Thank you for this video! It has given me a fundamental understanding of accountancy that I had not yet acquired despite achieving a distinction in my AAT Level 2. I have just started Level 3 and am much more confident :)
THANK YOU! It's so much easier to remember something when you understand the reasoning behind it, rather than just being told "oh that's just the way it is".
I’m glad you like it. I really don’t like the use of deadclic or pearls. It is the one of the reasons why the pass rate of bookkeeping controls is only 70% which is terrible for such an easy unit
Thanks, this video, wow was highly concisely worded, adding on really well to the sound knowledge level I've got through reading Bookkeeping books already. Feeling more confident about it now. Thanks
Great video, thank you for taking the time to explain this properly. Just completed module 1 of level 2 Q2022 with 93% but was taught using dead clic in class which didn’t sit right with me. This was so much easier to get my head around! Hoping this will make module 2 book keeping controls easier. I have downloaded your books on kindle too :)
This is So helpful, thank you very much, DEAD CLIC did not make sense to me, you explained the double entry perfectly, it is much easier to understand what is behind it rather then simply memorising DEAD CLIC...
This explains a lot! I did ICB level 2 Bookeeping and passed but I feel like a fraud! I know I haven’t got my head around double entry bookkeeping. I used DEAD CLIC a lot!! I’m about to start on level 3 and I feel I’m going to struggle! It is things like discounts allowed, discounts received, irrecoverable debts etc that I can’t get my head around as using DEAD CLIC I can’t decide if they are an expense or a liability. Help!
Thanks for this video, I'm currently studying with the Osborne books and I struggled a lot, this explanation makes everything clear. I was wondering if there's something else we should look out for in the Osborne books? I got the lvl 2+3 course so I already have their material.
In your trial balance I am confused. Shouldn't salaries & purchases (highlighted orange) be in the Credit column as +2,000 & +3,000 to give a trial balance of 105,000 for each column
Good evening. I've just signed up to do a self study bookkeeping level 2. 2 huge folders have arrived and was just wondering if this series of 6 videos is a good entry point? Thank you in advance
@@MichaelNortonFCA thanks for your reply, really appreciated. I've subscribed to your Chanel and will use this is a starting point. Again, thanks for your time.
We need to learn the basics of double entry bookkeeping for the SQE, so what do they teach? DEAD CLIC, obviously. It confused me so much, and I’m really grateful to have found your video. Michael, are there any books that you would recommend to learn more about double entry bookkeeping?
It will be the standard textbook for your course. The syllabus is very wide and will pick out certain parts so that textbook will ensure you don’t waste time I just explain it more simply because when I trained we did manual accounts so it all made sense. A lot of the terms would not be the same of double entry bookkeeping was invented today but you would only get it if you had seen large scale manual and computerised side by side that doesn’t exist now Hope that helps
can I ask where the profit went from the sale? Salaries (£2,000) and Purchases (£3,000) were £5,000 and made £10,000 So £5,000 Profit How would this be put into the Trial balance and on the T Accounts? It's the only question i have the video is brilliant I done all the cups and paper and it was very good. But then i think it does have to balance so would that be on a P&L not in the T Accounts trial balance?
Hi, I am just a little confused on one part. On the T accounts for the Bank Account, it was 105000 carried fwd, but on the Trial Balance, you put only 75000? On all of the other accounts, whatever was carried forward was put in exactly like it was on the T accounts, but for this one, it changed?
dead&clic methos is good as far as you are too basic to understand what accounting actually is and basic transaction for t a/c your method is way better .
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Thank you for this video!
It has given me a fundamental understanding of accountancy that I had not yet acquired despite achieving a distinction in my AAT Level 2.
I have just started Level 3 and am much more confident :)
THANK YOU! It's so much easier to remember something when you understand the reasoning behind it, rather than just being told "oh that's just the way it is".
I’m glad you like it. I really don’t like the use of deadclic or pearls. It is the one of the reasons why the pass rate of bookkeeping controls is only 70% which is terrible for such an easy unit
Thanks, this video, wow was highly concisely worded, adding on really well to the sound knowledge level I've got through reading Bookkeeping books already. Feeling more confident about it now. Thanks
I’m just starting in bookkeeping and found this subject just too confusing. This video explains it in basic terms which I badly needed. Thank you.
I lost everything and now in my late 30s I’m retraining as an account and starting with AAT. Thank you for this
Good luck
Thank you so much for taking the time to do these videos, this has been so helpful, I feel like I may actually get to grips with the subject now!
Great video, thank you for taking the time to explain this properly. Just completed module 1 of level 2 Q2022 with 93% but was taught using dead clic in class which didn’t sit right with me. This was so much easier to get my head around! Hoping this will make module 2 book keeping controls easier. I have downloaded your books on kindle too :)
You can get a high mark at level 2 but your inclination is right it won’t work for level 3
I have just started self study level 2 with osborne books, why did I bother ! I should come straight here and watch your videos. Thank you so much
Brilliant stuff mate, much appreciated.
You’re welcome
That’s was so much better than what has been explained to me.
This is So helpful, thank you very much, DEAD CLIC did not make sense to me, you explained the double entry perfectly, it is much easier to understand what is behind it rather then simply memorising DEAD CLIC...
I’m glad it worked for you
Best Accounting basics video ever
You are too kind
This explains a lot! I did ICB level 2 Bookeeping and passed but I feel like a fraud! I know I haven’t got my head around double entry bookkeeping. I used DEAD CLIC a lot!! I’m about to start on level 3 and I feel I’m going to struggle! It is things like discounts allowed, discounts received, irrecoverable debts etc that I can’t get my head around as using DEAD CLIC I can’t decide if they are an expense or a liability. Help!
Absolutely fantastic explanation!
Thanks for this video, I'm currently studying with the Osborne books and I struggled a lot, this explanation makes everything clear.
I was wondering if there's something else we should look out for in the Osborne books? I got the lvl 2+3 course so I already have their material.
In your trial balance I am confused. Shouldn't salaries & purchases (highlighted orange) be in the Credit column as +2,000 & +3,000 to give a trial balance of 105,000 for each column
Thankyou so much, this video was exactly what I needed!
Thanks much appreciated
Hi Micheal, why did the trail balance move all the liabilities (non-shareholder) credits over to the left side?
Thanks for the advice on dead clic
You’re welcome
Thanks Mr Michael Norton
Good evening. I've just signed up to do a self study bookkeeping level 2. 2 huge folders have arrived and was just wondering if this series of 6 videos is a good entry point? Thank you in advance
Absolutely. If you get a good understanding of double entry bookkeeping with the first video everything is easy from then on
Good luck
@@MichaelNortonFCA thanks for your reply, really appreciated. I've subscribed to your Chanel and will use this is a starting point. Again, thanks for your time.
We need to learn the basics of double entry bookkeeping for the SQE, so what do they teach? DEAD CLIC, obviously. It confused me so much, and I’m really grateful to have found your video.
Michael, are there any books that you would recommend to learn more about double entry bookkeeping?
It will be the standard textbook for your course. The syllabus is very wide and will pick out certain parts so that textbook will ensure you don’t waste time
I just explain it more simply because when I trained we did manual accounts so it all made sense. A lot of the terms would not be the same of double entry bookkeeping was invented today but you would only get it if you had seen large scale manual and computerised side by side that doesn’t exist now
Hope that helps
@@MichaelNortonFCA Thanks for the reply! You're a great teacher. I'm watching your videos in the evening now just out of personal curiosity.
can I ask where the profit went from the sale? Salaries (£2,000) and Purchases (£3,000) were £5,000 and made £10,000 So £5,000 Profit How would this be put into the Trial balance and on the T Accounts? It's the only question i have the video is brilliant I done all the cups and paper and it was very good. But then i think it does have to balance so would that be on a P&L not in the T Accounts trial balance?
Great info thanks!
Thank you so much,
It was a great video but a few slip ups with explaining sometimes
Hi, I am just a little confused on one part. On the T accounts for the Bank Account, it was 105000 carried fwd, but on the Trial Balance, you put only 75000? On all of the other accounts, whatever was carried forward was put in exactly like it was on the T accounts, but for this one, it changed?
Good spot. There is something missing in the T account for bank. What do you think it is?
@@MichaelNortonFCA The amount we paid to buy the Van?
@@MichaelNortonFCA So that would make it 30000 cr (excluding 2000, 3000) on the bank account which would make the carried fwd value 75000?
it is a great video..
Thank you
44m17s did you misspeak it round the wrong way? "...profits are less money handed over to share holders..." thats wrong?
dead&clic methos is good as far as you are too basic to understand what accounting actually is and basic transaction for t a/c your method is way better .