The BALANCE SHEET for BEGINNERS (Full Example)

💥Balance Sheet Cheat Sheet → accountingstuff.com/shop
🖊Balance Sheet Practice Questions → accountingstuff.com/practice-...
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.
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️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
🔗VIDEO LINKS
▪ Income Statement → • The INCOME STATEMENT f...
▪ Balance Sheet → • The BALANCE SHEET for ...
▪ Cash Flow Statement → • The CASH FLOW STATEMEN...
▪ Book Review → • The Accounting Game - ...
🔝 CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → geni.us/bNN7
▪ Xero (FREE TRIAL) → xeroamericas.grsm.io/ck90eoq1...
🔎FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
🚶FOLLOW ME ON
▪ Instagram → / accountingstuff
▪ TikTok → / accounting_stuff
▪ Facebook → / thisisaccountingstuff
🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → • ACCOUNTING BASICS for ...
________________________
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 #accountingstuff

[@AccountingStuff]

⏱️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

[@jamongjuice]

seriously, you are my new favorite channel on youtube. can't thank you enough for all the time and effort you put into this channel!

[@estershimwafeni9083]

Thanks

[@aprilannomega]

i have quetions please :) how do you get retained earnings values: 19700

[@NasraAhmed-kl4gx]

Teacher how can I withrow my cash?

[@animalstales867]

Can you teach professor's how to teach?

[@felixhoang7407]

If my professor is this interesting.

[@Lynnjoh]

😂

[@Luke-gp2in]

lol same i feel you bro🤣

[@fantomman3881]

Professors are poor MFErs 😂

[@Whatareevenbirds]

Bro my professor tells us to make group presentations and lets my classmates and I teach/present to eachother while he scrolls through tiktok😭 Like damn, if i knew this was the case, I wouldn't have enrolled and just go to the public library. Less time and money wasted

[@magdalenacruz29]

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**"

[@AccountingStuff]

Congrats on landing your job!!! That's amazing news. Hope it goes well :)

[@de-kingstutor]

Awesome, also have an accounting channel, you can check it out

[@patrickjohnson721]

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

[@AccountingStuff]

Cheers Patrick!

[@de-kingstutor]

Awesome, also have an accounting channel, you can check it out

[@thek4lqueen]

Ikrrrr better than any of my teachers

[@FreyaStark26]

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!

[@AccountingStuff]

Thanks for your kind words!!

[@de-kingstutor]

Awesome, also have an accounting channel, you can check it out

[@RabbitohsSupporter]

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

[@AccountingStuff]

Thanks! Great to hear you found it useful :)

[@catherinecalavrias5280]

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

[@daniaomais3895]

Thank you so much for the video, I really liked the video, you really put a whole semester in 6 minutes, and in easy terms, keep it up!

[@evilhatsunemiku]

this is a LIFESAVER. i've been so confused and my test is ... in an hour. thank you for your service.

[@sinahajiazizi6311]

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.

[@pullemfreight150]

Great Video. Very thorough & helpful

[@nolanreddy1772]

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

[@mahirgamer489]

true

[@richardpicard4824]

You are awesome James! Keep up the great work man. These videos are an amazing substitute for my Accounting courses. It's crazy how you can clear up so many things that wasn't clarified by my teacher for Financial accounting.

[@soledadgimenez5885]

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

[@tebogosetlhoka5530]

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

[@AccountingStuff]

Thanks!!

[@eshaeshal877]

Amazing 😍 finally I got the perfect Sir for accounting ❤️

[@esnartkaira4506]

Love your teaching

[@user-yf6hz2mm6t]

OMG!!!!! I finally got it! You made my life so much easier)

[@emilyb7867]

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!

[@AccountingStuff]

Thanks Anxhela! Great to hear you're enjoying these vids. All the best :)

[@dyangetz5040]

Well done! You make it interesting!

[@TheGippy30]

thanks James youre a star

[@Delmass3547]

Thanks so very much for your common sense approach to Accounting, I appreciate you.

[@AccountingStuff]

No worries, hope it helped!

[@duckyanna9852]

amazing help, thank you

[@youmultigreattimes1695]

This was an amazing video, thanks so much 😊

[@julietapompo-lewis3895]

Thank you for this!

[@rubymarie8834]

thank you so much I was struggling in Prin of Financial Accounting

[@salman-anjum]

Your way of describing is incredible
I just wanna subscribe your channel 1000 times
Thanks for help, the day after tomorrow will be my interview

[@DreamFirms]

Another great content from your channel!

[@titreynium8115]

Thank you so much for your help. This video and your videos on income statements have really solidified my understanding of the concepts.

[@AccountingStuff]

You're very welcome!

[@zhimeipen294]

You're a scientist who makes things simple！

[@theschoolofafricanlanguage6385]

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

[@AccountingStuff]

Thanks, great to hear you found it useful!

[@peterbaez4222]

thanks ,very helpful

[@rumana5696]

Thank you so much

[@abosedetowoju5083]

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

[@AccountingStuff]

That's great to hear! All the best with your career change

[@ryanarment5393]

you got me through my last accounting class. Thanks mate!

[@de-kingstutor]

Awesome, also have an accounting channel, you can check it out

[@hailuberhanu8755]

u are amazing and ur explanation is also so cool, I would like to continue learning from u. Thank you

[@12Manny]

Thank you, great illustration

[@AccountingStuff]

You're welcome :)

[@odense1]

Excellent video. Thank you.

[@AccountingStuff]

You're very welcome :)

[@fredlim2534]

You made difficult easy to understand what a great facilitator you are.

[@AccountingStuff]

Cheers Fred, glad to hear it!

[@accountsbalance]

Great tutorial! Its very informative and fun at the same time. You definitely put a lot of effort in your content to make accounting easy to learn!

[@AccountingStuff]

Thanks for your kind words!

[@abirjas1192]

Perfect timing💜💜💜

[@de-kingstutor]

Awesome, also have an accounting channel, you can check it out

[@alexandervalladares2501]

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

[@AccountingStuff]

Thanks, glad you enjoyed it :)

[@abenezerhabeshawi1089]

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

[@AccountingStuff]

Great to hear you found it useful!

[@user-dx7rj2vg5h]

you just saved my life

[@surendarsiva158]

Fantastic explanation!

[@AccountingStuff]

Thanks Surendar!

[@SithangaSasvindhu]

Thank you so much, your videos helped me a lot to achive good marks in the exam.

[@kcsreevalsan4032]

Really appreciate your efforts..so easy to understand.👍

[@AccountingStuff]

It's my pleasure, all the best!

[@annelievanwyk327]

Your videos and cheat sheets are so great!

[@AccountingStuff]

Thanks Annelie!!

[@annabenashvili7263]

Had just 2 lectures, and I'm already feeling the stomach ache of failing the class :D You're my only hope!

[@allegrayang9904]

Excellent! Thanks

[@AccountingStuff]

Cheers Andrea :)

[@RajeetSinghTVr]

Brilliant explanation, thank you!

[@AccountingStuff]

Cheers Rajeet :)

[@srikanthram4246]

Cool presentation !!

[@AccountingStuff]

Thanks Srikanth!

[@kevywilliams3304]

You’re amazing !!!! I just ordered the complete practice / cheap package !!!!

[@AccountingStuff]

Thanks for your support!

[@gustavotintaya2078]

I really understand how to make a balance sheet.Thanks\

[@jacobphiri1944]

Excellent

[@taylorandrews4461]

Another great video much appreciated

[@AccountingStuff]

Thanks Taylor!

[@muhammadtauqeer8650]

Very well explained!

[@AccountingStuff]

Thanks!

[@akankshapathak9723]

You are amazing👍

[@2ndChance54]

Thank you so much for this good and great explanation. I have subscribed to your channel and I will keep learning with your videos.

[@RockitSiri10]

you make every video so interactive......keep up the good work sir!

[@AccountingStuff]

Thanks, will do!

[@ahmadasghar4984]

Thanks a lot for your videos.🥰

[@AccountingStuff]

You're most welcome ;)

[@NguyenTran-qz5cv]

Awesome! Very useful :D Thank you so muchhh

[@bridgetgoodman562]

This was incredibly helpful! Subscribed immediately

[@AccountingStuff]

Wooo! Great to have you on board!

[@Exploring1Dream]

Much love sir 🏆💟

[@clairemadriaga5052]

Thank you for this video. It was very helpful for my college entrance exams!!!

[@AccountingStuff]

No worries, best of luck with them!

[@phowops]

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!!

[@AccountingStuff]

That's good to hear! Best of luck when it comes round :)

[@hazemmashal2753]

Thanks

[@satisfyingsauce3051]

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

[@AccountingStuff]

Good luck!!!

[@satisfyingsauce3051]

@@AccountingStuff thank you! a lot of it came up so I’m very grateful for the amazing accounting vids😊😊

[@eeerick_mz]

it helped me a lot, thanks

[@AccountingStuff]

Glad to hear it!

[@mahdichaal8756]

Always the best , God bless you

[@AccountingStuff]

Cheers Mahdi!

[@nihalriyas295]

Thank you james 👍🏻✨

[@AccountingStuff]

You're welcome :)

[@hmohar]

Your videos are helping me through my first year of accounting school- and propelling me towards the career change I need! Please keep it up :)

[@AccountingStuff]

Best of luck with your career change!

[@sanyogitasrivastava3673]

Your explanations clear my all doubts Thanks a lot sir it's really help me for my exam🤗

[@AccountingStuff]

Best of luck in your exam!!

[@blaisekasongo1775]

Perfect!

[@AccountingStuff]

Cheers Blaise!

[@Rakshak728]

Really great work thx sir

[@AccountingStuff]

Cheers, hope it was useful :)

[@sabs012]

Thank you!

[@AccountingStuff]

You're welcome :)

[@ll-owo-ll]

helped me solve a question i was stuck in for days. thank you so much :D

[@AccountingStuff]

No worries, glad it was helpful!

[@o0oo0o22]

I was in total lost for this module thank god u saved me!

[@markmcade]

Super content

[@AccountingPro]

Very nice presentation. 👍

[@AccountingStuff]

Thanks mate :)

[@bendoverson3457]

You’re the type of teacher I aspire to be, keep up the great work

[@AccountingStuff]

Thanks and all the best :)

[@nicolewalker6894]

This was so much easier to understand than my accounting book. 😭🙏

[@MrDCD007]

Hi James, Good to see your video again. As always Best financial helper

[@AccountingStuff]

Cheers Derick!!

[@taniamadah7498]

very helpful, Thank you

[@AccountingStuff]

No problem, glad you enjoyed it :)

[@rajveersinhrajput83]

Very useful video 🙏🙏🙏👍

[@AccountingStuff]

Thanks!!

[@yoshiu5167]

Always nice diagrams with movements that make the tutorial exciting. Also, nice idea putting the "wrong way" to create the B/S. It's these conceptual details that need to click. Great job making this vid!

[@ishihayagan]

Thank you for existing😭😭

[@de-kingstutor]

Awesome, also have an accounting channel, you can check it out

[@user-tk6ih7qq1v]

Thank you very much, you are a good teacher.

[@AccountingStuff]

Thanks, that's kind of you to say :)

[@themitheophotography3978]

Thank you for these videos, really makes a difference. Ive been taking business classes for years and these videos make me realize they dont teach hands-on experience. Thank you again

[@AccountingStuff]

Cheers mate! Hope your studies are going well

[@whuttefuk9837]

gosh glad i found you

[@an_tarkou3194]

great job man

[@AccountingStuff]

Thanks!

[@nawirirecords4549]

Thanks For This ,Love From Kenya

[@AccountingStuff]

You're very welcome :)

[@deniskibz2243]

Thank you sir

[@AccountingStuff]

You're welcome :)

[@edgarwhitney9711]

Please never stop make ng vids, humor is great thank you!

[@AccountingStuff]

Thanks, I'll keep them coming :)

[@rezakhan1304]

Wow , you are great !

[@AccountingStuff]

Glad you're enjoying these

[@sergiu5152]

Hey dude I just bought your cheat sheets! Amazing Content!

[@AccountingStuff]

Cheers for your support! All the best :)

[@pomaklohor1329]

Learning is so simple and easy . You are a great facilitator. Can you please do a video on consolidation?

[@AccountingStuff]

Thanks for your request!

[@JohnWhite-ms5wr]

Well, I think I've watched enough of your videos for this week of class for you to earn a sub. Thanks. Not sure if I'm doing it all to my professor's liking, at least I'm not totally lost now.

[@AccountingStuff]

Great to have you on board! All the best with your studies :)

[@watchdiz91]

best video ever

[@AccountingStuff]

Thanks Saikat :)

[@letsglowwqueen]

Please don't stop making these videos bro ❤️

[@AccountingStuff]

I plan to make plenty more :)