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Accounting Stuff
Australia
Приєднався 4 тра 2018
Want to learn Accounting? You are in the right place!
Accounting Stuff helps Bookkeepers, Students and Small Business Owners learn Accounting Basics for free.
I created this channel in 2018 in order to share the knowledge and experience that I have built up over the past 6+ years working as a Qualified Accountant at the Big 4 and in Industry - at large Listed and Private Companies.
Each month, I release tutorials on Accounting Basics to help you learn the theory of Accounting & Bookkeeping quickly and efficiently. If this sounds like something that will help you out at work or in your studies then make sure to subscribe to the channel now!
If you have any questions or want to request a topic or tutorial just leave a comment on any of my videos and I will get back to you.
Thanks for watching, and welcome to Accounting Stuff!
James
Accounting Stuff helps Bookkeepers, Students and Small Business Owners learn Accounting Basics for free.
I created this channel in 2018 in order to share the knowledge and experience that I have built up over the past 6+ years working as a Qualified Accountant at the Big 4 and in Industry - at large Listed and Private Companies.
Each month, I release tutorials on Accounting Basics to help you learn the theory of Accounting & Bookkeeping quickly and efficiently. If this sounds like something that will help you out at work or in your studies then make sure to subscribe to the channel now!
If you have any questions or want to request a topic or tutorial just leave a comment on any of my videos and I will get back to you.
Thanks for watching, and welcome to Accounting Stuff!
James
Double-Entry Accounting: a 2 Minute Tutorial
⭐️Join this channel to get exclusive daily quiz questions:
ua-cam.com/users/accountingstuffjoin
In this video I attempt to explain Double-Entry Accounting in less than two minutes.
Double-Entry Accounting is a Bookkeeping system. It says every accounting entry must have an opposite corresponding entry in a different account. Debits & Credits are the words we use to reflect each side.
This idea is more than 500 years old. It was first documented by an Italian mathematician called Luca Pacioli, in his book "Summa de Arithmetica".
The concepts in this book helped spark the rise of modern capitalism, and earned Luca a new name... the "Father of Accounting".
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
00:07 - What is Double-Entry Accounting?
00:25 - Who invented Double-Entry Accounting?
00:45 - Single-Entry Accounting
02:21 - How do Debits and Credit work?
02:54 - Why is Double-Entry Accounting important?
🔎FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
🔝 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/ck90eoq1r6tu
🚶FOLLOW ME ON
▪ Instagram → accountingstuff
▪ TikTok → www.tiktok.com/@accounting_stuff
▪ Facebook → thisisaccountingstuff/
________________________
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 #accountingbasics #accountingstuff
ua-cam.com/users/accountingstuffjoin
In this video I attempt to explain Double-Entry Accounting in less than two minutes.
Double-Entry Accounting is a Bookkeeping system. It says every accounting entry must have an opposite corresponding entry in a different account. Debits & Credits are the words we use to reflect each side.
This idea is more than 500 years old. It was first documented by an Italian mathematician called Luca Pacioli, in his book "Summa de Arithmetica".
The concepts in this book helped spark the rise of modern capitalism, and earned Luca a new name... the "Father of Accounting".
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
00:07 - What is Double-Entry Accounting?
00:25 - Who invented Double-Entry Accounting?
00:45 - Single-Entry Accounting
02:21 - How do Debits and Credit work?
02:54 - Why is Double-Entry Accounting important?
🔎FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
🔝 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/ck90eoq1r6tu
🚶FOLLOW ME ON
▪ Instagram → accountingstuff
▪ TikTok → www.tiktok.com/@accounting_stuff
▪ Facebook → thisisaccountingstuff/
________________________
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 #accountingbasics #accountingstuff
Переглядів: 22 166
Відео
The Accounting Equation: a Quick Guide
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The Accounting Equation: a Quick Guide
3 Liquidity Ratios You Should Know
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How to use QUICKBOOKS ONLINE (2024)
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6 Profitability Ratios You Should Know
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Accounting: 32 Things YOU SHOULD KNOW
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BOOKKEEPING BASICS: 7 Steps to Get You Started
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TAX BRACKETS: a Simple Guide for Beginners
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TAX BASICS: a Beginner's Guide to Everything
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FINANCIAL STATEMENTS: all the basics in 8 MINS!
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FINANCIAL STATEMENTS: all the basics in 8 MINS!
FINANCIAL RATIOS: How to Analyze Financial Statements
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FINANCIAL RATIOS: How to Analyze Financial Statements
RETURN ON ASSETS: a Quick & Easy Guide
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RETURN ON ASSETS: a Quick & Easy Guide
Which QuickBooks Online Should You Buy in 2023?
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NET PROFIT MARGIN: a Ratio Made Simple
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NET PROFIT MARGIN: a Ratio Made Simple
OPERATING PROFIT MARGIN: a Quick Guide
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OPERATING PROFIT MARGIN: a Quick Guide
GROSS PROFIT MARGIN: a Simple Explanation
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GROSS PROFIT MARGIN: a Simple Explanation
The CASH FLOW STATEMENT for BEGINNERS
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The CASH FLOW STATEMENT for BEGINNERS
The BALANCE SHEET for BEGINNERS (Full Example)
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Wise: The Best Way to Send Money Abroad (TransferWise)
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Wise: The Best Way to Send Money Abroad (TransferWise)
CLOSING ENTRIES: Everything You Need To Know
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CLOSING ENTRIES: Everything You Need To Know
The KEY to Understanding Financial Statements
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GENERAL LEDGER: Visual Guide to Posting Journals
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GENERAL LEDGER: Visual Guide to Posting Journals
ACCOUNTING BASICS: a Guide to (Almost) Everything
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DEPRECIATION BASICS! With Journal Entries
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UNITS OF PRODUCTION Method of Depreciation
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UNITS OF PRODUCTION Method of Depreciation
I actually have a question regarding the fifo method- Suppose the issue from 1st batch of purchase has been returned back at a later date. Why do we add it back to the 1st batch in the ending inventory? Could we simply not have kept it as a seperate balance from the 1st batch and if we did that, would it not be more in line with *First in First out*?
hopefully you see my comment. may i know which better for the OPM. when it increase from the prior year or decrease from the prior year?
Hey James you're great! I'm taking Florida Business and Finance exam to be able to get a trade license . You're keeping my attention and you're really good at changing it up to keep me focused. I have to study all kinds of things financial. Thank you sooo much!
Thanks Michael! All the best :)
my 3 hour lecture was summed up in 6 minutes. just sent you thank you cash. amazing
Great to hear it made sense :)
Thanks!
Legend! Thank you!!
useless video
This is the best accounting
Thanks!!
o is for odoo
👍
You are a star!
Thank you :)
4
Well done!!
Not an accountant.. Studying in class 12 Got them all correct 💯
Nicely done :)
Good Day Sir, Im Iswerya Lingam Gounder from UPSI. From this video i learned the important for tracking cash inflows and outflows in a business, structure, purpose, and methods (direct vs. indirect), focusing on reconciling changes in cash through operating, investing, and financing activities.
Glad you found it useful :)
Keep up the content, best accounting channel in all YT
Thanks, will do!
my professor used this video in my online lecture, it was way mor informative than and understandable than the powerpoint presentation, thanks for you hard work
That's great to hear! Glad you found it useful :)
5
4 of 5
Well done!
4 of 5
Nice one :)
I just have to say. I genuinely love the fake business names. "I Want To Hold Your Udder" just took it to another level. Also fantastic work you are doing to explain these accounting principles!
Thanks, great to hear you enjoyed it!
4/5 missed WIP thanks
Well done!
5 for 5
Thank you for this Accounting Basics for Beginners playlist!! It has been so helpful so far! I'm excited to continue. I did not study finance in college, but now I do admin work with a bunch of accountants. These videos have helped me so much to start understanding what they do and understanding the company -- which makes me better at my job! Your videos are easy to understand and well designed. You make it fun to learn! Thank you! Thank you!
Thanks for your kind words :)
Amazing work! You do an excellent job explaining these concepts!!
Thanks, glad you enjoyed it!
As someone who had an explicit background in the biological sciences and such, and who changed her major halfway through school to something very math and statistics-based, THIS IS LIFE-SAVING. (My new degree also requires me to take some accounting classes. While i appreciate accounting, I am also lost. I have classmates who know what they are doing. I do not. But this helps a lot. I am so thankful for everything that you do. Thank you. Appreciate it.).😇
No problem, all the best with your studies!
hi my name is najihah, thanks for your sharing about cash flow statement. Based on your video i know that business has earned and incurred not is cash inflows and outflows so it's not equivalent to a cash flow statement. So business must using the accrual method to keep a separate cash flow statement.
Exactly right!
❤This dude is a blessing guys,like,subscribe and comment for the algo🎉
Thank you :)
4/5😂
So close!!
I still don't get why we need Journal Entries when we already record the sales. purchases, expenses and indirect incomes separately on any accounting software. If anyone can answer this, it will be really helpful.
Accounting Software tends to post a lot of journals automatically. But it's still important to understand why and how it's happening
@@AccountingStuff ohh... okay got it. So basically it's just to double check that all entries are being done properly in a formal way and easy to understand. Thanks for the wonderful video.
@@abc2001 Yes, and so that you understand how different transactions impact the Trial Balance
QuickBooks is garbage now that you cannot upload from anything but a web app. And staying on old versions, they are STRIPPING functionality from versions 2019 and older. QB is TRASH.
Also, good luck uploading a CSV to an existing general ledger.
4/5 First time I saw the last one. Lol
No worries, lots of people didn't get SOX
Hello sir. I’m sharwesuwary kumaraval. Cash flow has 2 methods which is direct and indirect method. Thank you for the video
Yes, you're correct! I have videos covering the direct method too
I am learning this as it's essential for any businessman
Good on you!
hey james!! can you pls!! do a dictionary of accounting pls!! I love your videos!
That's a great idea!
Make a real income statement
I make an Income Statement out of a Trial Balance in this video: ua-cam.com/video/0--AvwZabIQ/v-deo.html