Accounting Terms - INCOME & EXPENSE Explained
लेखांकन शब्दावली - आय और व्यय की व्याख्या
অ্যাকাউন্টিং শর্তাবলী - আয় এবং ব্যয় ব্যাখ্যা করা হয়েছে
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In this beginner-friendly accounting tutorial, we delve into the crucial concepts of income and expense in the context of 2024. Understanding these terms is essential for anyone looking to manage their finances effectively. By the end of this video, you will have a clear grasp of how income and expense are recorded and their significance in financial statements. Stay tuned to demystify accounting jargon and gain the knowledge you need to make informed financial decisions in the future.
In this video, we delve into the fundamental concepts of income and expense in accounting. Learn the definitions of these terms, how they are recorded, and why they are crucial for understanding the financial health of a business. Whether you're a beginner or looking to refresh your knowledge, this explanation will help you grasp these key accounting terms with ease. Watch now to enhance your understanding of income and expense in the world of finance! . . #Accounting #IncomeAndExpense #accounting #financialaccounting #accountancy #accountingterms #basicaccounting #finance101 #basicaccountingterms #basicaccounts #financialeducation #accounts #account #accountant #financialeducation #financialwellness #financialempowerment #financialtransformation #financialadvisor #financialgoals #financialindependence #financialliteracy #personalfinance #financialfreedom #financialplanning #FinancialEducation #BusinessFinance #justtry #accofinavenueswithAnuradhaSahaPHD #class11accountsinenglish
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What is Income?
Income is the sum of money received by a person or business in exchange for delivering a good or service.
What is Expense?
Expense is defined as the amount paid by a trader on any thing in order to benefit from it.
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Your Queries:-
What is Income?
Define Income.
What is Gross Income?
What is Net Income?
What is Expense?
Define Expense.
What is Revenue Expenditure?
What is Capital Expenditure?
Chapters:-
0:00 Introduction
0:40 What is Income?
1:24 What is Gross Income and Net Income?
2:51 What is Expense?
3:29 Classification of Expenses.
4:18 Examples of Expenses
5:33 Conclusion