How to create Financial Statements from scratch! A step-by-step guide!
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In this video we’ll start a new business, put in some capital, conduct transactions for 1 month and then record the transactions, create a trial balance, and then financial statements.
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Пікірлер: 358
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Great work! You gave me more in 19 minutes than a whole semester of business finance!
@onpointskills2402
Жыл бұрын
Thank you alot
@utgfam876
Жыл бұрын
I agree 100%
@gundalalebona262
10 ай бұрын
Indeed your one lesson was more valuable than the many I attended. You are appreciated❤❤❤❤❤❤❤
Love the acronym. I remember learning another one: All Dogs Eat, Cute Little Red Rabbits (Dr.) Assets / Dividends / Expenses (Cr.) Common stock / Liabilities / Revenue / Retained earnings
@saacidkaftan4795
Жыл бұрын
What is that acronym
The way you explained T-accounts is so much easier than the class I'm taking. Thank you for making this video and simplifying it. Subscribed!
As a business owner with no accounting background, this is really easy to follow. Thank you!
@TheFinancialController
Жыл бұрын
Glad it was helpful!
This is amazing! Would love to see a more complex example with different types of accounts (Accum depreciation, depreciation, Liabilities (short and LT) etc, Thank you !!!
This is the best accounting class I've ever attended all my life, really broke down the principles to a basic level God bless you
Crisp and clear Wish I had a mentor like you when studying..!
Excellent presentation! I've never had formal training and it was learn-as-you-go from my counsellors at SCORE (SBA), trial and error. Thanks!
LOVE THE ACRONYM! It's genius
@TheFinancialController
3 жыл бұрын
Glad it’s helpful
I’m so glad you made this video! I learned more than the three accounting classes I took in college
This is perfect! Examples are so helpful to me and I need to see every step along the way. Thank you!!
@TheFinancialController
2 жыл бұрын
Great!
Thank you!! takes me back to accounting class in college- appreciate this content man.
Just watched and took notes from the video you did 2 years ago. Now I'm excited to watch this one. Thank you!
@TheFinancialController
3 күн бұрын
Glad it was helpful!
I learned more here than a month's-worth of other sources. You explain this very well. Looking forward to watching all of your content - thank you!!
@TheFinancialController
Жыл бұрын
Thanks Jeff!
One of the best videos I've seen that covers the transaction process from start to finish. Clear, concise and easy to understand. Thank you very much!
@TheFinancialController
10 ай бұрын
Thanks Marty
Your videos are a blessing. Thank you for taking the time to share your knowledge.
Love the content. What a great teacher.❤️. Hats 🎩 off to you Bill 👒
Omg this was sooo much help thanks so much the videos from my professor have not taught me anything at all this is wonderful
Very simplified way of explaining and breaking down everything!
Thanks a lot! Finally know how to do it the day before my test. Very clear and simplified!✨
@TheFinancialController
3 жыл бұрын
Glad it’s helpful!
@rebsalamify
Жыл бұрын
Totally same thing happened to me seen 100 videos all confused me more and more except for this one.
@wingfieldhlazojunior6237
10 ай бұрын
@@TheFinancialController Amazing lesson. I am kindly requesting for the link to download the free financial statements spreadsheet. Thanking you in advance 🙏🏽
@krishnanseshamanikrishnan1950
5 ай бұрын
@TheFinancialController do you give have tuitions or trainings ?
Thank you Mr. Controller… keep up with such highly admirable work !
Thank you for your clear and smart presentation. it enables to recall and do better accounting processes.
Great big Overview of the Process from entries to Fin Statements! Thanks for your work!
@TheFinancialController
3 жыл бұрын
Thanks Abraham!
The world deserves more teachers like you! Good job Sir! Thank you for simplifying these concepts..
@TheFinancialController
2 жыл бұрын
Thank you for the kind words!
@rebsalamify
Жыл бұрын
Well said 👏
very simple and well explained thank you so much!
Thank you so much!! I literally needed someone to work through a problem from start to finish--Thank you--Online courses without instructor videos are brutal. You are so appreciated.
Brilliant information for a small startup company... Thanks so much! Great Video
You have no idea how much your videos have helped me in my career in the last year. Realized you worked at Sprout as well in the past too. Thanks for all of this.
@TheFinancialController
Жыл бұрын
Thanks Ramon!
I'm so glad to come across this information . Thank you!
Straight to the point bro. Thanks
Thank you very much, sir! You really saved me as tomorrow I have test...
OMG! super helpful... you make it easy to understand... thank you!
Thank your these refresher videos, very helpful indeed.
Thankyou for this video! I'm applying for accounting clerk and this explains a lot better✨
Retained earnings explained in a way that doesn’t make my brain ache! Thank you! 🎉
Finally, English! Not sure why the textbook makes it seem so much more complicated. Got through 3 intermediate classes struggling through journal entries and the correlation on how to go through each step. Thank you so much
@TheFinancialController
Жыл бұрын
Great to hear!
very comprehensive and compact concepts to understand accouting ,thanks
You have opened up my mind ! Your genius ...hat off !!
Very well articulated and simplified, great work man!
@TheFinancialController
3 жыл бұрын
Thanks evans!
@evansjuma3831
3 жыл бұрын
@@TheFinancialController I'm still waiting for your Tutorial on ''KPI's- Advanced Level'', the beginners level was very insightful
Great job Bill! Really good at breaking things down. Very useful content 👍🏽
@TheFinancialController
3 жыл бұрын
Great thanks!
@dixonlemayian7335
2 жыл бұрын
Hi shannon
Thank you! Concise and clear instructions! You've certainly made my learning fun!
@TheFinancialController
2 жыл бұрын
Thank you for the kind words
Thank you ...you are my new teacher now
Great content! This is the first video I've watched from you, and I learned a lot. You earned my subscription in just one video. You're an inspiration! Keep it up, and thanks a lot.
@TheFinancialController
2 ай бұрын
Welcome aboard!
Thank you so much Sir Arthur, now I know on how to prepare FS, JE, TB, and etc :)
Easy to understand. Great job
Amazing!! Amazing !! Amazing !!, this video was sooo helpful and clear. Thanks a lot
Such an amazing teacher. Thank you for being a blessing to us all
@TheFinancialController
Жыл бұрын
You are so welcome
taking a booking keeping class online and i was drowning. Thanks for breaking things down the way you do certainly filled in some holes for me!
Honestly the best explanation I have ever seen
Amazing work! Very informative and simplified 💯
@TheFinancialController
2 ай бұрын
Glad it was helpful!
Thanks for the video, great explanation
Thank you, this lesson is very valuable!
Wow! This video is totally underrated and should have a million hits. Great job making something so challenging so simple to understand.
@TheFinancialController
2 жыл бұрын
Thanks for the kind words
Thank you very much. For the first time, even after university degree do I understand this statements logically. May God bless you. I liked and subscribed. It was worth it.
@TheFinancialController
Ай бұрын
Glad it was helpful!
Simple and clear. Thank you
@TheFinancialController
5 ай бұрын
Glad it was helpful!
Thank you so much. From your explanation, i could figure out that, income statement should be made before the balance sheet
@TheFinancialController
3 жыл бұрын
You got it, correct. First income statement then balance sheet, and then cash flow statement.
Wow it’s great very simple explanation
Really easy to understand .never got it this straight in my academics.thnx again
@TheFinancialController
3 жыл бұрын
Thanks!
You made it look so. I just got an A on my exam !!! 👏🏽👏🏽👏🏽👏🏽
You are a great lecture,I have learned what I haven't learned in school from you thanks so much God bless you sir
THA K YOU SO MUCH... YOU MY GOOD SIR JUST GAIN A NEW SUBSCRIBER... I took a whole semester and passed the class with an A, but I didn't understand a thing until now. That's because I was studying to pass the class, not to actually understand.
This is so helpful and so well presented! Thank you!!
@TheFinancialController
8 ай бұрын
Glad it was helpful!
Hi, I’m in Durban , South African 🇿🇦 and just watched this whole video today 2022/05/10 and you explain things so simple. Thank you for you time & the amount of work you put in for this content it really helped me.. I’m just a beginner to this world of Accounting
@financestrategist2137
Жыл бұрын
Read and watched like 10 articles in combine for the past few weeks.... Stumbled on this yesterday making this the eleventh (2022/09/28) and now the previous 10 all makes sense... Like was I sleeping since 😂😂😂.... Really appreciate him for the basics, some people like me, understand better when you are able to explain, define and illustrate the basics of a concept with the most creative ways possible.... This guy did that .... To his surely is going to be my Go to channel in my career on finance
Very nice and simple. You sir, made it look so easy
@TheFinancialController
6 ай бұрын
So nice of you!
Thanks much. I love it...subscribed!!!
@TheFinancialController
2 ай бұрын
Awesome! Thank you!
I just hand in an assignment and purposefully left off the financial statement because I just did not know how to do it, and I was working against the clock. I come here because I believe I owe it to myself to get a better handle on this. Thanks for your video.
@TheFinancialController
7 ай бұрын
Glad it was helpful!
Thanks a lot! It's very clear and helpful
thank you so much!! It finally makes sense
@TheFinancialController
24 күн бұрын
Glad it helped!
Way of teaching is very comprehensive.
This is also one of the very important questions in my accounting interview!👍👍
@TheFinancialController
3 жыл бұрын
Great thanks 🙏
Hello Bill! I have an interview for a junior FP&A role next week for a big bank here in NA. I want to thank you for these videos, you helped me get up to speed with all my knowledge from University (Finance Major) and I'm much more confident now for this interview. Hope to see this channel grow!
@TheFinancialController
3 жыл бұрын
Thanks Emmanuel and best of luck 🤞
@emmanuelscordos2240
3 жыл бұрын
@@TheFinancialController Thank you Bill! Its the 2nd round interview and its with the recruiting manager (3rd interview would be the last and it would be with the hiring manager). I'm contemplating if I should ask questions regarding for example certain industry trends/challenges or more specific questions to some elements from their financial statements. Would that be a bit too much? (Example, I noticed the firm's liquidity seems relatively high, how does "Bank Name" plan on facing the post-pandemic challenges of lower demand for loans/mortgages?"
@susanaafful2654
2 жыл бұрын
You so good. Easy to understand.which initially feared.thank you so much
Not subscribing to this channel would be INAPRRIOPRIATE!!!...This is so excellent..I can boldly say, with this, excelling in my CPA exams is guaranteed..
@TheFinancialController
Жыл бұрын
Haha thanks so much Shadia!
This is really wonderful 🙏🙏👌you made me understand very well
@TheFinancialController
5 ай бұрын
Glad it was helpful!
Okay!!! You are an amazing teacher and you just earned a subscriber. I was writing a business pitch and I was asked of my financial statement. Watching your video got me feeling like I have known this before now.....PS:: I am a science student and know nothing about accounting. Thank you so much sir. I love you
@TheFinancialController
Жыл бұрын
Thanks Lilian!
Such a great teacher. Thank you
@TheFinancialController
7 ай бұрын
You're very welcome!
As always very good explanation. I just had one request, could you please make a video on preparation of monthly, quarterly and annual financial statements and important steps to remember while preparing for the same. Keep up the good work!
@TheFinancialController
3 жыл бұрын
Thanks 🙏 will do
@akufia3524
3 жыл бұрын
@@TheFinancialController will be waiting. definitely subscribed.
I started a business and had to go back and re learn accounting. Spent my college days following stocks lol. This video was super helpful thanks for sharing!
@TheFinancialController
2 жыл бұрын
thanks brother
Great videos! I have been watching two days in a row😄
@TheFinancialController
3 жыл бұрын
Fantastic! Happy learning
Thanks very much for making this really easy to understand. Love your vids
@TheFinancialController
Жыл бұрын
Glad to hear it!
Thank you . Was so easily explained
@TheFinancialController
7 ай бұрын
Welcome 😊
I am passing my midterm because of you ! Thank you thank you !
Amazing teaching technique ..wowwww it took so much time to understand in college time but its look very simple ...u r great
@TheFinancialController
5 ай бұрын
It's my pleasure
wow made my life easy thank you
Thank you for the videos, great resource. Would you be able to do a video on Financial Consolidations basics?
Sir wonderful teaching method
It's very useful. Thanks for this Video
Very informative Thank so much !
Thanks , benefitted a lot
Thanks man u helped me alot.
hey great video! very clear to understand! just wanted to make aware "expense" is missing the "e" at the end!
Amazing teacher! ;)
totally useful and great, Many thanks
oh my gosh! this video is an EXCELLENT crash course in accounting. I studied business in school but really needed to refresh my memory of accounting to complete some financial statements for an NGO that I volunteer with. thank you so much.
Thanks so much Simply you good facilitator
wow Thank you very much, Sir
You are such an excellent teacher. Not to be selfish but please post more videos. Thank you 😊
@TheFinancialController
3 жыл бұрын
Thank you!
Thanks a lot sir keep up the good job
this is exactly what i needed. thanks a lot
@dixonlemayian7335
2 жыл бұрын
Hello grace
I admire your work... great one...