🆓Expanded Accounting Equation Cheat Sheet → https://accountingstuff.com/shop
🖊Income Statement Practice Questions → https://accountingstuff.com/practice-...

In this video I'll share the key to understanding Financial Statements. You'll learn the relationship between the Balance Sheet and the Accounting Equation, and where the Income Statement fits into the big picture of Accounting.

🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whol...  

🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel

⏱️TIMESTAMPS
00:00 - Intro
00:16 - Financial Statements Definition
00:35 - The Accounting Equation
01:16 - The Balance Sheet
02:16 - What is Equity made up of?
02:29 - Capital Contributions Definition
02:47 - Retained Earnings Definition
03:03 - Profit Definition
03:27 - What are Retained Earnings made up of?
03:50 - The Expanded Accounting Equation
05:08 - The Link between the Balance Sheet and the Income Statement
05:57 - Outro

🔎FAQ
▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m

🔝 CLOUD ACCOUNTING SOFTWARE
▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mf...
▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa
▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada

🚶FOLLOW ME ON
▪ Instagram →   / accountingstuff  
▪ TikTok →   / accounting_stuff  
▪ Facebook →   / thisisaccountingstuff  

________________________
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 #financialstatements #accountingstuff