Accounting Crash Course - Be job ready in 1.5 hours!
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- čas přidán 23. 07. 2024
- Full accounting crash course for beginners and new accountants.
Email questions to: learnaf@outlook.com
Watch solved Bachelor/undergraduate accounting assignment: • Ace your Finance assig...
Access complete income statement analysis course: ebitda.thinkific.com/pages/start
If you are a complete beginner, or just interested in learning accounting as a profession, this 1.5 hours video will help you understand what is accounting? the accounting principles, rules of debit and credit, how journal entries are done and how financial statements are made, all in less than 90 minutes. After taking this free video course, you can even start working in the Accounting department as this will help you grasp all the concepts and learn how accounting takes care of all business transactions in a company.
Together we learn all the accounting principles, learn the rules and conventions of accounting, prepare journal entries for various transactions and then prepare trial balance, profit or loss statement, balance sheet and cash flow statement to complete the full cycle of accounting.
00:00 Introduction
01:02 What is accounting?
02:30 What are debits and credits?
05:14 Rules of Debit and Credit
08:38 Default balance position
09:04 What is an Asset in Accounting
10:23 What are International Financial Reporting Standards (IFRS)
15:24 Examples of Assets
18:50 Types of assets in Accounting
19:12 Current assets in Accounting
22:10 Non-current assets in Accounting
23:20 Intangible assets
24:45 What is a Liability in Accounting
28:54 Types of Liabilities
30:49 What is Equity
34:31 Income and expenses
40:34 Accounting principles
53:58 Practice accounting entries (Examples)
1:09:47 Flow of Accounting entries
1:11:04 General Journal
1:12:38 General Ledger
1:16:00 Trial balance
1:17:28 Financial statements
1:18:07 Balance sheet
1:19:30 Income statement
1:22:37 Cash flow statement
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Hope you find the information in the video helpful. If you like to watch more videos in accounting, financial analysis and controller ship, videos that help you directly in doing your job, subscribe to my channel. If you liked the video, I would love if you could LIKE it and leave a comment. If you have any questions or feedback, again leave a comment. Lets stay connected at #learnaccountingfinance.
I must say very well explained, its s great refresher for me as I prepare for interviews. Keep it going.
Doing Accounting for the first at college level, and having a difficult time grasping what is going on half the time. Praying this video will get me in the groove of things so I can actually start practising. Will give a review tomorrow
This one video was clearer and more helpful than several bookkeeping courses I have purchased. What a great teacher - thank you!
Thanks Tony. I am glad it helped
Thank you. Its well explained and precise
I was so glad that I came across your video!!! Being determined to learn as a beginner, I have watched quite a number of videos of accounting tutorials and boy, the more I watched, the more I got confused!😄 But in your video, I really learned very well!!!! Thank you so much!!!!
Thank you Shella. Comments like yours reassure me that my teaching style is not weird :)
Thank you for this refresher course. This was extremely helpful as an accountant that has been out of the office for a few years.
Glad it helped. Thank you for the comment.
I LOVE ACCOUNTS & FINANCE.
Excellent Course
Thanks a lot! Nicely explained.
Thank you!
Dear Professor. Thank you so much for providing these wonderful free courses. They are very clear and
helpful.
Thanks Sophie. Glad you found the information useful.
Many thanks! Your teaching is clear and concise
Thank you.
Thank you so much, best accounting crash course ever!
Thanks Siddharth. Glad you found it useful.
Thanks, it was very helpful, I learn lot and was very interesting, not boring at all!
Thank you Maria.
Thank you!
You're welcome!
great
Excellent
Very good video. The examples were clearly explained.
Thank you Glen
Thank you. Tried EdX and Udemy their classes are full of bullshit and time wasting. Thank you for making it clear and concise.
Thanks and I am glad you found it useful.
Sir very nicely explained 👏
Thank you!
Thank you for your extensive course. I appreciate all of this knowledge that I will be applying immediately at work.
Thanks for your comment. I am glad this course is helping!
Good information ❤
Thanks
Very appreciable
Thanks
the example in 36:43 about burgers seem to go against the credit/debit rule for income ? seems like both debt and credit were increased as you mentioned asset (recorded under debit) and income (recorded under credit) both increases ?
the asset of cash is increased when the burger is sold. there is a matching principle that states any debit entry must have a credit entry. therefore there is a credit entry, sales(which is classified under income). and yes both assets and income can increase, because they give different outcomes. debit and credit. as long as they give give debit and credit, they can increase.
Sir u ar very politely explaining.Do you have any other lecture in which u explain how it works in Real time.Please share the link
Thanks
Thanks Heena. By real time, do you mean video recording of posting of accounting entries? Thanks
Good stuff.. keep at it
Thanks. What would you like to see more of?
What was the main finance question that interview given to finance position please master
Great Video, Explained very well.
Thanks
good video
Thanks
Do you have PDF file for this video?
Ledger make sales and purchase at excel
Hi teacher. I am currently An intermediate student in CPA. i have zero experise job wise, this was really helpfull. So i want to me a remote accountant, give me road map i have to follow or any kind of advice.. am in kenya and my exam body si called KASNEB. IF given good trying i can do a great job😊
Why did you mentioned dividend income 500 as negative in operations activities again added in investment activities ?
Hello Hasan. As explained in the video, dividend income should be reflected under investing activities. In the indirect method of preparing cashflow statement, we start with net income which already includes dividend income. We exclude it to not reflect under operating activities, and then show under investing activities. Just a matter of classification.
I have one confusion if both Assets and liabilities are equal in balance sheet in this case how to know company was in good position or not?
The accounting equation is Assets = Liabilities + Equity. From a financial position perspective, assets are not equal to liabilities. The higher the equity, the lower the liabilities in the balance. Equity represents value of ownership of net assets.
what about an institute that pay cash to the contractor for interior designing ? one is cash and the other is contractor right ? so cash decreases so credit it , but what about contractor and under what ledger does contractor and cash fall in cash book?
If the cash was paid to the contractor after completing the job, debit can be an "expense" in the p&l. The name of the gl account can be interior design expenses. If the interior design is costly (material or large amount) and is part of the building fixtures that the institute owns, this can also be treated as fixed asset or capital expenditure. In that case a fixed asset account such as "building" or "improvements" will be debited. If the cash is paid in advance for work that will be done later, debit will be an asset account such as "advances, deposits and prepayments".
@@LearnAccountingFinance Thankyou ,but i am still confused , can you make a video on this example on the excel please , Also can you do a video on creating cash book on excel on direct and indirect expense , current and fixed assets with examples, where the balance is also recorded.
DO YOU HAVE THE WHOLE THE ACCOUNTING FIANCIAL COURSES ONLINE TO SHARE ?
Hello Li Ha. All my content is available on the youtube channel. There is currently an advanced income statement analysis course that you can access at ebitda.thinkific.com/courses/learn. I also provide 1 on 1 training/coaching. You can check details by sending a direct message to @learnaccountingfinance on instagram.
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Telugu lo experiences cheyandi sir
devika bhatnagar accountancy chudu bro
sir kindly provide us slides
The concept of credit and debit is confusing - It seems as if when you pay others money it becomes a credit whereas in real life , having a "credit" card is a good thing as it means you have a line of credit to spend for purchasing of products and services
:) yes it gets confusing when we try to connect debit and credit from accounting to everyday use of the terms. You can view credit line or credit card as an offer by the bank to "increase your liability" ( = credit according to accounting rules). When you make purchases on a credit card you are in effect increasing your liability because you now owe the bank or credit card provider the amount you purchased for. Personally for me, this is the worst kind of credit as it starts growing (with interest) if you do not settle in time. The same goes for credit line.
Remember buddy there is no logic u have to rememver this that there are 5 nature of accounts like assets expense when every they rises we have to debit them and when ever they decreases we have to credit them in journal while capital/equity , income and liability when ever increases we have to credit them and when ever these decreases we have to debit them
Most people don't explain debit and credit probably.
Also credit and debit are a bit arbitrary and has too much interference.
No there is a logic just take your self as a company and simply anything that comes in is debit anything that goes out is credit remember this
@@iqraqureshi436
That's very wrong.
Where do you put retained earnings and equity?