Accounting Equation - Ch. 1 Video 1

[mattfisher64]

Revenue minus expeneses is net income. Think of it as your business. Equity is the owner's claim. Net income would be your claim to the business. It is your net income since it is your business. It's kind of confusing but the net income belongs to the owners.

[sealyuh]

if equity is the owner's claim, what does revenue and expense have to do with that?

[sealyuh]

@sealyuh Revenue - Expenses = operating income. operating income - other losses and income tax = net income. where does net income go in this equation?

[sealyuh]

most other videos that tried to explain the same concept didn't teach with an example NEARLY as well as you did- thank you!

[DaniColorado1]

pizza sounds good... mmm

[typeslowly4billion]

I echo the sentiments of everybody else who commented here. You truly are a gifted communicator. At the very end of this video, you briefly alluded to studying along in a book. I assume it is a textbook that corresponds with your teachings? If so, can you provide the title and author?

[YTms06278]

Very well done, clear explanation. Thank you for making this available free. You are an excellent teacher and I look forward to the rest of your videos.

[alagrillet]

Thanks for this, I might actually have a chance to pass my accounting class. the professor I got is a horrible teacher that wants us to teach ourselves from the book, which i didn't even bought because it was so expensive

[SambitaDeOro]

Amazing teacher! you been of great help!, way more detailed then my college teacher. Thank you so much for your lovely videos! :)

[harleenas]

Mr. Fisher, I'm one of those students who cannot afford to take a regular class since i work, therefore i THANK YOU A TON for the excellent work you'hv done through these video's. You are an excellent teacher and a good human being. thanks a lot.

[ArresAmir1]

thank you very much , its a perfect video

that help me sooooooo muchhh :)))

[makeiteasyable]

ty

[StJamesDesign]

Thank you Mr. Fisher for making Accounting so much easier. Many times the textbooks use way to many flowers to explain what you make so simple. Many times all we need is just the meat. Thanks again for taking the time to share your knowledge. Can't tell you how much I appreciate it. James

[StRaWbeRrYsasha]

i love your teaching! it is soo good i wish u were my understanding company accounts and finance lecturer, then i would be miles better of ! :-) thanks

[JENNGOODL]

if I am paid for a house I painted $850 I put 850$ in cash and do i Put it under rev or capital for single entry mode help

[ciglon]

@JENNGOODL it is filed under revenue, seeing as the business earned that money from performing a service. For a service industry like house painting, customers contribute to revenue, and the owner contributes to capital (unless the owner is getting his house painted for that money, which would file under revenue).

[w0mblemania]

Thank you for these videos.

However, I still have problems with the fundamental equation.

If the business takes out a car loan for $10000, it has a car worth $10000. So it has assets worth $10000. And it has a liability of $10000. All good so far.

BUT! The business also must pay interest on that loan. So the liability is actually higher than the asset. How is this represented in the equation?

Thank you.

[123userthatsme]

@w0mblemania I'd like to know the answer to this too. How DO loans or mortgages affect the accounting equation

[broadcastvideolycos]

you are really an excellent teacher. thank you for this video series about accounting.

[briannamcleod]

this guy is right now I didnt understand accounting either so my last resort was youtubing it and i subscribed to this guy I wish he was my professor definately knows what he's talking about

[DaniaOMGWania]

Awesome!! straight to the point and gimmicks :D

[thepsgamer68]

Great instructor, Thanks-A-Million



[DeDom]

hell yea, just helped me out big time with my homework.. thanks!

[marisolmantei]

Thank you, thank you, thank you. You are just wonderful explaining this subjet. Now I can undertand better. God bless you.

[MrChhow]

omg!! a/cs is soo confusing!!! why did it have to be in english???

[anna32010]

U are a stupendous teacher!!!! Thank you!!!! I had 3 teachers and i didnt get it untill today when i saw your video!!!!so clear and simple, just an amasing explanation!!!!!!

[HeyBagMeToo]

...makes sense now. thanks.

[MrNishimuraya]

OMG THX!! I SHOULD GET A SUPER DISTINCTION FOR MY ACCOUNT AFTER LISTENING TO THESE VIDEO..!! THX A LOT!!

[qumarulhasan]

YOUR EXPLANATION IS VERY EXCELLENT & WORTHY, NON-COMMERCE STUDNENT CAN ALSO UNDERSTAND ACCOUNTING, YOU ARE..... YOU ARE.... YOU ARE..... MOST MOST MOST EXCELLENT TEACHER .... THANKS

[rizkajones]

Thank you so much ! You are an excellent teacher.

[vedantkrishnatrey]

Thank You soooooo much! You are an awesome teacher! 

[gram0120]

tnx. i need this

[nawelbouhai]

thanks for this video



[WillyWilly1944]

You are an exelent teacher. I did not understand accounting until I saw your video classes.

Books does not explain as easy as you do.

Thank you very much for explaining it for free.

[BonBon0809]

thank you very much!!!

[bktitans927]

This video was featured in one of my classes. Excellent explanation.