Accounting: 32 Things YOU SHOULD KNOW 

So many things to know! If I missed any out then please do share. Timestamps and video links: 00:00 - Intro 00:17 - 1. Financial Accounting - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yYX4bvQSqbo.html - Cheat Sheet: accountingstuff.com/shop/accounting-cycle-cheat-sheet 00:57 - 2. Single-Entry Accounting Method - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-i8RIh04AaD8.html - Cheat Sheet: 01:24 - 3. Double-Entry Accounting Method - Video: Coming soon! 01:47 - 4. Accounting Equation - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-56xscQ4viWE.html - Cheat Sheet: accountingstuff.com/shop/accounting-equation-cheat-sheet - Q&A: accountingstuff.com/practice-questions/accounting-equation-question-pack-1 02:03 - 5. Assets - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-rOsuqG_J0t4.html 02:22 - 6. Liabilities - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-fKRwT10Sszc.html 02:45 - 7. Equity = Net Assets - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fr5oHEYrT2A.html 03:15 - 8. What is Equity made up of? - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fr5oHEYrT2A.html 03:32 - 9. Retained Earnings - Video: Coming soon! 03:56 - 10. Withdrawals - Video: Coming soon! 04:11 - 11. Profit - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-0--AvwZabIQ.html - Cheat Sheet: accountingstuff.com/shop/income-statement-cheat-sheet - Q&A: accountingstuff.com/practice-questions/income-statement-question-pack-1 04:29 - 12. Revenue - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-0--AvwZabIQ.html - Cheat Sheet: accountingstuff.com/shop/income-statement-cheat-sheet - Q&A: accountingstuff.com/practice-questions/income-statement-question-pack-1 04:38 - 13. Expenses - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-0--AvwZabIQ.html - Cheat Sheet: accountingstuff.com/shop/income-statement-cheat-sheet - Q&A: accountingstuff.com/practice-questions/income-statement-question-pack-1 04:49 - 14. Expanded Accounting Equation - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-_F6a0ddbjtI.html - Cheat Sheet: accountingstuff.com/shop/accounting-equation-cheat-sheet - Q&A: accountingstuff.com/practice-questions/accounting-equation-question-pack-1 05:05 - Cheat Sheets and Practice Questions 05:26 - 15. Debits and Credits - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-VhwZ9t2b3Zk.html - Cheat Sheet: accountingstuff.com/shop/debits-credits-cheat-sheet - Q&A: accountingstuff.com/practice-questions/debit-credit-question-pack-1 06:36 - 16. DEALER - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-5Y3wjH-6gHk.html - Cheat Sheet: accountingstuff.com/shop/debits-credits-cheat-sheet - Q&A: accountingstuff.com/practice-questions/debit-credit-question-pack-1 07:09 - 17. Debits and Credits aren't backward - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ddb65RudGi0.html - Cheat Sheet: accountingstuff.com/shop/debits-credits-cheat-sheet - Q&A: accountingstuff.com/practice-questions/debit-credit-question-pack-1 08:06 - 18. Cash Method vs Accrual Method of Accounting - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-C8UuX75ZarU.html - Cheat Sheet: accountingstuff.com/shop/cash-accrual-cheat-sheet - Q&A: accountingstuff.com/practice-questions/cash-vs-accrual-accounting-question-pack-1 08:56 - 19. GAAP vs IFRS - Video: Coming soon! 09:15 - 20. Revenue Recognition Principle - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-37PPccwsYJI.html 09:40 - 21. Matching Principle - Video: Coming soon! 10:04 - 22. Journal Entries - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Y-_Q3rANyxU.html - Cheat Sheet: accountingstuff.com/shop/journal-entries-cheat-sheet - Q&A: accountingstuff.com/practice-questions/journal-entry-question-pack-1 10:44 - 23. Accounts - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-kA9snSvCgW8.html - Cheat Sheet: accountingstuff.com/shop/t-accounts-cheat-sheet - Q&A: accountingstuff.com/practice-questions/t-account-question-pack-1 11:05 - 24. General Ledger - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fu8zGee1SZw.html - Cheat Sheet: accountingstuff.com/shop/general-ledger-cheat-sheet 11:24 - 25. Chart of Accounts - Video: Coming soon! 11:49 - 26. Trial Balance - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-3_PfoTzSCQE.html - Cheat Sheet: accountingstuff.com/shop/trial-balance-cheat-sheet - Q&A: accountingstuff.com/practice-questions/trial-balance-question-pack-1 12:10 - 27. Adjusting Entries - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H0N7tvXuJlU.html - Cheat Sheet: accountingstuff.com/shop/adjusting-entries-cheat-sheet - Q&A: accountingstuff.com/practice-questions/adjusting-entry-question-pack-1 12:35 - 28. Financial Statements - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fi1wkUczuyk.html 12:56 - 29. Balance Sheet - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-CMv1zlZhb4Q.html - Cheat Sheet: accountingstuff.com/shop/balance-sheet-cheat-sheet - Q&A: accountingstuff.com/practice-questions/balance-sheet-question-pack-1 13:31 - 30. Income Statement - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-0--AvwZabIQ.html - Cheat Sheet: accountingstuff.com/shop/income-statement-cheat-sheet - Q&A: accountingstuff.com/practice-questions/income-statement-question-pack-1 14:05 - 31. Link between the Income Statement and the Balance Sheet - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-_F6a0ddbjtI.html 14:40 - 32. Cash Flow Statement - Video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-DiVPAjgmnj0.html - Cheat Sheet: accountingstuff.com/shop/direct-cash-flow-statement-cheat-sheet - Q&A: accountingstuff.com/practice-questions/cash-flow-statement-question-pack-1 15:22 - Outro

Retired accountant here. Excellent video. There's so much and it's pretty confusing at first to learn accounting. You've laid it out clearly and concisely. This is a great resource for students, entrepreneurs and anyone who would like to understand what their accountant is doing. Great job. Also great that you've created sections to easily find what you need.

Accounting is the language of business..💯

Your videos are actually such a game changer for me. The way you structure videos is just A+ and you make it so simple for everyone to understand. Hope you keep posting!!

This is by far the best channel on Accounting. I had to learn GAAP to take over my parents business that they ran for 50 years as a Sole Proprietorship using single entry accounting. It has been a mess trying to transition into modern double entry accounting but this RU-vid saved my sanity! 💝🥳🎊🎉

If I were to watch this when I started my accounting few years back. This could have made my life so much easier. Thanks for the big picture of accounting, it is a well-presented video with great flow! 💯

I love your videos I am doing CPA exams here in Ireland and most of the time I go to your channel to get a better understanding of things my lecturers teach me 😊😊

I've been going through your accounting basics and they've been extremely helpful. Starting school in the winter-term to finish up my associate's degree in accounting as my bachelor's in something else and these videos are helping me get ahead of the curve and refresh myself. Plus, they're helping me get to a point where I just flat out feel confident enough to start applying for accounting jobs.

Only thing you left out is literally holding my hand in my accounting class.

I am working towards my goal of operating a virtual bookkeeping/accounting service and your channel is a gem.

This is a fantastic summary and very helpful to a non finance entrepreneur. Will go through the detailed videos in the description

It's the best video on the subject. I have to revisit this from time to time to refresh my understanding of debit/credit

This video is amazing! I'm currently an Accounting freshman and our classes will start this week. Thank you so much for being so good at teaching accounting 💜💜💜

Great videos overall. The best explanations I have ever come across.

James your videos are truly life saving. I am a sophomore accounting student and I would not been able to make it this far without your help. I was wondering if you could do a video on uncollectible account expenses.

Great video again! Thanks a lot for all this clear content and very insightful explanations!

hey James! Appreciate the hard word man, just finished ur accounting basics playlist. I really want to thank u for making everything clear and simple. The only things I would like u to make more videos about are depreciation&amortization and contra asset acounts, these are the only 2 topics I'm still kinda skeptical about. Hope this comment will get ur attention, and thank you for all ur efforts

OMG! You're back!! FANTASTIC! (I haven't looked but.... SO happy you've posted this! Will check more often!)

Love all the accounting videos you made for us and they are all awesome! I watched all of them!! Very easy to understand. When you get chance if you could make a video of BAS it will be really appreciated 🙂 I will keep supporting you here

Thank you so much James for all your hard work!! You are the truly the BEST resource. Can you please make more content on managerial accounting? the different principles/ reports/ etc... thank you SO MUCH.

Well explained thank you . Keep on.

The best crash course on accounting so far! One thing to correct, though, even when using cash method on the p&l the statement of cash flow is still different as it includes all money going in and out even paying liabilities for example that isn't on the p&l.

Thank you so much James for your good content. Today I understand accounting from start to scratch because of you. God bless you brother. 🤞🏾❤️🙏🏾🙇‍♂️

Thank you so much for your helpful informative video!

Excellent video. Summarised entire accountancy

I am a new student of Accounting.....and your videos helping me a lot. Cool videos.

Thank you for making these videos, it really helps.

I'm totally speechless. You're such a genius in explaining accounting. I have watched your other accounting videos also, they're all fantastic!!

I'm Brazilian and I'm applying for some accounting positions that requires english, and so far I only had studied Accounting in Portuguese. Your videos are helping me a lot with vocabulary =D Thank you!

you are doing great.. please keep making videos

I'm a native Spanish speaker. Came here to learn some accounting terms in English and ended up learning a lot about accounting as well... Excellent video... Thanks a lot.

Brilliant as always

Thanks bro I was literally gonna recap on debit and credit as I was having a hard time at class.

That's incredibly for everyone to follow-up your video

would love to see a video on cost accounting ( cost classification in particular direct, indirect, fixed, etc). Also, you are a legend!

It reviewed a lot of my lessons that I forgot it long ago ❤

thank u very much u have helped me alot with my test and also understanding the basics

Thank you for this video's, actually it's been 5 to 6 month i started following you for educational purpose. I love your way of teaching this helps me a lot in study as well as in job in MNC. Where we have to prepare Financial as per IndAS.

Thank you so much for the post! it's been so long I hope you post more often. I'm looking at becoming a bookkeeper once I get an associate degree in accounting. I live with my parents so I don't need to make a ton of money but do you think I should get a bachelor degree in accounting and then get a job?

I'm loving these videos, thank you so much for creating them. Would you consider please doing one for doubtful debts/bad debts? I have watched quite a few videos but just can't seem to grasp it and I really resonate with your style of teaching so was hoping you could do one. I mostly get it but just not the Bad Debts/Allowance for Doubtful debt accounts and journal entry. I think I understand the Allowance for Doubtful Debts, but where does the Bad Debts account come from? Many thanks!

Great video

I have watch your videos for a long time. Just started high school in Belgium and we have to watch your videos in the accounting lessons 😂

Excellent

I love this! ❤

thank youu!!

Can you do a comprehensive 5hr perhaps video on all 11 Accounting Principles? You are the most fun and best accounting teacher I have ever seen! 🧑🏻‍💼💯🏀

i forgot to turn on notifications and thought i lost your channel thank god for youtube throwing your video on my feed

im blessed with your vedios i had so many calculation in my exam with taxes with no calculator an im bad with multiply so i had my exam so bad but still love yor vid

Great work bro! Armenia loves you ))))

If possible could you please please please please PLEASE do a video on the consolidation of financial statements and /or on management accounting basics.

Thank you for the great video 👍. I wish you were the accounting professor at my university 😢.

An amazing new video,Winnie is still sweet ,Thank You for the video

Nice video. Where can I find chart of accounts in excel format to download?

Could you make a video on AUA/ bad debt expense

Can you please please start making videos on consolidated statements + management accounting as well, please 🙏

I do appreciate your effort and I'm learning a lot. Currently, I'm working as an AR and I'm failing to understand the AR Age Analysis. Current: 1-30: 31-60: 61-90 and over 90 days. I'm failing to understand the figures, As you will find a tenant is being invoiced 1000$ monthly. At current 2 500$, 1-30 0$, 31-60 2300$, 61-90 -450$, over 90 5000$ I don't understand how those figures are calculated. Can you plz do a video about AR AGE ANALYSIS?

I use simple cash based accounting for a couple of rental properties. I like the idea of the accrual system, but not sure if there would be much advantage for me.

Thank you very much sir. Love from Pakistan

Hi James bro, Kindly requesting you to upload video on US GAAP Course. I am expecting US GAAP sessions from you

would it be possible to have a video on reduction of capital, showing all the relevant T-account entries, from a channel which has given me the best tuition in book-keeping and financial accounting.?

Hey there, can you make a video on Conceptual Framework of Accounting

can you make a video on bad debt allowance and write offs pls

It's interesting that credits is considered a source money is coming from! at the same time that it represents what you have to pay out!

Can you do manufacturing accounting/operation?

Do you recommend any efficient and reliable channel for stock marketing investments explanation. I watched all your videos recommended by my professor at the university but I couldn’t find here anything related to stocks. I would really appreciate it.

Hey James,can you drop a video about Partnership Accounts ,,,PLEASE

Hi have you posted a video avout the accountants worksheet??

I'm really glad that I came across this channel God sent you to me!

hello could you pls do MA also? its kind of difficult!!

Long time No See...

Do statement of comprehensive income

Im from Bangladesh. 🇧🇩

Legend

I don't know what to comment bro just 👏

do not stop ...... go go go

Getting the CPA is hell. I took 3 of the 4 and failed all of them. Two in the 60's, 1 in 50's

6:30 why debit accounts increase when debit increase and decrease when credit decrease?, s.o help me please, i still dont get it

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Video not displaying correctly. No visuals aids. Please fix.👍🏾

Thank u macalinkeyga

👍👍👍👍👍

Is this Australian accounts?

I am learning accounting and I like it but feel like everything is done backwards in it.

Wait....is that a Border Terrier on your lap?

CosmoPAWlitan. Classic.

When I think of accounting, I think of ACCA / ICAEW

I like that. ***!!!!--- DEALER ---!!!!***

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oh i feel too stupid((( why is it 8k and 13k on 11:00??????

💞💞💞🥰

YOU MISSED OUT A VERY CRUCIAL POINT - that there are 3 account - Personnel, Nominal & real

I guess we have 2 things in common now... I have a Schnauzer too :) Thank you for your videos!

Nibbly lil pup

the funny things is the dog wanna eat your hands

Why your dog biting your fingers??😐

This AccountingStuff is really into AmazingStuff

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