Income Statement and Balance Sheet (Part 1) | Explained in Hindi
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- Опубликовано: 20 окт 2024
- Link Income Statement and Balance Sheet
The link between a balance sheet and an income statement is obvious, but it's bit tricky. The more income your business earns, the more value should show up on its balance sheet.
What is Income Statement
Income statement shows how much your business has earned during a specific period of time. It illustrates a simple equation: net income or profit equals earnings minus expenditures. In other words, your company's bottom line earnings equals the amount left over, after subtracting the sum that it cost to run your business from the amounts your customers have paid you.
The top section of the income statement lists your various sources of income, such as wholesale and retail sales, or earnings from sales versus services. These numbers are summarized as gross income or gross revenue.
The bottom section of the income statement lists your various categories of expenditures, starting with cost of goods sold, or direct costs. These are the amounts that your business has spent specifically on producing the products and services it delivers. Direct costs include materials and production labor. Your gross profit is the amount left over after subtracting these direct costs from your gross revenue. Next, your income statement lists other operating expenses, or indirect costs, which are expenditures that cannot be directly broken down and attributed to production of specific products. Indirect costs include rent, utilities, and office expenses. Your net profit is the amount left over, after subtracting direct and indirect costs from gross revenue.
What is balance sheet
Balance sheet is a snapshot of your financial situation at a particular moment in time. The left side lists your assets, or everything you own. This includes cash on hand, as well as cash in the bank; accounts receivable or money owed to you for products and services you've already delivered; inventory, equipment and other tangible assets you own; and intangible assets such as copyrights. The right side of a balance sheets shows your company's liabilities or everything you owe, including unpaid balances on loans and credit cards, and it counts payable or sums you owe to vendors.
The liabilities section of the balance sheet also includes owner's equity,
Income Statement & Balance Sheet Part 2: • Income Statement and B...
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I am just half way watching this video and i had to stop with joy to comment, I was desperately searching for basics of finance as i am from a non finance back ground. what an elegant way of explaining.. Absolutely loved it Manoj.. You deserve a a thousand times more subscribers..Just one suggestion to improve on the brightness of the video. Keep going. lots of love.
Thank you so much for your kind words. I am so happy to know that my videos are helpful to you and yes i am already working on getting better quality videos. :)
I'm a Final Year Computer Science Engineering student, I love my subject, for some reason I stumbled upon your video, I don't know Accounts or anything remotely close to it except for the terms (Balance Sheet, etc),I played it for curiosity's sake and I loved it & I'm going to complete your Mini MBA in Finance Playlist. You're getting people with no knowledge, hooked to your content, you're special. Godspeed. Good luck.
It felt so good to hear that Nilargha. Finance is an essential part of every industry and your mode of investment in the future through stock market. I would highly recommend you to watch the Basics of Stock Market series, which would be very helpful in the long term. Thanks a lot!! :)
@@FinancewithManojRajgopal I would definitely check out all your videos. Thank you for your benevolent efforts in creating quality content. You're making this world a better place. Godspeed.
@@nilargharoy8810 thanks and means a lot!!😊😊
Dude your teaching skill is awesome.
Your channel is definitely underrated.
Keep posting new videos regularly.
Got hooked to this channel yesterday.
Thanks a lot for your kind words ... Will update videos regularly.. 😊👍👍
i had gone through your video, and found you are actually good in finance , keep it up good work, i am learning a lot from you, though i am a mechanical engineer, but these videos are defiantly helpful, spread your knowledge and gain your experience
Thank you so much for your kind appreciation!!
Glad that you liked it :)
Wow!You made the concepts so easy by giving logical explanations.Not from commerce background but still my concepts got clear.
Thanks a lot! :)
Great Explanation!😍
Thank you so much for your kind appreciation!!
Glad that you liked it :)
very well explained
Thank you so much!! Glad that you liked it :)
Very well explained topic, specially its in hindi its more easy to understand, thanks
Thanks a lot !! :)
Thank you so much bhai ❤🙏🏻
Glad that you liked it :)
Such a simple way of explaining. Even a non finance person will be able to understand the concepts clearly. Also your passion for the subject is infectious. Keep up the good work. Looking forward to more of your videos. If only you could maybe write in a bit darker or larger font and brighten up the light in your video, it would be a notch up higher..😊
Thanks a lot for such an awesome review !! :D Feedback taken... would take care of that !! :)
Thanks I'm in class 11 and it's easy to understand .....ty again
You are welcome !! :) :)
Keep the great work
Thank you so much for your kind appreciation!!
Glad that you liked it :)
Very knowledgeable!
Nice video sir plz make the video on cma us scope & opportunity india.
I want more such videos
We have uploaded a few more videos about the Financial Statements.
You can check it in our playlist Titled - 'Mini MBA in Finance'
Too good.plz uploaded more videos related finance & accouts
Thank you very much!
Love you yar ❤️❤️🔥🔥🔥🔥
Thank you sir
You are best
Means a lot.. thanks !! :)
Every time he asked the students for answer I got stressed and started preparing an answer mentally thinking what if I had to answer that...😂😂😂
Hahaha... :p I hope you found this video to be informative though !! :)
Thank you brother
You're welcome ! :)
Sir... Why ( 1 - 42.85% ) ???
And your video is very nice too
Nice explain
Thanks !! :)
Best video
Thanks :)
Nyc explanation
Thank you! :)
Manoj, Could you please prepare financials for our company? Pls share your email for further disscussion.
exam sy 1 ganta pahly smj rhy han 😵
आपका ink clear नही हे ।
7.5 ÷17.5 wahhhh thoda clear nhi smjhh ayya...?
Please explain this ?
Thodda formula batta dijiye?
Sir sorry to say but board is not clear.
It would be a bit clearer if you see it on your laptop/ desktop.. have taken care of it henceforth ..😊
@@FinancewithManojRajgopal ok sir I will keep that in mind
Not to complain but I think it would have been more acceptable if it were in English.
Hey .. kindly noted .. but since the mass is hindi speaking audience, I thought of putting up videos in hindi! 😊 thanks for your feedback though..
Aap ka number mill sakta hai kya sir
Hello,
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