20 Replies to “Accountancy Basics Explained Through a Story”

  1. Time stamps:
    00:53 Claudio’s Beach Business
    02:13 Income Statement (which is Revenue – Expenses)
    03:31 Balance Sheet
    06:21 Claudio’s Balance Sheets at different points in time

    1. Hey Dear Leila Gharani! You can explain much better than anyone else. I suggest you to make more videos on accounting and finance using Excel and SAP, especially SAP.

  2. Really enjoyed and have more benefits very simple way in this introduction i would be happy if you share more valuable videos in accountancy… I’m really interested

  3. IS –> to find out profitability of business
    includes
    IS includes
    Sales/revenue, – COGS (how much he paid), = and net income

    balance sheet –? shows company’s assets, liabilities, owner’s equity (leftover money owed by owner)

    T account
    Assets to the left, OE and L to the right

    Assets = L + OE
    both sides are always in balance, hence name balance sheet

    net income links between IS and balance sheet (you include net income in BS)

  4. If you keep telling everything about accounting in such a soft and smooth tone, I am surely to overcome my Numbers anxeity. Thank you so much!

  5. Nicely explained. By the way, just for information, there are

    25 types of accounting

    And

    31 types of stock
    28 types of profit
    28 types of inflation
    21 types of expense
    20 types of capital
    20 types of balance-sheet
    19 types of market
    17 types of audit
    08 types of goodwill

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