ACCOUNTING BASICS: a Guide to (Almost) Everything
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Would 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.
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⏱️TIMESTAMPS
00:00 - Intro
00:16 - What is Financial Accounting?
01:11 - STEP 1: IDENTIFY TRANSACTIONS
01:29 - STEP 2: PREPARE JOURNAL ENTRIES
01:32 - 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 LEDGER
04:22 - What is the General Ledger?
04:43 - Posting to Accounts
04:49 - What is an Account?
04:58 - The 6 Types of Account - Assets, Liabilities, Equity, Revenue, Expenses & Dividends
05:21 - What are T-Accounts?
06:00 - What does the General Ledger look like?
06:18 - STEP 4: UNADJUSTED TRIAL BALANCE
06:22 - What is a Trial Balance?
06:43 - How to build a Trial Balance
07:10 - Why is it called Trial Balance?
07:28 - STEP 5: POST ADJUSTING ENTRIES
07:32 - What are Adjusting Entries?
07:40 - IFRS vs GAAP
08:21 - What is the Accrual Method of Accounting?
08:41 - Adjusting Entries Example
10:14 - STEP 6: ADJUSTED TRIAL BALANCE
10:41 - STEP 7: CREATE FINANCIAL STATEMENTS
10:44 - 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 Flow
11:54 - What is the Cash Flow Statement?
12:04 - Who would use Financial Statements?
12:34 - STEP 8: POST CLOSING ENTRIES
12:41 - What are Closing Entries?
12:51 - Closing Entries Example
13:10 - Post Closing Trial Balance
13:20 - THE ACCOUNTING CYCLE
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#accounting #accountingbasics #accountingstuff
@AccountingStuff 2 жыл бұрын
I packed a lot into this one! Here are the timestamps if you'd like to skip to a section... ⏱️TIMESTAMPS 00:00 - Intro 00:16 - What is Financial Accounting? 01:11 - STEP 1: IDENTIFY TRANSACTIONS 01:29 - STEP 2: PREPARE JOURNAL ENTRIES 01:32 - 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 LEDGER 04:22 - What is the General Ledger? 04:43 - Posting to Accounts 04:49 - What is an Account? 04:58 - The 6 Types of Account - Assets, Liabilities, Equity, Revenue, Expenses & Dividends 05:21 - What are T-Accounts? 06:00 - What does the General Ledger look like? 06:18 - STEP 4: UNADJUSTED TRIAL BALANCE 06:22 - What is a Trial Balance? 06:43 - How to build a Trial Balance 07:10 - Why is it called Trial Balance? 07:28 - STEP 5: POST ADJUSTING ENTRIES 07:32 - What are Adjusting Entries? 07:40 - IFRS vs GAAP 08:21 - What is the Accrual Method of Accounting? 08:41 - Adjusting Entries Example 10:14 - STEP 6: ADJUSTED TRIAL BALANCE 10:41 - STEP 7: CREATE FINANCIAL STATEMENTS 10:44 - 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 Flow 11:54 - What is the Cash Flow Statement? 12:04 - Who would use Financial Statements? 12:34 - STEP 8: POST CLOSING ENTRIES 12:41 - What are Closing Entries? 12:51 - Closing Entries Example 13:10 - Post Closing Trial Balance 13:20 - THE ACCOUNTING CYCLE
@cannibal0613 2 жыл бұрын
Sir, I have a naive doubt to ask. Are these videos based on the concept that financial year is from Jan to Dec , instead of apr-mar?
@AccountingStuff 2 жыл бұрын
@@cannibal0613 In my videos you can assume that unless I have said otherwise :)
@AccountingStuff 2 жыл бұрын
@Gowtham A Thanks, I'm glad you enjoyed it :)
@GoldenEagle4444 2 жыл бұрын
Thankz.. & luv frm india💖
@thegodofthunder2579 2 жыл бұрын
Best video which I only needed to watch to clear all my basic doubts about financing and a huge request for more such videos like financial ratios ROE,ROA, ROS, etc ….. u know it as ur the champion of it all😄. A lot of love and support.
@alrom125 Жыл бұрын
I’m a financial accountant for over 20 years. All accounting students MUST watch this video. Very well done
@muemuemue 8 ай бұрын
Any advice for college students?
@keybladerasta4142 5 ай бұрын
Hey I'm 23 and really stupid do u think it's possible for me to learn this
@user-ws7wr2kq9n 4 ай бұрын
@@keybladerasta4142 anything is possible for you to learn. You just need to dedicate yourself. Also, you're not stupid. Change the way you talk about yourself.
@daisysaucedo1756 3 ай бұрын
can u take my midterm for me im scared
@alrom125 3 ай бұрын
@@muemuemue very late on this. But accounting is a very hard college major especially when you get to intermediate accounting. You cannot half ass this major. If you think you've learned the material and are ready for the exam, KEEP DRILLING IT! Because guess what if you plan to sit for the CPA exam the topics will come back and bite you. The hard work pays off though. The demand for accounting professionals is very high and the income potential ranges from comfortable to well into 6 figures (7 figures at the executive level).
@zionsim8212 3 жыл бұрын
why i came here? cos i didnt listen to my teacher in zoom
@angelinaandrew3451 3 жыл бұрын
Haha......same!!!!
@kendrycs2612 3 жыл бұрын
Same here😂😂
@nicobautista7543 3 жыл бұрын
Real shit
@Strein86 3 жыл бұрын
YES! You hit the nail on the head there. Same boat.
@SaifulIslam-qe4ml 3 жыл бұрын
Why is this so true
@Comatose1231 2 жыл бұрын
This is a legitimate college course. I'm an Accounting major and am taking Acct 301 and this guy went over...everything I've learned in that class lol. Granted there's more detail in the class, homework, you learn how to actually prepare the financial statements, etc. But all the topics are the same. Good job man.
@AccountingStuff 2 жыл бұрын
Glad you found it useful!
@kendrag8118 2 жыл бұрын
Be my tutor! Please.
@alexistoxqui6984 2 жыл бұрын
Is it bad that I’m also in the 301-302 classes and don’t know shit? Literally almost nothing cuz of online learning. Please tell me I’m not alone 🥲
@Cutecraftable 2 жыл бұрын
@@alexistoxqui6984 me rn, how is it so far ?
@FaboIous 2 жыл бұрын
@@Cutecraftable I was you guys 5 years ago. I'm still you.
@spicy7724 3 жыл бұрын
Well this summed up my two years of accounting classes.
@AccountingStuff 3 жыл бұрын
Hope it made sense :)
@FatiFati-qm5xs 3 жыл бұрын
kzfaq.info/get/bejne/n7N_g9iT0qvFoX0.html
@dorkpool768 2 жыл бұрын
@@shichiromegane1239 is that the code Geass op?
@dorkpool768 2 жыл бұрын
@@shichiromegane1239 Good shit bruv
@alexandrapatrick8161 2 жыл бұрын
If by some miracle i pass this class it will be thanks to you. This lesson literally made more sense than an entire semester. Thank you!!
@AccountingStuff 2 жыл бұрын
Good luck Alexandra, I believe in you!
@samueltoh4019 2 жыл бұрын
so did you please tell me you did
@imannoying9749 2 жыл бұрын
@@samueltoh4019 Alexendra? did you?????
@sudhans8268 Жыл бұрын
Alexa did you?
@utkarshsingh5128 Жыл бұрын
Ale pls did u pass?
@hannab3596 3 жыл бұрын
2 weeks into my accounting degree and nothing made sense to me until I watched your video. It's wonderful how you managed to break down a lot of high level content into smaller bits and pieces and show us the links between the concepts. Amazing teacher! Thank you so much!
@AccountingStuff 3 жыл бұрын
Thanks Hanna, hope all's going well with your degree!
@albinabehrami1536 3 жыл бұрын
3 years into my accounting degree, and nothing ever makes sense trust me lol
@AccountingStuff 3 жыл бұрын
@@albinabehrami1536Sorry to hear that you've been having a hard time with it. I struggled as well. Keep on practicing and I'm sure it'll start clicking for you
@AccountingStuff 3 жыл бұрын
@@Omar-xk3ct You need to be familiar with the transactions that are going through the business. Often it's the usual suspects each month
@djmillzmisbehave99 Жыл бұрын
If this aint me rn 😭
@EnzeHD 3 жыл бұрын
Just completed my bachelors in accounting and finance, this was a pretty good summary of financial accounting as a subject!
@AccountingStuff 3 жыл бұрын
Congrats on completing your degree!
@austinmiller4505 Жыл бұрын
how is it going for you? I'm considering going to college for it
@heizoukazuha9042 Жыл бұрын
@@austinmiller4505ust go for it if you like accounting. Pretty high demand in job
@whatitdo834 Жыл бұрын
@@austinmiller4505 don’t get stressed when you see how much you have to learn and remember for each semester
@DownPulse2011 8 ай бұрын
How has your degree been doing for you in the last two years? I work with ledgers but not a accountant by any means
@ExxonMobilCompany Жыл бұрын
fantastic video Everybody wants to be financially independent and live a better life. With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realised early on that achieving financial freedom requires hard work.
@marcelrobert9569 Жыл бұрын
Sincerely, I'm genuinely moved by what you said. I have a seizable amount of money that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
@marcelrobert9569 Жыл бұрын
@@jamesvigor6409 As an OAP with extensive experience, I firmly think that having the appropriate information is essential to the success of any investment. Regardless of what others may say, do whatever you set your mind to. Warren Buffer frequently advises, "Be fearful when others are greedy, and greedy when others are fearful." The secret to succeeding even while others fail is undoubtedly this. Working with financial advisor Julie Anne Hoover, I earned $100,000. So far, working with her has been a promising experience.
@charlotteflair1043 Жыл бұрын
@@marcelrobert9569 I just looked her up on the web and I would say she really does have an impressive background on investing. Will write her an email shortly. Thanks for sharing
@danielmillar5493 11 ай бұрын
Sucks like a Hoover
@epickzalpha8273 3 ай бұрын
Bot
@AdrianTheR 3 жыл бұрын
Mate, your channel it's the top visual learning resource for Accounting students/graduates. Cheers from Scotland 👍
@AccountingStuff 3 жыл бұрын
Thanks Adrian, all the best!
@MohamedMostafa-sm5jk 3 жыл бұрын
I agree 👍🏻
@melmob6538 3 жыл бұрын
ditto. one of the best found on line !
@adrianfernand33s 3 жыл бұрын
I've just started my degree and hopefully I can learn a thing or 2 from you
@syedgallani5624 3 жыл бұрын
@@AccountingStuff Can you make a video on accounting cycle please it would be much appreciated :)
@JunemarFlores 3 жыл бұрын
This is the most creative and interesting channel that offers free accounting tutorial. Kudos to you, sir!
@AccountingStuff 3 жыл бұрын
Cheers Junemar :)
@FatiFati-qm5xs 3 жыл бұрын
kzfaq.info/get/bejne/n7N_g9iT0qvFoX0.html
@KiyosakiSays 10 ай бұрын
“The word accounting comes from the word accountability. If you are going to be rich, you need to be accountable for your money.” - Robert Kiyosaki
@allenvayner4987 10 ай бұрын
Soon, there is going to be the rapture. It's when there will be trumpet sounds, and after the trumpet sounds, God will lift his people from here. Also, God said people should be living by the Bible. Amen, and God bless you. * John 3:16 - "For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life".
@Cyborg_Lenin 9 ай бұрын
Funny that he thinks rich people are held accountable.
@TiniestKelp 9 ай бұрын
Isn't Robert Kiyosaki a snake oil huckster?
@LlednarHugh 8 ай бұрын
@@TiniestKelpI don't remember. But I don't hold his words to very high regards. Doesn't he say to not tell everything that you know. So better read the bible.
@TiniestKelp 8 ай бұрын
@@LlednarHugh I don't know much about him, but my uncle reccommended me his book. I read partway through his book "Rich Dad, Poor Dad" and it's all vague, anecdottal platitudes. The "If Books Could Kill" podcast has an episode on him if anyone wants to do further research.
@Dovahkiids 3 жыл бұрын
this video covers my 1 semester worth of college in just 14 minutes,,, i'd click the like button 100 times if i could haha
@FatiFati-qm5xs 3 жыл бұрын
kzfaq.info/get/bejne/n7N_g9iT0qvFoX0.html
@a3r0nautical_ 2 жыл бұрын
This is why I’m not attending college 🤣
@annamitchell9020 3 жыл бұрын
I got my accounting degree 30 years ago and to this day there's probably still nobody in that university who could explain it as well as this. I especially love the scales illustration of debits and credits - it made so many terms I never thought about the meaning of make sense - Balance Sheet, balancing the books, out of balance. Also the comment that debits and credits don't mean good or bad, or plus/minus - it's little things like that that can make all the difference between confusion to clarity and confidence. DEALER is handy too. Amazing teaching. Well done You.
@AccountingStuff 3 жыл бұрын
Hey Anna, thanks for your kind words!!
@graywilliams_77. 11 ай бұрын
Financial books have been so helpful. >> I’m 54 and my wife 50 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
@graywilliams_77. 11 ай бұрын
I read a book that talked about having a financial adviser. Well, Credits to ROCHELLE DUNGCA-SCHREIBER, she saw me through the process. You can glance her name up on the internet and verify her yourself. she has years of financial market experience..
@paulsmith3820 Жыл бұрын
I was a CPA for more than 30 years before retirement. This is a great video. It would have been nice to have this overview as I waded through Accounting I, which was a fifteen week course.
@emotisean 3 жыл бұрын
This is the channel I have waited for. Thank you for existing and making all our lives easier.
@AccountingStuff 3 жыл бұрын
No worries Sean, I'm happy to help!
@johnstate7650 3 жыл бұрын
@@AccountingStuff do you by chance offer paid assistance for accounting set-up? For ltd's. If not continuous service, maybe a correct setup?
@AccountingStuff 3 жыл бұрын
@@johnstate7650 I don't I'm afraid
@Anonymous_Anon882 Жыл бұрын
It does but you have to stumble across these resources at the right time. Relying on Zoom alone when you’re likely to have lecturers who aren’t prepared for online teaching (which is probably a shame because a lot of people would prefer it to in-person lectures at least 60% of the time) is hopeless and won’t get you anywhere. Many people try that and end up failing and repeating.
@teojz 3 жыл бұрын
I have just finished my accounting test, i gotta say you really helped me a lot, I had two semesters of accounting and still confused a hell. your videos are so easy to understand and so well professionally edited , i watched all videos in this channel in only two days and understood so many concepts and calculations in just two days than the two semesters i had in college. To be honest, you are literally the best accounting channel in the internet. I recommended your channel to alot of people, hope this channel will grow big and have millions subscribers. I also always try not skip ads to support your channel 🤘
@AccountingStuff 3 жыл бұрын
Hope the test went well! Cheers for all your support :)
@Riggsnic_co Жыл бұрын
With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. My portfolio suffered a big hit, holding it further won’t be any good. I've heard of people netting hundreds of thousands this red season. How can I ensure this?
@hermanramos7092 Жыл бұрын
True, the idea of a portfolio-coach used to sound generic, but a new study by investopedia actually found that demand for portfolio-coaches sky-rocketed by over 41.8% since the pandemic and based on firsthand encounters, I can say for certain their skillsets are topnotch, I've raised over $700k from an initially stagnant reserve of $150K all within 14months.
@lipglosskitten2610 Жыл бұрын
@@hermanramos7092 I will be retiring in two years and I have a goal of doing that with $1M. How can I reach out to your guide?
@hermanramos7092 Жыл бұрын
@@lipglosskitten2610 The advisor I use is actually quite known, you might have heard of her, Catherine Morrison Evans, she's been featured on several platforms including CNBC and Bloomberg, you can search her name.
@Riggsnic_co Жыл бұрын
@@hermanramos7092 She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
@josianarocha1671 4 ай бұрын
I'm a financial accountant in Brazil for over 12 years. Now I'm trying to get a job in another country, this video helped me a lot to learn accounting terms in English. Thank you very much!
@AccountingStuff 4 ай бұрын
No problem, best of luck with your job hunt!
@vikig4717 3 жыл бұрын
My journey with accounting has always been on a touch and go basis through college and university - I know enough to pass the papers. Now that I am working full time as a finance controller, I found my knowledge in accounting lack thereof, often trying to piece what i know together. So I have decided to unlearn and relearn everything. I have to say - this is the most interactive accounting channel with very elaborated contents!
@AccountingStuff 3 жыл бұрын
It's so easy to get bogged down in the day-to-day tasks at work and forget the big picture. Good on you for coming back to the basics, I think we all need to do that from time to time.
@brynasaurus 2 жыл бұрын
I agree ☝🏼 I’ve been doing it for 20 years and software is constantly changing.
@insertname8511 3 жыл бұрын
Pleaseeee can you try posting weekly or even biweekly? I think im speakin on behalf of everybody when i say these videos are absolutely amazing
@insertname8511 3 жыл бұрын
@@speedrunmemes7138 ofc i 100% agree quantity over quality im just asking if he can try to post a little more frequently. Obviously his personal life overrides yt.
@AccountingStuff 3 жыл бұрын
Hey there, I would love to do that but I'm working by myself and these videos take a long time to put together. Hopefully I the future I can streamline the process and release more consistently. All the best!
@insertname8511 3 жыл бұрын
@@AccountingStuff I completely understand! Thanks for the reply have a good day.
@AccountingStuff 3 жыл бұрын
@@insertname8511 No worries, likewise!
@HectorGarciaCPA 3 жыл бұрын
In James defense.. I can tell you these things take a LONG time to edit. So even he he did this and only this full time, we are lucky if he could get one a week!
@tolgonaiturgazieva3157 2 жыл бұрын
Perfectly summed up my one-semester course in 14 mins, bravo!
@ziairam Жыл бұрын
Currently a senior and I lovee this video because the bases that it covers over feels familiar yet naturally things I do feel are meant to be done. You have helped me realize what major is definitely catching my eye, will be watching more videos !!
@emmanjnatri7438 2 жыл бұрын
This is the ONLY accounting tutorial I've watched from beginning to end without sleeping halfway through😂. Great tutorial!!!
@AlibanjiGanji Жыл бұрын
So useful I've been studying business management at Swansea Uni for about 5 weeks now and I was really struggling with accounting but this video was a great and concise way of explaining the basics. Thank You
@ireneawa5179 Жыл бұрын
Started my MBA program and the accounting course gave me anxiety. This video is the best 14 minutes of my day so far. I am more confident that I can do this💪 Thank you so much
@accountsbalance 5 ай бұрын
Thank you for this accounting guide! This is a quite a very good summary of financial accounting basics! You did a good job making accounting concepts easier to understand. Definitely a must watch to those who want to learn accounting.
@theworkingbiblecollegestudent Жыл бұрын
These videos are a lifesaver. I’m in ACC213 and struggle with the exams, my college doesn’t have an accounting tutor and referred me to KZfaq, my own professor referred me to KZfaq and now I know why! These videos helps click everything in place. Thank you
@MuhammadWaseem-np7ly 2 жыл бұрын
3 semesters of accounting in one 14 minute video....🤯🤯🤯 God bless you brother ❤️
@ericajieun Ай бұрын
I come from a theory and analysis humanities background, and now work a typical office job. Have always steered clear of anything that sounds like too much math. I needed something stimulating and challenging, but felt stuck…as if I was losing brain cells. This video was like a massage for the brain. Thank you so much for this.
@AccountingStuff Ай бұрын
You're very welcome, glad you enjoyed it!
@mitchp4131 10 ай бұрын
I love that you break every technical term down to the definition
@irish5755 3 жыл бұрын
3:06 I just have to appreciate that... really. By saying "this guy" and "this book" and showing images instead, spares us the 'distraction' (and images are easier to remember than names, for me). Honestly I get easily distracted by years and names because I don't like memorizing but feel like I have to remember every little detail, and I start to stray from the main idea. So thanks James for keeping me on track of what I am really here for. And yeah I'm planning to watch the whole playlist. Thank you for all of these videos. I'm subscribing.
@AccountingStuff 3 жыл бұрын
Thanks! I didn't want to bore people with a history lesson :)
@BusinessBasics 3 жыл бұрын
Great channel! I'm an accountant myself and you explain the concepts really well. Videos are well designed and you just covered the accounting process in less than 15 minutes! I subbed; looking forward to some more videos.
@AccountingStuff 3 жыл бұрын
Thanks!
@austinmiller4505 Жыл бұрын
how is it going for you? I'm considering going to college for it
@twisteddrax 11 ай бұрын
bro taught me more than my lecturer did in 2 years and it him just 14mins
@carmenfraser-king1202 10 ай бұрын
The best and simplest explanation I've come across in video terms on KZfaq
@kennyjames9254 3 жыл бұрын
Just discovered your page, I feel so lucky to bump into your page.
@RIPkeekee 3 жыл бұрын
I needed a refresher for written exam. About 2 years after graduation, I haven’t looked at anything accounting in 2 years... This bought everything back to me... Great video
@AccountingStuff 3 жыл бұрын
Nice one! It's always helpful to return to the basics. Hope your exam goes well :)
@theth9033 2 жыл бұрын
I've said this to you before but you ROCK, No one else explains as well as you do, such plain clear without an ounce of patronizing. Thank you for your videos!!!
@AccountingStuff 2 жыл бұрын
Thanks for your kind words!
@carddealer34 16 күн бұрын
I am a cost accountant with the US Government, and every now and then, I love to dive back into the basics. And though I knew exactly where he is going, I loved answering what he was about to say. This is a great video on accounting.
@AccountingStuff 16 күн бұрын
Great to hear you enjoyed it!
@jaurellodragon1995 3 жыл бұрын
I'm a high school student in my senior year and I'm thinking of accounting as a bachelor's degree! Will binge watch ur videos. Great work! They're so informative
@AccountingStuff 3 жыл бұрын
No worries, best of luck with your studies!
@Anonymous_Anon882 Жыл бұрын
I’d advise you not to unless you want to specify as a chartered accountant specifically. If that’s not the case for you then you’ll probably have better luck going for something more interesting rather than spend at least four years stuck in a cycle of audit-and-entry monotony. The more humane/international side of the course has enough perks but everything else is just dull. Profitable (if that’s your future prospective career) but dull.
@xlifeofwai2024 3 жыл бұрын
I love that you make accounting sound simple and easy! It tricks my brain into thinking the same, even if is about to explode from information overload 😂😂 As an accounting noob I’m really glad I found your channel! Thank you 😊
@AccountingStuff 3 жыл бұрын
No worries, best of luck with your studies!
@debmclernon Жыл бұрын
I really don't like accounting but am studying an accounting unit for my degree at the moment. I thoroughly enjoyed your video. Great explanations!
@sheidakiani8911 3 жыл бұрын
Wow I haven't heard anything about accounting for five years, I'm really glad to see your channel, thanks a lot🌷
@reneevrs 2 жыл бұрын
I learned more in this 14-minute video than I have in my first two and a half weeks of a university accounting class I am taking. Thank you so much, you may have just saved me from failing this class!!
@jimmychong329 3 жыл бұрын
This, this is the single greatest review of financial accounting I've ever heard
@AccountingStuff 3 жыл бұрын
Cheers Brandon, I appreciate it :)
@MJJ07 2 жыл бұрын
Just got my first interview since graduating with my Accounting Degree. This is useful and thanks for the knowledge.
@At.home.in.the.catacombs 11 ай бұрын
You are legitimately helping me not fail my accounting class right now T-T You've explained this way better than my professor did.
@NickMcElhinny 3 жыл бұрын
YOU ACTUALLY MAKE IT MAKE SENSE. You just single-handedly (in 14 minutes) saved my midterm grade. AND NOW CLASS ACTUALLY MAKES SENSE. Thank you 100x, earned an extra subscriber.
@AccountingStuff 3 жыл бұрын
Cheers Nick! Happy I could help. All the best with your studies :)
@amalia4519 2 жыл бұрын
I love your teaching method, simple and easy to understand. On my journey to becoming a BookKeeper . Thank you very very much.
@mariabobik5404 Жыл бұрын
OMG This is so well produced---it's just absolute perfection!! Your voice, the sound quality- the content is SO ENGAGING! You really broke everything down to make it easily digestible. I want to learn with you and only you- lol. Keep these up!
@jeancynthinfante3836 Жыл бұрын
I love this, his way of sharing/teaching, it's not as complicated as other gurus out there.
@gothampartners888 2 жыл бұрын
Your videos are awesome. What I haven't understood in university and also the years after that is so clear now thanks to your videos. Hope you create more and also one on financial ratios as you mentioned in this video. Thank you!
@AccountingStuff 2 жыл бұрын
Thanks! I'm working on a whole Financial Ratios series :)
@mikedobson6067 3 жыл бұрын
Another very easy to follow accounting video - Big thumbs up! 👍👍Would be good to see a video on financial ratios when you get time!
@AccountingStuff 3 жыл бұрын
Cheers Mike! Yes I plan to cover them soon
@haggaimusonda3522 Ай бұрын
I’m an accounting major student and this video is worth watching. It’s really informative
@AccountingStuff Ай бұрын
Great to hear!
@UnknownvV 2 жыл бұрын
Two classes of accounting this semester got 95 percent in both but didn’t learn anything. I’m glad I found this so I can understand this better
@laurenkraft836 3 жыл бұрын
You just taught me more about financial accounting in less than 15 minutes than my college professor has in 3 weeks. Bless you.
@AccountingStuff 3 жыл бұрын
That's great to hear, hope it's making sense for you!
@FatiFati-qm5xs 3 жыл бұрын
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@FatiFati-qm5xs 3 жыл бұрын
kzfaq.info/get/bejne/n7N_g9iT0qvFoX0.html.
@FatiFati-qm5xs 3 жыл бұрын
kzfaq.info/get/bejne/n7N_g9iT0qvFoX0.html...
@pakovstheuniverse 3 жыл бұрын
James you genius!!! For the first time in 3 years i moved from a D- in accounting to a B+ and going on an A+ ending this year!!
@AccountingStuff 3 жыл бұрын
Congrats!!! That's all you
@pakovstheuniverse 3 жыл бұрын
@@AccountingStuff dont be modest bro if not u id be in the mud
@AccountingStuff 3 жыл бұрын
@@pakovstheuniverse Well cheers, I'm happy to help and it's great to see hear that you're doing so well
@ahmedshaikh2074 Жыл бұрын
Accounting is the most fascinating and a satisfying subject! I just love this subject and building a career based on it. Great video!!
@saddestdayever1276 2 жыл бұрын
Oh my god!! Your channel is the freaking best!! Thank you so much! As a struggling Intermediate Accounting 2 student, who didn't pay attention in Financial Accounting, your videos are so much appreciated!! Thank you!!
@henryfantoni3252 2 жыл бұрын
Your videos are amazing James! Well done on making them fun and interesting! They really help make things easier to understand! Looking forward to watching more!
@nickdez6954 3 жыл бұрын
Very helpful especially during these quarantine days. Thank you so much for this high valuable content.
@AccountingStuff 3 жыл бұрын
No worries Ney, hope you found it useful
@Anonymous_Anon882 Жыл бұрын
I bet you a lot of Accounting students who either ended up failing and repeating or graduating with a certificate they weren’t very happy with wish they’d stumbled across these resources in 2020. Lecturers are just fine at the best of times and online teaching should be a viable alternative 60% of the time (wherever students choose to live or pop in and out of) but what’s glaringly-obvious across the board is that lecturers weren’t prepared for online teaching and many students’ marks have suffered severely as a result (even the most intellectually-adept ones). I feel like everyone who was due to graduate during the pandemic or this year should’ve just been given a basic pass and possibly a higher grade depending on the quality of their dissertation/s (which carries more modular weight and lets people go off and do their own study/research independently and without group collaboration, since it’s their individual project/writing). I don’t think the situation this cohort of students have found themselves in since the tail-end of 2019 has been fair at all.
@GogglzMUSIC Жыл бұрын
I'm here cus I don't completely get it in school- but am actually genuinely interested in accounting, only four minutes in and I already understand so much more! 100% gonna reccomend my teacher shows this to the class.
@islombekqobilov4126 Жыл бұрын
THIS IS A REALLY INFORMATIVE AND BEST EXPLAINED CHANNEL THAT I'VE EVER SEEN IN OTHER CHANNEL
@munguryash5271 2 жыл бұрын
Your videos are so well made. Easy to understand and the editing is also on point.👌🏻👌🏻 I love financial accounting compared to management accounting which is a bit more difficult than financial accounting to be honest. Keep up the good work and congrats on 300k subscribers. 🎉👏
@AccountingStuff 2 жыл бұрын
Thanks!! I plan to make a bunch more of these
@deveshsoni98641 Жыл бұрын
No.1 vedio in Accounting across all over youtube...... Truly Recomandable very nice....
@juliacarter1280 Жыл бұрын
I'm glad I found your channel before I started as a freshmen in accounting this fall. I already have your document too lol. It really helps me understand everything I'm learning so far! You made it make sense lol
@emilianoalatorre771 9 ай бұрын
how is it going
@hunterpoulin6343 2 жыл бұрын
just went through a whole semester in 14 minutes I wish I discovered this sooner!
@Anonymous_Anon882 Жыл бұрын
I’m sure many people wish they’d stumbled across these resources just a tad sooner. I suppose it’s technically never too late but I can imagine a lot of students being pissed and demoralised at the way Accounting would’ve been taught (barely) over the past two years (especially during the heat of the pandemic). I don’t think people acknowledge that enough.
@rossrobinson102 Жыл бұрын
I'm begrudgingly having to learn accounting for some projects, because nobody else will do it. Thank you so much for making such informative and efficient educational videos. You're making this much less of a hassle than it could've been for me.
@alejasrealm4542 Жыл бұрын
Watching this so all things I learned in class come together in full circle.
@russellgray3303 11 күн бұрын
Thanks for the new video! I’m looking forward to seeing what other content you post! Always good to learn as much as you can!
@AccountingStuff 11 күн бұрын
You're very welcome. I'll keep posting new accounting tutorials, so stay tuned :)
@silaspeters5378 3 жыл бұрын
You literally just summed the past 3 weeks of my accounting course into one video. Respect: 100
@AccountingStuff 3 жыл бұрын
Cheers Silas! All the best with your studies
@nadeemkh100 3 жыл бұрын
Welcome Back James, We really miss your stuff bro.
@AccountingStuff 3 жыл бұрын
Thanks Nadeem, hope you're keeping safe & well!
@fredlyw1990 Жыл бұрын
Thank you . As an software engineer working closely with our accountants, I learned a lot from your tutorial video.
@wandz6448 3 жыл бұрын
Where have you been all my life? I'm so excited to have found you 😊. Thank you for this channel. Sending love from South Africa 🇿🇦❤
@cynicalsunshine2688 3 жыл бұрын
Hi James, I've been learning accounting and finding your accounting basics playlist an absolute life saver! I've been looking for a clear video on accounts and the types of accounts/what goes where. I haven't been able to find anything in your playlist just wondering if this is something you've covered at all? Thanks again for your amazing work. Best youtube educational videos without a doubt
@StannYo 3 жыл бұрын
Thanks ! I'd like to see a video on financial ratios. And one on dividend distribution.
@AccountingStuff 3 жыл бұрын
No problem! Thanks for your suggestions
@ayakasimp5429 Жыл бұрын
thank you so soooo much! I have taken STEM (Science and technology, Engineering and Mathematics) strand for my 11th to 12th grade since my school doesn't offer Business strand, which was my preferred one. I am definitely at a disadvantage among other students in my college since most took it. But watching your video was a greaaaat help especially for me that is new to accounting. Thank you sooo much!
@josemanueltapia7954 Жыл бұрын
I'm really glad I found your channel man, I work as an accountant here in Mexico and I really wish to expand my boundaries by learning US accounting. My goal in the near future is move to he US and see if I can pursue my degree over there, I really appreciate it!
@amandagilmore4363 3 жыл бұрын
I been inspired by your videos and started college to go into the field of accounting. However I am going into forensic accounting. Can you do a video on that or the differences of the fields? Your videos have been a big help an have been used in study guides as well as group discussion's in my college to help out a lot of us, thank you ♥️
@AccountingStuff 3 жыл бұрын
Hey Amanda, it's great to hear that you're going for forensic accounting. That field has always sounded interesting to me. Cheers for your suggestion, I'll keep it in mind for future vids! Best of luck with it all
@strawberrymoon1323 2 жыл бұрын
July 7, 2021 - I'll come back here again after 4 years after I graduate from Accounting. Im so excited!
@AccountingStuff 2 жыл бұрын
Best of luck with your studies!!!
@Mahnooraleem6 26 күн бұрын
All of my 5 years of accounting summed up👍🏻 The rest of it is just varying forms of accounts and trying to work out missing information, correcting errors, using ratios and assisting situations which call for informed decision-making. Accounting is all about how well you interpret the data given to you, and how well you end up presenting it.
@AccountingStuff 26 күн бұрын
Very true!
@felecia9129 Жыл бұрын
Your videos are highly useful! Thank you so much for sharing your knowledge in such an understandable way!
@alyzak.8997 3 жыл бұрын
Bless your heart, man. You are hands down the best accounting teacher I've ever had. Someone give this guy a trophy.
@AccountingStuff 3 жыл бұрын
Thanks Alyza, that's kind of you to say!
@AO-rq1ul 3 жыл бұрын
Your videos are by far the best in accounting and have always been super helpful, but have you considered doing videos on managerial accounting with things like job cost, process cost, abc system?
@AccountingStuff 3 жыл бұрын
Thank you! Yes, I'd like to cover managerial accounting at some point.
@josephinebardot8403 5 ай бұрын
I’m more than happy to discover this channel. I need to thank you for your time for this, particularly a fantastic watch!! I liked every little bit of it and I have subscribed you to look at new posts all the time.
@AccountingStuff 5 ай бұрын
Great to have you on board!
@LeneeVillagracia 2 жыл бұрын
I am fresh off the boat new to accounting and in that 14 minutes I have learned and understood a lot in that small amount of time. MINDBLOWN! THANK YOU SO MUCH!
@AccountingStuff 2 жыл бұрын
No problem, glad you found this useful!
@dallincandland 3 жыл бұрын
Wow this video is amazing! Thanks for making this. 💪🏻
@AccountingStuff 3 жыл бұрын
Thanks mate :)
@minhthai2804 3 жыл бұрын
thank you for your very condensed information
@AccountingStuff 3 жыл бұрын
You're welcome :)
@TheLeTea Жыл бұрын
Hi James, wanted to say thank you, because I didn't pass the exam but rather got a JOB thanks to your videos!!! God bless you and I wish you and your family a lot of health and happiness.
@helendsouza4430 Жыл бұрын
i started accounting degree 2 weeks ago i literally didnt understand anything but now after wathching this video i am starting to get the gist of it.
@anneakisanya5792 3 жыл бұрын
I would really love to see some videos that deal with accounting ratios. Thanks for all so far
@AccountingStuff 3 жыл бұрын
Hey Anne, cheers for getting back to me on this!
@arnezubeil4032 3 жыл бұрын
@@AccountingStuff I would welcome financial ratios as well. Especially debt to assets.
@joefish534 3 жыл бұрын
Great video - would be great to see more real-world (Quickbooks or other) examples of adjusting and closing entries
@AccountingStuff 3 жыл бұрын
Hey Joe, thanks for your suggestions! Much appreciated
@kieranbeach646 Жыл бұрын
The visuals make this video perfect for me, exactly what I was looking for. Subscribed 👍👍
@dead_protagonist 2 жыл бұрын
gonna rewatch this a couple times for it to sink in. thanks for taking the time to make this!
@landry.irambona 3 жыл бұрын
James, I can't go without commenting about this..🤔 This video sums up the basics in Accounting. You nailed it.👌And you made it so simple to understand for everybody, from students to professionals in and out of Accounting world👏👏 Congratulations James!! Keep up the great work😎👏
@AccountingStuff 3 жыл бұрын
Cheers Landry, I'm glad you enjoyed it! Thanks for your support
@agnieszkarychlewska6145 3 жыл бұрын
Hi, thank you for all what you do. You have helped me a lot during my AAT course. Are you planning to make a video about irrecoverable and doubtful debts? :)
@AccountingStuff 3 жыл бұрын
Hey Agnieszka, no worries I'm happy to help! Cheers for your suggestion
@4hannad603 2 жыл бұрын
Appreciate the whole playlist i'm in a accounting program and it really helps
@shubhamroy4519 3 жыл бұрын
Haven't found an explanation as good as this one! Kudos.
@AccountingStuff 3 жыл бұрын
Thanks for your kind words :)
@-gator4732 3 жыл бұрын
I have been struggling through Grad School Accounting Basics. I just haven’t been getting it. I have lost count how many I said, “well that makes sense! I get it now!” Thank you very much.
@rayzam.6913 3 жыл бұрын
At least I’m not the only grad student that feels this way. Lol
@AccountingStuff 3 жыл бұрын
No worries, it took a long time for all this to make sense for me too. Keep plugging away and you'll do great
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