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Fundamentals of Accounting

Overview Lecture
Overview of finsysvlogger
Preview
Overview of Accounting or Bookkeeping
Overview Lecture
Introduction to the Balance Sheet
Balance Sheet Lecture
Family Finance Example
Net Worth or Equity Defined
Balance Sheet Categories
Introduction to the Income Statement
Income Statement Lecture
Measures Activity Over Time
Revenues
Expenses
Net Income--The Bottom Line
Bank Account Analogy
Introduction to the Accounting Cycle
Accounting Cycle Lecture
Accounting Cycle Step 1: Execute Business Events
Accounting Cycle Step 2: Create Journal Entries
Why Debits and Credits?
The Accounting Equation
"In Balance"
Posting to Reporting
Accounting Cycle Step 3: Post to Ledger
Journal Entries to Posting
Accounting Cycle Step 4: Trial Balance
Trial Balance Example
Accounting Cycle Step 5: Create Reports
"Bookend" Balance Sheets
Income Statement for the Period
Closing Entries
Fundamentals of Accounting Summary
Conclusion

The Accounting Equation

Fundamentals of Accounting Introduction to the Accounting Cycle
By: Kip Twitchell
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