T Accounts Explained SIMPLY (With 5 Examples)

  Рет қаралды 978,148

Accounting Stuff

Accounting Stuff

Күн бұрын

🆓T-Account Free Quiz → accountingstuff.com/blog/t-ac...
💥T-Account Cheat Sheet → accountingstuff.com/shop
🖊T-Account Practice Questions → accountingstuff.com/practice-...
Accounting Basics Lesson 3 - T Accounts Explained. This episode of Accounting Basics for Beginners will give you the full run down of how T Accounting works and why they are so useful in visualising accounts. T Accounting made easy is Accounting Basics Lesson 3 and will each you an easy way to learn T Accounting.
What is a T Account and why are they used? You'll get the answers to these questions in this video, along with 5 examples to help you understand T Accounting.
T Accounting made easy so you'll be able to use them in practice and get value out of them when studying accounting. Debits and Credits in a T Account don't have to be daunting. This video will show you the easy explanation of the T Account to help you with you studies.
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
01:03 - What is an Account?
01:13 - What is a T-Account?
01:35 - What is the General Ledger?
01:43 - What does a T-Account look like?
02:07 - Simple way to remember Debits and Credits
02:35 - How does a T-Account work?
03:59 - Why do we use T-Accounts?
04:30 - What is Double-Entry Bookkeeping?
05:12 - T-Account Examples and Solutions
10:04 - Recap
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DISCLAIMER
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Пікірлер: 1 600
@AccountingStuff
@AccountingStuff 4 ай бұрын
Thanks for watching! Please let me know if you have any video requests :) 🔗USEFUL LINKS ▪T-Account Cheat Sheet → accountingstuff.com/shop/t-accounts-cheat-sheet ▪Free T-Account Quiz → accountingstuff.com/blog/t-account-quiz ▪T-Account Practice Questions → accountingstuff.com/practice-questions/t-account-question-pack-1 ⏱TIMESTAMPS 00:00 - Intro 01:03 - What is an Account? 01:13 - What is a T-Account? 01:35 - What is the General Ledger? 01:43 - What does a T-Account look like? 02:07 - Simple way to remember Debits and Credits 02:35 - How does a T-Account work? 03:59 - Why do we use T-Accounts? 04:30 - What is Double-Entry Bookkeeping? 05:12 - T-Account Examples and Solutions 10:04 - Recap
@user-gf7jg8ir7i
@user-gf7jg8ir7i Ай бұрын
why new supplies are being on credit side? new supplies is an asset account when there is increase in an asset we debit the account i can see bill payment is a liability an increase in liability we will credit why not same for new supplies? why don't we debit the account ?
@makaylajelley2268
@makaylajelley2268 4 жыл бұрын
You literally explained what I needed to learn in my 3.5 hr accounting class in simply 11 mins 😭 I need your channel! Definitely subscribing !!🤓
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Thanks Makayla and cheers for the sub! Good luck in your Accounting class!
@ultralegendarybeast101
@ultralegendarybeast101 2 жыл бұрын
@@AccountingStuff :)) Greatness!!
@punktinskomatins6257
@punktinskomatins6257 2 жыл бұрын
Two years later, and people still have the same situation
@roslynpaige4442
@roslynpaige4442 11 ай бұрын
I know right!!!! online uni is kind of useless haha I am so grateful I found this channel!
@leeeezherisaac7685
@leeeezherisaac7685 6 ай бұрын
Same lol
@msikwe9667
@msikwe9667 5 жыл бұрын
THIS IS THE FIRST TIME IVE ENJOYED ACCOUNTING. OMG!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Haha, it's actually possible!
@ephyarhmilla9101
@ephyarhmilla9101 4 жыл бұрын
Yh yh Me too🥰
@harrisonma3137
@harrisonma3137 4 жыл бұрын
My online course teacher doesn't go into full detail so this is really helpful
@paperasmasmr8011
@paperasmasmr8011 3 жыл бұрын
Me too!!
@shanyingliew4509
@shanyingliew4509 3 жыл бұрын
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@babyjhudiel18
@babyjhudiel18 5 жыл бұрын
Didn't skip any ad. You deserve it for making quality content. 😊
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Haha, that's very kind of you!
@Janecas
@Janecas 3 жыл бұрын
I didn't know that it would be beneficial not to skip the adds, but did the same as indeed is well deserved!
@prelavpereira2998
@prelavpereira2998 3 жыл бұрын
My browser automatically skips ads :(
@angelinaguzman7665
@angelinaguzman7665 3 жыл бұрын
I didn’t know either, sitting through the ads now lol
@xxm0abxx5
@xxm0abxx5 3 жыл бұрын
It's better to work and donate to not waste your time. You'd probably have to watch 1000 ads to give him 5$
@DenmarkWeside4Life
@DenmarkWeside4Life 5 жыл бұрын
Was looking for a quick brush-up on the topic and stumbled across your videos. The sheer quality of production is amazing, you're great at conveying the topics and manage to do it in a very understandable way while still being entertaining. This is definitely a top-tier educational channel in many regards and I can see that you like doing it! I hope your channel blows up, you certainly deserve it. Cheers
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Hey Wiktor, thanks for the kind words! It's great to hear that you are finding the videos helpful. Cheers for the support, all the best!
@tiffanylourens3443
@tiffanylourens3443 4 жыл бұрын
I was struggling myself and asked many for an explanation. Thanks to you and the wonderful way you put it out... Finally getting grasps of this, Definitely assisting my with my GL to complete In an assignment. Loved the Dealer part....
@waliyatoyeniyi3541
@waliyatoyeniyi3541 3 жыл бұрын
I was told that every achievement begins with the decision to try . Ignorance destroys so many opportunities . I'm a victim but I was convinced by the right person i meet on instergram by God willing a man known as Mr Carlos @Carlos_1uptrades now i earn over $12,650 every week, I am just very happy and it feels like am the only one enjoying this although there are people still testifying about this man.
@1mol831
@1mol831 Жыл бұрын
Quality in yt usually is better than universities, as university lecturers don't need to compete like in yt in quality.
@siblinggoals5431
@siblinggoals5431 4 жыл бұрын
Being a little funny while studying is important,so not to get bored and you've done it.I like your lectures
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Thanks!
@aashayjoglekar591
@aashayjoglekar591 4 жыл бұрын
EXACTLY!!!
@jcarr3876
@jcarr3876 5 жыл бұрын
OMG accounting did not make sense until i saw your videos thanks brother. your awesome
@AccountingStuff
@AccountingStuff 5 жыл бұрын
No worries Jesus!
@ihavenohair1975
@ihavenohair1975 3 жыл бұрын
From a SOURCE (credit) to a DESTINATION (debit). I am getting it now, you have a great talent for teaching! Thank you for sharing your knowledge and gift
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Glad it's making sense!
@ashawhite1041
@ashawhite1041 8 ай бұрын
I learn better with analogies and this answered a great question for me.
@evanp.687
@evanp.687 4 жыл бұрын
Great video and examples! Thank you for not saying "this is a difficult concept" or "lots of people have difficulty with this" but saying that something can be "tricky" instead. Many people highlight the "difficulty" of a concept to the learner and discourage them before they even begin but you didn't, fantastic!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Thanks Evan and cheers for the feedback!
@BitterMonday
@BitterMonday 4 жыл бұрын
I can't thank you enough for making this high quality contents free for everyone
@AccountingStuff
@AccountingStuff 4 жыл бұрын
All good Fadil, hope it helps!
@MH-wu9tx
@MH-wu9tx 2 жыл бұрын
I have literally learned more in the space of 11 minutes than I have this whole year of uni. I have my Financial Accounting exam on Tuesday and this has completely cleared it all up for me after struggling with it for so long! Thank you!
@talosgak1236
@talosgak1236 3 ай бұрын
Bruh how have you been 1 year in Uni and not understood this topic. If people like you are my competition University is gonna be a breeze
@darrenkelly8989
@darrenkelly8989 4 жыл бұрын
Hey, I am studying for my university exams in accounting and I genuinely find these videos so helpful I use your videos more than I use my lecture's you have a gift for making this interesting. you're helping a lot of people better themselves thank you so much for this content.
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Hey Darren, thanks for your feedback! It's great to hear that you're finding the videos helpful. All the best with your uni exams!!
@nathanielfrank9118
@nathanielfrank9118 3 жыл бұрын
Its unreal this is free, I am learning the same things in a $250 textbook for school. Thanks!
@nnuyenc4133
@nnuyenc4133 2 жыл бұрын
True love his vid
@badongdejoestar1861
@badongdejoestar1861 3 жыл бұрын
This is exactly what my professor is teaching me. Love Accounting so much!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
That's great to hear! All the best in your studies :)
@DC-bq6uh
@DC-bq6uh 3 жыл бұрын
THANK YOU. SECOND YEAR BUSINESS ACCOUNTING STUDENT AND I WAS STRUGGLING BUT YOU GAVE ME HOPE OF PASSING ❤️💪🏾🎉
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Good luck good luck good luck!!!
@thugger5678
@thugger5678 4 жыл бұрын
its so Catchy and precise. After my exam, I am sending you a Glass Cleaner
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Haha, just what I've been looking for! Good luck with your exam!!
@osmacho
@osmacho 5 жыл бұрын
I really apreciate the effort you put into every detail of the videos. I don't recall watching any educational videos to be so well explained and VERY WELL edited. You definetly know how to make a video a lot more enjoyable to watch. Great job man! I love your videos!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks buddy that's kind of you to say!
@KDO12392
@KDO12392 2 жыл бұрын
Tonight was the first time I had ever came across your videos and I am forever thankful for that. Your videos are short but yet very informative and so easy to understand versus being in a class for 16 weeks. I just enrolled back in school and this videos was such a great refresher. Amazing job, please don't stop!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Do you find T Accounts useful? I still sometimes find myself writing these down from time to time
@728hannah
@728hannah 5 жыл бұрын
thank you so much :)
@33fivers
@33fivers 5 жыл бұрын
James, first of let me extend a big thank you for the way you breakdown these accounting topics. It is helping me a great deal with my accounting class. Is it possible that you can do an accounting topic on Reporting and Interpreting Property, Natural Resources and Intangibles.
@AccountingStuff
@AccountingStuff 5 жыл бұрын
@@728hannah No problem!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
@@33fivers Hey mate, you are very welcome! Thanks for watching and cheers for the suggestion. I will bear that in mind when making future videos :)
@nectorfarid3924
@nectorfarid3924 4 жыл бұрын
thanks man great work you got yourself a new subscriber + viewer
@RQuiaios
@RQuiaios 3 жыл бұрын
This type of content does not get the deserved recognition! I can say with 100% certainty that you have the best accounting channel on youtube. Massive respect to you, your take to this subject is simple and effective, and even though it does not substitute the classes or the practice for an exam at least it encourages (me and other students) to give it a go and start. Thank you so much for making it easier! And keep up with the content
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Thanks buddy! All the best with your studies :)
@adrianhearle2076
@adrianhearle2076 5 жыл бұрын
I had always wondered what double-entry bookkeeping and this provides a simple explanation and example. Excellent
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Cheers Adrian :)
@ZSD123ABC
@ZSD123ABC 5 жыл бұрын
the production quality is to good for the subject
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks Sam!
@s4motivationalsgroup188
@s4motivationalsgroup188 5 жыл бұрын
@@AccountingStuff way
@s4motivationalsgroup188
@s4motivationalsgroup188 5 жыл бұрын
Way
@KatTietz
@KatTietz 3 жыл бұрын
I'm in a managerial accounting course as part of my MS in Business Information Technology. Balancing a full-time job and a fast-paced accounting course during COVID and it's many challenges has been... difficult. I found this video very helpful, and I have a found your other videos very helpful as well. Keep up the great work!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Cheers Kathryn, all the best!
@GREEN-SILVERSTREAMOFLIGHT
@GREEN-SILVERSTREAMOFLIGHT Жыл бұрын
@@AccountingStuff
@chrisolunga6628
@chrisolunga6628 Жыл бұрын
I have an accounting exam tomorrow and I stumbled across your videos. I genuinely thank you for helping me understand what I've been trying to get from my lectures in just a few minutes of watching your videos
@JasonSmith-xl9wd
@JasonSmith-xl9wd 2 жыл бұрын
I have watched about a dozen of your videos, and I want to say thank you. These are all well-produced, time-saving, and informative, not to mention a little funny. Keep up the great work!
@Oldag75
@Oldag75 4 жыл бұрын
I strongly recommend employing T-account visual analysis from the very beginning when learning accounting. And continuing that practice for the following, oh, 45 years of closing the books.
@hunterbunter7841
@hunterbunter7841 5 жыл бұрын
James, thank you for breaking this down in such a simple way for us non-accounting folks. Great video!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Hey Hunter, no worries at all!
@GirlArmy21
@GirlArmy21 2 жыл бұрын
Trying to learn 4 months of account in a couple hours/days. Your channel is a godsend. Learning so much. Easy to follow explanations.
@TerriCarey
@TerriCarey Жыл бұрын
I am taking Accounting as an online class, and these videos are SO MUCH MORE HELPFUL than the text and documents provided by the professor.
@dsgant1616
@dsgant1616 3 жыл бұрын
As many before me have said, the format and content you offer here is top notch and I’m just blown away by how much clearer it all is after watching a couple of your videos. My accounting professor is good, but she doesn’t hold a candle to your teaching. I’m excited to get through many more :)
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Cheers! Great to hear that accounting is clicking for you. All the best with your studies!
@thebluefrog951
@thebluefrog951 5 жыл бұрын
I got the T-Account exercise 100% right on first try! Thank you for your videos. You are making this stuff so much easier to learn than anything in my class.
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Nice one!! Great to hear the you smashed the examples!
@eveiregalo408
@eveiregalo408 Жыл бұрын
I just cant express my APPRECIATION FOR YOU SHARING YOUR KNOWLEDGE. THANK YOU! I already watched the accounting equation, journal entries, and now this one. THANK YOU!
@MicahSlavens
@MicahSlavens Жыл бұрын
I'm doing an executive MBA and needed this so much. Thanks for explaining things so clearly!
@lindaoulton7549
@lindaoulton7549 5 жыл бұрын
James!!! I love your videos. I'm a tutor and keeping those students awake and excited can be tricky but the enthusiasm, quality of production and clearness of explanation in your videos is excellent. I'm so glad I've found your channel and I'll be using and promoting it whereever I can.
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks Linda, that would be much appreciated! It's great to hear that you are enjoying the videos.
@rajisubramanium7342
@rajisubramanium7342 4 жыл бұрын
Thank you James. You have made it so simple that even a person like me with no accounting background could understand so well. Excellent job done !!!!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
No worries Raji, great to hear it's making sense!
@abdullahamir2940
@abdullahamir2940 Жыл бұрын
why this man doesnt have a million subscribers? he is the guru for sure. So many teachers taught me accounting, none of them even close to you !!
@pameladatan
@pameladatan 2 жыл бұрын
I am a college freshman in B.S. Accountancy and I could say that your videos helped me a lot especially in understanding the basics and of course for advance studying. I learned a lot and I definitely subscribed the first time I watched one of your vids. Thank you, James!
@mariaimam2685
@mariaimam2685 5 жыл бұрын
Best accounting channel on KZfaq
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks Maria! 🙏
@shivangijoshi8803
@shivangijoshi8803 4 жыл бұрын
My 1st ever accounting tutorial online, and I've found the best channel that explains the ACCOUNTING STUFF so easily! Also, I love your deep blue eyes! Also I loved the way you actually had tea in between. haha. keep up the good work and thanks for making accounts so easy and fun for non-math background people like me! Lots of Love from INDIA.
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Thanks Shivangi!
@infinity.1111
@infinity.1111 Жыл бұрын
the great part is that by the time you asked "is your head hurting yet?" you had already explained it so well that everything was making perfect sense. Thank you very much, so much easier watching your video that trying to learn this concept from the textbook. I appreciate the help!
@ponnarasukrish9318
@ponnarasukrish9318 3 жыл бұрын
I have searched and seen so many videos on understanding debit and credit... This was the best. This doesn't stop at asking the viewers to remember the golden rules , but clearly explains the basics of those rules... The quirkiness of the video makes learning fun. Much appreciated. More power to you
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Thanks Ponnarasu, I'm happy you enjoyed it!
@rlc529
@rlc529 4 жыл бұрын
I have a 2 hr and 45 min accounting class and I’ve learned more here than in that class the whole semester😭
@mdf3605
@mdf3605 3 жыл бұрын
u were sent from heaven to make mortals like me- understand finance easily. "Saint" Accounting Stuff- thank you for existing!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Thanks buddy :)
@bakedmac4723
@bakedmac4723 5 ай бұрын
I'm here because: - I like how easy to understand your content about basic accounting. - I like those trivia quizzes you gave. it helps me remember important points in handling transactions. - lastly, I'm an aspiring bookkeeper and wanted to gain knowledge so I can start my freelancing journey by next year. thank you! you deserve a sub! ❤
@AccountingStuff
@AccountingStuff 5 ай бұрын
Thanks, it's great to have you on board! I appreciate your feedback :)
@aishausman4261
@aishausman4261 Жыл бұрын
I skipped my accounting class actually I was really worried about that lecture but he explained it very well no words explain how helpful it was May God bless this man he is helping so many people
@mhm1672
@mhm1672 4 жыл бұрын
Keep it up bro! I enjoyed watching every minute of this video, plus it actually helped. And yes T-Accounts are very useful in my opinion, cz I am studying for my FAR CPA exam and as I noticed, complicated questions can't be solved without mastering the basics of accounting such as T-Accounts and debits and credits. It really simplifies things and makes it easier to understand and answer correctly.
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Cheers, it's great to hear that you enjoyed the video. Yes, T-Accounts are so helpful!
@TheMandolinn222
@TheMandolinn222 3 жыл бұрын
I'm so glad I found you. I'm SO confused by accounting and I have to pass this course in order to fulfill my Graduate degree in Environmental Sciences. You make things really easy to understand and enjoyable to learn about, thank you so much. I'm still really unclear however; on why debits & credits in the T-account and otherwise mean what they do - it seems counter-intuitive to call an asset a debit, and call a liability a credit, when I'm credited money back into my account, it means I am getting money back, but when I use my debit card to purchase something, I'm less that amount of money, why is it opposite in accounting? Should I just try and make sure I am recording opposite of what my intuition says? ahhh I feel so confused.
@AccountingStuff
@AccountingStuff 3 жыл бұрын
I used to get confused by this as well! I'd recommend watching this to clear things up... kzfaq.info/get/bejne/msqSaZiD2sqrmWQ.html
@yomyomcam
@yomyomcam 2 жыл бұрын
Finally an explanation that actually makes sense, thanks a lot for sharing!
@joshnethken7228
@joshnethken7228 5 жыл бұрын
Needed a refresher for my summer Accounting II class that is absolutely brutal and only 8 weeks long. You're a life saver man, thanks so much! The quality of these videos is fantastic, it makes a boring subject so much more digestible and fun.
@AccountingStuff
@AccountingStuff 5 жыл бұрын
No worries mate, all the best for Accounting II !
@emmyayt
@emmyayt 4 жыл бұрын
😭 Your channel really did save me for my accounting class, I was so confused but I have a bit of a handle now thanks to these vids.
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Best of luck with it!
@amaljeeson3786
@amaljeeson3786 5 жыл бұрын
Eagerly waiting for your next video.....
@AccountingStuff
@AccountingStuff 5 жыл бұрын
It will be up shortly :)
@maikelmarante8394
@maikelmarante8394 5 жыл бұрын
Hey mate, just wanted to extend my thanks for these videos. You have literally turned my current licensure class of Business and Finance (For the purpose of becoming a contractor later on) enjoyable and so much easier to comprehend. Keep on!
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Hey Maikel, that's great to hear! Thanks and all the best!!
@abbywarren3293
@abbywarren3293 Жыл бұрын
You’ve explained this in the most perfect way, I have my level 3 AAT exam coming up and this has absolutely saved me. Subscribed✅
@nicolaigamesftw693
@nicolaigamesftw693 4 жыл бұрын
😲 You are very helpful and i would like to thank you for your knowledge I hope you succeed in your dreams because you really helped me build mine. Cheers 👍😌
@AccountingStuff
@AccountingStuff 4 жыл бұрын
No worries Nicolai, glad I could help! All the best!!
@olugbenrosamuel
@olugbenrosamuel Жыл бұрын
Thank you, James. I learned a great deal in this 11 minutes, 7 seconds tutorial. This is the best explanation I have gotten on Debit and Credit. I have read through the comments below, and none is an exaggeration. They are totally correct.
@freddielo4330
@freddielo4330 Жыл бұрын
I majored in materials science and engineering, And I now starts my music production business, and start learning accounting for the first time. This is the only level I can understand. Thank you for making these basic videos, all of these are foreign concepts for me, and visualizing in this way is really helpful.
@nancyseruya7792
@nancyseruya7792 3 жыл бұрын
his voice is so upbeat that i am actually starting to understand
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Glad it's starting to click for you. All the best!
@benjaminvalenciano9012
@benjaminvalenciano9012 5 жыл бұрын
Hey this was the first thing I learned freshman year in high school. Neat
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks Benjamin!
@mitchellmitchell6938
@mitchellmitchell6938 5 жыл бұрын
Damn. Good stuff! What kind of high school did you go to??
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks Uilium
@laurenmullaly5764
@laurenmullaly5764 3 жыл бұрын
THANK YOU! I never comment on videos but I hope you get all the engagement! This series is exceptional and did more to help me in 12 minutes than reading my textbook for an hour did. Very thankful.
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Thanks Lauren! Great to hear you're finding these helpful
@jlei1995
@jlei1995 2 жыл бұрын
I wish my school had teachers like you. My teacher is so awful, she is making me hate my major. She spends 3 hours going over a topic without making sense and all it took for me to understand, was a small 11 minute video. You make it seem so simple. I'm totally going to pass this class with your help. Thank you, you have saved me so many headaches. My teacher makes this look so complicated and she gets upset when we ask questions. I will just come back here and watch all your videos to learn. Thank you!
@sethers775
@sethers775 3 жыл бұрын
I basically tossed out my textbook and binged these to get through my accounting class.
@shubhadeepdas7191
@shubhadeepdas7191 5 жыл бұрын
Nice👍👍👍
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Thanks!
@whenindoubtfindout125
@whenindoubtfindout125 2 жыл бұрын
Beyond Helpful! You explained these concepts with more detail and clarity than my current bookkeeping course! Many Thanks! 🙌
@akatinahat1148
@akatinahat1148 Жыл бұрын
Hey! Just came across your channel.. can't tell you how much I appreciate the content. I'm doing an online course and I've been struggling, thinking constantly why the bloody hell did i think i could do this online,lol.. You've given me hope so THANK YOU!
@travelwithrishi7121
@travelwithrishi7121 4 жыл бұрын
Thank you for this amazing video; as a high school student starting my undergrad studies in finance, this has really helped me a lot. However, I have a question, with regards to @8:29 when you credited $50 to the accounts payable account, can we not combine it with the loans payable account and simply call them Liability account? Because either way it is still being credited with $50 so all in all, the $200 and $50 are still on the right side of the 'Liability' account. Doing this way will reduce the number of accounts and thus make it less messy. Hope my query makes sense haha
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Cheers, I'm glad you found this useful! To answer your question... we keep Accounts Payable & Loans Payable separate because they contain different types of transactions. Whilst this may lead to more accounts, it helps to keep things organised. You've got to imagine that big business's contain thousands of different transactions, so it's important to keep things granular
@devranamaratungakaraca8034
@devranamaratungakaraca8034 5 жыл бұрын
Sick 🙌
@AccountingStuff
@AccountingStuff 5 жыл бұрын
Haha, thanks Dev!
@xmillion242
@xmillion242 3 жыл бұрын
im sick too
@philippabaker9069
@philippabaker9069 3 жыл бұрын
This is great. I'm dyslexic and have spent the past year wading through books with limited success. This has clarified things. What a skill you have for making a complicated and daunting topic understandable and enjoyable! thank you
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Hey Philippa, I'm dyslexic too! Sometimes it helps to see things visually laid out instead for reading the information
@dennisbett3540
@dennisbett3540 Жыл бұрын
Excellent delivery!
@melindavives5826
@melindavives5826 4 жыл бұрын
Make a video about contra accounts. Love your video! You teach it better than any professor I had.
@joncolinas5609
@joncolinas5609 3 жыл бұрын
I would have preferred if those "T accounts" were in a form of "Accounting Equation": Assets = Liabilities + Stockholder's Equity. Then, all the transactions affecting cash are placed under Assets in the Accounting Equation. Then, all transactions affecting Liabilities are placed under Liabilities account in the Accounting Equation. Then all Capital accounts transactions like Common stock, Dividends, Revenue and Expenses are placed under the Stockholder's Equity in the Accounting Equation. This way, students will learn and know that Dividends and Expenses are Stock holder's equity accounts and at the same time reduce Stockholder's Equity. ASSETS = LIABILITIES + STOCKHOLDER'S EQUITY
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Good point, thanks for your feedback!
@hedwigraphael
@hedwigraphael 2 жыл бұрын
You explain these thing so well and the editing is on point! It's so nice to watch these videos and actually understand nearly everything.
@AccountingStuff
@AccountingStuff 2 жыл бұрын
Thanks for your kind words!
@iamfabgirl7820
@iamfabgirl7820 Жыл бұрын
I earlier was thinking to drop accounting but I found your channel! Its truly a blessing!
@workacc5270
@workacc5270 5 жыл бұрын
Your account is gonna explode soon
@AccountingStuff
@AccountingStuff 5 жыл бұрын
That would awesome, thanks for the support!
@spamsamwabam
@spamsamwabam 4 жыл бұрын
Just started my CA and needed a refresher on t-accounts for Cash Flow statements. You managed to squeeze a 3 hr lecture into 10 mins haha love it!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
No worries Samantha! Not sure if you've seen this one yet... but I have a whole video on T-Accounts for Cash Flow Statements → kzfaq.info/get/bejne/gbWCZJOHtdndf2w.html All the best with your CA!
@michaelaryeetey5064
@michaelaryeetey5064 4 жыл бұрын
Great learning. Easy to follow. Thanks
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Cheers Michael
@jolenealley4877
@jolenealley4877 Жыл бұрын
I have my high school Accounting students use T-charts on every assignment possible. It helps so much! Thanks for your videos :)
@Moni-wd3cf
@Moni-wd3cf 2 жыл бұрын
Thank you!! Very helpful. Watching all your vids
@AccountingStuff
@AccountingStuff 2 жыл бұрын
No problem, best of luck with your studies!
@lamongoose6813
@lamongoose6813 7 ай бұрын
This is honestly my favourite youtube channel. I have learned so much within the month i've been watching your videos. I hope you never stop posting about accounting because i'll never stop watching. This channel also single handedly passed me an accounting exam too!!
@AccountingStuff
@AccountingStuff 7 ай бұрын
Congrats on passing, that's great to hear!
@user-ff7wf9dr1i
@user-ff7wf9dr1i Жыл бұрын
These videos are helping me so much as a beginner who relies on computer programs to think for me who is now taking an accounting class!!!
@Rose-jz7xg
@Rose-jz7xg 2 жыл бұрын
Just started accounting ,this was extremely helpful !
@matthewaustin8510
@matthewaustin8510 2 жыл бұрын
Very helpful video. Thanks!
@JH-xg1fh
@JH-xg1fh 3 жыл бұрын
D+E+A=L+E+R is a game changer. Seriously helpful stuff. Thank you.
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Cheers Joe, may DEALER serve you well!
@maxmuranov8764
@maxmuranov8764 10 ай бұрын
brilliant explanation, thank you!!
@nidiamercedes1977
@nidiamercedes1977 2 жыл бұрын
This was great! Good job!
@AccountingStuff
@AccountingStuff 2 жыл бұрын
Glad you think so!
@yelleks3085
@yelleks3085 Жыл бұрын
This 11 minute video explained what Kaplan couldn't in 1000+ pages. Thank you
@kwonsunghun420
@kwonsunghun420 2 жыл бұрын
I had to skip my university for 2 years due to the military and your videos really helped me catch up to my class. Thanks a lot!
@AccountingStuff
@AccountingStuff 2 жыл бұрын
No problem :)
@daniellaleblanc6533
@daniellaleblanc6533 3 жыл бұрын
I have been struggling in my accounting class and a classmate posted this video. All I can say is thank you for helping this week’s lesson make sense in a short video. I am following to use these for the rest of my class!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
Hey Daniella, I'm happy to hear the video helped. All the best with your studies!
@kanzashamim3573
@kanzashamim3573 3 жыл бұрын
EVERYTHING WENT STRAIGHT INTO MY HEAD , FINNNNALLY I KNOW T ACCOUNTS ...THANKS ALOT
@ChrisStrompolos
@ChrisStrompolos 4 жыл бұрын
EXCELLENT videos! Extremely well-done!
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Cheers Chris!
@Luke-kv9di
@Luke-kv9di 4 жыл бұрын
Nice vid, I enjoyed the production quality and the good examples.
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Cheers Luke :)
@romaysaayman11
@romaysaayman11 4 жыл бұрын
These video are amazing. The quality of the production & information is fabulous.
@AccountingStuff
@AccountingStuff 4 жыл бұрын
Cheers Romay!!
@sogden2111
@sogden2111 2 жыл бұрын
Thanks! Your explanation was was well grasped. Much appreciated.
@AccountingStuff
@AccountingStuff 2 жыл бұрын
No worries, all the best!
@user-ro9cv4sl4n
@user-ro9cv4sl4n 8 ай бұрын
Your DEALER concept is a game changer! Thank you for sharing this, it makes a lot more sense now.
@AccountingStuff
@AccountingStuff 8 ай бұрын
Glad you're finding it useful!
@soulcake76
@soulcake76 3 жыл бұрын
Dude, now I totally get T accounts-you made it so easy to understand! This will be my 3rd attempt to pass accounting and now I’m confident! Thank you!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
I believe in you! Good luck!!
@litlwabit
@litlwabit 3 жыл бұрын
I am new to accounting, as in I am taking an Office Accounting course to complete my degree in Professional Office Management. I am finding myself fascinated by your presentations. Thank you for making this seem easier than it appeared when I looked at my online accounting course materials (they are quite daunting). I will be watching the rest of the videos in your series to make sure I don't miss a single, extremely valuable piece of information! Cheers!
@AccountingStuff
@AccountingStuff 3 жыл бұрын
No worries, best of luck in your course!
@bcirnigliaro5769
@bcirnigliaro5769 2 жыл бұрын
sir you literally explained what I didnt understand from my accounting class from the first three weeks in 10 mins, thank you so much omg
@jodiecolbeck7568
@jodiecolbeck7568 3 жыл бұрын
You're a brilliant teacher, straight to the point with no unnecessary rambling lol. Thanks, amazing videos.
@AccountingStuff
@AccountingStuff 3 жыл бұрын
No worries Jodie, I'm happy to help!
@abrahamillescas8989
@abrahamillescas8989 2 жыл бұрын
I'm a fresh beginner accounting student, this surely will help me a lot during my preparation summarizing all the crucial information while I'm studying rather than read thoroghly extensive passages in thick books, cheers
@wolfwinter6143
@wolfwinter6143 2 жыл бұрын
ahh ur such a legend bro so comprehensive I couldn't get what the teacher was teaching and I learnt all of it here in 11 mins cheers mate.
@TheWiscoKid
@TheWiscoKid Жыл бұрын
Thanks for putting out this content!
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