GAAP Explained With Examples | Mapping Income Statement Lines to GAAP 

Yesterday I watched your video and I can answer most of the interview questions related to accounts successfully in my today's interview... Keep post more video my dear friend..

Hi Bill. Very lucid & concise! You got to the core of accounting theory textbooks in one short & sweet presentation. Will you be able to show us a video showing 1) Reconciliation of presentation of IS (income statement) as well as Balance Sheet, based on latest IFRS, vs US GAAP &/or SOX 2) Treatment for material differences; and 3) Impact of the treatment or any reclassifications (including tax impact, if any). Thank you so much! 🙇

First time I see this topic in an NO BORING presentation. Thanks so much, it's so hard to try to learn just by reading without a visual exercise.

I'm an accounting student. I'm glad you provide us with these videos. I feel like I can breathe.

it is very useful for my interview panel, now I am started watching all your videos. Thanks a lot,

You made tuff topics easier to understand. Great job 👍

You make very informative videos. Please keep going!

Please make more videos. I learned a lot. Could you please make some videos related with payroll such vacation accrual? Thanks

thank you I refreshed a lot of learnings

Bill you are really doing excellent work for the accountants and financial controllers community round the world actually and not just USA. Keep up the good work and God bless you!

thanks for everything you teach us on this video

Hi, i would like to ask you for a recommendation to take a full course about US GAAAP. Thank you.

Is it possible to zoom out and get a full screen view of the excel sheet so I can screenshot to study or print it out please?

Simple and short Nice video keep it up👍

Hi Bill. I have a question. I am working for a building material company. If a customer returns over stock items within 6 months, what main account should I charge to ? I have revenue account and allowance account. Allowance account is for damage items, back charge for labor. I am not sure if the return items (good items and resellable) is belong to sales revenue account or allowance account. Thank you very much.

Thanks so much

Thank you for the video!❤️ I have a question. Is there any certification based on that I can show that I have a good knowledge of GAAP?

Great video to review

Quick question so you say there is no math in accounting in Shane’s video? Sorry I didn’t understand that part very much. Thank you!

can you explaine the Al Capone case and how they charge with with Tax Evasion?

Is ifrs better than gaap?

Excellent video.

Hey, who has to prepare the income statement? The accountant?

Hi Bill , Thank you for a well explained video. Your presentation makes so much sense and its easy to follow. Thanks 😊

i am so confused - under GAAP rules and accrual accounting - if you sell a contract for a one-year $10,000 subscription and the contract is signed 1/1. you invoice monthly beginning on 1/15. and the subscription is effective 2/1. how.... how... do i record this? what date is the revenue "recognized"?

Accrual. "Even if the invoice is not issued" your statement is not correct, accrual basis is business on credit, invoices are issued, bills are received but realization will happen later.

You have enhanced my understanding and interpretation of income statement, this is super good! I would appreciate your deep dive of IFRS 16

Hi, your videos are very informative, can you also perhaps consider a refresher on IFRS 9, 15 and 16...

Thank you for keeping the words. Can I expect more videos in this topic?? As it is very vast portion and your explanation save our times with better understanding. Thanks once again.

Thanks a lot, Finance Controller, your explanations are highly valued.

Hi Bill, thanks a lot for the nice video. Could you please make videos to analyze financial statements by considering the (IFRS & ASPE) standards plus preparation of year-end audit/annual audit based on a real-life sample, as such by any chance quarterly SOX report? Thanks in advance.

Sir, As per my knowledge and google search, you only explained well about GAAP. If you give a example journal entires along GAAP mapping, also helpful for us Thanks

Hi Bill, great video. Could you make a video on multi-national qualifications? I have my final ACCA Exam in a couple of weeks; Interested to see which American employers would recognise this over CPA. Thanks!

Can anyone who doesn't have mush mouth explain this.

Dawn Extension

Thanks a lot, Please make video for balance sheet also using GAAP

Thank you Bill for explaining the overall GAAP procedures. I really appreciate it!

All your videos helped me a lot. would you please explain how to become a financial controller and what is your responsibility if you don’t mind thanks

Thank you sir

The correction I suggest: this is not the reason for your existence! Your existence has many and more important reasons! As per the accounting explanation good job!

Thanks for such a nice illustration! Please upload more videos wrt US GAAP.

Great stuff dear Bill :) Appreciated.. And May i just check one thing here, will go for accrual only if incase we are not billed to customer? Or do we have any other scenario where we accrue revenue except Unbilled to customer?

Bill I do love your content! You are a great teacher! Very concise and practical piece of information

Thank you !.. i really liked the way you have summarized it; this exactly crisp thing as i was looking for, and nice way to present in the Google sheet it is easy to record in the mind ... as easy to connect for the experienced people like me..

Hi im studying online bookkeeping and accounting. Your videos are highly interesting. Im from philippines.

Hi, I work for a Chrysler dealership doing A/P, A/R, payroll, balancing statements, entering, and expensing invoices & so much more. How do I know if this company uses GAAP? since I do not do anything with the financial statements.

Could you tell me what are US Accounting law practices and where can I find subject matter about that. I need that urgently.

Hi Bill, Thanks for this wonderful lession. what happened with General, selling & administrative expenses? Is this bifurcation of below items like Rent, TE & Commissions?

Hi Bill, Very nice method that you use to explain each line and actions in IS, it is clear to everyone, I guess...but it is helpful for me...tks a lot.

Plus is it possible to get a job as an accountant without knowing the GAAP standards bt knowing the IFRS in USA?

One thing I want to correct here for hand break pull it without pushing and down it with pushing

Hi, I am from India and I am working as accountant but not exactly end to end doing only doing a 1 part of it so now I am searching for job as a financial controllerand for that I have saw lots of vedios on youtube but not exactly understanding the concept very deeply if you will give traning or online course on it if possible in easier way so it would be great help to me to crack an interviews

Thank you for posting this valuable information. It’s easy to follow and very helpful.

It would've helped more if you had filled in numbers and described what these numbers were for.

I'm from India and how can I pursue CPA

Air I breath in was really beautiful

Excellent ❤

Hi Bill, your videos are amazing...I learnt many things from your videos...Even I gave my last interview after preparation from your videos...Thank You for making such meaningful videos...One que I have, I am from India how can I get job in abroad???

Love you Sir. You are the Boss

Thanks for your videos

Very Informative

Excellent video!

Love this video. Its very clear and well explained. Many thanks!

Very useful

Excellent 🎉

Well explained

I love the way you explain. It is clear and very easy to understand and imagine. Thank you so much

Watching all your videos and Ads without skipping. 😂.Fantastic videos 🙏

Amazing thank you it helped me a lot to understand GAAP just in few minutes

👌

Can u pls make a video on us Sox compliance for internal accountants

Can INDIA CA/CMA students watch this ? Will it be helpful for INDIA CA/CMA?

Bill you are really awesome. Thank you for sharing the knowledge.

Crab cakes sound really good right now. I haven't had one in years, come to think of it!

Good explanation 👍