Financial Accounting in simple English, All Accounting topics covered.

Financial Accounting Full course
Goal for this video: 1 Like and 1 Subscribe from you. Please can you help me in this goal?
What Next? : Watch the Capital Budgeting Techniques video from my channel and you will benefit immensely. Here is the link: • Capital Budgeting Tech...
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Disclaimer: Some contents are used for educational purposes under fair use.
Copyright Disclaimer under Section 107 of the Copyright Act 1976, allowance is made for "Fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.
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Chapters of this Video:
0:00 - Financial Management Overview
4:18 - Accounting Basics, what is Accounting and why accounting is needed
7:12 - Transaction explained in Accounting
9:42 - What are different Accounting Standards, Periods and Boards and how these relate to each other
16:44 - All about Assets (Accounts Receivables, Current, Long, Tangible and In-tangible)
28:48 - All about Liabilities and different types of Liabilities (Current, Accrued, Contingent) with Examples.
34:10 - Important topic to consider watching - Capital, Equity, Income, Expense and the Process to derive Net Income from Revenue & cost Explained
01:01:05 - Crucial part (Accounting process end to end - right from Journal entries to generating financial statements)
01:35:25 - Financial Statements (Income Statement, Balance Sheet and statement of cash flow)
01:46:57 - What all was covered in the video
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Keywords for the video:
Basics of accounting,
Elements of accounting,
Accounting Process,
Transactions,
Credit entry,
Debit entry,
Double entry system,
Journal entry,
P&L account,
Balance sheet,
Cash flow statement,
Assets,
liabilities,
Capital,
equity,
Cash equivalents,
Accounts receivables,
Inventory,
PP&E,
Raw materials,
Semi-finished goods,
Fully finished goods,
prepaid expenses,
Deferred income taxes,
short term assets,
current assets,
Tangible assets,
Intellectual property,
copy rights,
Expenses (Costs)
Sales revenue
Other income
Depreciation,
Amortization,
Interest paid,
Taxes,
Gross profit,
EBITDA,
EBIT,
Net Income,
PAT,
Profit after tax,
Profit before tax,
Accounting equation,
Assets is equal to liabilities and Equity,

[@Shreaahaha]

Finance Accounting was really something new to me 2 hours ago!! but not anymore!!! 💯
Thanks for such a brief explanation with good examples.
This person really knows the answer to very known question : "How would you make this understand to a 5 year old?"😂

[@pmtycoon]

Thanks for the kind words 🙏

[@Jestice4all]

P, I have seen your 30 minutes teaching on time value of money and was blown away how you simplified it and made it so easy to grasp it quick. Now, miraculously you put this concise summary on financial accounting which I really really needed to brush on my aging knowledge on accounting. I was even considering going back to school to do this but your video is more than sufficient for my current need. Thank you brother!

[@pmtycoon]

Thanks Justice, you made my day with the wonderful comment 🙏💓

[@UndertheMicroscope225]

This was a very thorough video. I have always struggled with accounting but couldn't seem to stay away from Accounting Jobs. Just landed a Controller position and needed a refresher on the basics. This will be on repeat for me as I step into a new challenge in my career. May GOD bless you for putting together this course and may ALL of those who find this video ALL grow in knowledge and in whatever aspect of their journey in Accounting. GOD BLESS

[@pmtycoon]

Amen

[@talhabinasghar4567]

Oh my goodness. Your channel has all things that I was searching for almost 2 years and now here we are. Finally found a channel which really deserve Subscribers

[@pmtycoon]

🙏 thanks 🙏

[@gillyk3466]

Same

[@datasherlocka]

You are a talented teacher! Clear, comprehensive, structured view and you clearly understand what's relevant and what's not. Thank you!

[@pongringmei6672]

myself coming from completely professional background, but gaining all the necessary finance terms with this 1 hours 47 minutes. Thank you very much

[@pmtycoon]

Thank you for the feedback. Appreciate it much 😊

[@Outlier_G]

Bro you have to receive an award for summarization this accurate ❤

[@pmtycoon]

Thanks Luqman

[@mohitchaudhary241]

I wish he was my school teacher. I am sure you made the best video on accounting on whole TH-cam. By the way your new subscriber . Thank-you so much sir for making this video it helped me in my half yearly exam.

[@pmtycoon]

That's a sweet comment , thank you

[@troymasuku7260]

Thank you for taking 3 months of knowledge and compacting it into 1hour 48mins of enjoyable and easy to understand learning. Thank you for helping me to achieve my goal of understanding the Principles of Accounting.

[@pmtycoon]

Thank you Troy for the nice words

[@komminen]

you simplified the entire series in to one episode delivering every aspect of financial accounting. Thank you

[@pmtycoon]

Thanks Partha for the nice words, appreciate it.

[@hakenkreuz7525]

I can't explain how much this video meant for me 😭❣️this is just so special for me. God sent this video to me😍. Actually I've done science in the +2 and I'm currently studying bachelor of business studies(commerce). It's quite difficult to understand financial language because I've not done +2 in management so, I was so worried how I'm gonna understand everything 😭😭 I was afraid to ask to the teacher also about the minor problems. This video clear my all doubts☺️☺️. Thank you thank you thank you so much sir 🌺. You don't know sir how special this video is for me😍. You've done so well, really appreciate your work 😍. You'll get more appreciation in the future ☺️🌺. Keeps going sir ☺️💕 . Thank you so much ❣️. God bless you sir 😇😌

[@pmtycoon]

I can feel the pain you been through and relief you got. Hope this video gets shared and circulated all around so students don't have to suffer with basics and advanced concepts. I'm happy for you. May be I made this video for people like you.

[@hakenkreuz7525]

I've already shared this video to the friends like me 🙂. I really appreciate how you easily explain the complicated words by saying it's just nothing. I mean if the teacher says it's difficult we'll really feel difficult and if the teacher person says it's simple it's really become simple, it'll not leave fear like it's so difficult. It's the plus point in your videos 😊. Specially, Speaking so easily and slowly so the viewers can understand ☺️. Hope to see more videos in the upcoming days☺️🌺.

[@pmtycoon]

You bet! :) more on the way

[@sameer4167]

I am also troubling with same problem can uhh help me out? 😢

[@pmtycoon]

Which problem? You need to watch it and make notes.. to clear the concepts. Once concepts are clear, nothing is tough

[@anjumshaikh3175]

No words to express ..I must say you r award winning teacher.. Carry on!

[@pmtycoon]

Thanks 🙏 Anjum

[@DhitishmanDas]

It's very very helpful to me, I'm currently a Bcom Honours 1 sem student and due to the pandemic my basics were messed up and I passed the exams with only theories alone and Zero knowledge of practical stuff, thank you very much.

[@pmtycoon]

Glad it was helpful 😊

[@hussainzaki3082]

Honestly, one of the most amazing and on point lectures. Your legend

[@pmtycoon]

Wow, thank you!

[@JonnRamaer]

THIS VIDEO IS THE BEST I HAVE FOUND ON THE INTERNET !!! THE LOGICAL SEQUENTIALITY OF IT SHOULD BE USED IN ALL...I MEAN ALL SCHOOLS WHERE THIS SUBJECT IS TAUGHT AND WHERE EVER PEOPLE HAVE INTEREST IN LEARNING THIS MATERIAL. I AM RECOMMENDING THIS TO ALL MY FRIENDS, CONTACTS AND READERS. THANK YOU SO MUCH FOR MAKING THIS FANTASTICLY COMPREHENSIVE BEGINNERS WORK-VIDEO, IT IS ABSOLUTELY PERFECT !!!

[@pmtycoon]

Thank you Jonn for the comments, appreciate it 😊

[@Yukishak]

It’s a very effective learning material for me to revision for accounting as accounting needs practice for you to not fade out the format but thanks to this video 👍🏼 hope sir can continue with the other two topics of accounting control 🙏🏼

[@pmtycoon]

Thank you Yuki. Will do the same. Just keep suggesting what's needed

[@datasherlocka]

You are very talented at teaching! Thank you for such a comprehensive view of the topic

[@carmelakayerita5694]

Done watching this! It took me days to finish this, yet it is worth it.
Thank you Sir for your effort. This is indeed helpful.

[@pmtycoon]

I'm happy to see that you finished it. And thanks for the feedback

[@yasirgonzalez8969]

Amazing, very organized and simply explained! Great job!

[@pmtycoon]

Thank you 😊

[@oshandeshapriya]

Great video. Everything is summarized in a way that is easy to understand. Thank you very much. You are awesome!

[@pmtycoon]

Thanks Oshan

[@Aesthetic_Moon24]

All your hardwork is definatly seen in this brilliant video. I have liked and subscribed it and I wish you have loads of subscribers. I have made notes also of some important points. Though I am studying accounting from past few months this has worked as a booster and has cleared many doubts which I always had. Cant thank you enough. Please continue making such videos! Very best of Luck!!

[@pmtycoon]

Thanks Sana for taking time out and leaving nice comments. Appreciate it much. Will continue to do more videos

[@abdulbasith7323]

Amazing explaination.... And easy to understand... You deserve award Sir!

[@aadithyaramu4901]

man... this is just stunning... now I'm only at around 42nd minute but these are some crazy information defined in a neat way.

[@pmtycoon]

Thanks for the feedback. Yes this video has a lot covered in structural order. Glad you pointed out that. Very few did it. guess most dint watch completely

[@user-nq8qn1xy7z]

Excellent - Thank you for the post

[@prafulc7201]

Amazing content. All who want to learn accounting and keep it as a reference, this is gold.
Mnemonic/trick to remember Debit Credit in accounts:: 1:12:37
3 lines to remember.

[@se11111ee]

Very helpful! Thank you so much!

[@philipsanthosh7096]

This is the best explanation about Accounting in my experience. I studied accounting and never get trained. ❤

[@pmtycoon]

Glad it was helpful!

[@nikicdragan]

Real value here! Thank you man!

[@pmtycoon]

Thank you Dragan

[@fernandopintoamaralsoares3607]

cool, great job! I call this presentation as anatomy of accounting. It's really simplified❤

[@pmtycoon]

Thanks 🙏

[@1517SS]

This is amazing. I must say you are one of the finest teachers in the world. The way you simplified everything omg❤ Thankyou Thankyou so much I have subscribed your channel. Plz make more such video the one-stop solution for all the major parts of finance. Lots of 💕

[@pmtycoon]

Wow. This is so wonderful to see. Thanks a ton for your kind words 😊 and subscription

[@manjunathy4469]

Simply superb, Thanks very much to make this video for other to learn related to accounts, non-accounting back ground persons also easy to understand,

[@pmtycoon]

Thank you 💞

[@amitfromgurgaon2883]

I learned so many things from your video sir. Thanks a lot for making this video. This is a great head start for someone who wants to do well in financial accounting. Thanks again..!! :D

[@pmtycoon]

Great. Keep it up.👍

[@infoinkannada]

Very helpful video. First video I seen without skip even 10 second. Please make more videos. Really it's helpful to more people .

[@pmtycoon]

Thank you. Students like you make me happy :)

[@lifestylegoalswithnidhi2907]

Awesome content. Very well taught and elaborated the concepts. Being a science student, it was really difficult for me to understand the topics for my MBA exam. Thanks a lot.

[@pmtycoon]

You are welcome Nidhi

[@shreysichandra4578]

love your videos. please dont stop posting videos.

[@randylift]

Top Tier Overview, thank you!

[@deepanshidogra2356]

Ur teaching method is excellent!!! I will give u 101 out of 100👍🏻😊

[@pmtycoon]

😆 lol thanks

[@Supriyodas17]

This video is also an asset for me thank you ❤️

[@pmtycoon]

Glad to hear it's helpful. Thank you

[@jenniferkishai9649]

A LIFE SAVIOUR 👌....Thank u so much for the teaching🙏🙏 ... ur the best🙌🙌🙌

[@pmtycoon]

Thank you Jennifer

[@andrewkim1496]

Wow, I really appreciate you making this video~
You did a fantastic job in putting everything together.
It really puts everything in accounting into perspective.
Thank you!

[@pmtycoon]

Thanks 🙏

[@prashantchawariya3868]

It was really an amazing video.. i was trying to recall all the concepts of accounting.. n this video really helped me alot.. thank you so much for your efforts..

[@pmtycoon]

Thank you Prashant 😊 pls subscribe for more videos

[@prof.nileshgawade8421]

Really this video is gold mine for us..... thank you very much for your efforts

[@pmtycoon]

Glad to see this note coming from a Professor

[@kainatmazher9632]

Thank you so much for making Financial Accounting understandable. Keep up the good work. Stay blessed

[@pmtycoon]

My pleasure

[@jezzmoho4069]

Really appreciate the video ❤ I gained valuable knowledge thank you so much ❤😊

[@nethsiridarshana8455]

Best video ever seen. Thank you ❤️

[@pmtycoon]

Thank you

[@prashanthachar677]

Thanks for recall accounting... awaiting for ur upcoming videos .. ty for ur 3month hard work sir...😊👍👍

[@pmtycoon]

Thanks Prashanth

[@creators1399]

thankyou so much sir .....this video makes my concepts soo clear , and i have even completed my mba's accounting subject with this single video lots of tones thanks...

[@pmtycoon]

Great news. Well done

[@chengechaprince1189]

Wow,very simple ,to the point yet informative.Indeed Accounting made easy.Thank you .

[@pmtycoon]

Thanks Prince

[@samiplimbu175]

It is better than the others videos you explained it so well thank you😁

[@pmtycoon]

Glad you like it

[@user-aamirrrr]

Such an amazing and easy way to teach. You are legend.
Salute Sir ❤️❤️

[@pmtycoon]

Thank you 🙏😊

[@jimohibrahim5734]

I love the way you did justice to the subject. Nice1 👍. Pls can you do a video of financial analysis for a project assessment for a short term project

[@pmtycoon]

Thanks 🙏

[@pmtycoon]

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[@naveedjavid9546]

One of the best video that i find on TH-cam in my whole life ❤️❤️

[@pmtycoon]

That's a great feedback. Thanks for the kind words. 🙏👍

[@corsenioinoferiojr9276]

Subscribed! Thank you for your videos. Very helpful! :)

[@pmtycoon]

Thank you for the subscription

[@MatTroiNho13]

Thank you! I appreciate you! 🎉

[@pmtycoon]

You are so welcome

[@miniart6624]

Thank you very much 💖😊 sir...

[@mindrelaxingvideos8583]

Brilliantly taught and keep on making such videos, sir!

[@pmtycoon]

Thank you. Will do

[@desertsurfer3095]

Im greatful, this will forge good students of accounting, you deserve more

[@pmtycoon]

Thanks 🙏

[@AnneOkafor-lh7qb]

Thank you. Ive been able to refresh my memory on accounting.

[@pmtycoon]

Happy to know it was helpful

[@alejandravasquez691]

You're a genius!! thank you so much! 😍😍😍😍😍😍

[@pmtycoon]

Thank you Alejandra 😊

[@nileshjadhav4396]

Masterpiece.. you made it very easy...thanks

[@pmtycoon]

Thanks Nikesh

[@troymasuku7260]

Great teacher!!! 🔥🔥🔥

[@pmtycoon]

Thank you Troy

[@bikramjitdas9486]

Thanks a lot sir for this video lots of things I have learned once again thank a lot sir

[@pmtycoon]

You are very welcome. Happy learning. All the best

[@DreamFirms]

Great content!

[@pmtycoon]

Thanks Tyler for taking time out and commenting. Appreciate it much, was waiting to hear some initial feedback from viewers :)

[@SanJ]

ure a real one

[@nehajha471]

Great job sir for all of us , as these 1.47 mints ,are the REAL investment for us , 100 likes from me 👍👍👍

[@pmtycoon]

Thanks 🙏

[@issaosoro9737]

hats off for you man

[@pmtycoon]

Thank you 🙏

[@climbingtogether]

Thanks a for this simple and powerful presentation of Financial Accounting.

[@pmtycoon]

Our pleasure!

[@bhargavipannuru95]

very informative and useful video.Do make more videos on topics related to financial accounting.

[@pmtycoon]

Thanks and sure

[@beunsatisfied4883]

Your Explanations are mind blowing

[@pmtycoon]

Thank you 💖😊

[@user-xf6mt2ee4j]

that ' sososososo good, thank you!

[@pmtycoon]

Our pleasure!

[@GauravSingh-hn1ne]

You are damn good at this bro...👍
Just keep doing the good

[@pmtycoon]

Thank you Gaurav

[@aimanal-eryani7809]

Dude.. you're awesome keep up the good work really appreciated!

[@pmtycoon]

Thank you Aiman for nice words.

[@skabinash9559]

Thank you!

[@pmtycoon]

Welcome

[@kashifalijadoon583]

It was really an amzing video sir you'r teaching method is so Wonderfull very easily understand Thank you sir

[@pmtycoon]

Thanks Kashif

[@lisantafese9675]

Great!!

[@pmtycoon]

Thank you

[@sudeep.n6667]

Great job sir ❤ this video helped me to understand every concept and keep on making videos like this it very useful for students like me and I am requesting you to make a new video r upload a video atleast one in a week r 2 videos in a month 😊 sir u have superb teaching skill

[@pmtycoon]

Thank you Sandeep. Will try and do it.

[@IrfanKhan-resistance]

thank you so much Great video

[@pmtycoon]

You are welcome Irfan

[@chzacrazy4285]

Very impressive and motivating lesson indeed i have learnt alot through this video.

[@pmtycoon]

Glad to hear that

[@ithisrinu9593]

Hi sir I am very beginner , I understand obviously . Thank you . keep making videos 👍

[@pmtycoon]

Glad it was helpful

[@technicallearning3399]

Liked and subscribed.. you deserve huge subscriber ... great explanation

[@pmtycoon]

Thanks for subscribing. And kind words

[@lajosn]

Thank you. You make me released a lot.

[@pmtycoon]

Glad I could help!

[@liuuu534]

Thank you so much!

[@pmtycoon]

You are welcome

[@julie_chen]

Sending this link to my son who is doing A Level business studies.

[@pmtycoon]

Glad you found it helpful to share. Thank you Julie, Appreciate it.

[@HMH817]

Great video lessons. Very easy to follow and understand.

[@pmtycoon]

Thanks 🙏

[@huyenyeu3347]

thank you so much !

[@pmtycoon]

You are welcome

[@bostonshimulize7995]

Thank you so much you have educated so much

[@pmtycoon]

You are welcome 😊

[@bhingyvojrecelasocalba5673]

Thank you for sharing this matters its abig help

[@pmtycoon]

You are welcome and pls us reference documents too. Thanks for the feedback. Would appreciate if others can give feedback too

[@VRaveendranadhaReddy]

it's a great session of accounting overview

[@pmtycoon]

Thank you

[@AliHamza-hp4kn]

Thank you so much bro.😊❤️

[@pmtycoon]

Welcome

[@mamtakam3888]

super cool for beginners like me

[@pmtycoon]

Great 👍. Thank you

[@uditvashisht15]

Thank you so much sir 😊

[@pmtycoon]

Most welcome

[@faraitrevor]

Thanks

[@muhammadawaisawan1604]

Nice

[@meghatejwani9236]

Helpful👍

[@pmtycoon]

You are welcome

[@sohagrichil9944]

Thanks a lot sir for giving us a very important lesson

[@pmtycoon]

Thank you Sohag

[@annapurnabonakurthi9174]

Thanks a lot for such a wonderful brain mapping accounting video...While working in ERP what are majors points to be keyin as a fiance funtioanl consultant. Awaiting for a valuable Suggestion..Keeping Uploading more videos based on ERP ,master Data..Thanks Annapurna

[@hoehoe360]

Thankyou💯💙

[@pmtycoon]

Welcome

[@Jennythmoon]

Thanks!

[@pmtycoon]

Thanks Jenny for the kindness. Your gesture leaves me with an award winning feeling 🙏😊.

[@yogeshshrestha5028]

just wow

[@pmtycoon]

Thank you

[@aishwaryarao3047]

Sir, please make video on cost accounting in depth about Variable fixed and O/H cost and also variances..request you to cover it on whole, it will be really helpful.

[@pmtycoon]

Sure Aishwarya