The KEY to Understanding Financial Statements

In this video I'll share the key to understanding Financial Statements. You'll learn the relationship between the Balance Sheet and the Accounting Equation, and where the Income Statement fits into the big picture of Accounting.

🎬LEARN ACCOUNTING BASICS FOR FREE

⏱️TIMESTAMPS
00:00 - Intro
00:16 - Financial Statements Definition
00:35 - The Accounting Equation
01:16 - The Balance Sheet
02:16 - What is Equity made up of?
02:29 - Capital Contributions Definition
02:47 - Retained Earnings Definition
03:03 - Profit Definition
03:27 - What are Retained Earnings made up of?
03:50 - The Expanded Accounting Equation
05:08 - The Link between the Balance Sheet and the Income Statement
05:57 - Outro

🔎FAQ

🔝 CLOUD ACCOUNTING SOFTWARE

🚶FOLLOW ME ON

________________________
DISCLAIMER

Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
________________________

#accounting #financialstatements #accountingstuff

[raper]

This might be my last accounting paper tomorrow as I'm dropping the subject next year, accounting never was for me and I was forced to take it. Although through all papers you were there to help me understand. So if this is the last time I see one of your videos, thank you from the bottom of my heart ♥️

[MidtownJack]

Not the hero we deserved, but the hero we needed. Keep making these grade saving videos my man 🙌

[siphesihlentuli]

Imagine having James as your accounting lecturer 🎓

[Jack-ilyu]

Your videos have a knack for coming right when I need them, which makes them even better!

[carubinkumarsarkar]

Being in accounting since 2017, I can say this is the best & crisp video on this topic
Keep up the good work...

[sveng]

I have a class tomorrow and this totally saved my life! Thank you James! <3

[collincox]

Hi James,
You're a real one.
I'm a Business Admin major and am taking an Accounting course this semester. I find the textbook to be really dense, uninteresting, and as a consequence, hard to follow. You have made learning accounting so much easier and much more enjoyable. Thank you!

[niloykarmaker]

You are LIFE SAVER an exam tomorrow.

Also after a long time. Remember me?

[areen]

I don't think you'll ever get a teacher like this, be grateful he started uploading on Youtube!

[jennymulhall]

I wanted to thank you, James. I got into ATI Year 2 thanks to your videos. I told my whole class about DEALER and your channel. Thank you! x

[boxovitch]

Thanks to your videos I’m studying to be an accountant. I would like to see a video on present and future value as well as a video explaining annuity. Keep doing what you’re doing and thanks for all the helpful content!

[michellehightower]

I seriously can’t thank you enough for your videos! I am a healthcare professional working on my MBA in healthcare administration, and I am NOT a numbers person. I was so lost reading through my textbook, but your videos have made a huge difference! I feel confident that I can pass my course now.

[KyleJacob]

These videos are seriously helping me. Since my professor loves you and is the one that recommended these videos and does every week, he doesnt mind that I chime in occasionally during his lectures to explain parts myself bc i had learned from these videos. For real love these!!

[kellieselway]

Your videos are pure GOLD. Going through my exams now and I cannot begin to tell you how much your videos have helped me. You articulate your words so well and explain everything so clearly. Pleaaase, keep it up! <3

[niko-nips]

Ur channel are wonderfully underrated. I could feel dedication that uve done in this video

[mdf]

you were born to do this- AMAZING, James. thank you!

[ericvedwards]

This is amazing! I'm taking accounting for the first time ever and your videos are extremely helpful!!!! Thank you so much for the cheat sheet. This week my lesson is on balance sheets and income statements so this is perfect! Thank you again. I've actually told a few of my friends about this as well. :) Cheers!

[kirstygascoigne]

I wish I had found you 6 months ago! Brilliant, thank you

[AlignacademyTV]

Hey James

I appreciate how you break down accounting principles for non-accountants like some of us

Please keep up the great work!

[steevphiri]

You make account understandable. . Thanks the your work