Thank you! Your videos have been enormously helpful!!! I have some ideas for future topics: the closing process, recording closing entries, and post-closing trial balances. I'm having a hard time understanding these from the my textbook...I think I'm spoiled from watching your videos. :)
@@tanyapanfil Hey Tanya, apologies for my late reply. I have only just seen this comment. Cheers for your suggestions, I'd like to cover those at some point
Hi, I'm new to your channel, but find it very helpful. I was wondering if you could do a follow-up video dealing with the type's of errors that can occur within a trial balance and how to correct them. Thanks for all the great videos that you've already produced.
@@AccountingStuff Man, My Master's public finance courses are actually using your videos straight from the beginner's playlist. I've watched 4 of yours in a row now today. I noticed there are never ads when they play so I hope you're being compensated for LITERALLY TEACHING ME MY MASTERS COURSES. ffs... they are really good and helpful though.
Your truly a blessing my guy!!! I was stuck on my homework not having a clue whatsoever I watched the first 5 videos of your series and now I feel extremely confident on how to do these journals plus I finished my homework with no problem. Again thanks a lot!!!!
Yeah actually, I am. Sick of barely understanding my accounting class, this guy seems to keep it simple and clean so I'm looking forward to maybe finally understanding this.
I needed some help to better understand how to do this. 2 hrs of the instructor explaining it - didn't make sense. 8mins of this video - wow, this isn't as difficult as i thought. Thanks for posting this!
Seriously, this should be required viewing for all people about to launch into any accounting anything. Thank you for such an accessible and easy to follow training for accounting.
I have spent hours working through accounting class, and not grasping a thing. I watched your videos, and now I am starting to make sense of everything. I have literally 13 days to pass my final exam in this class, and these videos are doing more for me than my study guide and textbook.
I am so glad I came across your videos. I never thought someone could teach chapters after chapters in 10-11 mins videos. I love how you grasped the concept and giving us a new perspective to see accounting, it doesn't seem scary anymore. Thank you
Hello brother, Thanks Alot. i Did my bachelor in Business adminitration, in which i took various accounting courses. All of those concepts are being revised through your videos, with much greater understanding. Thanks.
I have been watching your videos over and over again for the past two days because I could NOT grasp the idea of how to complete the financial statements. Your explanation of the Trial Balance sheet was incredible and it unclogged whatever block I had in my brain! The best part of the video (what really helped me at least) was when you took the trial balance sheet and transformed it into the balance sheet. After that, something clicked and I was able to understand how the two sheets are related. From there I was able to complete the income statement and next I am going to try the Statement of Cash Flow and Changes in Equity! THANK YOU for making what I perceived as impossible, Possible! YOu are truly an amazing teacher!!!
Thankful for you! I am struggling on Sophi's Learning Financial Accounting course and was able to watch your videos to grasp the concepts a bit better.
Hi! I know its been a few years, but I just wanted to pop a question for you if you're available to answer. From what I'm understanding of all of the financial statements, the journal entries record every transaction that occurs within the business. You then have to record each of these transactions twice more, twice each, into the general ledger and the trial balance. Then you can go on to use the general ledger to fulfill the balance sheet, and use the trial balance to fill out the P&L statement as well as the cash flow statement. is this all correct? I guess my biggest question is just knowing how the sheets interact and fulfill each other. It's feeling like I have to input every single transaction the company makes six different times across 3 different documents. Which I get it, that's why there is now accounting software. But I am really dedicated to understanding the basics so I'm doing everything manually right now. Anyways does all of that sound correct? Thanks so much for your time and all the work you have put into teaching these topics. It has saved me!!!
Awesome videos, hands down the best explanations of anything I have studied. Gotta love the ads I'm getting as a result of these. Ocean cleaning projects (like your brothers) and window cleaning products! Years of struggling with accounting, tediously going through poorly laid out textbooks and awful lectures. Accounting has driven me insane, but these videos have made it easy and exciting to learn, something I never thought possible! Keep them coming! Subscribed, liked and commented.
Hey Pranjal! I'm glad the Trial Balance makes sense to you now. I have had a few requests for depreciation so I will look into make a video on that in the future. Thanks for your suggestion 👍
I absolutely love your videos! You make accounting so simple. I'm using your videos to help teach my high school accounting classes and my college course. You are wonderful! Keep them coming!
Hello - I want to start out by saying I absolutely LOVE your videos - they are engaging and highly effective at breaking accounting concepts into readily learned tidbits! I'm taking Financial Accounting for my MBA and struggling with one type of quiz question - determining the impact of an error on one of the financial statements. I understand the underlying concepts in the correct answer, but my brain just shuts down when I come across one of these problems: Which of the following errors on a firm’s adjusted trial balance would cause errors in the firm’s retained earnings statement but would not affect its income statement nor cause its balance sheet or its adjusted trial balance to be out of balance? A : understatement of the Unearned Service Revenue amount by $200 and overstatement of the Dividends amount by $200 B : overstatement of both the Unearned Service Revenue amount by $200 and the Dividends amount by $200 C : none of these errors would lead to the scenario described above. D : overstatement of the Unearned Service Revenue amount by $200 and understatement of the Dividends amount by $200 Especially the questions that pull in all of the financial statements: Q 4.152: After preparing its financial statements for November, Unique Interiors notices that its income statement shows total expenses that are $200 too high and total revenues that are $300 too low. What effect will these errors have on Unique’s balance sheet for the month, assuming all other account balances listed on that sheet are correct? A : These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $100 higher than its total assets amount. B : These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $500 lower than its total assets amount. C : These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $100 lower than its total assets amount. D : These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $500 higher than its total assets amount. Any advice?
Great video !! 1) Can you also make a video about "what is a GL Accountant?" ? 2) Can you also make a video about "what is an aging report?" ? 3) Can you also make a video about "what are Intercompany Invoices?" ? 4) Can you also make a video about "what are financial ratio's?" ? 5) Can you also make a video about "Month end closing explained" ? :D looking forward to your next videos ;)
This was so helpful man. I had to create a trial balance as part of a business assignment for my engineering degree. Couldn't wrap my head around it before this video!
Thanks so much James! I am trying to finish the Accounting Basics series and I hope this can help me organize financials for my small business. You've left a great legacy
You are really amaizing you are the one who taught me all the accounting stuff . If i pass my commerce exams all the credits will go to you . Thank you
I am sooo glad I found your channel because I have an exam this afternoon.....will definitely be needing to watch your other videos for reference for future exams😩💯.....thanks much dude 🙌💯
If i could hve just seen this channel earlier i would have topped 11th Because of this channel im finding accounts really interesting Thank you so much. Nathan here from india
Amazing video, as usual! I have 2 questions: 1. The trial balance it's quite similar to the balance sheet... what are the differences? 2. How often are calculations for all the accounting statements and sheets done? Is it once a year? Monthly? Daily? I'm studying for my uni exam. Fingers crossed I pass this semester! :)
Thanks! 1. I'd recommend watching this video: ruclips.net/video/q7Nhj8vDD8M/видео.html 2. With modern accounting software the Trial Balance tends to be updated in realtime as transactions are entered. Financial Statements are prepared Monthly, Quarterly or Annually depending on when the business needs them
Oh man, you are awesome. This is how we need to understand anything in our life. Appreciated the way you use your brain to learn and thank you so much for sharing this in a very effective and easy way to others.
Hope you found the video useful. As always, suggestions for future topics are always welcome
Can you please help me with my accounting assignment?
Thank you! Your videos have been enormously helpful!!! I have some ideas for future topics: the closing process, recording closing entries, and post-closing trial balances. I'm having a hard time understanding these from the my textbook...I think I'm spoiled from watching your videos. :)
@@tanyapanfil Hey Tanya, apologies for my late reply. I have only just seen this comment. Cheers for your suggestions, I'd like to cover those at some point
Hi, I'm new to your channel, but find it very helpful. I was wondering if you could do a follow-up video dealing with the type's of errors that can occur within a trial balance and how to correct them. Thanks for all the great videos that you've already produced.
hi, from trial balance can u show how to make income statement and balancesheet
Who else learning accounting from this guy during quarantine?🙌🙌
Me
Ayeee me
me
Meeeeee
🙋♂️🙋♂️🙋♂️
Why am I paying $1800 for a semester of accounting 101 when I can learn on youtube. RUclips should start giving out degrees.
Thanks Jonathan!
Literally just went on a rant about this to my roommate like this is teaching me so much more easily
@@AccountingStuff Man, My Master's public finance courses are actually using your videos straight from the beginner's playlist. I've watched 4 of yours in a row now today. I noticed there are never ads when they play so I hope you're being compensated for LITERALLY TEACHING ME MY MASTERS COURSES. ffs... they are really good and helpful though.
These courses don't even teach us anything n we kinda have to self learn most stuff.
its more easy to learn in youtube than how a prof discuss, lol
Your truly a blessing my guy!!! I was stuck on my homework not having a clue whatsoever I watched the first 5 videos of your series and now I feel extremely confident on how to do these journals plus I finished my homework with no problem. Again thanks a lot!!!!
Nice one! Glad it's going well
Who else is super excited about going through all these tutorials?
Meeeee
Yeah actually, I am. Sick of barely understanding my accounting class, this guy seems to keep it simple and clean so I'm looking forward to maybe finally understanding this.
I’m in finance, but having a solid accounting understand is critical. They help a ton!
As an accounting freshman, words cannot describe how helpful you've been. Thank you so much.
No worries, I'm happy to help!
I needed some help to better understand how to do this. 2 hrs of the instructor explaining it - didn't make sense. 8mins of this video - wow, this isn't as difficult as i thought. Thanks for posting this!
No worries Connie, glad it's making sense!
The production level compared to all the other accounting vids is amazing.
Seriously, this should be required viewing for all people about to launch into any accounting anything. Thank you for such an accessible and easy to follow training for accounting.
I am in online class with no instructions. Just textbook reading and assignments. Thank you for the videos! Definitely a lifesaver!
Best of luck with your studies :)
Whos here before an exam
😂
Me😢
Me
Me
I neco
I have spent hours working through accounting class, and not grasping a thing. I watched your videos, and now I am starting to make sense of everything. I have literally 13 days to pass my final exam in this class, and these videos are doing more for me than my study guide and textbook.
Great to hear it's clicking for you. 13 days is still a decent amount of time. You've got this!
I am so glad I came across your videos. I never thought someone could teach chapters after chapters in 10-11 mins videos. I love how you grasped the concept and giving us a new perspective to see accounting, it doesn't seem scary anymore. Thank you
Great to hear it's clicking for you :)
I had forgotten the basics of trial balancing. Thank you for refreshing my memories.
Hello brother, Thanks Alot. i Did my bachelor in Business adminitration, in which i took various accounting courses. All of those concepts are being revised through your videos, with much greater understanding. Thanks.
Great to hear you're finding these videos useful! All the best :)
These are way higher production value than any other accounting/finance videos on RUclips. Well done!
Cheers, I'm glad you think so!
Why on earth does an accounting tutorial channel display some of the highest production value and filmmaking technique on the platform. I’m in awe.
Thanks bud :)
You have no idea how much your videos are helping me with my homework!! my textbooks are just not explaining this simply.
I was lost in accounting before watching your videos…now I have found the way…Shout-out to you James
This guy's a genius. He's helping us to learn easier.
Best accounting tutorials on RUclips. You keep it simple and straight to the point. Thank you very much.
Thanks Lakshmi! Glad you're finding the videos useful. All the best!
He is best teacher
I have been watching your videos over and over again for the past two days because I could NOT grasp the idea of how to complete the financial statements. Your explanation of the Trial Balance sheet was incredible and it unclogged whatever block I had in my brain! The best part of the video (what really helped me at least) was when you took the trial balance sheet and transformed it into the balance sheet. After that, something clicked and I was able to understand how the two sheets are related. From there I was able to complete the income statement and next I am going to try the Statement of Cash Flow and Changes in Equity! THANK YOU for making what I perceived as impossible, Possible! YOu are truly an amazing teacher!!!
Thank you so much for this breakdown, I didn’t understand much in my accounting class but your videos are so helpful.
No worries, all the best with your studies!
watching these videos after reading the chapter in my book make everything so much clearer! thank you for your channel !
Nice one, glad it's making sense!
Thankful for you! I am struggling on Sophi's Learning Financial Accounting course and was able to watch your videos to grasp the concepts a bit better.
Great to hear it's clicking for you
Your videos are simple, straight to the point, and very entertaining! Please keep it up! Well done!
Thanks for your kind words :)
That is a good teacher. he is good at explaining
This video is a gem in the accounting world!
Thanks! Glad you think so
Thank you. You always help me with accounting
Happy to help!
Again, thank you for simplifying this!!! Laying it out in a Working TB HELPED me UNDERSTAND how to complete a TB.
No problem, glad you found it useful!
we love you James.God Bless you.from a homeschooling mom.
I am preparing for Chartered Accountant and your videos really helps me sir, thank you
And now I regret why I missed out on these tutorials last year.😭you are super good and fun at explaining.
Thanks for your kind words :)
Am glad I found this channel at the right time
This is one of the channels to learn about accounting, you have done an amazing job! Salute to you.
Cheers Mortaza!
Wow, this was so helpful. In one video, you've become my new favourite RUclips channel. Thank you!
Happy to hear that!
Hi! I know its been a few years, but I just wanted to pop a question for you if you're available to answer. From what I'm understanding of all of the financial statements, the journal entries record every transaction that occurs within the business. You then have to record each of these transactions twice more, twice each, into the general ledger and the trial balance. Then you can go on to use the general ledger to fulfill the balance sheet, and use the trial balance to fill out the P&L statement as well as the cash flow statement. is this all correct? I guess my biggest question is just knowing how the sheets interact and fulfill each other. It's feeling like I have to input every single transaction the company makes six different times across 3 different documents. Which I get it, that's why there is now accounting software. But I am really dedicated to understanding the basics so I'm doing everything manually right now. Anyways does all of that sound correct? Thanks so much for your time and all the work you have put into teaching these topics. It has saved me!!!
You are the best teacher for accounting
Thanks Aisha :)
an absolute life saver finally helping me make sense of my university accounting course thank you
This channel is saving my LIFE
You are amazing! Thank you for making accounting a lot easier to understand even for newbies like me. God bless you 🙏
No worries, glad you're finding these videos helpful :)
I literally just learnt a whole lot of things in 2 days. Thank you so much
Awesome videos, hands down the best explanations of anything I have studied. Gotta love the ads I'm getting as a result of these. Ocean cleaning projects (like your brothers) and window cleaning products! Years of struggling with accounting, tediously going through poorly laid out textbooks and awful lectures. Accounting has driven me insane, but these videos have made it easy and exciting to learn, something I never thought possible! Keep them coming! Subscribed, liked and commented.
Thanks Matthew! Haha, my bad!! That is too funny. Cheers for the support! I'm glad to hear that you're getting into it now
Thanks alotttt
i thought i was in trouble but this video helped me a lot ♥️♥️
Thank you for teaching me how to make the trial balance
Great info. I just received my copy of The Accounting Game
i am in class 11 i came across this video from google, this channel is amazing.
he explains so clearly
love from india
Hey! Ur explanation was mind blowing yr👍👌 because of u i understand trial balance...😊 Can you plz explain depreciation chapter please 🙏🙏🙏🙏
Hey Pranjal! I'm glad the Trial Balance makes sense to you now. I have had a few requests for depreciation so I will look into make a video on that in the future. Thanks for your suggestion 👍
@@AccountingStuff your most welcome dude😆
I appreciate for your hard work to make such great video helping us understand more about how to make trial balance. God bless you!!❤❤❤
Thanks, great to hear you're finding these useful :)
i appreciate your fantastic work
Thanks mate!!
James, you are my hero! Thanks for making so easy to understand accounting!
Hey Gabriel, you're very welcome! I'm happy to help :)
Thank you so much for sharing!! I hope my accounting test will pass tomorrow :)
How did it go?
I absolutely love your videos! You make accounting so simple. I'm using your videos to help teach my high school accounting classes and my college course. You are wonderful! Keep them coming!
Thanks Tini, hope your students are finding them helpful :)
Hello - I want to start out by saying I absolutely LOVE your videos - they are engaging and highly effective at breaking accounting concepts into readily learned tidbits! I'm taking Financial Accounting for my MBA and struggling with one type of quiz question - determining the impact of an error on one of the financial statements. I understand the underlying concepts in the correct answer, but my brain just shuts down when I come across one of these problems:
Which of the following errors on a firm’s adjusted trial balance would cause errors in the firm’s retained earnings statement but would not affect its income statement nor cause its balance sheet or its adjusted trial balance to be out of balance?
A :
understatement of the Unearned Service Revenue amount by $200 and overstatement of the Dividends amount by $200
B :
overstatement of both the Unearned Service Revenue amount by $200 and the Dividends amount by $200
C :
none of these errors would lead to the scenario described above.
D :
overstatement of the Unearned Service Revenue amount by $200 and understatement of the Dividends amount by $200
Especially the questions that pull in all of the financial statements:
Q 4.152: After preparing its financial statements for November, Unique Interiors notices that its income statement shows total expenses that are $200 too high and total revenues that are $300 too low. What effect will these errors have on Unique’s balance sheet for the month, assuming all other account balances listed on that sheet are correct?
A :
These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $100 higher than its total assets amount.
B :
These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $500 lower than its total assets amount.
C :
These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $100 lower than its total assets amount.
D :
These errors mean that the firm’s balance sheet will show a total liabilities and stockholders’ equity amount that is $500 higher than its total assets amount.
Any advice?
Great video !!
1) Can you also make a video about "what is a GL Accountant?" ?
2) Can you also make a video about "what is an aging report?" ?
3) Can you also make a video about "what are Intercompany Invoices?" ?
4) Can you also make a video about "what are financial ratio's?" ?
5) Can you also make a video about "Month end closing explained" ?
:D looking forward to your next videos ;)
Thanks for all of your suggestions!
man you are so underrated, I love your vids and your explaining its so good fr, wish you all the best
This was so helpful man. I had to create a trial balance as part of a business assignment for my engineering degree. Couldn't wrap my head around it before this video!
Thank you so much, I failed in my accounting test not long ago, I relearn all by watching your videos 🤩 tysm!!
Sorry your test didn't go so well, hopefully things are making more sense now. All the best!
Thanks so much James! I am trying to finish the Accounting Basics series and I hope this can help me organize financials for my small business. You've left a great legacy
Your videos are so simple to understand, big up👌👌👊
Thanks, that's great to hear :)
Appreciate these videos so much, my instructor does a horrible job of explaining and shows no examples, this is going to save my grade!
No worries Sam, I'm happy to help
You are really amaizing you are the one who taught me all the accounting stuff . If i pass my commerce exams all the credits will go to you . Thank you
You've got this!
I'm so excited! I've been going through these tutorials (and coming back as needed) I came back and was able to fill this out correctly on my own!
Nice one Ama!
You are a great teacher! I am thankful for guys like you.
His teaching lessons are super useful for me.
Thanks Jane, that's great to hear!
Everyone on here talking about passing college exams.. shit, I'm a new fp&a consultant and your videos are helping me with my $80k/yr job! God bless 🙏
Yes, it makes me feel old! Great to hear that the vids are helping you. It's always good to return to the basics from time to time.
Bored in quarantine. Then wanted to learn accounting then saw your channel! You’re great at explaining :)
It sounds like you're using your quarantine time productively! All the best
Fifth video done..!!
It’s amazing how you explain these difficult concepts in such short videos and just so effectively
So good..love it! You make this simple - 5 out of 5 on my quiz again
Well done :)
I am sooo glad I found your channel because I have an exam this afternoon.....will definitely be needing to watch your other videos for reference for future exams😩💯.....thanks much dude 🙌💯
Apologies for my late reply! How did it go??
If i could hve just seen this channel earlier i would have topped 11th
Because of this channel im finding accounts really interesting
Thank you so much.
Nathan here from india
Heya Nathan, it's great to hear that you're enjoying Accounting. Stay safe!
I am so happy as I found your videos. You have been doing a great job - please do not stop uploading videos like these! Thank you.
Thanks for the kind words... I upload once a week and have no plans to stop any time soon
Why did I ask anyone to help me with this? Cuz I didn't know about you.
Edit: Just made myself clear on this. Great work. 😊 Lots of love from India
Thank u very much ❤️ ..it was helpful for me to do my semester...😄
No worries :)
Great brother, you doin amazing work,
✅✅. Really helpful !
Thanks I'm glad you're finding these helpful
thank u james i scored 80% for this thank u
Nice one!! Glad to hear it :)
Thank you sooo muchhhh. I feel like you're a Knight in a shining armour. I've got o levels in like less than a year and ik nothing
No worries, best of luck with your studies!
Amazing video, as usual! I have 2 questions:
1. The trial balance it's quite similar to the balance sheet... what are the differences?
2. How often are calculations for all the accounting statements and sheets done? Is it once a year? Monthly? Daily?
I'm studying for my uni exam. Fingers crossed I pass this semester! :)
Thanks!
1. I'd recommend watching this video: ruclips.net/video/q7Nhj8vDD8M/видео.html
2. With modern accounting software the Trial Balance tends to be updated in realtime as transactions are entered. Financial Statements are prepared Monthly, Quarterly or Annually depending on when the business needs them
Oh man, you are awesome. This is how we need to understand anything in our life. Appreciated the way you use your brain to learn and thank you so much for sharing this in a very effective and easy way to others.
Thanks for your kind words! Glad you enjoyed it :)
Your videos are great. I got my first exam in a couple of weeks and I'm dreading it. If I pass you definitely helped :)
Good luck, hope you crush the exam!
Great video buddy. Thankyou.
Cheers Jonathan!
Could you do videos on classified balance sheets and closing accounts.
Hey Maddy, sure can! Thanks for your comment
this is really helpful especially for non accounting student like me-- thank youuu!!!
Cheers Kyle, glad to hear it :)
Excellent ..,, love from india ❤️
Thank you so much
this helped me so well during my exams
you have my subscription
Good luck in your exams! Cheers for the sub
Hi Mr.James
Thank you for your valuable accounting class
No problemo!
Thanks man I am studying accounting and it sucked now I am getting the hang of it!
Great to hear it's clicking!
Best tutorial!! You're a genius!!!!
Glad it helped!
Power and useful. Easy to understand
Thanks, that's great to hear
Thankyou from Kenya. I can do my exam without worry
How did it go??
Please do a video on the general journal and leadger
Hey Marcel, thanks for your suggestion!
Good teacher - explains very clearly.
Thanks!
Almost logged out for a minute thinking it was construction lol, my first vid James, i have a final exam and am very clueless, wish me luck
Best of luck!!! You got this!
Great video.... thanks
Thanks Amal!
I understand from you better than my university lecturer
Glad you're finding these vids helpful :)
Awesome production
This is a very nice presentation! It's not boring! Thank you!
Thanks Carlene, glad you enjoyed it
Thanks, very easy to learn
Re-learning for my interview with a small accounting firm tomorrow. Anyone else had to take an exam for a job?
best tutorials ever very good