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FA1 - Introduction to Financial Accounting
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- Опубликовано: 14 авг 2024
- Visit: www.accountingw... to download the problems found in the videos.
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In this Module we explore accounting terminology and learn to prepare the income statement, statement of changes in shareholders' equity, and the balance sheet. Basic financial ratios are analyzed.
I just wanted to put this here fo everyone. I took financial accounting this year for the first time without any prior knowledge. I didn't really go to class nor did I go to any of my lab sections. I came across this channel, and this playlist just a few days before my first midterm. I watched every video and paid close attention to how you do things. Fast forward to now, I scored 94% on both midterms without ever stepping foot into a class, or labs, or reading the textbook. Your videos are that good, they literally taught me everything I needed to know, fast and effective.
Thanks!
My question though is does any money as in credit cards used outside the business are they considered liability in the business ?
@@anthonypaladino1006 consider that as a drawing
@@princeocquaye5877 Don't know what U mean ?? My question was do I count all credit cards as liability? meaning I have personal and business credit cards, so Do I lump them together or keep the separate ??
@@anthonypaladino1006 bro anything either money or anyother thing that you use for yourself or for your family(personal use) will be named as drawings under liabilties.
JUST WATCHED THE WHOLE SERIES BEFORE MY EXAM. I DID GREAT. TONY BELL IS A STUD. TONY IS THE GOAT AT EXPLAINING FINANCIAL ACCOUNTING. PUT SOME RESPECT ON HIS NAME.
Thank you for given me the way to my exams .
Big facts
Word ✅💯 I named my son Tony (first) Bell (middle) out of respect, admiration, and inspiration that he has given me. I know that my son will honor that name with pride. ✊🏿✊🏿✊🏿✊🏿✊🏿✊🏿🏳⚧🏳⚧🏳⚧🏳⚧
@@huwhatusay4971 ?
[EDIT 2022/01/15]: Thanks for the likes and thank yous, you're all welcome!
1:19 Assets (Anything you or a company owns/controls that's of value)
8:05 Liabilities (Anything a company owes)
10:28 Share holders equity (A = L + SE) "Owners piece of the pie"
15:26 Revenue (Company doing what it does to earn money)
16:08 Expenses (Costs of earnings)
16:38 Dividends (Profits) If revenue exceeds expenses then profitable
Thank you for breaking it down!
@@gabrieladams2463 My pleasure! 😊
Thank you
Super helpful, thank you!
Thank you so much
Not only is he the bestest prof ever in the whole entire world, he is an amazing human being too. I took financial accounting with him. He made the course seem so easy. Much success and happiness to you sir
Thanks so much~! :)
I just graduated with my masters and a friend recommended this with me as a review before my first job search. I cannot wait to refresh myself, and I cannot thank you enough for making this!
One of the clearest explanations of financial accounting can be found here .
Facts! I'm definitely subscribing
Hello Tony!I am from Uzbekistan and we have no Great teachers like u here.I wanna thank you personally for these awesome classes and thanks RUclips for giving opportunity to study from all around the world!Best teacher ever.
Don't bother buying the textbook for your Financial Accounting course - save yourself the money and go through this instead. This course is worth the $10/mo. Trust me!! I had a HORRIBLE Financial Accounting instructor at my school and this course got me an A in it without ever opening my textbook. Easy to digest and packed with great content. Print out the workbook! Thank you Tony!!!!!
Thank you for your kind comment! Good luck in your classes :)
I am an accounting major and am currently taking my first accounting class. This series of videos has helped me more than anything! You have made some concepts that I found to be very confusing make a lot of sense. Thank you so much! :)
I completed my highschool with science as major but now I have financial accountancy subject in my university and believe me i didnt understand anything until i watched your videos, thank you so much
Hi Professor Bell,
I'm currently an undergraduate student at UC Berkeley studying economics and data science and just wanted to give you a shoutout for how helpful your videos are!
Your videos made me more interested in accounting and I decided to take financial accounting and managerial accounting as a result.
To anyone who is starting financial accounting watch all of Tony's videos as you are taking the course it will make your life so much easier and you will understand the material so much more efficently. I found these videos by the end of my financial accounting class and they helped me understand the course so much more.
I really appreciate your videos. I’m currently doing online schooling with no lectures. It all reading and I have been passing but having a horrible time retaining. I have been keeping up in my reading and watching your video and it has been a tremendous help.
what my professor try to explain in 3 hours, not including his personal history of course, Tony Bell explain in under 20 minutes
I appreciate your professionalism,compassion and commitment to your profession. You are the best. Thank you Sir
.
I passed the accounting course with an A+, thank you big time, I couldn't do it without you
CONGRATULATIONS!!
I'm struggling in my fin. accounting course as I've never taken an accounting course. So I logged on to youtube and Mr. Bells' videos were the first to pop up. Thank god I clicked them. He's such a great teacher and I can finally understand the course. Thank you Mr. Bell!!!
Thanks a lot, Mr. Bell! I am in a financial accounting course this semester, for a gen ed, and I would've likely failed my first test if I didn't find your videos. I just got an 88 on my test and plan on watching this entire series at the pace of my course. Thanks so much! Your teaching style works very well.
Well done!!!!
50 year old MBA appreciating your presentation and knowledge. I don't get to use this material everyday so it was a nice refresher for me.
i am a student of Nepal where buddha was Born. Your explanations are just wow. It is so clear and understandable. It was very difficult for me to understand financial account and now I easily understand what Assets, Liabilities, SE ,revenue and so on are. Thankyou very much. Love from Nepal.
3:00 Assets technical definition
8:50 liability technical definition
13:02 Shareholders equity
15:26 Revenue
16:08 Expenses
16:38 Dividends
I’m taking a Financial Accounting class right now and it’s honestly like learning a foreign language to me. I just came across your channel today and have been able to get more information here than my college class. Thank you so much for this!
Man... Ever been in a position where you're basically fighting with your finger not to press that like and subscribe button and yet there's nothing you can do about it?
This is what perfection and passion looks like. These videos are done perfectly and passionately.
THANK YOU!
This is probably the best channel on accounting i have across. Narrator explains everything so well and keeps it interesting. Great job.
I was starting to doubt I could do this accounting course with the material I had and you have saved the day!
Thank you so much!!
Your style of teaching is AMAZING!! you teach so effectively and effortlessly which makes everything so easy . I am going to opt for Financial Accounting in my first year without having any knowledge about it. But i am sure your videos are going to make everything easy for me . THANK YOU SO MUCH SIR !!
Such a great way of explaining, friendly, repetitive and helpful! I'm a non-accounting student but have one accounting course within my textile and clothing management studies. Exam is in a month's time and I hope I can pass using your videos as a foundation! First one looks super promising and gives me hope. Thank you so much for this channel!!!
Thanks! - Good luck in your studies :)
@@Tony-Bell Am I able to ask you something (sorry if not)? Question is regarding journal entries from a shop's perspective.. A shop returns defect merchandise valued at 7000€ to the wholesaler. The wholesaler writes a credit note. Are the following entries correct? "accounts receivable (credit note)" debited at 7000€ and "merchandise" credited at 7000€ ? Thank you!!
@@alexandrar5699 If the customer is returning it, DR Sales Returns, CR A/R. (And if the inventory still works, which it sounds like your doesn't, DR Inventory, CR COGS. See this video: ruclips.net/video/UUu4YLH-Bn4/видео.html )
The instance for the shareholders equity is phenomenal 💡😁🔥
Your videos are amazing!! Im taking financial accounting and was struggling deeply with comprehending it all especially on the financial statements as we kept adding more. Your videos cleared up so many questions and put in terms i could understand. I feel more confident about my next test, especially after i bombed the first. Thanks!
Thank you so much for this. This whole playlist has helped me so much with my exam.
I just arrived in the USA from Ukraine and now trying to learn a new profession for myself in order to find a job, and God, thank you that I came across your videos, everything is clear and accessible, thank you for your work!!!
I have started preparing to FA. It’s my first time in this channel. I enjoyed the 1st lesson so much! Thank you🙏
These videos are an absolute life saver! I’m taking my first accounting class online and absolutely bombed my first test. These videos help cover the gap between the text book and application of the material. THANK YOU!
This series was great. I passed my accounting class thanks to Tony. I'll be back for the managerial accounting series when I take that class. I 1000/10 recommend watching this series if you're struggling in financial accounting. Thanks Tony!
Thanks Joe! Good luck in the rest of your studies :)
Woahhh! Your explanations are so clear and understandable. Thank you so much !
You're a hero seriously. Our instructor is so boring I thought I'm going to fail this year. Thanks to God I found this channel
This is why people tend to say to learn better, you need to forget what you know first. I am a full time accountant with 1 year experience. This saying just applied to me now. I am blown away by how simple Tony puts it. As I always know the accounting equation, A = L + SE, I never thought of it as you bought a house $300k as assets, took out loans $200k, so you will have $100k profit if you sell it. I just had like an OMG moment when I went "duh". As an ESL person, I always thought SE term is so complicated, not to mention dividend, common shares, retained earnings and how they all link together. I can't wait to watch the rest of the Financial Accounting playlist as well as Managerial Accounting (what I struggled the most during college). Pure gold knowledge that Tony put out there for free on RUclips. Thank you so much!
This guy is actually so sick! I had my doubts about taking this class but now I'm enthused
Accounting is my major and before coming across this channel I was struggling. I am so thankful for you Tony, you have made me love this major so much more.
I dont normally comment on videos but... I am teaching myself some accounting as an entrepreneur I think its important to know, I have absolutely dreaded it so far but you are a great teacher and this video was genuinely entertaining and I enjoyed it thoroughly. I now have about 20 hours of your accounting videos organized to watch later. Thank you!
I have to tell you, I received a shitty 4 outta 20, in my first attempt of Financial Accounting.
With your videos and tons of problem solving I managed to get 14 !
Thank you so much for existing and teaching us via this platform. Don’t have money to support (student debt) but I will when I get a job. ❤
thank you so much professor Tony for this amazing playlist , I'm a student from Morocco and we study in universities in french language but I couldn't find anyone that explains accounting better than you . Thank you so much for your incredible explanations
Cc fin wslti mea accounting akhay
This is got to be the BEST explanation I’ve yet to come across!!! Thank you soooo muchh
I'm beyond ecstatic to have found this channel! So much easier to understand than the past two months of my Financial accounting class.
Same, I’m was taking classes online and all we have are the note books and quizzes and assignments. Accounting was hard but I passed and looking for videos to teach me because Im more of a visual learner
I almost watched every video and click every like button beneath them. Thank you Bell ! it is very useful to my accounting class.
May you have good fortune my online professor! Haha, saved your playlist, Im a 1st year college student and have a major subject in Financial Accounting. Thanks for the amazing playlist.
hi sir you took me from hating and knowing nothing in my financial accounting class to LOVING ACCOUNTS I THINKS ITS NOW MY FAVOURITE COURSE!!!!
For anyone wondering:
YES, Joining his membership is worth it 100%! Really helped me get through this course.
Thanks, Tony! I'll resubscribe when I do managerial.
Thanks so much!!
Hi, your videos are great for beginner to understand financial accounting. I am not majoring in accounting, I am an electrical engineer.
I'm a Junior in college majoring in accounting and came here to really refresh on the basics before I take my second financial accounting class next semester. From what I can straight off is how clear he is with explaining terminology and is doing so in a way the average person who isn't familiar with complex accounting terminology can explain, also helps that he doesn't have an accent like my past professor 😂
Awesome lecture! I totally get it now. Before hearing this lecture i was like how am I going to ever get this lol Thank you so much, Professor!!!
Just started my course and I was so lost , this video IS HELPING ME A LOT !! thanks
Starting my MBA in a couple of months and came across these videos, I feel a lot more comfortable about financial accounting as my first course knowing these are here as a resource. Thank you!
I love the way you explain everything in a very simple way many professors cant do that, you should be very proud of yourself! By the way you are saving my life it is the first time that i actually was able to understand anything :) !
Thank you for putting these lessons up and making financial accounting way easier than I made it out to be. I managed to get an A on my final exams and can't thank you enough for putting these resources out here on the internet to help us students taking accounting for the first time!
Starting my Financial
Accounting at Harvard business school this Fall. The best teacher ever, thank you so much. I am so ready for my classes.
what a waste of money
Thanks Prof, It's simple but amazing ..now I understand better about Financial Accounting, and correct understanding about Asset, Liabilities, Shareholder Equity, Revenues, Expenses, Dividends and ready to learn 2nd Modul😊
Thank you for explaining this I failed accounting twice and the third time I didn't even show up for my exam but your video just gave me confidence. Thank you 🙂
The way he teaches it’s so good in our country Pakistan our teachers cannot teach like this it’s all about passion ❤ thank u sir
Thanks so much! I've been completely lost for my first 2 lectures. And the prof always calls on me to answer questions and I have to say "I don't know" and then I just look so stupid. I appreciate your help!!❤
really beneficial for students of non business background who took business studies specially in foreign countries like canada......thanks a lot and keep on going
This is my first video and I'm learning so much already. I thought my college textbook was a little too technical for me to understand so I came here instead and you've explained everything perfectly. Thank you so much❤❤
Hello, I'm from Thailand and currently studying in accounting school. I just want to say thank you for all of your video, it's very useful for me and my friends to learn financial accounting and English in the same time. THANK YOU.
Thank you for this man, my professor didnt even go over any of this stuff. We just jumped straight into using this stuff without any explanations.
Thanks for your valuable videos, I'm currently studying FA in my uni for the first time and it's a bit difficult for me to fully understand what my pro said and what she showed on powerpoint as well. But, I find it easy from your lessons. Thanks for all !!!
Very great explanation, writing, and examples. I was lost in finance class because they just explain the stuff with all the complicated things but in this video it was very easy to understand. Thank You very much!
I tried to take an accounting and bombed it. I wish in had known about this channel back then. I'm going to finish all these videos and try again 😊
Thanks so much!!
Hello professor, greetings from New York City. This is helping me so much in preparing for accounting exams. Thank you so much for creating this and sharing it with us!
Thanks! Good luck in your studies :)
Hands down the easiest to understand video I have seen and I have seen many. Thanks. Researching to be a bookkeeper.
Thanks for that great explanation! All my lecturer did was post 300 slides online and he expects us to work through them and understand them within three days. So, this an your other videos have helped me immensively in grasping the ideas of financial management
I got a midterm for my accounting class today and I haven’t been doing too well on previous quizzes. Hopefully these videos will help me understand the world of accounting a bit more
how did you end up doing ?
@@davidtorres2400 I passed them, these videos did help a lot
Thank you Tony Bell. I am taking a intro to accounting course (online) not much instruction. Your videos have helped me so much. I may have given up if i didn't discover them!! Thank you!! Thank you!! Thank you!!
Great video Sir. I'm from Turkey and I'm taking accounting this year. Altough my first language is not English, your lectures are so easy to understand and comprehend. Thank you for your effort. 😀
Your course is a life saver. I finished all video's and they helped me a lot. Thank you for the valuable education. You Rock. Ernie
What r u studying for?
The most clear accounting video I have ever watched
Wow you explain it very well! I can also see now, the reason why assets like beauty, health and diplomas are hard to attach a number to is because they cannot be traded to find its associated market value that easy.
I passed Financial Accounting with a 7,4 all thanks to you my hero. Tony Bell my lord my saviour. I owe you my life
I can tell that you are the best thank you so much professor :)
Amazing guy how he has delivered this session in very simply way. Really the best instructor that I’ve ever seen BIG LIKE
Doing this as an update for myself and hopefully to give hope to others. Im in my first year at a university and taking an into to accounting class. Worst choice was to take it as an asynchronous class. My midterm is in 1 hour as im writing this and you really do teach so well. I could not understand anything in the textbook but watching your videos which are short but so in depth are making me worry a bit less. I want everyone to know his videos are really great. Ill update with my score later and lets hope i pass. Rn i have a 82% in my class so ill update
Good luck!
Hello sir. You explain every chapters very well without any doubt. I never knew so much accounting until I watched your videos. It really helped me with my learning and understanding the accounting terms.
So much grateful to you.
You really owe me sir. That's the correct word I guess😅
Haha - thanks :)
Hi Tony..Please just so you know you are a life saver. A genius is what you are!! Thank you so much.
I see a lot of negative reviews about learning from RUclips. Now I know why people do that. They probably see content like this as a threat to their own techniques of teaching. I have learnt more from RUclips than I did by paying for education at university. RUclips is just like any traditional university. The only difference is here it is virtual and you have to be dedicated to learning as no one will hold your hand to guide you. But then here you have the option to learn from multiple instructors at one time. That cannot be a bad thing.
Financial accounting? More like "free knowledge adding", because I'm so thankful that you made and shared such high-quality, free videos! I fully intend to finish your course/playlist, and thanks again!
Thank you very much sir .I really had difficulties in understanding accounting but I find it easier now
Mr. Bell, you made my life easier. thank you for the great work..
Thanks for explaining in the simple terms. Thanks again for sharing your time to educate us.
I just started my Financial Accounting course today and was dumbfounded in reading the textbook. I do all of my classes online due to the current covid pandemic, and was on the verge of tears during the practice tests. Thank you for putting these videos together. Quick question, one of my problems mentioned a company paying 4,000 in advertising expenses. How would I be able to allocate that expense in a business transaction
I would call it a debit to advertising expense - as you work through my series, this is covered quite nicely in Module 2 videos...
Thanks alot for your great contents :)
I've started ACCA F3 paper which is financial accounting and I didn't know where should I go to get a little familiar with financial accounting because I am graduated from Law. After watching your videos, I learned many things regarding Financial Accounting.
Your videos are just amazing for an ACCA student who wants to learn the financial accounting fundamentally :).
I hope you upload more videos regarding accounting.
Best of luck Tony!
This is the only accounting course that matters.
This guy is a genius. ten times better than my prof. Thank you sir.
Thank you so much for the playlist Tony. This is really helping me in my financial accounting modules. Keep the good work up. God bless you.
These are absolutely amazing. Thank you so much for helping me get through FA1 and MA exams. 🙏
Your definition is the best, Sir. Please keep uploading of your teaching
I'm from science background never got a chance go to the business school but I got you when I was finding good teacher who can help me to understand finance and accounting and I am very grateful to get you. Respect teacher 🙏👏🏼♥️
I wish this existed 10 years ago when I was studying finance…maybe I’d stay in the industry. Now that I’m a manager in other field and planning my business on the side, I have to learn it from 0 again 😅 thank you! Never in four years of BA nor in my MA I understood so clearly
Thank you so much Tony, you helped me pass my class since my teacher just made us read the textbook and do the exams. I could not have learned all of this myself! Onto my second acct class this winter quarter!!
omg. i have been struggling with my financial accounting class. this breakdown helped so much. thank you!!!
Thank you so much, Professor it was awesome and im a new student of the accounting which started your classes on RUclips, mi feeling very happy of finding a course like this again thank you so much
hi mr bell I just wanted to say thank you so much for your videos I watched them before an exam I had for retake for the fifth time and i passed 🎉 thank you so much 🙏🏻