Thankyou so so sOoo much!!! But with that, i am actually really concerned as to how are you doing, sir? Your last upload is 4 years ago and i'm genuinely wishing that your healthy and happy in life because u have helped so many by your father-like teaching.
very nice video made it clear for me after watching so many videos that make it so complicated for no reason that only makes it harder to understand. thank you TAT
I just started to learn about debiting and crediting and I swear it was not going in my head. NOW IT’S STARTING TO GO IN😭😭😭 tyyyyyy sooooo muchhhhhh!!!!!!!!
Thank you for doing this. I start classes next week and I really want to do well. Im excited because debits and credits very recently clicked for me and following along this video was a good excercise for me!
I wish you were my professor, honestly!! My current accounting professor wastes most of his time showing us small videos that is irrelevant to the course! Thank you so much for this video, Larry!
Well explained. Got midterm exam from accounting tomorrow so I've decided to make a revision a little bit. Do hope I'll get at least A at the end of the semester because of your videos. May God bless u! Im gonna back to this video and share my grade, wish you guys luck and see u soon))
@@theeririi3749 Oh okay, my bad for misunderstanding lol. But yes, we’re back on campus. We’ve had traditional face to face classes since we started back in August. To help everyone stay on track and go to class at their own risk, they’ve implemented “dual modality”, which just means they have to put all class content online, even if the class is in person. We have to wear masks, and classes have to be held in lecture halls big enough to abide by social distancing rules.
@@emanibrinson8490 nah it's okay lol I youse south african english so maybe it made sense to me but you probably use English from whatever country your from Hehe that's really cool I like the technique they (dual mobility) it would be so useful! Anyways have a nice day!
OMGGGG I CANNOT THANKYOU ENOUGH U TAUGHT ME WHAT MY TECAHER TRIED TO TEACHER ME IN A FULL SEMESTER IN ONE VIDEO!! IM SO CONFIDENT FOR MY TEST NOW TYSMMMMMM (Ik ur probs not gonna see this since this was made 6years a go but still thankyou !)
I’m taking the financial accounting but on my first exam I failed I got 58 and this is my second time taking this class coz I don’t understand anything about financial accounting class like the statement and cash flow and everything
Dude, you saved my frickin’ ass!! My teacher was way too hard to understand when he explained it, BUT YOU, oh my god you’re the best bro!!! I can do this test I’m about to have. Much love to u mann
thank you for the video. I've never done accounting but want to have a knowledge of it, been reading textbooks, watching accounting videos and so far its been really interesting. but what i don't seem to understand is why asset increases with a debit and decreases with a credit. it seems to me like credits should increase assets. I'd so much appreciate an explanation. thanks in anticipation.
rahulsharma344 Because we issued credit. This was recorded as accounts recieveable which we debited. The revenue generated was credited. Ok so now we finally receive payment, what did we recieve? Cash, so we increase this by debiting the cash account. Now we bring down account receivables account, as the third party has settled their debt. How? We credit accounts receivables.
This is EXACTLY what I was looking for. Many videos goes on and on about assets, liabilities and equity. Ofcourse its important but this video taught me more than 20 of the other videos I have watched. I am trying to learn to use ERPNext and ERPnext shows the Chart of accounts in a tree-structure. Just as a small comment ... I would have loved to see your chart of accounts just to compare. I did howeer pick up that in ERPNext they call Sales Revenue just Sales and Service REvenue just Service. But at least I know now how to use those accounts in ERPNext. And ofcourse I can change the names in ERPNext because Sales Revenue does make more sense. High Five Accountign Tutor !
I have never done accounting before and I was about to sit for a competitive entrance exams that requires a basic knowledge of accounting. When I came into contact with these your Wonderful videos ,I was able to pick up the whole notion like A, B, C, D. Thank you very much for the great work you have been doing. I love it.
Thanks for your wisdom and simple way of explaining accounting even if your videos are old but I am pretty sure they help out a lot of students, you are a true teacher
does anyone else think this is very flawed way of doing things?? From what I understand this is one way to account for spending money on equipment that instantly loses value while in the books it still apparently has full value. If I spend $300 in cash and then transfer that $300 into assets for a piece of equipment that might be worth $20, how do you account for the loss of value??
The 5th item seems to be wrong: how can it be possible that an outflowing of cash (item 1 and 2) are recorded as the same of an inflow of it (item 5)...?!! Sorry for telling you..
Aw I will debit cash. and credit common stock for the first questions. The second is. Debit cash and credit Notes payables. This things are so great to review over and over. You tub platform is great for us. God blessed you all and all the professors.
OMG I'm glad I stumbled upon this video. I completely understood now our first lesson, lol. And I feel like I will never be confused anymore understanding this basic concept.
My question is would you really need to have all 12 of those accounts set up or is this just a record keeping system and you just have a few basic accounts set up to handle multiples of those transaction type?
I need your help I speak spanish but I dont understand accounting and I just failed the subject and the hardest thing is that is in english englsih is not my first language I have to study something similar to the video but I dont understand when is debit or credit
Hola Maria, en lo que le pueda ayudar, soy Contador y al igual que usted Inglés no es mi lengua principal. Mi correo electrónico para cualquier consulta: filirojas@gmail.com
Thankyou so so sOoo much!!! But with that, i am actually really concerned as to how are you doing, sir? Your last upload is 4 years ago and i'm genuinely wishing that your healthy and happy in life because u have helped so many by your father-like teaching.
JUST TO TELL U .. I GOT AN A+ FOR REAL !!!!!!!!! OMG I'LL PRAY FOR U FOREVER !!!!!!
Glad to know that you're doing so well, Rori...keep up the good work!
Larry
Rori cool that's awesome dude!
lol
No textbook could do what you just did for me. Thank you so much. I actually feel like I am going to pass school right now.
How did you do in the end?
Indeed
very nice video made it clear for me after watching so many videos that make it so complicated for no reason that only makes it harder to understand.
thank you TAT
Your a fantastic teacher! Fantastic!
I just started to learn about debiting and crediting and I swear it was not going in my head. NOW IT’S STARTING TO GO IN😭😭😭 tyyyyyy sooooo muchhhhhh!!!!!!!!
you taught me more in this video than my professor has the whole semester thank you!
Watched 5times, tomorrow will be my long exam and the other day Midterm exam, thank you you!!!
This increased my understanding by 100%.
Thank you
The most best explanation I ever seen like that about debit and credit
Thank you so much! I've been looking for videos for hours and this is by far the best.
Thank you for doing this. I start classes next week and I really want to do well. Im excited because debits and credits very recently clicked for me and following along this video was a good excercise for me!
This is very helpfull I'll keep this in mind when im going to major accountancy in college
Very nicely done here.. easy to understand as long as you know debits and credit rules in accounting
I wish you were my professor, honestly!! My current accounting professor wastes most of his time showing us small videos that is irrelevant to the course! Thank you so much for this video, Larry!
Very, very, very, helpful and explanatory..... Thanks so much🤗
Well explained. Got midterm exam from accounting tomorrow so I've decided to make a revision a little bit. Do hope I'll get at least A at the end of the semester because of your videos. May God bless u! Im gonna back to this video and share my grade, wish you guys luck and see u soon))
Soooo how’d it go
Hahahaha i wanna know more, how was it
@@mymyfilmofficial512 sounds like bro did not get an A 😭
such a brilliant professor..i wish im gonna meet him
Taking Accounting 2201 at University of West Georgia right now, and you’ve made everything so much clearer! Awesome video.
You started school yet?
@@theeririi3749 What do you mean? Do you mean if I started back for this school year?
@@emanibrinson8490 yeah considering corona slot of schools/universities are closed
@@theeririi3749 Oh okay, my bad for misunderstanding lol. But yes, we’re back on campus. We’ve had traditional face to face classes since we started back in August. To help everyone stay on track and go to class at their own risk, they’ve implemented “dual modality”, which just means they have to put all class content online, even if the class is in person. We have to wear masks, and classes have to be held in lecture halls big enough to abide by social distancing rules.
@@emanibrinson8490 nah it's okay lol I youse south african english so maybe it made sense to me but you probably use English from whatever country your from
Hehe that's really cool I like the technique they (dual mobility) it would be so useful! Anyways have a nice day!
OMGGGG I CANNOT THANKYOU ENOUGH U TAUGHT ME WHAT MY TECAHER TRIED TO TEACHER ME IN A FULL SEMESTER IN ONE VIDEO!! IM SO CONFIDENT FOR MY TEST NOW TYSMMMMMM (Ik ur probs not gonna see this since this was made 6years a go but still thankyou !)
Thank you so much for the video. I learned more than I did at class.
لاااااااا
Took accounting in college years ago and this is a perfect refresher. Thanks!
this gy deserves so much credit. I learned so much in less than 10 mins than I learned for 2 months
I’m taking the financial accounting but on my first exam I failed I got 58 and this is my second time taking this class coz I don’t understand anything about financial accounting class like the statement and cash flow and everything
Would love to see you explain a income statement in relation to a balance sheet .
Dude, you saved my frickin’ ass!! My teacher was way too hard to understand when he explained it, BUT YOU, oh my god you’re the best bro!!! I can do this test I’m about to have. Much love to u mann
thank you for the video. I've never done accounting but want to have a knowledge of it, been reading textbooks, watching accounting videos and so far its been really interesting. but what i don't seem to understand is why asset increases with a debit and decreases with a credit. it seems to me like credits should increase assets. I'd so much appreciate an explanation. thanks in anticipation.
You saved my college life
If my accounting teacher explained himself like you have, my god i wouldn't have any gray hairs..
One question - on line 28 why not we debited revenue account(Cash was debited) as this 5000$ was earning for the company for services performed?
rahulsharma344
Because we issued credit. This was recorded as accounts recieveable which we debited. The revenue generated was credited. Ok so now we finally receive payment, what did we recieve? Cash, so we increase this by debiting the cash account. Now we bring down account receivables account, as the third party has settled their debt. How? We credit accounts receivables.
This is EXACTLY what I was looking for. Many videos goes on and on about assets, liabilities and equity. Ofcourse its important but this video taught me more than 20 of the other videos I have watched. I am trying to learn to use ERPNext and ERPnext shows the Chart of accounts in a tree-structure. Just as a small comment ... I would have loved to see your chart of accounts just to compare. I did howeer pick up that in ERPNext they call Sales Revenue just Sales and Service REvenue just Service. But at least I know now how to use those accounts in ERPNext. And ofcourse I can change the names in ERPNext because Sales Revenue does make more sense. High Five Accountign Tutor !
thank u sooo much i think i'll get an A+ because of u !!!!!!!!
Sir practical problem class 11 pseb edition Mohan juneja chapter 4 bih slove krvayea please
Paying $$$ to a University to learn virtually and you just saved me.
Thank you very much Sir. I hope you're videos r being monetised! :-)
I have never done accounting before and I was about to sit for a competitive entrance exams that requires a basic knowledge of accounting. When I came into contact with these your Wonderful videos ,I was able to pick up the whole notion like A, B, C, D. Thank you very much for the great work you have been doing. I love it.
Thank u sir,this really helped a lot even if it's just basic,it helps big
Balance sheet as at 10/06/2012
Thank you thank you THANK YOU!!!!
Thank you, love the way you teach
Great examples. Thanks!
Thanks for your wisdom and simple way of explaining accounting even if your videos are old but I am pretty sure they help out a lot of students, you are a true teacher
Great! Thank you a lot! Easily understood!
Thank you sir! This video is very helpful!
does anyone else think this is very flawed way of doing things?? From what I understand this is one way to account for spending money on equipment that instantly loses value while in the books it still apparently has full value. If I spend $300 in cash and then transfer that $300 into assets for a piece of equipment that might be worth $20, how do you account for the loss of value??
Great video Larry, well explained and well structured. Thanks!
Thank you for this tutorial. Helps me a lot in reviewing basic accounting concepts ❤
All of your videos are absolutely amazing! I will definitely be passing accounting. Thank you!
Im having trouble with understanding which is purchased with Cash and which is on account. If anyone can help me i would greatly appreciate it.
Although a 9 yr old video but a very clearly explained and useful one!!! Thank you!!!
Awasome
thank you, great video simple to understand
Sir, thank you so much. God Bless You, Sir.
Dumpslark on telegram is the only vendor in Telegram thanks for the valid CC you are legit bro
Why all professors can't explained like you've done.
thank you for this great video !! helped me alot :)
The best teacher and best accent English .
God bless you.
Thank you for these videos!
It's so comprehensive and good explanation. thanks
Larry the guru of accounting
I believe this man has passed away...I feel bad because your videos made a whole lot difference to my understanding of Financial Accounting.
Where did you get info that he passed away?
Love your teaching style! Very easy to understand
The 5th item seems to be wrong: how can it be possible that an outflowing of cash (item 1 and 2) are recorded as the same of an inflow of it (item 5)...?!! Sorry for telling you..
Aw I will debit cash. and credit common stock for the first questions. The second is. Debit cash and credit Notes payables. This things are so great to review over and over. You tub platform is great for us. God blessed you all and all the professors.
You don't know it but you are saving lives in 2022
This was so helpful. Fast and to the point.
Even in 2024, this video helps sm !!
Very helpful, thank you.
this video was posted 8 years ago and the clearer video i have ever watched
OMG I'm glad I stumbled upon this video. I completely understood now our first lesson, lol. And I feel like I will never be confused anymore understanding this basic concept.
Is Common Stock same as a Capital Account?
Yes, I researched it and it stated that it is classified as an equity account. Equity means the same as capital. Hope I helped.
I read from another video it's owner equity or u can say it's capital
Thank you!!! Very informative
This was a great practice! Thank you
Anymore videos like this?
I have been hating Acc. big time , but once i saw your videos and how you explain them man you made me change my mind . Thank you Larry .
Thank you for this. Fantastic. Truly appreciated. I wish there were 100 more of these haha
Thank you very very much. You are very helpful.
i watched 50 videos and this is the only one I understood
Your videos are great.Straight to the point no chitchat. If there is a hearty Icon I probably clicked that.
Wish more videos could provide examples like these. Thank you!
So helpful, thank you! You're helping me get that MBA!
Debit what comes in
credit what goes out.
This guy is very good 👨🏫, if he’s not a teacher, he’s a very great person to explain accounting to new individuals. Thank you accounting tutor
Thank you so much, this helped alot
Thank you so much, finally I got it
Thank so much for this video are awesome
My question is would you really need to have all 12 of those accounts set up or is this just a record keeping system and you just have a few basic accounts set up to handle multiples of those transaction type?
It's helpful to understand basics
Thank you so much
tnx u open my mind on this basic accounting
It was very useful for me ! Thanks !
I need your help
I speak spanish but I dont understand accounting and I just failed the subject
and the hardest thing is that is in english
englsih is not my first language
I have to study something similar to the video
but I dont understand when is debit or credit
Hola Maria, en lo que le pueda ayudar, soy Contador y al igual que usted Inglés no es mi lengua principal. Mi correo electrónico para cualquier consulta: filirojas@gmail.com
This is great review
aaaye g, really appreciate it, much love from Germany and india
you are going really easy way to teach. step by step. thank you soooo much.
You’ve helped me so much!! I can’t thank you enough
I feel like I finally get it
I dont understand. Please i need help
Plz tell me I thing if we invest in business from our pocket how we will write that amount in debit and credit
Thanks, it was sooooo easy to follow.
Is this the same as general journal