Accounting Decoded

This video explains the general structure of an income statement (or profit and loss statement). Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

This video talks through an overview of Revenue. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

This video goes into detail about the Cost of Goods Sold line on the income statement. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

This video explains the difference between Cost of Goods Sold and the Selling and General Administrative Expenses of a company. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

You will learn the basic format of a balance sheet. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

Cash is an important asset and usually has a high transaction volume. It is important to know how cash is generated and used within an organization. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

This video explains inventory as well as how inventory and revenue transactions go hand in hand. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

Accounts Receivable is the promise of your customers to pay you and staying on top of this account is crucial to your success. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

This video explains why you might prepay expenses and how to handle that on your books. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

How you handle your assets of your business requires understnading of the acquisition of those assets and how to depreciate the assets over time. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

Accounts Payable represents what you owe to your suppliers/creditors. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

If you offer gift certificates for your services or products, this video teaches you how the accounting needs to be handled. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

Over time, the goal is for your for profit business to earn a net profit, consistently. All of your net profits/losses eventually move to the balance sheet as retained earnings at the end of an accounting period. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

Companies that are publicly traded issue common stock. If you are a small business, you will not be transacting common stock. However, this is a way that a publicly traded company can generate cash for the business. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"

How do the journal entries get ot the trial balance? We will use a visual tool, called a T-Account, to show how this works!

Learn how to take trial balance information and create an income statement

Learn how to prepare closing entries, create an adjusted trial balance, and create the balance sheet

Learn to create a Retained Earnings Statement and a Changes in Equity Report

Learn how to create a cash flow statement

This video shows you how you can keep an eye on your accountant and to make sure that you are using the logic of debits and credits to find possible issues in your business. Included is the PowerPoint in the downloadable resources, if you want to print it for notes. It is password protected and you will have to click open as "read-only"