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Accounting Concepts and Principles: Accounting Basics and Fundamentals
 
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This lesson will teach you 7 Accounting Concepts and Principles that underly all accounting studies and practice. To add relevance, reliability and comparability throughout the behaviour of all accountants globally, accountants follow these 7 accounting concepts in all their activities. This lesson should be the first topic you study in your Introduction to Accounting knowledge journey as it lays the fundamentals for all future accounting study. You will learn about: * The Entity Concept 2:07 * The Accounting Period Concept 5:08 * The Cost Principle 8:02 * The Matching Concept 11:34 * The Profit Recognition Principle 13:49 * The Conservatism Principle 16:50 * The Going Concern Principle 20:15 Each concept is explained both with the theory and an example or two. If you apply all these concepts & principles throughout your activity as a student, bookkeeper or accountant then you will be a successful accounting professional. So whether you are a accounting student, bookkeeper or MBA candidate with a finance subject, you should find value in this lesson. You can also get in touch anytime if you need any further help or clarification beyond the lesson. Just check out the contact details in our YouTube Channel. --------------------- Thumbnail Portrait: Photo by Bruce Mars from Pexels --------------------- This video was brought to you by AccoFina. Subscribe to the Channel: https://goo.gl/84Sfeg Or just check out the Channel Page: https://goo.gl/yTj9Bs Here’s AccoFina’s Most Popular YouTube Video: https://goo.gl/Jbv685 And here’s AccoFina’s Latest YouTube Upload: https://goo.gl/wDM83Y AccoFina Website, Product Pages and Social Networking: 1) Website (includes Free Spreadsheets, Free Books and Free Calculators) http://www.accofina.com 2) Amazon Author Page: http://www.amazon.com/author/axeltracy 3) Udemy Instructor Page https://www.udemy.com/u/axeltracy/ 4) Facebook http://www.facebook.com/accofinaDotCom 5) Twitter http://www.twitter.com/accofina 6) Google+ http://plus.google.com/+accofina
Views: 180836 AccoFina
Accounting for Beginners #1 / Debits and Credits / Assets = Liabilities + Equity
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! This is a great Accounting tutorial for the Basics of Accounting for beginners. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Help Support the channel by using one of my links. The Amazon link is my favorite, it is the same experience and same price for you, and i get a small kickback for purchasing goods from my amazon link. THANK YOU FOR YOUR SUPPORT. Amazon Affiliate Link: https://amzn.to/2MS2OMg CHANNEL OPTIMIZATION https://www.tubebuddy.com/CPASTRENGTH NEED PAYROLL FOR YOUR COMPANY https://gusto.com/r/SAtdL Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics #Accounting #Exercise #CPA #Accounting #Exercise #CPA
Views: 2252691 CPA Strength
Learn Accounting in 1 HOUR  First Lesson: Debits and Credits
 
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The ultimate video for new accounting students to learn basic accounting principles and accounting mechanics. This video assumes you know NOTHING and by the end of it, has you reading fortune 500 company financial statements. Learn more and become student at EF University for FREE - http://executivefinance.teachable.com/ Like us Facebook- https://www.facebook.com/exfinance/ Linkedin- https://www.linkedin.com/company/executive-finance Twitter- https://twitter.com/exfinance
Views: 1596597 Executive Finance
basic accounting concept
 
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basic accounting concept. This explanation of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology. Once you become familiar with some of these terms and concepts, you will feel comfortable navigating through the explanations, quizzes, puzzles, and other features of AccountingCoach.com. (In AccountingCoach PRO you will also find videos, visual tutorials, exam questions, and forms to assist you.) Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions. You will also see why two basic accounting principles, the revenue recognition principle and the matching principle, assure that a company's income statement reports a company's profitability. In this explanation of accounting basics, and throughout all of the free materials and the PRO materials—we will often omit some accounting details and complexities in order to present clear and concise explanations. This means that you should always seek professional advice for your specific circumstances.
Views: 261029 be ngo
Accounting  Principles & Concepts | Accounting Concepts | 11th | CA-CPT - By CA Pardeep Jha
 
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Accounting Principles & Concepts, Basic Accountancy by CA. Pardeep Jha, for XIth C.B.S.E. I've explained all the Basic Accounting Concepts and Principles of Double entry Book Keeping. Accrual Concept is discussed in detail in a separate video, Here is the link - https://youtu.be/R2kyJLau5_g This video covers - What is - 1. Prudence /Conservatism Concept 2. Money Measurement Concept 3. Full Disclosure 4. Materiality Concept 5. Cost Concept 6. Matching Concept 7. Realization concept 8. Accrual Concept 9. Consistency Concept 10. Entity Concept 11. Dual Aspect Concept 12. Going Concern Concept 13. Periodicity Concept You can Ask your Queries here or on our Facebook Page www.facebook.com/winningquest Prudence /Conservatism Concept Money Measurement Concept Full Disclosure Materiality Concept Cost Concept Matching Concept Realization concept Accrual Concept Consistency Concept Entity Concept Dual Aspect Concept Going Concern Concept Periodicity Concept What is Prudence /Conservatism Concept What is Money Measurement Concept What is Full Disclosure What is Materiality Concept What is Cost Concept What is Matching Concept What is Realization concept What is Accrual Concept What is Consistency Concept What is Entity Concept What is Dual Aspect Concept What is Going Concern Concept What is Periodicity Concept
Views: 16111 Winning Quest
Double entry Book keeping explained in 10 minutes
 
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Questions and links to videos are available on the following website: https://danielkingaccounting.wordpress.com/
Views: 75035 Daniel King
Double-entry Accounting and Bookkeeping principles explained in simple terms.
 
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Double-entry accounting is really very simple provided you follow the rules in the video. Learn more and take the 12 week online accounting course please visit: https://accountingforeveryone.com Everything starts with a Source Document. That is usually an invoice for something you have sold or a receipt for something you have bought. Each Source Document is copied into your double-entry system by creating Transactions. A Source Document always contains at least one complete transaction, and depending on your accounting system sometimes more. A double-entry transaction consists of a minimum of two Entries. That is, each transaction you create must have at least two entries. Each entry contains either a Debit or a Credit. Debits and Credits are amounts of money. For a Transaction to be true to the double-entry principle, two rules must be obeyed: 1. The entries involved must contain at least one Debit and at least one Credit. 2. The value of all the Debits must equal the value of all the Credits. Each entry must consist of a minimum of four pieces of data as follows: 1. Date 2. Reference (so it can be identified with a source document) 3. Amount (known as a Debit or a Credit) 4. Account (whose balance will be increased or decreased by the amount depending on whether it is a Debit or a Credit) Every transaction tracks an amount of money from one account to one or more other accounts. As long as the Debit amounts equal the Credit amounts, then we know that all the money has been accounted for. The idea that we are doubling the amount of data by making two entries is a myth. The two (or more) entries merely record the flow of money from one account to another. That is its sole purpose. It is called Double-entry because two entries are the minimum required to record the two accounts involved in every transaction. For example, buying a computer for your business involves your Bank and your Equipment accounts. Once the transaction has been entered, a look at your books will show how much you have left in your bank and how much you have spent on equipment. If you don't know these things, it is unlikely your business will stay profitable as you will have no idea what is going on. This is why double-entry accounting is used universally around the world and has been in existence for many thousands of years. To find out more about double-entry accounting and bookkeeping please visit https://accountingforeveryone.com Please also subscribe to this channel to get further simple updates to double-entry accounting so you can further your career or get your business in shape.
Views: 48853 Quentin Pain
Basic concept of accounting by Santosh kumar (CA/CMA)
 
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This is only a demo class. classes are available for CA/CMA/CS/B.COM( All universities), 11th, 12th. My all classes are available in Download link /Pen drive mode. You can also buy my classes on per chapter basis at conceptonlineclasses.com. for any query, please contact us on 01204225003/4/5 Mail us on [email protected]
Views: 619422 santosh kumar
Accounting For Beginners #2 / Basics / Accounting Equation / Accounting Tutorial
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! This is a video about Accounting Basics, it is an Accounting tutorial for beginners. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Help Support the channel by using one of my links. The Amazon link is my favorite, it is the same experience and same price for you, and i get a small kickback for purchasing goods from my amazon link. THANK YOU FOR YOUR SUPPORT. Amazon Affiliate Link: https://amzn.to/2MS2OMg CHANNEL OPTIMIZATION https://www.tubebuddy.com/CPASTRENGTH NEED PAYROLL FOR YOUR COMPANY https://gusto.com/r/SAtdL Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics #Accounting #Exercise #CPA #Accounting #Exercise #CPA
Views: 662503 CPA Strength
How to Make a Journal Entry
 
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This video illustrates how to make a journal entry in the general journal. It was prepared by Professor Anna Boulware at St. Charles Community College
Views: 1549609 am
Rules of Debit and Credit
 
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In this video, you will learn in depth about accounting of business transactions and learn about how they affect different accounts, and how to apply the rules of debit and credit in different situations.
Views: 907961 Finance Train
Basic Accounting Terms | Accounting Terminology | LetsTute Accountancy
 
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This session will help you to understand the basic accounting terminology/ basic accounting terms in a very easy language. This session is useful for anyone who wants to understand the basics of accounting. By watching this session you will be able to understand various basic accounting terms like what is a capital, what is a proprietor, what are fixed assets, what are goods, purchases, sales, creditor, debtor, etc. We have attached a PDF where one can get a quick glance of the whole chapter in few minutes. It will help you to understand what are the different objectives of accounting, it's importance, application, different terms used, etc. Also, there are objective type questions on the same. Link:- https://goo.gl/GP6FS6 You can buy our entire course on Accountancy : Amazon : https://goo.gl/c7Gq3m Udemy : https://bit.ly/2JwpfGJ Subscribe Us For More Updates: Link : https://goo.gl/pH6rtu Website : http://www.letstute.com/ To Get Regular Content Updates- Like Us On Facebook : https://www.facebook.com/letstutepage Follow Us On Twitter : https://twitter.com/letstute Add Us On Google+ for updates on our upcoming Videos https://plus.google.com/+Letstute Email us @ [email protected] WhatsApp your Queries on +91 7506363600 Visit our other channels LetsTute - Math / Sciecne / EVS http://bit.ly/1Q85cNP LetsTute Cbse Math https://goo.gl/kMGY4X LetsTute in Hindi https://www.youtube.com/channel/UCz17OJWV27c5FZKKBlLDXEw? Values to Lead (Value Education) http://bit.ly/1poLX8j
Views: 95476 Letstute Accountancy
Principles of Basic Accounting & BookKeeping
 
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Accounting stream student can get online BookKeeping assignment help at the reliable cost. BookMyEssay has experts' writer team who give 100% original content without any hassle. To know more here: https://www.bookmyessay.com/book-keeping-assignment/ #BookKeepingAssignmentHelp #AssignmentWriting #WritingService #NeedAssignment
Views: 10 BookMyEssay
Accounting concepts(english)| Accounting principles| class 11
 
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In this video iam explaining about concepts of accounting Link for accounting conventions video: https://youtu.be/53AQ3sFbQp0 #accountingconcepts #accountingprinciplesinenglish #principlesofaccounting #basicsofaccounting #accountancyclass11 #class11accounts #introductiontoaccounting #conceptsofaccounting
Accounting principle in hindi
 
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Thank you friends to support me Plz share subscribe and comment on my channel and Connect me through Instagram:- Chanchalb1996 Gmail:- [email protected] Facebook page :- https://m.facebook.com/Only-for-commerce-student-366734273750227/ Unaccademy download link :- https://unacademy.app.link/bfElTw3WcS Unaccademy profile link :- https://unacademy.com/user/chanchalb1996 Telegram link :- https://t.me/joinchat/AAAAAEu9rP9ahCScbT_mMA
Views: 46913 study with chanchal
Basic Accounting Principles
 
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This video discusses Generally Accepted Accounting Principles (GAAP).
Views: 26375 JBS CLASSES
Principles of Accounting - Lecture 01a
 
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Principles of Accounting; deifition; identify; record; communicate; organization, interested users; financial statements; stakeholders; internal users; external users; management; human resources; finance; customers; SEC; creditors; labor unions; investors; pay raise; dividend; ethics; financial scandals; Sarbanes-Oxley; balance sheet; income statement; GAAP; FASB; IASB; cost principle; historical cost; purchase price; verifiability; fair value;
Views: 395410 Krassimir Petrov
What is Double-Entry System | Accounting | MBA in Pills | 4wMBA
 
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As any other language, the accounting system has its own. Indeed, in accounting in order for you to record a transaction you have to use the double-entry system. Double entry means that each single transaction needs to be recorded twice, on the left side if debited and on the right side if credited. Usually, when you think of debit or credit in real life is different compared to debit or credit in accounting. In fact, debit does not mean that you have a debt to be paid back; neither credit means that you have money to receive. Check out our website at www.fourweekmba.com Subscribe to our youtube channel, to stay up to date with our content in the future.
Views: 52938 The Four-Week MBA
Accounting 101: Learn Basic Accounting in 7 Minutes!
 
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Welcome to Accounting 101: Learn Basic Accounting in 7 Minutes! This video teaches the basics of bookkeeping and accounting. It includes details about debits and credits, assets, liabilities, sales and expenses. Examples are provided and a quick description of the chart of accounts, profit and loss statements and the balance sheet is also included. Create a bookkeeping spreadsheet using Microsoft Excel http://youtu.be/LlWADbkGdac Support this Channel https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=FHGCUQ8GU9VB6 30 Free Day Trial on KashFlow Accounting Software http://www.kashflow.com/?code=AFF2105084 Free Bookkeeping and Accounting Course https://www.youtube.com/watch?v=IhYJbCAcCKE&feature=c4-overview&list=UUgPrg8qyvKaiED9tvdAIfpQ Learn more at www.freebookkeepingaccounting.com
Views: 287655 BookkeepingMaster
Accounting Equation - Double entry book keeping(Dual Aspect Concept):- by kauserwise
 
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▓▓▓▓░░░░───CONTRIBUTION ───░░░▓▓▓▓ If you like this video and wish to support this kauserwise channel, please contribute via, * Paytm a/c : 7401428918 * Paypal a/c : www.paypal.me/kauserwisetutorial [Every contribution is helpful] Thanks & All the Best!!! ─────────────────────────── Here is the video about Accounting Equation - Double entry book keeping(Dual Aspect Concept)with solved problem To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu
Views: 316294 Kauser Wise
Basic Accounting Principles
 
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Basic Accounting Principles Accounting has been defined as, by Professor of Accounting at the University of Michigan William A Paton as having one basic function: "facilitating the administration of economic activity. This function has two closely related phases: 1) measuring and arraying economic data; and 2) communicating the results of this process to interested parties." As an example, a company's accountants periodically measure the profit and loss for a month, a quarter or a fiscal year and publish these results in a statement of profit and loss that's called an income statement. These statements include elements such as accounts receivable (what's owed to the company) and accounts payable (what the company owes). It can also get pretty complicated with subjects like retained earnings and accelerated depreciation. This at the higher levels of accounting and in the organization. Much of accounting though, is also concerned with basic bookkeeping. This is the process that records every transaction; every bill paid, every dime owed, every dollar and cent spent and accumulated. But the owners of the company, which can be individual owners or millions of shareholders are most concerned with the summaries of these transactions, contained in the financial statement. The financial statement summarizes a company's assets. A value of an asset is what it cost when it was first acquired. The financial statement also records what the sources of the assets were. Some assets are in the form of loans that have to be paid back. Profits are also an asset of the business. In what's called double-entry bookkeeping, the liabilities are also summarized. Obviously, a company wants to show a higher amount of assets to offset the liabilities and show a profit. The management of these two elements is the essence of accounting. There is a system for doing this; not every company or individual can devise their own systems for accounting; the result would be chaos! Keyword : accounting articles,accounting assistant,accounting assistant job description,accounting aid society,accounting apps,accounting analyst,accounting associations,accounting assumptions,accounting abbreviations,accounting accrual,accounting basics,accounting books,accounting big 4,accounting balance sheet,accounting bls,accounting blogs,accounting basics pdf,accounting busy season,accounting business for sale,accounting basis,accounting coach,accounting cycle,accounting careers,accounting certifications,accounting clerk job description,accounting courses,accounting calculator,accounting clerk,accounting connect,accounting career path,accounting degree,accounting degree online,accounting dictionary,accounting definition,accounting debits and credits,accounting degree jobs,accounting description
Views: 3099 Mas Rohman
Principal of bookkeeping & double entry system
 
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Reference book 11th accountancy bser, cpt accountancy
Views: 598 RK MISHRA
ACCOUNTING CONCEPTS | DOUBLE ENTRY SYSTEM PART 1
 
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To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to explain the Double Entry System of recording transactions in Accounts and how a transaction can be decoded into 2 aspects which are the debit and the credit. LINK TO PART 2 https://youtu.be/9Xf2ecaN33A Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 79184 The Commerce Tutor
Chapter 1 - Review of Accounting Equation and how transactions affect the equation
 
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This screen recording reviews the concepts taught in sections 1-1 & 1-2.
Views: 183969 MrsDePriestSHS
Basic Bookkeeping | Xero
 
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Understand your business numbers that little bit more. We'll be taking a look at the basic principles of accounting (for example what are assets and liabilities, capital and equity etc) . We'll also take a closer look into the Chart of Accounts structure and how Xero automates your year end processes. Topics covered: basic bookkeeping concept, double entry bookkeeping, banking in Xero, bank feeds, Chart of Accounts structure, year end in Xero. Xero is beautiful accounting software for small businesses and their advisors. See your cashflow in real-time with online accounting, invoicing, payroll, billing & banking. Just login and see the difference. Sign up for a free trial at https://www.xero.com/signup Like us on Facebook: http://www.facebook.com/xero.accounting/ Follow us on Instagram: https://www.instagram.com/xero/ Follow us on Twitter: http://www.twitter.com/xero Follow us on LinkedIn: http://www.linkedin.com/company/xero Subscribe to our Youtube Channel here: https://www.youtube.com/user/XeroOnlineAccounting For Xero product support please visit: https://www.xero.com/support
accounting 101, accounting overview, basics, and best practices
 
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accounting 101, accounting overview, basics, and best practices. learn about external financial statements, internal managerial accounting reports, income tax systems and how they interact in business decision-making. in this course, we review the accounting equation, the three primary financial statements, how to use accounting basics to aid decision making, and how income taxes figure into business and personal decisions. this video tutorial includes: what is accounting? working with balance sheets and income statements, determining the costs of products, performing a break-even analysis, determining average and marginal tax rates, and understanding tax deductions and credits.
Accounting Concepts, Conventions and Principles - CA-CPT, CA Foundation  By CA Harish Miglani
 
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CA CPT Accounitng Concepts, Conventions and Principles
Views: 51668 ICAC, Rohtak
Basic Accounting Principles Part 1
 
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Basic Accounting Principles Part 1 by Mr. Jimmy Calata
Views: 21064 tPCAonline1
Accounting Equation - Ch. 1 Video 1
 
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Accounting Principles - The Accounting Equation
Views: 422358 mattfisher64
Basic Accounting Principles Tutorial 2
 
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Explains the very basics of the journal in accounting.
Views: 3762 DJjohnny0121
Accounting Concepts & Conventions for Beginners By Dr.Devika Bhatnagar
 
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Dear Students, Accounting Concepts & Conventions are very important basics of Financial Accounting. This topic is quite common in every Commerce & Management courses and also in B.Tech, MCA etc.. Stay Connected for more Commerce & Management topics. Don't forget to subscribe to my channel. Study well & Good Luck. Dear Friends, Follow the given Subjects & Chapters related to Commerce & Management Subjects: 1. Financial Accountancy https://www.youtube.com/watch?v=SUQMUc3Z3vs&list=PLLhSIFfDZcUUwKluDIB2exPUYc75Va37x 2. MEFA (Managerial Economics & Financial Analysis) https://www.youtube.com/watch?v=SUQMUc3Z3vs&list=PLLhSIFfDZcUVOc4-bhQI8kytZJyFwuw6Y 3. Business Law https://www.youtube.com/watch?v=ol2BXgF-P48&list=PLLhSIFfDZcUXbaSuijo00gIh4pj5If0iX 4. Statistics https://www.youtube.com/watch?v=NDO9SzxR3Vg&list=PLLhSIFfDZcUUj3w40cJgOm6WGAPjTp-iQ 5. Financial Management https://www.youtube.com/watch?v=1WFYjEppsSo&list=PLLhSIFfDZcUWjAqEki4OcBZwbfkleQIgb 6. BCRW (Business Communication & Report Writing) https://www.youtube.com/watch?v=G-8SzY9IT5o&list=PLLhSIFfDZcUXwAIY8ITJ7TzBnzP1EtmO0 7. Business Economics/ Managerial Economics https://www.youtube.com/watch?v=356_pioFiss&list=PLLhSIFfDZcUW8eZFwPrZjj_TBdelHfHho 8. Basic Introduction Chapter of Financial Accountancy https://www.youtube.com/watch?v=SUQMUc3Z3vs&list=PLLhSIFfDZcUUvnG9KstuhDOIZXo9FZBla 9. Bank Reconciliation Statement https://www.youtube.com/watch?v=m8ahJ25e4Lk&list=PLLhSIFfDZcUUc_ioAFpwYVHHkQJ5w7mlC 10. Final Accounts https://www.youtube.com/watch?v=wtNWOuLsUJk&list=PLLhSIFfDZcUUQtGFWu2-eURWKCSX6dWLX 11. Depreciation https://www.youtube.com/watch?v=cRjMDvzOdWg&list=PLLhSIFfDZcUWUyUW8WUrUn9RWEZOSS8Vw 12. Rectification of Errors https://www.youtube.com/watch?v=zCZoqINp5P0&list=PLLhSIFfDZcUVSIpZN8VZCu5AY1stxMMJ_ 13. Career Options https://www.youtube.com/watch?v=a2I3odjsxUo&list=PLJethYXgtvJTfjMAATTimLNUtjVtIS2el Do Subscribe to this channel & Don’t forget to share these videos. Sharing Is Caring…. Stay Blessed & Good Luck 😊 Follow my other Channels 1. Devika Bhatnagar (Soft Skills & Motivational Channel) https://www.youtube.com/user/devikabhatnagar 2. Carnatic Veena Classes by Devika Bhatnagar https://www.youtube.com/channel/UCz_bakiknBBUiqIVLjI3GnQ 3. Cook N Serve With Devika Bhatnagar https://www.youtube.com/channel/UC3kCzZNCe2FYvFl8pR3C4fg Follow my other talks in the given video links: 1. Inspirational Talks https://www.youtube.com/watch?v=MI9JxMJDZKE&list=PLJethYXgtvJR1QaJzobdkCtzzuExalI0i 2. Study Techniques https://www.youtube.com/watch?v=2By3t0M5CKA&list=PLJethYXgtvJRKeTqEuJq9nzGMuAX1hj2a 3. Job Skills https://www.youtube.com/watch?v=E_9EyONXLkI&list=PLJethYXgtvJTolzAYHZkCME9I4WTq5vFF 4. Group Discussion Tips https://www.youtube.com/watch?v=Hsv4_qN1tkE&list=PLJethYXgtvJQ12suBGNlBdjg9xYYzgO9a 5. Interview Skills https://www.youtube.com/watch?v=37emWxIi8qY&list=PLJethYXgtvJTtyEs9cf28XPj5bHoo1Wk3 6. Personality Development Talks https://www.youtube.com/watch?v=46uANV_a0WI&list=PLJethYXgtvJT-mcC8jGmpUtgwirUfBrpN 7. Communication Skills & Body Language https://www.youtube.com/watch?v=Hsv4_qN1tkE&list=PLJethYXgtvJQaZ8VmqpoWlOWXywU4dhRr 8. Inspirational Talks in Hindi https://www.youtube.com/watch?v=VOzuupbxOKA&list=PLJethYXgtvJSHkMHeX1Uo4kp88dUqIHuj 9. Telugu PD & Soft Skills https://www.youtube.com/watch?v=sYrvZ41JqfA&list=PLJethYXgtvJRkZO90kb5WP5y509KeEqs0 10. Healthy Cookery Recipes https://www.youtube.com/watch?v=Qez_mk83T70&list=PLJethYXgtvJR_lQ8vcAs9_q9qlWik-Va2 11. G.K & IQ Quiz https://www.youtube.com/watch?v=RZyptrjAKSs&list=PLJethYXgtvJQWgmvVtTdtq5lzBRGzQ64R 12. Health Talks https://www.youtube.com/watch?v=dG0hkRLpJnA&list=PLJethYXgtvJS7ze-h-YJRdLfyB99YoDvH 13. Most Watched English Talks https://www.youtube.com/watch?v=VxUawaJBXOM&list=PLJethYXgtvJTatyja4LX_Qn6UwrQu1C4r 14. Most Watched Telugu Talks https://www.youtube.com/watch?v=3c3KM1XjvPw&list=PLJethYXgtvJSGtu3R9z2Wzd9IxdpXXojU 15. English Grammar Classes https://www.youtube.com/watch?v=8W89YBhnUdg&list=PLJethYXgtvJSZVoOVyV56ALJA6OF0rDCM 16. Personality Development Books https://www.youtube.com/watch?v=ppd_4OGjvKU&list=PLJethYXgtvJSrkQeCn1eWRQKcQxYLVxbl
Module B - Principles of Bookkeeping - Topic 7 Part 1
 
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Topic 7 - Definition, Scope and Accounting Standards - Part 1
Accounting Basic Principles
 
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Learn about accounting basics, accounting principles, basic payroll principles and payroll accounting software. http://www.christianet.com/accounting/
Views: 3935 ChristiaNet, Inc.
Basic Accounting Concepts
 
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Learn the Basic Concepts of Accounting and finance in this video lecture of Basic Accounting Concepts : http://bit.ly/16o0OSy In basic Financial Accounting, certain rules/principles are classified as concepts and conventions. Explained in this video is the introduction and significance of various basic Accounting Concepts. This explanation of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology Join us on Facebook: http://www.facebook.com/welearnindia Read our latest blog at: http://welearnindia.wordpress.com Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLP Tgas : accounting basics, accounting concepts, basic accounting
FUNDAMENTAL ACCOUNTING CONCEPTS
 
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www.veduexcel.com VISIT MY SITE WWW.INDASSIMPLIFIED.COM
Views: 382388 k pavan sandeep
Module B - Principles of Bookkeeping - Topic 8 Part 1
 
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Topic 8 - Basic Accountancy Procedures - Part 1
Accounting Careers & Information : Learning Basic Accounting Principles
 
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The basic principles of accounting are established by the Generally Accepted Accounting Principles and include being able to record revenue and expenses. Accounting for a business should always include records of transactions for a given time period. Find out how to learn accounting principles with information from an accounting professor in this free video on accounting. Expert: Shawn Jones Contact: www.argosy.edu Bio: Shawn Jones is an accounting professor at Argosy University in Salt Lake City, Utah. Filmmaker: Michael Burton
Views: 5900 ehowfinance
Accounting Principles 1
 
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Accounting Principles - Credits and Debits
Views: 50777 Abhay Satpute
Accounting Principles
 
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This lecture is the part of basic accounting lecture series. This lecture is for dummies in accounting area who do not know the a,b and c of accounting. In this lecture, we will explain the main accounting principles.
Views: 11344 Svtuition
ACCA F3 Lecture 1 - Introduction to Accounting
 
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Lecture 1 of the F3 ACCA course from http://www.mapitaccountancy.com/ For the illustrations used or the rest of the lectures visit the website. For free content and ACCA / CIMA courses visit: https://www.mapitaccountancy.com/
Views: 58954 mapitaccountancy
Accounting 1: Program #2 - "Basic Accounting Concepts"
 
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Accounting 1 Program #2 Chapter 1 "Basic Accounting Concepts" [email protected]
Views: 784378 JCCCvideo
basics of financial accounting- Journal Entries (Malayalam)
 
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An introduction to journal entries with simple concepts.
Views: 167732 ECLAT INTERNATIONAL
Accounting Basics Lecture 1
 
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Ist video for the students whom we can't teach because of geographical barriers and time constraints. Thank you for your support.
Views: 174788 LBD
Wages Journal Basics - How to Payroll Accounting
 
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In this video, I share how to complete wages journals for payroll. This tutorial demonstrates UK Payroll accounting but the principles of double-entry are used internationally. The debits and credits of gross pay, net pay, employers and employees tax are detailed. Create a bookkeeping spreadsheet using Microsoft Excel http://youtu.be/LlWADbkGdac Support this Channel https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=FHGCUQ8GU9VB6 30 Free Day Trial on KashFlow Accounting Software http://www.kashflow.com/?code=AFF2105084 Free Bookkeeping and Accounting Course https://www.youtube.com/watch?v=IhYJbCAcCKE&feature=c4-overview&list=UUgPrg8qyvKaiED9tvdAIfpQ Learn more at www.freebookkeepingaccounting.com
Views: 34505 BookkeepingMaster