https://www.youtube .com/watch?v=VYNTBWBqncU
Get Access to My Course “Fundamentals of Financial Analysis” HERE: https://courses.xelplus.com/p/financial-analysis New to Accounting? In this video I will introduce you to the world of accounting by telling you a story. This quick tutorial gives you an introduction to accounting and explains the concepts of income statement (Profit & Loss), balance sheet and the accounting equation (Assets = Liabilities + Equity). You will also learn through examples what assets, liabilities and equity are. I will also introduce you to the concept of the T account. This is something that we will look into more detail in the Debits & Credits video. You will follow a day of an Italian beach business and see how this is reflected in two financial reports – although this is a simple example, it can be applied to more complex situations: 00:00 Financial Statements Explained 00:53 Claudio’s Beach Business 02:13 Income Statement (which is Revenue – Expenses) 03:31 Balance Sheet 06:21 Claudio’s Balance Sheets at different points in time In the next video of our accounting basics series, we’ll take a look at Debits & Credits and in the video after that will take a closer look at the balance sheet. ★ My Online Excel Courses ► https://www.xelplus.com/courses/ ✉ Subscribe & get my TOP 10 Excel formulas e-book for free
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Time stamps:
00:53 Claudio’s Beach Business
02:13 Income Statement (which is Revenue – Expenses)
03:31 Balance Sheet
06:21 Claudio’s Balance Sheets at different points in time
Thank you very much! Very good explanation!!
How can I contact with you ?
thank you so much
Hello Leila
Hey Dear Leila Gharani! You can explain much better than anyone else. I suggest you to make more videos on accounting and finance using Excel and SAP, especially SAP.
1. If Claudio decides to invest euro 400 into his business, will that be called retained earnings?
2. Are retained earnings treated as cash?
Great and simple to understand. Watching from Ghana.
Awesome! Thank you!
Thank you Leila !!!
You’re good,.. but Claudio is better. Imagine having a business where you’re literally making 5 times more on inventory. 😂🤣😅
The whole of my life I keep struggling to understand accounts I have never seen a teacher like you. I am currently studying pre-master leading to MSc I was worried about how I will survive the accounting course but with your videos, I will be fine.
Please can you go wider on the incoming statement and financial statement of a company? Thank you for this video you are a blessing to accounting students.
i love u so much 🥰🥰🥰🥰🥰🥰🥰
In the days that followed, Claudio obtained a loan, hired employees, rented a warehouse, added more products, insured his merchandise, invested in the stock market, sold on credit, etc. Now he needs an accountant.
😂
Make a video on cash flow
Here you go: https://youtu.be/hMBN6yTIDb0
Great!
Excellent explanation and demonstration
Very good dressing 👗
nice teaching style…thank you
I need a stake in Claudio’s business
Thanks, very very useful for me,