The BALANCE SHEET for BEGINNERS (Full Example)

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  • เผยแพร่เมื่อ 28 พ.ค. 2024
  • 💥Balance Sheet Cheat Sheet → accountingstuff.com/shop
    🖊Balance Sheet Practice Questions → accountingstuff.com/practice-...
    The 'Balance Sheet', or 'Statement of Financial Position' (SOFP) is one of the three major Financial Statements, along with the Income Statement and the Statement of Cash Flows. In this tutorial, you'll learn what a Balance Sheet is and I'll show you how to build one using a Trial Balance.
    🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
    ⏱️TIMESTAMPS
    00:00 - Intro
    00:17 - Balance Sheet Definition
    00:33 - What is a Basic Balance Sheet?
    01:15 - What is a Detailed Balance Sheet?
    02:18 - How to Make a Basic Balance Sheet
    05:11 - How to Make a Detailed Balance Sheet
    🔗VIDEO LINKS
    ▪ Income Statement → • The INCOME STATEMENT f...
    ▪ Balance Sheet → • The BALANCE SHEET for ...
    ▪ Cash Flow Statement → • The CASH FLOW STATEMEN...
    ▪ Book Review → • The Accounting Game - ...
    🔝 CLOUD ACCOUNTING SOFTWARE
    ▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → geni.us/jA9N
    ▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → geni.us/bNN7
    ▪ Xero (FREE TRIAL) → xeroamericas.grsm.io/ck90eoq1...
    🔎FAQ
    ▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
    🚶FOLLOW ME ON
    ▪ Instagram → / accountingstuff
    ▪ TikTok → / accounting_stuff
    ▪ Facebook → / thisisaccountingstuff
    🎬LEARN ACCOUNTING BASICS FOR FREE
    ▪ The Full Playlist → • ACCOUNTING BASICS for ...
    ________________________
    DISCLAIMER
    Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
    ________________________
    #accounting #accountingstuff

ความคิดเห็น • 507

  • @AccountingStuff
    @AccountingStuff  2 ปีที่แล้ว +68

    ⏱️TIMESTAMPS
    00:00 - Intro
    00:17 - Balance Sheet Definition
    00:33 - What is a Basic Balance Sheet?
    01:15 - What is a Detailed Balance Sheet?
    02:18 - How to Make a Basic Balance Sheet
    05:11 - How to Make a Detailed Balance Sheet

    • @jamongjuice
      @jamongjuice 2 ปีที่แล้ว

      seriously, you are my new favorite channel on youtube. can't thank you enough for all the time and effort you put into this channel!

    • @estershimwafeni9083
      @estershimwafeni9083 ปีที่แล้ว +1

      Thanks

    • @aprilannomega
      @aprilannomega 7 หลายเดือนก่อน

      i have quetions please :) how do you get retained earnings values: 19700

    • @NasraAhmed-kl4gx
      @NasraAhmed-kl4gx 6 หลายเดือนก่อน

      Teacher how can I withrow my cash?

  • @animalstales867
    @animalstales867 3 ปีที่แล้ว +334

    Can you teach professor's how to teach?

    • @felixhoang7407
      @felixhoang7407 ปีที่แล้ว +2

      If my professor is this interesting.

    • @Lynnjoh
      @Lynnjoh 5 หลายเดือนก่อน

      😂

    • @Luke-gp2in
      @Luke-gp2in 5 หลายเดือนก่อน

      lol same i feel you bro🤣

    • @fantomman3881
      @fantomman3881 3 หลายเดือนก่อน

      Professors are poor MFErs 😂

    • @Whatareevenbirds
      @Whatareevenbirds 2 หลายเดือนก่อน +1

      Bro my professor tells us to make group presentations and lets my classmates and I teach/present to eachother while he scrolls through tiktok😭 Like damn, if i knew this was the case, I wouldn't have enrolled and just go to the public library. Less time and money wasted

  • @magdalenacruz29
    @magdalenacruz29 3 ปีที่แล้ว +51

    Just wanted to say THANK YOU, a year ago I got a job because of you, as one of your videos ended-up having all the answers to the questions the interviewer asked me : D. I laughed inside during the interview as I said " this guy saved my a**"

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +10

      Congrats on landing your job!!! That's amazing news. Hope it goes well :)

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว

      Awesome, also have an accounting channel, you can check it out

  • @patrickjohnson721
    @patrickjohnson721 3 ปีที่แล้ว +170

    Literally the best teacher ever - thank you so much for all the support

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +13

      Cheers Patrick!

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว

      Awesome, also have an accounting channel, you can check it out

    • @thek4lqueen
      @thek4lqueen 2 ปีที่แล้ว

      Ikrrrr better than any of my teachers

  • @RabbitohsSupporter
    @RabbitohsSupporter 3 หลายเดือนก่อน +12

    Damn, literally explained everything I needed to know about balance sheets in a 7 min video, waaaaay better than my uni lecturer did in 1.5 hours. Engaging, clear and concise!!! 10/10 from me. :)

    • @AccountingStuff
      @AccountingStuff  3 หลายเดือนก่อน

      Thanks! Great to hear you found it useful :)

  • @FreyaStark26
    @FreyaStark26 3 ปีที่แล้ว +107

    You genuinely breathe life into your educational accounting content. It can be a pretty dry subject to teach and learn, but you have found the secret to making it exciting and easy to learn. Great job!

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +4

      Thanks for your kind words!!

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว +1

      Awesome, also have an accounting channel, you can check it out

  • @catherinecalavrias5280
    @catherinecalavrias5280 ปีที่แล้ว +12

    you helped me more than what I am being taught at university, making it so simple and straight forward. Thank you so much!!

  • @braideddragon
    @braideddragon หลายเดือนก่อน

    this is a LIFESAVER. i've been so confused and my test is ... in an hour. thank you for your service.

  • @nolanreddy1772
    @nolanreddy1772 3 ปีที่แล้ว +5

    Greatest teacher in world.
    Learnt more in this video than I did in 4 months from my teacher.
    Much appreciated!

  • @daniaomais3895
    @daniaomais3895 ปีที่แล้ว +1

    Thank you so much for the video, I really liked the video, you really put a whole semester in 6 minutes, and in easy terms, keep it up!

  • @sinahajiazizi6311
    @sinahajiazizi6311 ปีที่แล้ว +2

    Your videoes are life-saving. Also thanks for your book suggestion "The Accounting Game" which I enjoyed reading. It helped me a lot to with the basics.

  • @theschoolofafricanlanguage6385
    @theschoolofafricanlanguage6385 19 วันที่ผ่านมา

    Great job!!! Clear, concise and engaging. Will definitely recommend.

    • @AccountingStuff
      @AccountingStuff  19 วันที่ผ่านมา

      Thanks, great to hear you found it useful!

  • @pullemfreight150
    @pullemfreight150 ปีที่แล้ว

    Great Video. Very thorough & helpful

  • @richardpicard4824
    @richardpicard4824 2 ปีที่แล้ว +9

    You are awesome James! Keep up the great work man. These videos are an amazing substitute for my Accounting courses. It's crazy how you can clear up so many things that wasn't clarified by my teacher for Financial accounting.

  • @tebogosetlhoka5530
    @tebogosetlhoka5530 3 ปีที่แล้ว +1

    My best teacher ever. You make accounting simple. Thank you so much.

  • @accountsbalance
    @accountsbalance 5 หลายเดือนก่อน +1

    Great tutorial! Its very informative and fun at the same time. You definitely put a lot of effort in your content to make accounting easy to learn!

    • @AccountingStuff
      @AccountingStuff  5 หลายเดือนก่อน

      Thanks for your kind words!

  • @dyangetz5040
    @dyangetz5040 11 หลายเดือนก่อน

    Well done! You make it interesting!

  • @emilyb7867
    @emilyb7867 3 ปีที่แล้ว +9

    James! Your videos are one of the most useful things in learning accounting! They have helped me a lot and I am very grateful for your channel!
    I wish all the bests to you! I hope this channel booms in popularity as anyone needs some basic accounting info to be financially literate!

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +2

      Thanks Anxhela! Great to hear you're enjoying these vids. All the best :)

  • @soledadgimenez5885
    @soledadgimenez5885 ปีที่แล้ว

    wow you are the best teacher ever !!!! thank you !!!!

  • @abosedetowoju5083
    @abosedetowoju5083 8 หลายเดือนก่อน

    I enjoyed this so much. I am transitioning from Human Resources to Accounting and Finance. This has really helped with my understanding.

    • @AccountingStuff
      @AccountingStuff  8 หลายเดือนก่อน

      That's great to hear! All the best with your career change

  • @user-yf6hz2mm6t
    @user-yf6hz2mm6t 2 ปีที่แล้ว

    OMG!!!!! I finally got it! You made my life so much easier)

  • @alexandervalladares2501
    @alexandervalladares2501 3 หลายเดือนก่อน

    Your teaching methods are so simple and clear .. You are simply amazing !!!

    • @AccountingStuff
      @AccountingStuff  3 หลายเดือนก่อน

      Thanks, glad you enjoyed it :)

  • @youmultigreattimes1695
    @youmultigreattimes1695 ปีที่แล้ว

    This was an amazing video, thanks so much 😊

  • @eshaeshal877
    @eshaeshal877 ปีที่แล้ว

    Amazing 😍 finally I got the perfect Sir for accounting ❤️

  • @titreynium8115
    @titreynium8115 ปีที่แล้ว +1

    Thank you so much for your help. This video and your videos on income statements have really solidified my understanding of the concepts.

  • @DreamFirms
    @DreamFirms 3 ปีที่แล้ว

    Another great content from your channel!

  • @salman-anjum
    @salman-anjum ปีที่แล้ว

    Your way of describing is incredible
    I just wanna subscribe your channel 1000 times
    Thanks for help, the day after tomorrow will be my interview

  • @rubymarie8834
    @rubymarie8834 2 ปีที่แล้ว

    thank you so much I was struggling in Prin of Financial Accounting

  • @annabenashvili7263
    @annabenashvili7263 2 ปีที่แล้ว

    Had just 2 lectures, and I'm already feeling the stomach ache of failing the class :D You're my only hope!

  • @Delmass3547
    @Delmass3547 3 ปีที่แล้ว

    Thanks so very much for your common sense approach to Accounting, I appreciate you.

  • @satisfyingsauce3051
    @satisfyingsauce3051 4 หลายเดือนก่อน +1

    literally have a financial accounting exam in a few hours and this was helpful! Thank youuu

    • @AccountingStuff
      @AccountingStuff  4 หลายเดือนก่อน +1

      Good luck!!!

    • @satisfyingsauce3051
      @satisfyingsauce3051 4 หลายเดือนก่อน

      @@AccountingStuff thank you! a lot of it came up so I’m very grateful for the amazing accounting vids😊😊

  • @ryanarment5393
    @ryanarment5393 3 ปีที่แล้ว

    you got me through my last accounting class. Thanks mate!

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว

      Awesome, also have an accounting channel, you can check it out

  • @phowops
    @phowops หลายเดือนก่อน

    I will be taking Accounting this spring for my MBA here in Canada and your teachings have been absolutely brilliant. I am certain to have the best result!!

    • @AccountingStuff
      @AccountingStuff  หลายเดือนก่อน

      That's good to hear! Best of luck when it comes round :)

  • @esnartkaira4506
    @esnartkaira4506 ปีที่แล้ว

    Love your teaching

  • @fredlim2534
    @fredlim2534 ปีที่แล้ว

    You made difficult easy to understand what a great facilitator you are.

  • @abenezerhabeshawi1089
    @abenezerhabeshawi1089 7 หลายเดือนก่อน

    you dont understand how much I appreciate this video. Thank you.

    • @AccountingStuff
      @AccountingStuff  7 หลายเดือนก่อน

      Great to hear you found it useful!

  • @RockitSiri10
    @RockitSiri10 7 หลายเดือนก่อน

    you make every video so interactive......keep up the good work sir!

  • @yoshiu5167
    @yoshiu5167 3 ปีที่แล้ว +2

    Always nice diagrams with movements that make the tutorial exciting. Also, nice idea putting the "wrong way" to create the B/S. It's these conceptual details that need to click. Great job making this vid!

  • @odense1
    @odense1 4 หลายเดือนก่อน

    Excellent video. Thank you.

  • @12Manny
    @12Manny 5 หลายเดือนก่อน

    Thank you, great illustration

  • @kevywilliams3304
    @kevywilliams3304 9 หลายเดือนก่อน

    You’re amazing !!!! I just ordered the complete practice / cheap package !!!!

    • @AccountingStuff
      @AccountingStuff  9 หลายเดือนก่อน

      Thanks for your support!

  • @duckyanna9852
    @duckyanna9852 2 ปีที่แล้ว

    amazing help, thank you

  • @annelievanwyk327
    @annelievanwyk327 3 ปีที่แล้ว

    Your videos and cheat sheets are so great!

  • @TheGippy30
    @TheGippy30 3 ปีที่แล้ว +1

    thanks James youre a star

  • @julietapompo-lewis3895
    @julietapompo-lewis3895 2 ปีที่แล้ว

    Thank you for this!

  • @zhimeipen294
    @zhimeipen294 2 ปีที่แล้ว

    You're a scientist who makes things simple!

  • @bridgetgoodman562
    @bridgetgoodman562 7 หลายเดือนก่อน +1

    This was incredibly helpful! Subscribed immediately

    • @AccountingStuff
      @AccountingStuff  7 หลายเดือนก่อน

      Wooo! Great to have you on board!

  • @hailuberhanu8755
    @hailuberhanu8755 ปีที่แล้ว

    u are amazing and ur explanation is also so cool, I would like to continue learning from u. Thank you

  • @2ndChance54
    @2ndChance54 2 ปีที่แล้ว

    Thank you so much for this good and great explanation. I have subscribed to your channel and I will keep learning with your videos.

  • @peterbaez4222
    @peterbaez4222 2 ปีที่แล้ว

    thanks ,very helpful

  • @muhammadtauqeer8650
    @muhammadtauqeer8650 หลายเดือนก่อน

    Very well explained!

  • @kcsreevalsan4032
    @kcsreevalsan4032 2 ปีที่แล้ว

    Really appreciate your efforts..so easy to understand.👍

  • @RajeetSinghTVr
    @RajeetSinghTVr 2 ปีที่แล้ว

    Brilliant explanation, thank you!

  • @SithangaSasvindhu
    @SithangaSasvindhu ปีที่แล้ว

    Thank you so much, your videos helped me a lot to achive good marks in the exam.

  • @ll-owo-ll
    @ll-owo-ll 5 หลายเดือนก่อน

    helped me solve a question i was stuck in for days. thank you so much :D

    • @AccountingStuff
      @AccountingStuff  5 หลายเดือนก่อน

      No worries, glad it was helpful!

  • @nicolewalker6894
    @nicolewalker6894 2 ปีที่แล้ว +1

    This was so much easier to understand than my accounting book. 😭🙏

  • @bendoverson3457
    @bendoverson3457 3 หลายเดือนก่อน

    You’re the type of teacher I aspire to be, keep up the great work

    • @AccountingStuff
      @AccountingStuff  3 หลายเดือนก่อน

      Thanks and all the best :)

  • @pomaklohor1329
    @pomaklohor1329 9 หลายเดือนก่อน +1

    Learning is so simple and easy . You are a great facilitator. Can you please do a video on consolidation?

    • @AccountingStuff
      @AccountingStuff  9 หลายเดือนก่อน

      Thanks for your request!

  • @o0oo0o22
    @o0oo0o22 10 หลายเดือนก่อน

    I was in total lost for this module thank god u saved me!

  • @surendarsiva158
    @surendarsiva158 3 ปีที่แล้ว +1

    Fantastic explanation!

  • @rumana5696
    @rumana5696 3 ปีที่แล้ว +1

    Thank you so much

  • @NguyenTran-qz5cv
    @NguyenTran-qz5cv 2 ปีที่แล้ว

    Awesome! Very useful :D Thank you so muchhh

  • @gustavotintaya2078
    @gustavotintaya2078 ปีที่แล้ว

    I really understand how to make a balance sheet.Thanks\

  • @allegrayang9904
    @allegrayang9904 2 ปีที่แล้ว

    Excellent! Thanks

  • @user-dx7rj2vg5h
    @user-dx7rj2vg5h ปีที่แล้ว

    you just saved my life

  • @lizo8925
    @lizo8925 3 ปีที่แล้ว +2

    Best explanations of accounting terminology & process I’ve found!
    Have you made any on ratios?

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +1

      Not yet, but I'm planning to make a whole series on them

    • @lizo8925
      @lizo8925 3 ปีที่แล้ว

      @@AccountingStuff oh yes! Please do 🙏

  • @srikanthram4246
    @srikanthram4246 3 ปีที่แล้ว +1

    Cool presentation !!

  • @taylorandrews4461
    @taylorandrews4461 3 ปีที่แล้ว +1

    Another great video much appreciated

  • @abirjas1192
    @abirjas1192 3 ปีที่แล้ว +1

    Perfect timing💜💜💜

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว

      Awesome, also have an accounting channel, you can check it out

  • @ahmadasghar4984
    @ahmadasghar4984 3 ปีที่แล้ว +1

    Thanks a lot for your videos.🥰

  • @clairemadriaga5052
    @clairemadriaga5052 3 ปีที่แล้ว

    Thank you for this video. It was very helpful for my college entrance exams!!!

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +1

      No worries, best of luck with them!

  • @yousufmohammed5705
    @yousufmohammed5705 3 ปีที่แล้ว +5

    Oh yes my professor is back ❤️. Where have you been all this time?

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +5

      Apologies for the delay! These vids take ages for me to put together. Hope to be back soon

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว

      Awesome, also have an accounting channel, you can check it out

  • @eeerick_mz
    @eeerick_mz 9 หลายเดือนก่อน

    it helped me a lot, thanks

  • @hmohar
    @hmohar 2 ปีที่แล้ว +1

    Your videos are helping me through my first year of accounting school- and propelling me towards the career change I need! Please keep it up :)

    • @AccountingStuff
      @AccountingStuff  2 ปีที่แล้ว

      Best of luck with your career change!

  • @sanyogitasrivastava3673
    @sanyogitasrivastava3673 3 ปีที่แล้ว +2

    Your explanations clear my all doubts Thanks a lot sir it's really help me for my exam🤗

  • @MrDCD007
    @MrDCD007 3 ปีที่แล้ว +1

    Hi James, Good to see your video again. As always Best financial helper

  • @JohnWhite-ms5wr
    @JohnWhite-ms5wr 2 ปีที่แล้ว

    Well, I think I've watched enough of your videos for this week of class for you to earn a sub. Thanks. Not sure if I'm doing it all to my professor's liking, at least I'm not totally lost now.

    • @AccountingStuff
      @AccountingStuff  2 ปีที่แล้ว

      Great to have you on board! All the best with your studies :)

  • @viviankaswarra6308
    @viviankaswarra6308 11 หลายเดือนก่อน

    I don’t even know why you don’t open up a University …. You are spot on👌🏾👌🏾👌🏾👌🏾👌🏾

  • @edgarwhitney9711
    @edgarwhitney9711 2 หลายเดือนก่อน

    Please never stop make ng vids, humor is great thank you!

    • @AccountingStuff
      @AccountingStuff  2 หลายเดือนก่อน

      Thanks, I'll keep them coming :)

  • @AccountingPro
    @AccountingPro 3 ปีที่แล้ว +1

    Very nice presentation. 👍

  • @RydVibes-se3tl
    @RydVibes-se3tl 23 วันที่ผ่านมา

    Bro I just subscribe to your channel, you're true legend

    • @AccountingStuff
      @AccountingStuff  23 วันที่ผ่านมา

      Great to have you on board!

  • @mahdichaal8756
    @mahdichaal8756 2 ปีที่แล้ว

    Always the best , God bless you

  • @kingserene4472
    @kingserene4472 3 ปีที่แล้ว +4

    Wonderful James! Having a Financial accounting midterm test tomorrow, hope I will do well.

  • @ishihayagan
    @ishihayagan 3 ปีที่แล้ว +2

    Thank you for existing😭😭

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว

      Awesome, also have an accounting channel, you can check it out

  • @jacobphiri1944
    @jacobphiri1944 ปีที่แล้ว

    Excellent

  • @RashmikaReactsHindi
    @RashmikaReactsHindi 2 ปีที่แล้ว +1

    Much love sir 🏆💟

  • @whuttefuk9837
    @whuttefuk9837 5 หลายเดือนก่อน

    gosh glad i found you

  • @akankshapathak9723
    @akankshapathak9723 2 ปีที่แล้ว

    You are amazing👍

  • @Rakshak728
    @Rakshak728 3 ปีที่แล้ว

    Really great work thx sir

  • @sergiu5152
    @sergiu5152 3 ปีที่แล้ว

    Hey dude I just bought your cheat sheets! Amazing Content!

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว +1

      Cheers for your support! All the best :)

  • @deebaji
    @deebaji 3 ปีที่แล้ว

    Ooh..u made me remember the days I was doin' B.Com..

  • @letsglowwqueen
    @letsglowwqueen 3 ปีที่แล้ว +1

    Please don't stop making these videos bro ❤️

  • @nihalriyas295
    @nihalriyas295 3 ปีที่แล้ว

    Thank you james 👍🏻✨

  • @themitheophotography3978
    @themitheophotography3978 3 ปีที่แล้ว +3

    Thank you for these videos, really makes a difference. Ive been taking business classes for years and these videos make me realize they dont teach hands-on experience. Thank you again

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว

      Cheers mate! Hope your studies are going well

  • @UnknownUser-ug4iz
    @UnknownUser-ug4iz 3 ปีที่แล้ว +2

    This guy deserve a million subscribers or atleast half a million. No kidding because he explain everything clearly and briefly. Keep it up

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว

      Thanks!!

    • @de-kingstutor
      @de-kingstutor 3 ปีที่แล้ว

      Awesome, also have an accounting channel, you can check it out

  • @lakeishamangrum5927
    @lakeishamangrum5927 2 ปีที่แล้ว

    Thank you!!! Retained freaking Earnings is what I was missing :-)

  • @Hhhhhjhhhggyghhj
    @Hhhhhjhhhggyghhj 3 ปีที่แล้ว

    I m a chartered accountant student . My basics r nt clear ur vedios r helping me a lot..thank you very much

    • @AccountingStuff
      @AccountingStuff  3 ปีที่แล้ว

      Nice one! Hope it's going well. We all have to refresh ourselves on the basics from time to time :)

  • @blaisekasongo1775
    @blaisekasongo1775 2 ปีที่แล้ว +1

    Perfect!

  • @uchechukwunnadi2669
    @uchechukwunnadi2669 2 ปีที่แล้ว

    This guy is better than my teacher, u're very good at what you do

  • @rezakhan1304
    @rezakhan1304 6 หลายเดือนก่อน

    Wow , you are great !

    • @AccountingStuff
      @AccountingStuff  6 หลายเดือนก่อน

      Glad you're enjoying these