The BALANCE SHEET for BEGINNERS (Full Example)
💥Balance Sheet Cheat Sheet → accountingstuff.com/shop
🖊Balance Sheet Practice Questions → accountingstuff.com/practice-...
The 'Balance Sheet', or 'Statement of Financial Position' (SOFP) is one of the three major Financial Statements, along with the Income Statement and the Statement of Cash Flows. In this tutorial, you'll learn what a Balance Sheet is and I'll show you how to build one using a Trial Balance.
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
00:17 - Balance Sheet Definition
00:33 - What is a Basic Balance Sheet?
01:15 - What is a Detailed Balance Sheet?
02:18 - How to Make a Basic Balance Sheet
05:11 - How to Make a Detailed Balance Sheet
🔗VIDEO LINKS
▪ Income Statement → • The INCOME STATEMENT f...
▪ Balance Sheet → • The BALANCE SHEET for ...
▪ Cash Flow Statement → • The CASH FLOW STATEMEN...
▪ Book Review → • The Accounting Game - ...
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▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → geni.us/bNN7
▪ Xero (FREE TRIAL) → xeroamericas.grsm.io/ck90eoq1...
🔎FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
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DISCLAIMER
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#accounting #accountingstuff
Пікірлер: 535
⏱️TIMESTAMPS 00:00 - Intro 00:17 - Balance Sheet Definition 00:33 - What is a Basic Balance Sheet? 01:15 - What is a Detailed Balance Sheet? 02:18 - How to Make a Basic Balance Sheet 05:11 - How to Make a Detailed Balance Sheet
@jamongjuice
2 жыл бұрын
seriously, you are my new favorite channel on youtube. can't thank you enough for all the time and effort you put into this channel!
@estershimwafeni9083
Жыл бұрын
Thanks
@aprilannomega
9 ай бұрын
i have quetions please :) how do you get retained earnings values: 19700
@NasraAhmed-kl4gx
8 ай бұрын
Teacher how can I withrow my cash?
Can you teach professor's how to teach?
@felixhoang7407
Жыл бұрын
If my professor is this interesting.
@Lynnjoh
7 ай бұрын
😂
@Luke-gp2in
7 ай бұрын
lol same i feel you bro🤣
@fantomman3881
5 ай бұрын
Professors are poor MFErs 😂
@Whatareevenbirds
4 ай бұрын
Bro my professor tells us to make group presentations and lets my classmates and I teach/present to eachother while he scrolls through tiktok😭 Like damn, if i knew this was the case, I wouldn't have enrolled and just go to the public library. Less time and money wasted
Literally the best teacher ever - thank you so much for all the support
@AccountingStuff
3 жыл бұрын
Cheers Patrick!
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
@thek4lqueen
2 жыл бұрын
Ikrrrr better than any of my teachers
Just wanted to say THANK YOU, a year ago I got a job because of you, as one of your videos ended-up having all the answers to the questions the interviewer asked me : D. I laughed inside during the interview as I said " this guy saved my a**"
@AccountingStuff
3 жыл бұрын
Congrats on landing your job!!! That's amazing news. Hope it goes well :)
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
You genuinely breathe life into your educational accounting content. It can be a pretty dry subject to teach and learn, but you have found the secret to making it exciting and easy to learn. Great job!
@AccountingStuff
3 жыл бұрын
Thanks for your kind words!!
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
Damn, literally explained everything I needed to know about balance sheets in a 7 min video, waaaaay better than my uni lecturer did in 1.5 hours. Engaging, clear and concise!!! 10/10 from me. :)
@AccountingStuff
5 ай бұрын
Thanks! Great to hear you found it useful :)
you helped me more than what I am being taught at university, making it so simple and straight forward. Thank you so much!!
Thank you so much for the video, I really liked the video, you really put a whole semester in 6 minutes, and in easy terms, keep it up!
this is a LIFESAVER. i've been so confused and my test is ... in an hour. thank you for your service.
You are awesome James! Keep up the great work man. These videos are an amazing substitute for my Accounting courses. It's crazy how you can clear up so many things that wasn't clarified by my teacher for Financial accounting.
Your videoes are life-saving. Also thanks for your book suggestion "The Accounting Game" which I enjoyed reading. It helped me a lot to with the basics.
Greatest teacher in world. Learnt more in this video than I did in 4 months from my teacher. Much appreciated!
@mahirgamer489
2 жыл бұрын
true
James! Your videos are one of the most useful things in learning accounting! They have helped me a lot and I am very grateful for your channel! I wish all the bests to you! I hope this channel booms in popularity as anyone needs some basic accounting info to be financially literate!
@AccountingStuff
3 жыл бұрын
Thanks Anxhela! Great to hear you're enjoying these vids. All the best :)
Great Video. Very thorough & helpful
OMG!!!!! I finally got it! You made my life so much easier)
Your way of describing is incredible I just wanna subscribe your channel 1000 times Thanks for help, the day after tomorrow will be my interview
My best teacher ever. You make accounting simple. Thank you so much.
@AccountingStuff
3 жыл бұрын
Thanks!!
Amazing 😍 finally I got the perfect Sir for accounting ❤️
Great tutorial! Its very informative and fun at the same time. You definitely put a lot of effort in your content to make accounting easy to learn!
@AccountingStuff
7 ай бұрын
Thanks for your kind words!
wow you are the best teacher ever !!!! thank you !!!!
This was an amazing video, thanks so much 😊
I enjoyed this so much. I am transitioning from Human Resources to Accounting and Finance. This has really helped with my understanding.
@AccountingStuff
10 ай бұрын
That's great to hear! All the best with your career change
Well done! You make it interesting!
Another great content from your channel!
u are amazing and ur explanation is also so cool, I would like to continue learning from u. Thank you
Thank you so much for your help. This video and your videos on income statements have really solidified my understanding of the concepts.
@AccountingStuff
Жыл бұрын
You're very welcome!
Had just 2 lectures, and I'm already feeling the stomach ache of failing the class :D You're my only hope!
Thanks so very much for your common sense approach to Accounting, I appreciate you.
@AccountingStuff
3 жыл бұрын
No worries, hope it helped!
Always nice diagrams with movements that make the tutorial exciting. Also, nice idea putting the "wrong way" to create the B/S. It's these conceptual details that need to click. Great job making this vid!
thank you so much I was struggling in Prin of Financial Accounting
Thank you so much for this good and great explanation. I have subscribed to your channel and I will keep learning with your videos.
Great job!!! Clear, concise and engaging. Will definitely recommend.
@AccountingStuff
2 ай бұрын
Thanks, great to hear you found it useful!
Love your teaching
Thank you so much, your videos helped me a lot to achive good marks in the exam.
Your videos are helping me through my first year of accounting school- and propelling me towards the career change I need! Please keep it up :)
@AccountingStuff
3 жыл бұрын
Best of luck with your career change!
thanks James youre a star
you got me through my last accounting class. Thanks mate!
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
Your teaching methods are so simple and clear .. You are simply amazing !!!
@AccountingStuff
5 ай бұрын
Thanks, glad you enjoyed it :)
Your videos and cheat sheets are so great!
@AccountingStuff
3 жыл бұрын
Thanks Annelie!!
You're a scientist who makes things simple!
you make every video so interactive......keep up the good work sir!
@AccountingStuff
9 ай бұрын
Thanks, will do!
You’re amazing !!!! I just ordered the complete practice / cheap package !!!!
@AccountingStuff
11 ай бұрын
Thanks for your support!
This was so much easier to understand than my accounting book. 😭🙏
amazing help, thank you
I will be taking Accounting this spring for my MBA here in Canada and your teachings have been absolutely brilliant. I am certain to have the best result!!
@AccountingStuff
3 ай бұрын
That's good to hear! Best of luck when it comes round :)
Thank you for this!
Awesome! Very useful :D Thank you so muchhh
You made difficult easy to understand what a great facilitator you are.
@AccountingStuff
Жыл бұрын
Cheers Fred, glad to hear it!
you dont understand how much I appreciate this video. Thank you.
@AccountingStuff
9 ай бұрын
Great to hear you found it useful!
Really appreciate your efforts..so easy to understand.👍
@AccountingStuff
3 жыл бұрын
It's my pleasure, all the best!
This was incredibly helpful! Subscribed immediately
@AccountingStuff
10 ай бұрын
Wooo! Great to have you on board!
Thank you for these videos, really makes a difference. Ive been taking business classes for years and these videos make me realize they dont teach hands-on experience. Thank you again
@AccountingStuff
3 жыл бұрын
Cheers mate! Hope your studies are going well
Brilliant explanation, thank you!
@AccountingStuff
3 жыл бұрын
Cheers Rajeet :)
Hi James, Good to see your video again. As always Best financial helper
@AccountingStuff
3 жыл бұрын
Cheers Derick!!
Well, I think I've watched enough of your videos for this week of class for you to earn a sub. Thanks. Not sure if I'm doing it all to my professor's liking, at least I'm not totally lost now.
@AccountingStuff
2 жыл бұрын
Great to have you on board! All the best with your studies :)
literally have a financial accounting exam in a few hours and this was helpful! Thank youuu
@AccountingStuff
6 ай бұрын
Good luck!!!
@satisfyingsauce3051
6 ай бұрын
@@AccountingStuff thank you! a lot of it came up so I’m very grateful for the amazing accounting vids😊😊
thanks ,very helpful
Perfect timing💜💜💜
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
Your explanations clear my all doubts Thanks a lot sir it's really help me for my exam🤗
@AccountingStuff
3 жыл бұрын
Best of luck in your exam!!
Thank you for this video. It was very helpful for my college entrance exams!!!
@AccountingStuff
3 жыл бұрын
No worries, best of luck with them!
Thanks a lot for your videos.🥰
@AccountingStuff
3 жыл бұрын
You're most welcome ;)
Another great video much appreciated
@AccountingStuff
3 жыл бұрын
Thanks Taylor!
Fantastic explanation!
@AccountingStuff
3 жыл бұрын
Thanks Surendar!
You’re the type of teacher I aspire to be, keep up the great work
@AccountingStuff
6 ай бұрын
Thanks and all the best :)
Thank you so much
I really understand how to make a balance sheet.Thanks\
Thank you, great illustration
@AccountingStuff
7 ай бұрын
You're welcome :)
Wonderful James! Having a Financial accounting midterm test tomorrow, hope I will do well.
@AccountingStuff
3 жыл бұрын
Good luck!!!
Excellent video. Thank you.
@AccountingStuff
6 ай бұрын
You're very welcome :)
you just saved my life
Such a goodddd videoo!!
I was in total lost for this module thank god u saved me!
Learning is so simple and easy . You are a great facilitator. Can you please do a video on consolidation?
@AccountingStuff
11 ай бұрын
Thanks for your request!
helped me solve a question i was stuck in for days. thank you so much :D
@AccountingStuff
7 ай бұрын
No worries, glad it was helpful!
Cool presentation !!
@AccountingStuff
3 жыл бұрын
Thanks Srikanth!
Very well explained!
@AccountingStuff
3 ай бұрын
Thanks!
Excellent! Thanks
@AccountingStuff
2 жыл бұрын
Cheers Andrea :)
Much love sir 🏆💟
Please never stop make ng vids, humor is great thank you!
@AccountingStuff
4 ай бұрын
Thanks, I'll keep them coming :)
Best explanations of accounting terminology & process I’ve found! Have you made any on ratios?
@AccountingStuff
3 жыл бұрын
Not yet, but I'm planning to make a whole series on them
@lizo8925
3 жыл бұрын
@@AccountingStuff oh yes! Please do 🙏
Hey dude I just bought your cheat sheets! Amazing Content!
@AccountingStuff
3 жыл бұрын
Cheers for your support! All the best :)
Thank you for existing😭😭
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
Thank you!!! Retained freaking Earnings is what I was missing :-)
You are amazing👍
This explanation is the best one I have ever watched. Could not be explained concisely than this.
Keep up the good work(especially the videography)!
@AccountingStuff
7 күн бұрын
Thanks, I'll keep working on it!
Hi, James! I want to thank you for these videos. They really helped me nail a job at an audit firm. Best of luck in the future!
@AccountingStuff
3 жыл бұрын
Congrats on landing your job!!!! Hope it's going well
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
You made balance sheet really easy for us! Big fan of your channel 🌸
I'm in love with your video teachings, you make it so simple. Thank you🙏
Perfect!
@AccountingStuff
2 жыл бұрын
Cheers Blaise!
it helped me a lot, thanks
@AccountingStuff
11 ай бұрын
Glad to hear it!
Always the best , God bless you
@AccountingStuff
2 жыл бұрын
Cheers Mahdi!
Excellent
Thank you very much, you are a good teacher.
@AccountingStuff
Ай бұрын
Thanks, that's kind of you to say :)
Thank you james 👍🏻✨
@AccountingStuff
3 жыл бұрын
You're welcome :)
Ooh..u made me remember the days I was doin' B.Com..
Please don't stop making these videos bro ❤️
@AccountingStuff
3 жыл бұрын
I plan to make plenty more :)
very helpful, Thank you
@AccountingStuff
Ай бұрын
No problem, glad you enjoyed it :)
Man you put so much effort into these educational videos, it's hard to not subscribe and like your videos! Cheers mate!
@AccountingStuff
3 жыл бұрын
Thanks Reiner!!!
@de-kingstutor
3 жыл бұрын
Awesome, also have an accounting channel, you can check it out
I don’t even know why you don’t open up a University …. You are spot on👌🏾👌🏾👌🏾👌🏾👌🏾