ACCOUNTANCY BASICS: a Information to (Nearly) Everything Acc…
ACCOUNTANCY BASICS: a Information to (Nearly) Everything
Accountancy Cycle Cheat Sheet → https://accountingstuff.com/store
Obtain your Accounting Stuff Merch → https://accountingstuff.com/merch
Would certainly you favor to recognize what Accounting REALLY MEANS? On this quick tutorial we’ll take 1 very easy circumstances as well as follow it by all 8 Steps of the Accounting Cycle – from start to finish – you will certainly create a steady understanding of every one of the Accounting Fundamentals we run into together with the method which. Things much like the Accounting Equation, Debits & Credit, Double-Entry Accounting, T-Accounts, the Trial Steadiness and also lots of others.
When you’re an Accounting Newbie, after that I such as to advise viewing this throughout to the top – not much less than as quickly as – to obtain an entire photo of just how Accounting functions. After that, you’ll have the ability to jump right into my Accounting Fundamentals Playlist (see under) as well as find each topic in added aspect.
LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → https://www.youtube.com/playlist?record=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb
▪ Fairness Video → https://youtu.be/Fr5oHEYrT2A
Subscribe for additional Accounting Tutorials → https://geni.us/subtothechannel
00:00 – Intro.
00:16 – What’s Monetary Accounting?
01:11 – STEP 1: IDENTIFY TRANSACTIONS.
01:29 – STEP 2: PREPARE JOURNAL ENTRIES.
01:32 – What’s a Journal Entry?
01:36 – What does a Journal Entry look like?
02:05 – What’s Double Entry Accounting?
02:58 – What’s the Accounting Equation?
04:17 – STEP 3: POST TO GENERAL LEDGER.
04:22 – What’s the Basic Ledger?
04:43 – Posting to Accounts.
04:49 – What’s an Account?
04:58 – The 6 Kinds of Account – Belongings, Liabilities, Fairness, Income, Bills & Dividends.
05:21 – What are T-Accounts?
06:00 – What does the Basic Ledger look like?
06:18 – STEP 4: UNADJUSTED TRIAL BALANCE.
06:22 – What’s a Trial Steadiness?
06:43 – Easy approaches to create a Trial Steadiness.
07:10 – Why is it described as Trial Steadiness?
07:28 – STEP 5: POST ADJUSTING ENTRIES.
07:32 – What are Adjusting Entries?
07:40 – IFRS vs GAAP.
08:21 – What’s the Accrual Technique of Accounting?
08:41 – Adjusting Entries Instance.
10:14 – STEP 6: ADJUSTED TRIAL BALANCE.
10:41 – STEP 7: CREATE FINANCIAL STATEMENTS.
10:44 – What are Monetary Statements?
10:59 – What are the 3 kind of Monetary Statements?
11:10 – What’s the Steadiness Sheet?
11:28 – What’s the Revenue Assertion?
11:43 – Revenue vs Money Move.
11:54 – What’s the cash Move Assertion?
12:04 – Who would certainly utilize Monetary Statements?
12:34 – STEP 8: POST CLOSING ENTRIES.
12:41 – What are Closing Entries?
12:51 – Closing Entries Instance.
13:10 – Submit Closing Trial Steadiness.
13:20 – THE ACCOUNTING CYCLE.
FREQUENTLY ASKED QUESTION.
▪ My Favorite Accounting Ebook for Freshmen → http://geni.us/5mKR7m.
CLOUD ACCOUNTING SOFTWARE.
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▪ Twitter → https://twitter.com/AccountantStuff.
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#accounting #accountingbasics #accountingstuff
Bookkeeping Cycle Cheat Sheet → https://accountingstuff.com/store
Would certainly you favor to recognize what Accounting REALLY MEANS? On this short tutorial we’ll take 1 simple circumstances as well as abide with it by all 8 Steps of the Accounting Cycle – from start to finish – you will certainly build a steady understanding of all of the Accounting Fundamentals we experience together with the means in which. Things simply like the Accounting Equation, Debits & Credit, Double-Entry Accounting, T-Accounts, the Trial Steadiness as well as lots of others.