My daughter really struggles with accounting. As smart as she is she just cannot understand it. This really helped. Thanks so much. Keep these up. College kids need them!!!!
Much as I wanted to like this video, to someone with no experience or context who wants to learn the core principles, words without context in one's own mind like debit, credit said quickly and repetitively left me somewhat bemused. Subbed though as I think your other vids are probably much better.
Thank you so much this helped a lot just now, HOWEVER it was extremely hard to focus due to the fact that you sound like Harry Styles. Again, Thank you!
I truly admire your efforts, and everything you covered is indeed included in ACCT 101. But your were slightly complex with the examples. I liked it the video and wish to see more of your work.
First person I see with a respectable audience size to reply to virtually every comment. I don't usually subscribe to anybody, but did just because of that. Thanks for the quick refresh, as I'm heading back in the books after a few years off. Good day to all!
I'm so glad I watched this video. It was very interesting, understandable/clear and finally all my worries and stress over what is debit & credit have gone away. Phew. Thank you for making an easy 7 mins video for us accountants (future Accountants) to watch and understand it. 👍
I am major in Horticulture, but suddenly offered an accounting job. This is my very first video I have ever seen and I like it. I think I am going to print out your content and make it into my little cheat sheet😜
Me be like: why am I watching accountancy lessons when I'm just a second year high schooler bruhh I really need to stop overthinking about my future lol 🤣🤣🤣
Got a job interview on accounting department position, i had 0 knowledge about accounting, 0 experience on accounting, even if i learnt it from school before i complete forgot about accounting, but i got the job in doing accounting anyway. Just finished my second day of work, and i still dont know what the hell to do lol.
I didn't really understand the final point of crediting in your video especially with the examples. Can you please explain further or copy and paste a response? I took a basic accounting class years ago and your video was a good refresher video that brought back a lot of knowledge that I thought I forgot. I'll be checking out more of your videos. 👍👍👍👍✌
It may be best to take my free bookkeeping course - this spends more time of debits and credits. You can find the course by checking my video tab or by going to my website www.freebookkeepingaccounting.com
I struggle with accounting principles and math in general. I did, however, understand and grasp the concept of what you had in your video. It's just the tip of the iceberg but a start. Thank you.
My son is learning accounting for the first time and is a bit confused. You started so well except the “owe”, but It would have helped visually if you explained using T format. Towards the end you rushed things too. But a good start tho. Thanks.
25 and I have been in management for a while. I am getting my associates in Accounting and might pursue another degree after. My mom has been in accounting forever and is at the top of the field salary wise. Thanks for video
Assets = Liabilities + Owner’s Equity If you have a loan on the vehicle the transaction is: Debit vehicle 10k Credit liability 10k Depreciation is an expense over time (assuming SL depreciation over 5 yrs with no salvage value) annual depreciation is 2k. Transaction: Depreciation expense 2k Accumulated depreciation (contra asset account) 2k
Eben Peshe 😂😂😂😂😂😂 yea if i was a bad gal/bitch ( that means hoe in Bahamian slag) then i might have graduated with a more satisfying GPA in College 😂😉😉😂😉💯
This video is pretty worthless. It is a rant like if you were standing on a street corner and telling someone how accounting works. Accounting is very simple. It is a data structure. It is useful for the management of a business. It is essential in running a business to be able to adjust things like value of inventory, how much of your accounts receivable are being collected, and so on. The mechanics of accounting are mostly trivial. However, since it is a data structure, there is no limit to the complexity of the structure. We can see numerous examples of this. Collateralized debt obligations are an example of complex accounting. And of course tax law is always a horrible mess. Most of basic accounting is based on logic, whereas tax law is the opposite. The government picks percentages and dollar amounts out of thin air. If I were to practice accounting, it would have to be in an area that was not concerned with tax law, as following tax bulletins for random changes in tax law is not something I would want to have anything to do with. Unfortunately I have not tried out computerized accounting programs. Some of the early ones were horrible, badly programmed. Single entry programs are sort of ok but clumsy in their own way. Having a basic double entry accounting program that would instantly post and balance and allow corrections instantly would make accounting almost labor free. Like paper vs a pocket calculator. Leaving the word own instead of changing it to owe pretty much sums up the quality of this vid.
Can you explain what is really 'have running balances'? I am a Spanish accountant, who is learning British accounting and I don t understand very well this sentences. Thanks you very much beforehand
It is meant to be a quick overview video. I have other videos that cover debits and credits in more details. All are listed on my website www.freebookkeepingaccounting.com
muhammad ali liabilities can look good in many situations. Are you a company that wants to show investors you're looking to expand? Having high liability levels van be good
Imagine his voice, with the face of Brad Pitt and the body of a thirty year-old Arnold Schwarznegger - that describes me perfectly. Thanks for watching.
My daughter really struggles with accounting. As smart as she is she just cannot understand it. This really helped. Thanks so much. Keep these up. College kids need them!!!!
Thank you for your encouraging words and for watching. Much appreciated.
Jenn Mullen
BookkeepingMaster
I'm also in college and struggling in understanding. any tips on how to progress?
Binyamin Ferentz What's wrong with you?
I need to start a youtube channel called "explain it to me like I'm 5"
Lmao mee toooo😢😂
So imagine you have a lemonade stand....
go to reddit r/eli5
😂😂😂😂😂
I have some accounting basic videos on my website. Please have a look. All videos are FREE and no registration is required.
I just started my accounting 1 course and this helped smooth over any of the rough edges that were tripping me up. Thank you!
No problem. Thanks for watching.
Much as I wanted to like this video, to someone with no experience or context who wants to learn the core principles, words without context in one's own mind like debit, credit said quickly and repetitively left me somewhat bemused. Subbed though as I think your other vids are probably much better.
Thank you so much this helped a lot just now, HOWEVER it was extremely hard to focus due to the fact that you sound like Harry Styles. Again, Thank you!
Maybe I am Harry... Thanks for watching.
lmaooo
Lenged has it that Harry Styles is a certified accountant
I truly admire your efforts, and everything you covered is indeed included in ACCT 101. But your were slightly complex with the examples. I liked it the video and wish to see more of your work.
"liabilities are things that you OWE, OWE , OWE..."😂killed me
great video btw, thank you.
Haha! Thanks for watching.
thanks for this lol i was reading own
but I know I hear OWE
BookkeepingMaster: "I'm going to go as quickly as I can"
Me: Sets speed to 1.5x "We'll see about that..."
Haha
Ha. Same.
😂😂😂😂😂
Also you; understands nothing
“Do you wanna see some real speed”
Thank you very mush for this useful video, Big THANKS to you from Morocco
You are welcome! Hi from the UK.
I'm here coming as a year 8 who wants to learn early about accounting and starting a business this is my first time learning and it's pretty easy ❤
Thanks for watching. Good luck!
My job starts in 10 minutes, this video was a life saver
No problem. I hope all went well. Thanks for watching
When Studying accounting
The 4 most popular words that i noticed are
Debit, credit, Balance sheet.
Thanks for watching
your voice lowkey reminds me of harry styles
Thank you (I think)
What If it's Harry teaching us accounts 🙂
I have been struggling from past one week to learn such things, and now Finally you made me understand in one video.!!
Thank you.
Good to hear. I am glad that I could help. Thanks for watching.
First person I see with a respectable audience size to reply to virtually every comment. I don't usually subscribe to anybody, but did just because of that. Thanks for the quick refresh, as I'm heading back in the books after a few years off. Good day to all!
Thanks Oliver. Your support is much appreciated.
Its really good, but you don't have to finish in 5 to 7 minutes. Take your time to explain. It helps. No time restrictions. Thank you so much.
I'm an incoming bookkeeping student and i've been watching a ton of accounting videos. This video is realllllyyy helpful, thank you so much! Subbed.
No problem. Thanks for watching.
I'm so glad I watched this video. It was very interesting, understandable/clear and finally all my worries and stress over what is debit & credit have gone away. Phew. Thank you for making an easy 7 mins video for us accountants (future Accountants) to watch and understand it. 👍
Glad it was helpful! I am so glad! Thanks for watching.
I am major in Horticulture, but suddenly offered an accounting job. This is my very first video I have ever seen and I like it. I think I am going to print out your content and make it into my little cheat sheet😜
Glad that it helps. Thanks for watching.
i =Ihave watched 5 accounting videos to learn this concept and this is the only one that registered for me
Great! Glad I could help. Thanks for taking the time to comment.
The very best video I have ever seen on debits and credits. I finally got it! Thanks!
I am so happy for you! Thanks for watching!
Me be like: why am I watching accountancy lessons when I'm just a second year high schooler bruhh I really need to stop overthinking about my future lol 🤣🤣🤣
Because you're a legend, that's why!
I cannot believe how easy this is to follow & understand. You have made it so much clearer now. Thank you. Do you have anymore accounting videos?
Yes I have - loads of them. Just check out my channel or go to www.freebookkeepingaccounting.com.
I'm going to start studying accounting next year and i believe this is a great first step! Thank you for the video!
Well done for taking the initiative. Thanks for watching.
Thanks for the lesson I understand you more than my teachers
It's my pleasure. Happy to help!
I’m an exchange student and I missed a Commerce class so it is really helpful cheers
From New Zealand
Glad that the video helped. Thanks for watching.
very nicely explained. good job
Thanks a lot! Your comment is appreciated.
I struggle with accounting and I’m an IGCSE student this year, this really helped thank you so much keep these going
Will do! Thanks for watching
Thank a billion man. This is going to go a long way for me!!!
Glad to hear it. Thanks for watching.
thank you, my 1st day on accounting
Great! I wish you all the best with your accounting journey!
I like how precise you were. As well as simplified
I enjoyed the lesson
Glad to hear that! Thanks for watching.
Thank you for sharing your knowledge
So nice of you. Thanks for watching
Thank you sir 👍
Most welcome
Great video. It's certainly very difficult to learn the actual basics of accounting so quickly, but you do a great job. Thanks for sharing.
Thanks for watching
This is all i need, very useful. Thankyou
Great!
I have an MBA. I wish I watched this during accounting class. These examples just helped me understand it all now.
Great! Thanks for watching.
Is it through that accounting is better than business course
Got a job interview on accounting department position, i had 0 knowledge about accounting, 0 experience on accounting, even if i learnt it from school before i complete forgot about accounting, but i got the job in doing accounting anyway. Just finished my second day of work, and i still dont know what the hell to do lol.
Check out all the free accounting content on my website, and my exclusive course. All this will help. Good luck!
I didn't really understand the final point of crediting in your video especially with the examples. Can you please explain further or copy and paste a response? I took a basic accounting class years ago and your video was a good refresher video that brought back a lot of knowledge that I thought I forgot. I'll be checking out more of your videos. 👍👍👍👍✌
It may be best to take my free bookkeeping course - this spends more time of debits and credits. You can find the course by checking my video tab or by going to my website www.freebookkeepingaccounting.com
Thanks
Thank you very much
No problem. Thanks for watching.
Just in words without actually showing the debit/ credit accounts? This will not help users at all
Great help! thanks so much!
Yes liabilities are things you owe
I struggle with accounting principles and math in general. I did, however, understand and grasp the concept of what you had in your video. It's just the tip of the iceberg but a start. Thank you.
No problem. Thanks for watching.
Fantastic amazing job we understand everything I believe it will be much better if you have added the cash flows thank
Thanks for watching, it is much appreciated
I’m studying next year’s exam. So i can say i did something good in this pandemic lol.
Haha
I can see you are really trying, nice
Thanks
Good presentation 👍👌
Thanks a lot
Me informing my friend that he is in debt, "Here we go! You owe the bank ten grand!"
Haha
My son is learning accounting for the first time and is a bit confused. You started so well except the “owe”, but It would have helped visually if you explained using T format. Towards the end you rushed things too. But a good start tho. Thanks.
i need you to sing watermelon sugar now😂 jokes aside, love this video!!❤️
Challenge accepted... Not! Thanks for watching.
Thank you for your efforts to help people in need for this field, like me
It's my pleasure! Thanks for watching
25 and I have been in management for a while. I am getting my associates in Accounting and might pursue another degree after. My mom has been in accounting forever and is at the top of the field salary wise. Thanks for video
No problem. Thanks for watching.
Great video, helped me with the basic details
No problem. Thanks for watching.
Let me go over it again to totally memorize it all! I did it! Now, I'll go over it a third and fourth time!
Fantastic! Thank you so much!
now please make a really long video covering every thing you need to know about accounting and its principles
Thanks for the suggestion. There are other videos and courses on my channel.
Hey, just a quick question. You have listed vehicles as an asset. Due to depreciation, wouldnt that make a vehicle a liability??
Assets = Liabilities + Owner’s Equity
If you have a loan on the vehicle the transaction is:
Debit vehicle 10k
Credit liability 10k
Depreciation is an expense over time (assuming SL depreciation over 5 yrs with no salvage value) annual depreciation is 2k.
Transaction:
Depreciation expense 2k
Accumulated depreciation (contra asset account) 2k
@@TheWeteyezz Thank you ❤
A vehicle is an asset (if owned). Depreciation is an expense. A loan or finance to purchase the vehicle is a liability. Thanks for watching.
You are the best teacher, thank u
Thanks for your kind works and for watching
I love your video, thank you!
Thanks
Wow this is so helpful thank you!
No problem. Please check out my website for more free accounting videos.
5 mins till my accounting exams, think im ready now.
I hope the exams went well!
@@BookkeepingMaster it went great, thanks alot😊
Amazinnnng💖💖
Thanks!
thanks for the video im learning alot
No problemo.
Big Thanx, Alway BKM
Always welcome. Thanks for the comment
Great help thnk you so much
No problem. Thanks for watching.
This is good
Thanks!
I really like this channel! Great content!
I appreciate that! Thanks
Assets-liabilities= owners equity
Debits
Credits
Thanks for watching
keep it up for new creation video update.Thank You
Thanks
This is so helpful!
No problem. Thanks for watching.
make it faster using settings and bam, its 5 minutes.
Can we learn accounting without any financial knowledge???
Yes, try my bookkeeping basics course - www.freebookkeepingaccounting.com
Thank you!
No problem. Thanks for watching.
Very simple and understandable
Thank you for your kind words
Small flex in the intro regarding the time length
I want to do book keeping course.
Is it good Platform for me to get the Exact information....????????
I have lots of bookkeeping courses on my website - www.freebookkeepingaccounting.com. Thanks for watching
i love the sound of your voice. Your accent is lovely.
Thank you. Some people comment and say my voice is too croaky. Your kind words are much appreciated. Thank you so much.
Wellicia Miller im afraid if you listen the voice of lecturers 😂
Eben Peshe 😂😂😂😂😂😂 yea if i was a bad gal/bitch ( that means hoe in Bahamian slag) then i might have graduated with a more satisfying GPA in College 😂😉😉😂😉💯
BookkeepingMaster your welcome😊
Wellicia Miller 😂😂😂
If you have words like OWN where you should have the word OWE, CHANGE IT! You lost me right there.
just listen then, use common sense. This guy is being nice enough to compress all of this content into 7 minutes.
He corrected it at 1:46
This video is pretty worthless. It is a rant like if you were standing on a street corner and telling someone how accounting works. Accounting is very simple. It is a data structure. It is useful for the management of a business. It is essential in running a business to be able to adjust things like value of inventory, how much of your accounts receivable are being collected, and so on. The mechanics of accounting are mostly trivial. However, since it is a data structure, there is no limit to the complexity of the structure. We can see numerous examples of this. Collateralized debt obligations are an example of complex accounting. And of course tax law is always a horrible mess. Most of basic accounting is based on logic, whereas tax law is the opposite. The government picks percentages and dollar amounts out of thin air. If I were to practice accounting, it would have to be in an area that was not concerned with tax law, as following tax bulletins for random changes in tax law is not something I would want to have anything to do with. Unfortunately I have not tried out computerized accounting programs. Some of the early ones were horrible, badly programmed. Single entry programs are sort of ok but clumsy in their own way. Having a basic double entry accounting program that would instantly post and balance and allow corrections instantly would make accounting almost labor free. Like paper vs a pocket calculator. Leaving the word own instead of changing it to owe pretty much sums up the quality of this vid.
He corrected it right when he read it, lol you lost a good video
agree, it is not to get confused but to make it simple. Assets and Liability cannot same.
Can u make a video about the pointers in taking entrance exam in Accountancy,
Sure. Thanks for the suggestion.
Thanks, quick yes and I understand it yes.
Great. Thanks for watching.
liked it. Thanks!
Thanks for the support
Bro u explain better than my teather.Thank you bro♥️
Happy to help! Thanks for watching.
Thank you SO MUCH!!!!!!
No problem. Thanks for watching.
Nice video!
Glad you enjoyed it. Thanks for watching.
Will you teach me accounting on online?
Sure. Check out my website under 'Services' to learn how. Thanks for watching.
Can you explain what is really 'have running balances'? I am a Spanish accountant, who is learning British accounting and I don t understand very well this sentences. Thanks you very much beforehand
Yippie !
Thank you so much
You explained this so much better than my proffesor, now i just need to learn what a T account is
Thanks!
Wish u were my lecturer😭😭😭
Thank you for your kind words.
Waaay to quick when giving examples of credits/debits
It is meant to be a quick overview video. I have other videos that cover debits and credits in more details. All are listed on my website www.freebookkeepingaccounting.com
Can you cover UK taxation, personal, business,vat, inheritance etc...
I would but I don't want to be sued - not a good idea providing tax advice on-line... Thanks for watching.
BookkeepingMaster who would you get sued by?
I'm confused... Liabilities are things you own?
Assets are the things u own. And Liabilities u Owe.
Viktoria Kireeva, Liabilities are U r responsible to pay.Liability equal burden. No one wants a liability.your useless husband/wife is a liability.
he said it was spelling error. meant to say owe
muhammad ali liabilities can look good in many situations. Are you a company that wants to show investors you're looking to expand? Having high liability levels van be good
How can vehicles be an asset?
Because they are tangible, they depreciate and they have significant value. I hope this helps.
You were going so fast I had to watch it over and over but I u understand thank you
Perhaps try my free basic courses, these go at a slower pace. Thanks for watching.
@@BookkeepingMaster I downloaded your accounting game so I have a wide variety of stuff I can understand
You sound like Samwell Tarly from Game of Thrones
Imagine his voice, with the face of Brad Pitt and the body of a thirty year-old Arnold Schwarznegger - that describes me perfectly. Thanks for watching.
You sound like Jazza from Draw with Jazza.
Thanks (I think).
Try Google sheets
Wouldn't a new computer for 1,000 be expensed computer equipment, not debit an asset? I thought you only debit an asset if it's capitalized.
No, an asset is an asset, no matter how it was funded... Thanks for watching.
*sales are CRedits
*expenses are Debits
Thanks for the comment and for watching
Feels like I'm in a auction
Not sure if that's a compliment or a criticism... Thanks for watching.
@@BookkeepingMaster lol it's a joke & no problem