What are Assets? (Let's Break Them Down)
ฝัง
- เผยแพร่เมื่อ 28 พ.ค. 2024
- 🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
Discover what Assets mean in Accounting. This episode is part of a series exploring Accounting Basics. To see the whole playlist check out the link below. In this Accounting tutorial you’ll hear the definition of Assets in Accounting. I'll also take you through the common types of Asset that are worth knowing about.
⏱️TIMESTAMPS
00:00 - Intro
00:47 - What are Assets in Accounting?
01:30 - Assets Defintion
01:54 - Uncertainty about the Future
02:40 - Future Economic Benefit
03:33 - Straight Line Depreciation
04:00 - Obtained and Controlled
05:08 - Balance Sheet Definition
05:40 - Current Assets
07:00 - Non-Current Assets
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#accounting #accountingbasics #accountingstuff
James, keep doing this. You have a lot of knowledge, humor, and passion in explaining difficult concepts in the easiest way possible. You. Are. Shredding. This!
Thanks for all you do!
Thanks for your support! I plan to make many more videos like this
this comment literally explains it all
@@AccountingStuffwhat the main said, said it for all of us
Thanks!@@kuklei
2:20 😆😆😆😆😆 can't stop replaying
Jesus, your videos are amazing! Accounting is finally making sense to me
That is fantastic to hear, good luck with your studies!
I know right
He's is NOT lying! Why were we blessed with such an ameowzing🐶 Accounting teacher?! He's TOO GOOOOOOD!
@@meopup absolutely agree!!!
Yessssss!!!!
Totally agree that assets are more than just numbers on a balance sheet! They're like the secret sauce that can boost a company's revenue, give it a competitive edge, and help it stay nimble in this fast-changing economy. Really shows how smart asset management is key to success.
Wow, I really love the way you edited the video, good quality, easy to understand. Thank you a lot, sir
Glad to hear that you enjoyed the edit! I spend far too long on it!! You are very welcome, good luck with your ACCA exams!
Please make a series for small business owners where you go deeper into the concepts in these video and show actual examples. Like explaining the tax implications of leasing the building for the majority of its useful life and when it's a good idea to capitalize non tangible assets. Also please make a ratio analysis series.
Thanks for your requests!
Agree
Thanks for this. I swear the textbook my accounting class has employed is actively trying to make this stuff harder to understand than it actually is. You've explained assets more completely and easier to understand in 10 mins than Wiley Plus has in 4 chapters.
I’m preparing for an MBA and as I don’t have financial background, I did find this video really clear and useful! Tnks
Not only am I learning a ton about accounting, but your videos are also just so much fun to watch. Thank you.
Cheers Noah, glad you're enjoying them! All the best :)
Thank you James, I really appreciate you for sharing the knowledge. You explain the difficult concept in the easiest way.
Thank you!
Your videos are absolutely amazing, they're really helping me get through my Accounting unit. I also can't get over how great your skin looks; its glowing!
Thanks Gillian, you are too kind!
Hi James. Im an instant fan. Accounting videos are usually boring. But youre doing it with so much enthusiasm and so engaging. Plus teaching it with so much ease. Im learning a lot and looking forward to more videos. Cheers!
Glad to hear it Bermarie!! Plenty more vids on their way soon
thank you for making those videos! i just started studying and accounting is one of the class i struggle with... you explain it very clear and organized, it's awesome :) also as a non-native speaker I appreciate the subtitles for better understanding so much!
No worries, glad to hear you appreciate the subtitles!
Love it
You're a breath of fresh air. I'll have to rewatch most of your videos to get it down but thanks for sharing your knowledge.
Thanks, that's kind of you to say :) Hope it's sinking in!
Ay carumba, that was awesome! Dense with info, entertaining, energetic, and altogether the best 10 minutes I could have possibly invested. On to Liabilities!
Thanks for your kind words!
nobody goes into defintions as deep as you do and I love the way you explain the whys and the hows! please keep it coming....
Will do! More on the way...
@@AccountingStuff thank youuuu....
My business implementation plan is due on Sunday for the final course of my MBA and this video series has been a lifesaver! Very grateful, thank you!
Hope you're not going to be working too hard over the weekend!
I can say "hand on heart" that this is the best definition of assets!
This is so good! Just started studying Bookkeeping and been trying to wrap my head around all these terms and concepts and I feel like I am finally starting to get it! Thank you!!!
That's great to hear! All the best
These videos are sooooooo amazing in helping me understand. I am a newbie in Business Management and studying the Cycle of Cash. Thank you so much for these!
Total gem dropped in this vid appreciate it
The best teacher of accounting I have ever seen
Glad I discovered this channel. I have studied accounting 20 years ago, but now I'm a developer. It's very interesting to refresh knowledge and learn new things.
Very good presentation! :)
Great to hear you're finding these useful!
Video editing is on point! As always 💪🏻
Cheers Aaron!
James you are amazing you make everything so easy to understand that is the correct way to impart knowledge not talking about one thing for thirty minutes great stuff
Thanks, great to hear you're finding these useful!
Fantastic, concise explanation.. Let them coming.
You're so helpful sir! For me that doesn't have any background on accounting but still pursued this course, your videos are life saver. More powers to you sir!
Thanks Jerald!
Thanks for keeping it simple and taking the time to explain the basics.
No problemo :)
WOW!! You are so good at explaining this.
Thank you for these videos! I just watched several of them, very helpful!!
Wow, what a guy! Thank you for your videos, commitment, and passion. I’m really starting to enjoy my job because of you. Thanks man
Awesome to hear that you're enjoying your job. Best of luck with it all :)
I am new to accounting trying hard to understand much of the basic.. thank for your clarity.
No worries, good luck with your studies!
Thanks for this precious video James , I like your every video you upload.
Man love your channel you are not only providing some basic but important knowledge about accounting but also your content quality is great and really easy to understand. You deserve more Sub.
Cheers Kawsar, great to have you on board!!
I was struggling for my accounting subjects today in college and I don't even get a thing especially now there's a pandemic so self study is a must. Thanks for this I understand my lesson more.
No worries Jarrah, I'm happy to help. It must be tough doing self study at the moment. All the best!
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
Rich dad and the poor Dad
"Don't work for the money,make the money work for you".robert
without you i don't know how i could understand financial accounting, thank you very much!
Best of luck with your studies :)
Thank you! This is so great. Your pronunciation and the way you talk and explain things is quite perfect. My mother tongue is not English but you make things easy and really helpful.
Cheers Ferhat, glad you're finding these helpful. All the best :)
Voice and Vision are running so well! Thanks
Thanks :)
amazing video. I learned exactly what I needed and more !
Oh man you make accounting bearable! Love your videos
very smooth explanation. good job mate
Thanks!
Thank you for this playlist of videos! I've been watching them as my course goes on and it certainly helps! My professor just yells at us during a 5 hour class and makes it very difficult to understand.
No worries Jessica, glad to hear that the vids are helping!
Sounds like your professor hates his/her job. There are some professionals that clearly should never be teachers. All my past acctng classes were of similar confusing subjects with no help from the teachers.
Holy shit, the editing is absolutely amazing, words are very clear and the quality is splendid! This was incredibly easy to understand, thank you! Probably the the only channel on TH-cam which actually teaches accounts fantastically :)
Cheers Ayana, glad you enjoyed it!
Excellent way of presenting information!!!
Hey Juan, cheers!
Wow so thorough and easy to understand
Glad to hear it!
James, You deserve a lot more recognition. I have avoided these terms my whole life, and now's a time that i must know them. I knew it would be hard, until i stumbled unto your channel. Thank you so much ! P.S your video editing is on top, netflix quality.
Thanks bud! Glad you enjoyed it :)
YOU ARE SO FUNNY!!! you make learning about accounting so enjoyable. THANK YOU!!
Thank you so much ! Your video,effort and explanations are awesome !
I never studied financial subjects or terminology back in school and ironicly now Im in University with Foudation Year Accounting and Finance ,all terminology and concept is new to me and after watching your video is one idea easier to me to understand what are actually assets . For these 10 minutes video i get the picture way better than the books which been recommended by mine Univesity tutors.
Definetlly will follow for more videos 🙏🏻💯👏🏻
My professor showed us your content yesterday in class & I LOVED IT! It's easier to understand & funny..at times!😂 And Thank you for sharing your gift with the world!
Thanks, I'm glad you hear you're enjoying these :)
james man I fricken needed this! thanks for your wisdom! I've been in the dark of the financial world for soo long, I'm glad you've got a playlist concerning accounting. Thanks!!
No worries, I hope it's making sense for you!
You have made my life easy. Keep up the good stuff 💪
Great and helpful. learnt a lot keep it up love your videos .
Thank you, I was covering your balance sheet video and was referred here x
Nice, hope you find it helpful!
This absolutely brilliant sir! Thank you.
No problem!
James, you are AMAZING! Seriously. I am studying for my FMLI and 3 of of the books are all about business accounting (which I have NO prior knowledge of!). The struggle is REAL so I actually googled this phrase: explain accounting for asset transaction to me like i'm a child. And your video came up! I, of course, started on the first one but really felt the need to thank you here. You have done in a few videos what weeks of studying these stupid books could not do - actually TEACH me! So {{hugs}} to you and thank you for your AWESOME videos!
Hey Stacy, it's great to hear that accounting is starting to click for you. All the best with your studies!
Great video, easy to follow and I understood everything
Cheers Fernando, glad it's making sense :)
Thank you so much for making accounting easy and fun to learn!!!!
Cheers Yulia, glad you're enjoying these vids :)
Absolutely helpful thank you 🙏 bro
Your videos are so helpful and easy to follow 😊
Cheers Sura, I'm glad you think so!
beautifully explained , good job!
Thank you!
Thank you James, I have learnt a lot from your videos. Much appreciated!
No worries :)
Thanks, very informative video.
I really appreciate you teaching all this for free
No worries, hope you found it useful :)
Awesome channel, assets need certainly be adjusted for pre payments and goodwill from a investors point of view to determine the book value. Thanks a lot for these useful and valuable Vids.
Thank you for your hard work, it's really helpful for me to understand the accounting concepts. Your explanation is amazing. Cheers from Australia.
No worries, I'm happy to help!
I’m starting a ecommerce business , and I’m so confused on how to do accounting and bookkeeping and came across your videos
Hey Jayjay, hope the vids helped. Best of luck with your business!
Thank You Sir!!
You explained all the important things so easily. Want more!! Love From BANGLADESH!
No worries Niloy, plenty more on its way!
Thank you very much. I learned a lot. 😍❤️
These are awesome. Not too long and a dash of humor.
Thanks Rhonda!
I just came across your channel as I am trying to prepare to retake my Financial Accounting. I am intending on going back to school and pursuing a Masters in Professional Accounting, but my undergrad is in Psychology. Sounds crazy I think, but I intend on starting this Spring...I need several prerequisite courses and I will be starting with those. 5 years ago I took Financial Accounting and passed it, but I only took because I thought I needed two minors to graduate......since it's been so long I feel I need to retake. I truly want to be successful soooo in searching for any and all tutorials I came upon you. I love them. I understood a lot. Thank you for your dedication and the amazing grace with which you teach. Just today I spent two hours listening and seeing your videos and taking notes. Thank you sooo much!
Best of luck in your retake! I hope it all works out for you
@@AccountingStuff 🙏🙏😊thank you!!!!!!!
Great breakdown for a newbie trying to hone some bookkeeping know-how. Looking forward to seeing more and more of your awesome content!
Cheers Joel!
@@AccountingStuff Cheers!
Wow - your video is amazing! :D this is some great stuff - please continue making videos because Accounting is also making more sense to me - it’s a miracle !
Will do! I've got more on the way
I really really really appreciate your videos.
Thanks!
The section about goodwill is super interesting.. Thanks!
You're welcome :)
Thank you for posting accounts staffs it's really helping alot of people,😊😊
Glad you're finding these useful!
easy to understand . thanks
Keep doing this! It is a great video.
Great content, thanks!
Excellent videos and I have learned so much. Many thanks.
No worries, that's great to hear
THANK YOU FOR MAKING THESE VIDEOS!!! You have literally saved my butt in my accounting class... !! :D
Hey Lily, it's all good. I'm happy to help!
Just what i was looking for
Thank you!
No worries!
short, simplified and clear to the content. please, make a tutorial/video on group accounts. you make a full week tutorial into a simplified one tutorial. your videos are amazing.
Thanks for your suggestion!
Thanks for the help really appreciate it bro God bless you
Thank you for this clear video and explanation.
No problem Nilay, you're welcome :)
2:21 😂😂 Thank you for making this playlist, it's really helpful and easy to follow!
Best accounting channel out tbh
Glad you think so!
Excellent editing!!
Thanks Randy!!
You are just AWESOME! Thanks for sharing your knowledge with us! :)
Thanks, glad you found it useful!
Your exaggerated hand movements slay me, but these are still some of the best accounting explanations on TH-cam. Subbed.
Hey David, thanks for your feedback and cheers for the sub! Hope you're keeping safe
I am C.S engineer and you have made accounting so easy. Thank you.
You are very welcome :)
Definitely gonna help me for my exams, thank you soo much for creating such videos like these
Hey Jitesh, that's great to hear. Good luck in your exams!
You just changed my life dwq
Keep up the good work
Great to hear you're finding these vids useful :)
This is 100% better than my lecturers
Thank you for the good work
No problem 👍
keep doing this dude :) very useful video and informative ......
Love your videos!
Thanks : ) I'm new to accounts .. Your videos are of very high quality
Thanks!
Thank you so much for making accounting fun!!!!
No worries Olena, you are most welcome!
Very useful! Thank you!
Great! You're welcome