youtube.com/playlist?list...▪ Equity Video → https://youtu.be/Fr5oHEYrT2A🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel⏱️TIMESTAMPS00:00 - Intro00:16 - What is Financial Accounting?01:11 - STEP 1: IDENTIFY TRANSACTIONS01:29 - STEP 2: PREPARE JOURNAL ENTRIES01:32 - What is a Journal Entry?01:36 - What does a Journal Entry look like?02:05 - What is Double Entry Accounting?02:58 - What is the Accounting Equation?04:17 - STEP 3: POST TO GENERAL LEDGER04:22 - What is the General Ledger?04:43 - Posting to Accounts04:49 - What is an Account?04:58 - The 6 Types of Account - Assets, Liabilities, Equity, Revenue, Expenses & Dividends05:21 - What are T-Accounts?06:00 - What does the General Ledger look like?06:18 - STEP 4: UNADJUSTED TRIAL BALANCE06:22 - What is a Trial Balance?06:43 - How to build a Trial Balance07:10 - Why is it called Trial Balance?07:28 - STEP 5: POST ADJUSTING ENTRIES07:32 - What are Adjusting Entries?07:40 - IFRS vs GAAP08:21 - What is the Accrual Method of Accounting?08:41 - Adjusting Entries Example10:14 - STEP 6: ADJUSTED TRIAL BALANCE10:41 - STEP 7: CREATE FINANCIAL STATEMENTS10:44 - What are Financial Statements?10:59 - What are the three types of Financial Statements?11:10 - What is the Balance Sheet?11:28 - What is the Income Statement?11:43 - Profit vs Cash Flow11:54 - What is the Cash Flow Statement?12:04 - Who would use Financial Statements?12:34 - STEP 8: POST CLOSING ENTRIES12:41 - What are Closing Entries?12:51 - Closing Entries Example13:10 - Post Closing Trial Balance13:20 - THE ACCOUNTING CYCLE🔎FAQ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m🔝 CLOUD ACCOUNTING SOFTWARE▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7🚶FOLLOW ME ON▪ Insta → https://www.instagram.com/accountings...▪ Twitter → https://twitter.com/AccountantStuff________________________DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________#accounting#accountingbasics#accountingstuff

Accounting

ACCOUNTING BASICS: a Guide to (Almost) Everything

1

#1 Basic Introduction of Financial Accounting

2

#1 Journal Entries Accounting (Introduction) ~ Concept Behind Rules of Debit and Credit

3

#2 Journal Entry through Accounting Equation ~ Modern Approach Redefined

4

Accounting

💥Accounting Cycle Cheat Sheet → https://accountingstuff.com/shop🛒 Get your Accounting Stuff Merch → https://accountingstuff.com/merchWould you like to know what Accounting REALLY MEANS? In this short tutorial we'll take 1 simple example and follow it through all 8 Steps of the Accounting Cycle - from start to finish - you'll build a solid understanding of all the Accounting Basics we encounter along the way. Stuff like the Accounting Equation, Debits & Credits, Double-Entry Accounting, T-Accounts, the Trial Balance etc.If you're an Accounting Beginner, then I recommend watching this all the way through to the end - at least once - to get a complete picture of how Accounting works. Afterwards, you can jump into my Accounting Basics Playlist (see below) and explore every topic in more detail.🎬LEARN ACCOUNTING BASICS FOR FREE▪ The Full Playlist → https://www.youtube.com/playlist?list...▪ Equity Video → https://youtu.be/Fr5oHEYrT2A🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel⏱️TIMESTAMPS00:00 - Intro00:16 - What is Financial Accounting?01:11 - STEP 1: IDENTIFY TRANSACTIONS01:29 - STEP 2: PREPARE JOURNAL ENTRIES01:32 - What is a Journal Entry?01:36 - What does a Journal Entry look like?02:05 - What is Double Entry Accounting?02:58 - What is the Accounting Equation?04:17 - STEP 3: POST TO GENERAL LEDGER04:22 - What is the General Ledger?04:43 - Posting to Accounts04:49 - What is an Account?04:58 - The 6 Types of Account - Assets, Liabilities, Equity, Revenue, Expenses & Dividends05:21 - What are T-Accounts?06:00 - What does the General Ledger look like?06:18 - STEP 4: UNADJUSTED TRIAL BALANCE06:22 - What is a Trial Balance?06:43 - How to build a Trial Balance07:10 - Why is it called Trial Balance?07:28 - STEP 5: POST ADJUSTING ENTRIES07:32 - What are Adjusting Entries?07:40 - IFRS vs GAAP08:21 - What is the Accrual Method of Accounting?08:41 - Adjusting Entries Example10:14 - STEP 6: ADJUSTED TRIAL BALANCE10:41 - STEP 7: CREATE FINANCIAL STATEMENTS10:44 - What are Financial Statements?10:59 - What are the three types of Financial Statements?11:10 - What is the Balance Sheet?11:28 - What is the Income Statement?11:43 - Profit vs Cash Flow11:54 - What is the Cash Flow Statement?12:04 - Who would use Financial Statements?12:34 - STEP 8: POST CLOSING ENTRIES12:41 - What are Closing Entries?12:51 - Closing Entries Example13:10 - Post Closing Trial Balance13:20 - THE ACCOUNTING CYCLE🔎FAQ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m🔝 CLOUD ACCOUNTING SOFTWARE▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7🚶FOLLOW ME ON▪ Insta → https://www.instagram.com/accountings...▪ Twitter → https://twitter.com/AccountantStuff________________________DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________#accounting#accountingbasics#accountingstuff

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