FINAL ACCOUNTS OF A SOLE TRADER (PART 1)

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  • Опубликовано: 22 июл 2024
  • This video explains the concepts of the Income Statement and the Statement of Financial Position for the Sole Trader with Illustrated formats.

Комментарии • 232

  • @unclesyd9240
    @unclesyd9240 3 года назад +76

    You'll be the one guiding me through out My Financial accounting course .....🔥😭🔥🔥please never stop posting these videos....God bless

  • @odhiambomoses3283
    @odhiambomoses3283 3 года назад +108

    I'm from Kenya,, How I wish I could meet you physically just to say thank you. Please I pray that this good work won't stop.. I can confirm that the best teachers are coming from Nigeria. I look forward to taking my Masters there God willing

    • @FOGAccountancyTutorials
      @FOGAccountancyTutorials  3 года назад +33

      Thanks. But I'm from Ghana instead.

    • @odhiambomoses3283
      @odhiambomoses3283 3 года назад +10

      ​@@FOGAccountancyTutorials Ooh, but the accent sounds Nigerian. But I'm very grateful sir. I really depend on your tutorials. I want to be as good in accounting as you are. So please continue uploading more.

    • @Bonita2962
      @Bonita2962 2 года назад +4

      Sure even when you read their materials you easly understand...

    • @Bonita2962
      @Bonita2962 2 года назад +5

      @@FOGAccountancyTutorials you clearly clarify well that we understand more than we do in class...kudos...

    • @jumaali744
      @jumaali744 Год назад +6

      Tuko wengi hapa

  • @manyara9081
    @manyara9081 2 года назад +37

    Thank you so much. May God bless you beyond measure. I came across your channel in April this year, barely 2 weeks before my Fin2 exam. I'm happy to announce, I finally passed my Fin2 exam after failing twice in the past. You make this subject enjoyable and very easy to understand. I thank God for this channel.

  • @VanessaUba-w3r
    @VanessaUba-w3r 23 дня назад +1

    I'm from Nigeria 🇳🇬
    I came across your page when I searched for account for non profit organization and to be honest, I've learnt so much.
    Thank you sir
    Couldn't help but subscribe

  • @Dailytimr
    @Dailytimr 2 года назад +16

    You are an excellent teacher. You are saving lots of students. I have a fair prior understanding of this, but you made me understand it even better. May Jehovah reward you.

  • @rogerskogei5497
    @rogerskogei5497 2 года назад +9

    I daily followed your teachings for more clarification about what we have thought in class , continue teaching every topic ,we benefits alot , thank you🙏🙏

  • @hillarymugiyo2118
    @hillarymugiyo2118 2 года назад +3

    U are the best teacher in this planet. I started doing accounts June this year through ur lessons n I writing this year. Your lessons made accounts to be every easy may god bless u

  • @sadiyasanusi7787
    @sadiyasanusi7787 3 года назад +12

    You make me understand accounting sooo well😭😭😭😭. Please keep posting these videos

    • @tlotlopule8911
      @tlotlopule8911 4 месяца назад

      same, been watching hes lessons for yrs now

  • @tonia5364
    @tonia5364 3 года назад +14

    Your tutorials have really helped me clarify things. Thank you!

  • @jamesonyango3417
    @jamesonyango3417 4 месяца назад +4

    you are the best thanks so much. may God bless you beyond the expectation

  • @graham1608
    @graham1608 3 года назад +12

    Wow, so well explained. Good detail, well done. Watching from New Zealand.

  • @roswithafriedrich907
    @roswithafriedrich907 27 дней назад

    Thank you so much i found your channel all the way from Namibia i had no idea what how to work out the Trading, profit and loss and you simplified it 🙏🏻

  • @albrightmsowoya1289
    @albrightmsowoya1289 2 года назад +4

    I've watching your videos, you're an incredible educator. Thank you for the work

  • @emelianaaakushiaquaye2646
    @emelianaaakushiaquaye2646 Год назад +2

    You are God sent Mr. FOG....God will bless you for taking us to the promise land U are genius.

  • @blessing7092
    @blessing7092 Месяц назад +1

    You’re a saviour! God bless you for taking your time to explain these things❤

  • @abekudynamic4853
    @abekudynamic4853 2 года назад +8

    may God bless you abundantly for your effort, you are saving a lot of accounting students, My great lecture.

  • @shannelchikumbu3385
    @shannelchikumbu3385 Год назад

    I've been struggling with ACC but after watching your videos, I'm getting a better insight 🙏

  • @kabakamusagyaarts5810
    @kabakamusagyaarts5810 Год назад

    Oooh my God 🙏 what a gift you gave Africans. Mr you deserve to sir and you deserve more than you get. I'm Rwandan.🇷🇼🇬🇳🙏

  • @abdulaimassaquoi9320
    @abdulaimassaquoi9320 2 года назад +4

    Wow! this explanation is very explicit. I'm from Sierra Leone, henceforth you will be the one guiding me through my accounting module. Thank you so much!

  • @durreenwilliams1040
    @durreenwilliams1040 3 года назад +10

    Wow....you are a great teacher!!! Clear, precise....excellent

  • @chefjohn254
    @chefjohn254 11 месяцев назад

    Thanks for your tutorials, though I joined you late closely to my exams but the little I have gathered is a blessing. Be blessed.

  • @LefaTsokwane
    @LefaTsokwane 2 месяца назад

    you just helped me a lot because you made me realise that accounting is not that difficult, may god bless this channel

  • @user-np7wl7wr1m
    @user-np7wl7wr1m Месяц назад

    This man is soo good
    I was finding it difficult to understand but now i get every single thing he said

  • @mghoiphenny995
    @mghoiphenny995 Год назад +1

    Wow! This is no doubt your talent. May you use it to the fullest. God bless you.

  • @tayeemmanuel7419
    @tayeemmanuel7419 3 года назад +5

    Am enjoying the class God bless you pls continue with your good work..

  • @modestagbeku1467
    @modestagbeku1467 2 года назад +1

    I will follow you until am done with my accounting. I wish you are into all the calculation courses. God bless you for making things so easy for us. Wish like hugging you.

  • @joshuaagyei1327
    @joshuaagyei1327 2 года назад +4

    I am in university offering accounting but i don't learn their slides
    I only watch the videos and i am also good to go
    Keep it up......i wish he could teach other subjects

  • @EzekielPuothkuoth
    @EzekielPuothkuoth 2 месяца назад

    The best teacher ever, I'm enjoying your wonderful videos a lot. From South Sudan 🇸🇸

  • @Malundana
    @Malundana 2 года назад

    You explained this very well, thank you. Watching from South Africa.

  • @ChumamunthakaAgriTips
    @ChumamunthakaAgriTips 3 года назад +9

    Thanks alot Sir God bless you, you have really been helpful during my exam preparations.

  • @tobiasmabo
    @tobiasmabo 8 месяцев назад +1

    Thank you so much sir, you’ve really taught me a lot. Much love from Zambia 🇿🇲

  • @dominicmutia4211
    @dominicmutia4211 3 года назад +2

    Good work Mr. You are analyzing the concept very nice.

  • @misspriscillatakyi1326
    @misspriscillatakyi1326 7 месяцев назад

    Sir God bless you so so much I'm in my third year in the university but it's today I have gotten to know detailed explanations of the income statement. Continue to keep the fire burning 💪

  • @JoyHarrison-ig2gj
    @JoyHarrison-ig2gj Месяц назад

    God bless you!
    I can now understand that financial accounting is not as complicated as I thought.

  • @kimathikelvin7390
    @kimathikelvin7390 3 года назад +1

    You're a blessing in disguise... Please post a video on accounts for non profit making organizations.

  • @mugonyisharifu4655
    @mugonyisharifu4655 Год назад +2

    You are the best for sure may Allah bless you.. you make everything easier..
    You really deserve to be recognised as the best.

  • @josiahdhliwayo9908
    @josiahdhliwayo9908 3 года назад +1

    Thanks a lot for posting this video am watching from Zimbabwe

  • @harifannan3081
    @harifannan3081 3 года назад +6

    You are awesome sir.
    Thank you for teaching us.
    May God bless u financially and Grant u more wisdom.

  • @carole2560
    @carole2560 2 года назад +3

    May you be blessed you are very clear in your explanations sir.Thank you🙏

  • @ayikhaleproduction7592
    @ayikhaleproduction7592 2 месяца назад

    all the way from north west in south africa thank you this is really helpful

  • @abosseydivineblessing539
    @abosseydivineblessing539 2 года назад

    I'm really impressed by your teaching experience

  • @user-op1me1gk5v
    @user-op1me1gk5v 2 месяца назад

    Wow 👏thank you very much sir
    You nailed it,I don't even have questions.

  • @nomvelotshuma4456
    @nomvelotshuma4456 2 года назад

    Thankyou si much sir, you're the best Accounting teacher ever .God bless you for this good work , you're amazing

  • @kennethbradley9568
    @kennethbradley9568 2 года назад +2

    You’re very good sir. God richly bless you for this. How I wish I could have your contact to humbly ask some questions disturbing me seriously. I wish I have the opportunity to meet a good soul like you one day . Kudos you’re the best I’ve ever seen so far

  • @dayo_lazormaroa6700
    @dayo_lazormaroa6700 Год назад

    Could not understand anything at first but now I'm flowing thank you for the videos

  • @asenethneno3681
    @asenethneno3681 Год назад

    God bless you double oo ..am from kenya and I can say u are the best...

  • @timothsichone-yd6bj
    @timothsichone-yd6bj Год назад

    May God bless you and continue with same spirit Sir you're really helpful to me

  • @oseimensahagnes2223
    @oseimensahagnes2223 2 года назад +1

    Such a detailed explanation... much appreciated

  • @lubonemhlwatika1030
    @lubonemhlwatika1030 2 года назад +1

    omg thank God i found this channel,thank you so much sir

  • @isaacgachoki1730
    @isaacgachoki1730 3 года назад +1

    i like your teaching style boss keep up and thanks for thee tutorials

  • @virginia.i8697
    @virginia.i8697 9 месяцев назад

    Like
    I could cry right now
    I really didn't think I would get this😩
    THANK YOUUUUUUUUUU❤❤❤❤

  • @eliasmasanyiwa6534
    @eliasmasanyiwa6534 Год назад

    Thanks alot sir for your tutorials, they have been helpful to my university studies....All the way from TANZANIA.

  • @karnove8051
    @karnove8051 2 года назад +9

    thank you so much sir, you by far the best accounting teacher ever. Never thought accounting was this easy, all thanks to you. can you please post videos on cash flow statement using both methods?

  • @ELVINEJOHN
    @ELVINEJOHN 3 месяца назад +1

    You are the best teacher ever ,i love your work sir

  • @mariatuhannanbelmansaray9150
    @mariatuhannanbelmansaray9150 Год назад

    Thank u very much sir, may the good Lord continue to strengthen your hard work🙏

  • @luke50119
    @luke50119 3 года назад +1

    Thank you so much... watched from Kenya 🙌

  • @dicksonbanda9190
    @dicksonbanda9190 11 месяцев назад

    wow,,,,,you have given me hope to clear this course

  • @nedsonchanza9614
    @nedsonchanza9614 Год назад +1

    It's really helpful, continue helping us sir! I really appreciate

  • @kalangankombo1421
    @kalangankombo1421 Год назад

    Thank you very much ,for everything may God richly bless you in abundance we are really grateful for the lessons and clarification you you give sir 🙏🙏🙏

  • @judithmutomba2642
    @judithmutomba2642 3 года назад +1

    Wow ,great now I have an idea on accounting thanks to u , keep posting these videos to guide us through , may God bless u

  • @kweteybernard5670
    @kweteybernard5670 Год назад +1

    The best sir
    keep the good work going

  • @gibrillamoore9894
    @gibrillamoore9894 Год назад

    I am from Sierra Leone I have learned a lot thank you.

  • @jaydenwalker1320
    @jaydenwalker1320 2 года назад

    God will bless everything you do okay....you are a legend

  • @SelsaAnegarach
    @SelsaAnegarach 8 месяцев назад

    I just want to say thank you, God bless you more sir

  • @Oluwakoredeishola
    @Oluwakoredeishola Год назад

    Thanks sir,I really like and understand your lecture,I wish you be my accounting teacher in school

  • @natureuganda9709
    @natureuganda9709 2 года назад

    Thanks you so much
    Am watching and studying from Uganda
    God bless you sir

  • @lawrenceomondi1376
    @lawrenceomondi1376 2 года назад +2

    A very good teacher. God bless you FOG

  • @michaelomondi7912
    @michaelomondi7912 2 года назад

    Hey ,,,your teaching skills,,you make these things look simple 🔥🔥🔥🔥i tell

  • @richmondsenior4336
    @richmondsenior4336 2 года назад +1

    Nice.
    This has also really helped me. Thank you 😊

  • @PreciousAdeyemi-sq9ie
    @PreciousAdeyemi-sq9ie 8 месяцев назад

    You are a wonderful teacher you save a lot of student God bless you

  • @JanetSakala-nr2rw
    @JanetSakala-nr2rw 8 месяцев назад

    I'm from Zambia you are a. Very good lecturer sir

  • @thanksari5947
    @thanksari5947 Год назад

    Dear FOG.
    How do I differentiate between direct and indirect expenses when preparing the income statement

  • @AgnessBlessingKamara-mq8kf
    @AgnessBlessingKamara-mq8kf Год назад

    I love the way you teach am amazed thank you for your efforts

  • @pranknation897
    @pranknation897 Год назад +1

    Your tutorials are wonderful

  • @priscillahomega1185
    @priscillahomega1185 Год назад

    You are such a blessing .

  • @desdontv6137
    @desdontv6137 2 года назад

    Great work I can prepare my sole trader account now

  • @prosperwilson1454
    @prosperwilson1454 2 года назад

    Watch from nigeria
    Beautiful explanation

  • @pamelanyamadi2994
    @pamelanyamadi2994 3 года назад +1

    I like your tutorials God bless you

  • @MustaphaLUKI
    @MustaphaLUKI 2 месяца назад

    I can’t anything much, I just want to say may God bless you

  • @isaaceyiah2063
    @isaaceyiah2063 Год назад

    I really appreciate ur tutorials, best to none

  • @smithchukwuka8334
    @smithchukwuka8334 2 года назад

    How did u get the closing stock?

  • @user-vo7qk7jj4w
    @user-vo7qk7jj4w 7 месяцев назад

    Best teacher ever,Asante🙏

  • @khalidyare3017
    @khalidyare3017 Год назад

    The points were just being absorbed miraculously 😮

  • @tessennarainsamy5863
    @tessennarainsamy5863 Год назад

    The only thing that I would disapprove of is that you said only indirect expenses are taken for the P&L account, which is an invalid statement that might create confusion, for example carriage inwards is a direct expense and it is included in the P&L acc.
    Saying that, your videos have been a really helpful tool to understand many key concepts. Thank you, keep it up 👍

  • @user-nj2kr3oz5c
    @user-nj2kr3oz5c 4 месяца назад

    Sir your teaching is great God bless you

  • @owinooscar6416
    @owinooscar6416 Год назад

    Whats the difference between the freight charges and carriage inword ?

  • @Henryfosuankrah1
    @Henryfosuankrah1 Год назад

    Great video ❤🔥🔥

  • @osbertsagoe8775
    @osbertsagoe8775 3 года назад +1

    Thank you, God bless you sir🙏👏👏❤

  • @ashleyamandasala7709
    @ashleyamandasala7709 11 месяцев назад

    What if there’s no closing stock? How do we find closing stock?

  • @providencemonyakane9273
    @providencemonyakane9273 Год назад

    So much talented Sir God bless you ❤️

  • @mubs4life
    @mubs4life 2 года назад

    Am confused with the statement @ 7:23. How does cost of sales relate to sales when it derived from the cost price of purchases.

  • @Preetygirl_cayla
    @Preetygirl_cayla Год назад

    Thank you so much i understand your explanation😁but how do you record carriage outwards in the income statement

  • @bailorbarrie9324
    @bailorbarrie9324 Год назад

    Sir, you are the best as far as I know

  • @lhouizkhody1146
    @lhouizkhody1146 Год назад

    you're very very good in teaching.... God bless you...
    I wish you could add business Maths channel to it

  • @rachaelkayabdulai9077
    @rachaelkayabdulai9077 3 года назад

    May God bless you sir for your good job done

  • @AlieuDarboe-yv4yz
    @AlieuDarboe-yv4yz 2 месяца назад

    Thank you Mr. This is wonderful explanation. Also, one thin I have doubt about is why should wages be added to closing stock? Because I think wages are expenses. They should be added to expenses rather than cost of sales.

  • @owinooscar6416
    @owinooscar6416 Год назад

    Whats the net effect of drawings on income statement,

  • @abduljabbarmohammed4188
    @abduljabbarmohammed4188 3 года назад

    Brother thank you so much.Of all the videos I have watched on RUclips you are the one that made me understand the concept of income statement, all the other video s on RUclips I was just memorizing the format.

  • @nataleenmathaiya9754
    @nataleenmathaiya9754 3 года назад +2

    Wowww this is nice...thank you

  • @hannahmbewe744
    @hannahmbewe744 Год назад

    Thank you for helping me understand