The BALANCE SHEET for BEGINNERS (Full Example)

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The 'Balance Sheet', or 'Statement of Financial Position' (SOFP) is one of the three major Financial Statements, along with the Income Statement and the Statement of Cash Flows. In this tutorial, you'll learn what a Balance Sheet is and I'll show you how to build one using a Trial Balance.

⏱️TIMESTAMPS
00:00 - Intro
00:17 - Balance Sheet Definition
00:33 - What is a Basic Balance Sheet?
01:15 - What is a Detailed Balance Sheet?
02:18 - How to Make a Basic Balance Sheet
05:11 - How to Make a Detailed Balance Sheet

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⏱️TIMESTAMPS
00:00 - Intro
00:17 - Balance Sheet Definition
00:33 - What is a Basic Balance Sheet?
01:15 - What is a Detailed Balance Sheet?
02:18 - How to Make a Basic Balance Sheet
05:11 - How to Make a Detailed Balance Sheet

AccountingStuff
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Just wanted to say THANK YOU, a year ago I got a job because of you, as one of your videos ended-up having all the answers to the questions the interviewer asked me : D. I laughed inside during the interview as I said " this guy saved my a**"

magdalenacruz
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Literally the best teacher ever - thank you so much for all the support

patrickjohnson
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Can you teach professor's how to teach?

animalstales
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You genuinely breathe life into your educational accounting content. It can be a pretty dry subject to teach and learn, but you have found the secret to making it exciting and easy to learn. Great job!

FreyaStark
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Damn, literally explained everything I needed to know about balance sheets in a 7 min video, better than my uni lecturer did in 1.5 hours. Engaging, clear and concise!!! 10/10 from me. :)

RabbitohsSupporter
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you helped me more than what I am being taught at university, making it so simple and straight forward. Thank you so much!!

catherinecalavrias
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Greatest teacher in world.
Learnt more in this video than I did in 4 months from my teacher.
Much appreciated!

nolanreddy
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I will be taking Accounting this spring for my MBA here in Canada and your teachings have been absolutely brilliant. I am certain to have the best result!!

phowops
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wow you are the best teacher ever !!!! thank you !!!!

soledadgimenez
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My best teacher ever. You make accounting simple. Thank you so much.

tebogosetlhoka
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literally have a financial accounting exam in a few hours and this was helpful! Thank youuu

satisfyingsauce
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James! Your videos are one of the most useful things in learning accounting! They have helped me a lot and I am very grateful for your channel!
I wish all the bests to you! I hope this channel booms in popularity as anyone needs some basic accounting info to be financially literate!

emilyb
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Your videoes are life-saving. Also thanks for your book suggestion "The Accounting Game" which I enjoyed reading. It helped me a lot to with the basics.

sinahajiazizi
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Great job!!! Clear, concise and engaging. Will definitely recommend.

theschoolofafricanlanguage
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Your teaching methods are so simple and clear .. You are simply amazing !!!

alexandervalladares
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I enjoyed this so much. I am transitioning from Human Resources to Accounting and Finance. This has really helped with my understanding.

abosedetowoju
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Im currently doing a Bachelor of Commerce (majoring in accounting and Corpfin) in Aus and I wanted to say that your videos are really helping me get through... you make such a dry subject more understandable and enjoyable! The visual learning really assists those like me who suck at auditory learning! Thank you so so much!

coolbeans
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you dont understand how much I appreciate this video. Thank you.

abenezerhabeshawi
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This guy deserve a million subscribers or atleast half a million. No kidding because he explain everything clearly and briefly. Keep it up

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