The basic accounting equation
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makeiteasyable 2 months ago
nice! thanks sa video!
adelle0001 3 months ago
looks and sounds very simple but a little explaination on the spreadsheet would be nice, im new to this. thanks anyway
sawsosis 3 years ago
soo simple
northde7bashy2 3 years ago
i took accounting in high school NY. not in college it's in high school, the accouting courses in high is part of requirement
northde7bashy2 3 years ago
I have Accounting courses at university... Phew, not so easy for me. Most of it is logical, but I get confused with provisions for bad debts and all that stuff. I guess I just have to study more.
HedgeFund89 3 years ago
Hi Mike, that isn't very clear but the double entry is:
DR Office Supplies $2000 (Asset)
CR Trade Payables/Creditors $2000 (Liability).
In practice those office supplies would be expensed.
Hope that helps anyway best of luck
kidoseven 3 years ago
i dont understand what happened to the two thousand dollars that was paid on account, what did i miss, btw i am hoping to be an accountant, i have to start school for it, i know i have a long long road to be "certified" for it i hope someone can explain that too me
-Mike :)
mhutchinson27 3 years ago
With English skills like this I hope it doesn't transfer onto the notes of financial statements. Also, a Chartered Accountant is a professional designation which requires competency. If you don't have that competency than your university failed you. I hope I can help you out anyway I can to fill in the gaps.
LiftedX 3 years ago
Accounting just doesn't involve math. Every transaction has its own Standards of Financial Reporting Summaries that lay-out lengthy rules and guidelines to account for a transaction. Accounting textbooks as a result have more text and memorization than a standard history textbook. For example, a capital lease requires many tests: its useful life versus lease term, the present value of future cash flows must be 90% of fair value of leased asset, etc.
LiftedX 3 years ago