Accounting Basics 6-Expanded Accounting Equation

[BIGBobJohn23]

plz post more videos :] :}

[misssce11]

I LOVE YOUUUUUUUUUUUUUUUUU @3:25 - @4:58 SAVED MY LIFE. I was so confused with all of this before.. it's all starting to make sense. *tear *tear :)

[universityofbarista]

you r amazing madam plz keep uploading,we all pray for you

[salmanje]

Thank You, you are the best.

[Annette941]

Susan! I love ya! You're such a great teacher. You explain everything so well and make it so simple to understand! I've taken an Introduction to Accounting class and Accounting 1A but you are better. Thank you, thank you, thank you so much for your free videos. You are helping me so much! I just love your patient teaching style!

[rubenjoshuaespezua]

susan you Rock!!!



[adelle0001]

thanks for explaining so clearly!

[kiwiinni]

hi from ireland ! just started finance module at tech ,Thank you for all your help .

helps me understand,i am from a zero maths finance background,therefore a gain thankyou ...morris

[Devon0130]

you may consider conducting public workshops and seminar. This would be a business financial plus for you and your family. Excellent Presentation

[jamanlama]

oh so ur teaching is very very good

[spirituelconnexion]

thank you :)

[FishAlaska69]

Excellent presentations!

Steven Moore, CMA

[chitterman1987]

Shes an awesome teacher and super cute

[Santamariacastro]

thank you, thank you , thank you .

You contribute to student`s success worldwide!

[dream012345]

its same as the A.L.I.C.E rule right? just different name

[craziecat]

You are amazing! god bless people like you.

[SyntheticParanoia]

Marker ------> EXPENSE.... got it :D



[MrVatera]

WOW!! I AM SPEECHLESS!! Thank you ..Thank you..Thank you..

[zhelle0990]

uhmm. just wanna ask.. I know it's kinda off-topic.. it's actually about the Assets.. If the supplies under Assets are those supplies use inside the business and are NOT yet used.. then what is its difference from UNUSED SUPPLIES?

dunno if this topic is discussed in other vids. It's just that I'm using your vids as a review.. 'cause I almost failed in my accounting. HAHA :3.. and i'm pretty sure there's an account for SUPPLIES.. and another account for UNUSED supplies..

[JBersheim]

@zhelle0990 If the supplies are unused, then they are assets. Once the supplies are used, then they become expenses.

[NEFTALI1984]

what is the difference between liabilities and expenses.

Doesn't all liabilities become an expense at some point anyway. Liabilities and expenses come out of the same account..

sorry I'm confused.

[JerridPayne]

Great

[Jamil1358]

You are a fantastic teacher Susan. You helped me a lot.

[Jamil1358]

You are a fantastic teacher Susan! You helped me a lot. I was completely lost in the class... thank you so much.

[MrsAlinaRO]

These videos are great, they really make me understand accounting principles and help me on the job! thanks a lot!

[MrPardeep91]

good work ....keep it up

[007021469]

You Are Awesome.

[roo7allah]

Excellent

[orlytugob]

this is the first time i am writing a comment on a video. after watching susan i once again fell in love with my old accounting.

thank you susan.....

[zhenminliu]

Susan: Lesson 6, and I am still here. You know this is the best lesson so far--it has cleared up a nagging doubt I've had for many years: the relationship between the balance sheet and the income statement. You are one of a kind teacher! A great communicator. Thanks again. Zhenmin

[sameerkr9]

This is amazing.. such good teachers are also there with us. I would request all good teachers to make videos of their lectures and post them on Youtube. This is the best form of SOCIAL SERVICE they will do.

After seeing 5 videos of Susan, i stopped midway while seeing the sixth one and 'am writing this comment. Great work Susan, Keep up the GOOD WORK !!!

[zienzien79]

wow!! this is so simple explanation and i understand it so well :) so nice!

[monthtrial]

She makes learning this stuff less intimidating... Thanks!!!

[theboombody]

This is helping me out here.  Thanks.

[80amnesia]

thanks love your tutorials :-)

[A23Angelo]

Great...keep teaching in youtube ur awsome...ur even better then my tuturing program which the only thing their good for is getting ppl more confused..THANK YOU SOOO MC

[marathonjimmy]

because in accounting you need to show every details of the business, the more the details the better understanding of the accounts i.e, revenue, expenses, liabilities etc. its also easier for the tax man to understand.. or else he he will bite :)

[hackingtime88]

how come some companies with a steady income in some industries can function with a negative income statement?

[mathewharris123]

@hackingtime88  Because they will probably have a lot of liabilities to be paid off.

[amarcosdurock2009]

This video will be a great complement to my English classes. Thank you.

[jeetenism]

Thank you much...!!! It really has helped me. Great tutorial VDO posted by some one ever...!!!

[wehaveaproblemhere]

Nice!

[108StarsofDestiny]

ang galing mo magturo! sana ikaw nalang professor ko... grabe ung prof ko sa accounting wzlang kwenta magturo basta na discuss niya tapos! walang tanong tanong...

[bendeal19]

how does this video have so many views??content might be good but video quality is so bad it literally painful to listen to

[TheGlassmate]

thx a lot

[lexuscva]

awesome ! thank you so much, very easy to understand

[beeshyak]

Thank you! It's crystal clear now.

[partidas14]

do you have A worksheet tutorial?

[lthp]

exceptional tutor performance

[Rotan1987]

two accounts affected, Debit and Credit.....jst like susan explain prepaid exp, as the rent on the date is been used its becomes now an expense which is Credit......im not really sure is this Double Entry System???......

[Uaxis]

Let me see if I understand your question:

So you got debit and credit, right?

Credit is essentially what you'll promise to pay and Debit is what you already have available to pay.

So you're saying that you prepaid an expense - like rent to your landlord before the due date issued by them. And then he gives a bill that says 'expense'.

I don't think it has anything to do with credit, unless you're promising to pay them later and that they feel confident you can pay them..

[jsonseele]

ayos to ah! astig!!

[Danial9Ronaldo]

Thank you Susan!

[Diyah]

Last minute revision for exam tomorrow and im feeling happy about accounting thanx susan :)

[zalchar]

Thank You Susan!

Ext. LSE Student

[jongo82]

Susan, you are such a brilliant teacher. In my actual class, I could only get this 70% but with you, I get it perfectly 100%. Thank you

[pintobeans77]

She makes Accounting FUN! I used to think Accounting was more like...hell...

[SammieLeeCom]

This is Awesome.... I am during my MBA at UniSA, this information is very useful...

from down under:

Adelaide South Australia.

[suvendurinku]

Thanks you so much for the imense help.You are simply great Susan

[zipreality]

Thank YOu Susan You are The best

I'm already Preparing for this class That I'll take this fall.

Keep up The Good Work

[spideybeauty]

Clear and interesting!

[clof2001]

God thank you for explaining the difference between balance sheet and income statement. So simple but my teacher couldn't explain it. Thank you so much

[monicapina111]

really helpful,thanks a lot angel

[srahimi000000]

Thanks so much for the videos this is great. I have a accounting mid term tmrw and this has helped out so much!

thanks once again ur a great teacher

[mwah016]

this is sooo helpful. u should use a whiteboard though

[valdez57]

can u recommend me a book where i can learn the basics o accounting?...

very helpul videosss !!!!!

[iloveuchunkhu]

hello madam,

revenue and income are same isn't it?

thanks

[Jonnymont]

hey close but there is a slight difference revenue is ONLY inflows that are business related whereas income wil be ALL kinds

income = revenue + all other gains

revenue = inflows from ordinary business activities

[zipreality]

Revenue is what the business eraned at the end of the year or a period of sale.

Revenue= Price you are selling your product X Quantity

R= P X Q

While The income is the money you earned as owner or stockholder....

Income is like Profit Which is equal to

Income= Revenue- Expenses

Hope This helps

[Uaxis]

When running a company, determining liabilities is probably the most difficult thing (no idea who's job that is... I guess it varies).

Second is existing assets, or shareholder stock value/whatever, which could either be determined by a computer program that records every input or an inventory device (for the latter, say if you're running a small business).

[chalchitra123]

thank you so much.

[ngotaungoxe]

Excellent! I never thought I could find something that useful! Thanks Susan

[hasansyedali]

You are very good in ur profession !

[novellasuzy]

never diss the mighty susan. she's saved me from death this semester.

[supermario1006]

You are sooo great.....

[Maquiavelo2099]

This is great, I wish my teacher would see these videos

[majongz]

you shut up justjustinme we are talking about "EXPANDED ACCOUNTING EQUATION" we are not talking abou net income equation so its right .........you must know well what is talked about ok.....You are right about ur equation......but we are talking about EAEquation......

[justjustinme]

Revenue - Expense = Net Income?

False, it only equals net income if revenue is greater than expense. If expense is higher (which is not good), then it's a Net Loss.

[DrouTOP]

that is the intire purpose of a corporation...to generate revenue...it is SUPOSED to be true, what idiot runs a company who's expense is greater than their revenue. maybe you.

[justjustinme]

Wow, accountants are jerk-o's.

Of course no business tries to lose money! But some fail! I'm not an idiot.

[DrouTOP]

lol! no we're not. But you gotta be that way when you dealing with other peoples money. They spend & spend & expect us to make "cents" of why they're going broke. thats a little money joke. Technically what you said is true, but if the coporation fails, it has alot to do with accounting errors...but im sure you already know this...1luv.

[justjustinme]

are u an accountant?

[DrouTOP]

Nope, Im a marketing major. But this is a select course for this major.

[smedheat]

expenses make sense now

[esavaina]

You are great, I just started taking accounting and all this videos helped me a lot. Thanks.Good Job

[daisyhong]

it helps a lot, thanks

[johnnyzutrecht]

I wish you were my accounting teacher. Thanks a lot!

[ixnayonda]

you go girl