https://www.youtube .com/watch?v=YjkRSlTxsZM

accounting 101, accounting overview, basics, and best practices. learn about external financial statements, internal managerial accounting reports, income tax systems and how they interact in business decision-making. complete all-in-one business foundations guide | teach yourself business, marketing, accounting, and finance foundations (FAST) for just $25 | download a free preview sample, or get your full copy now! | https://bit.ly/complete-all-in-one-business-foundations-guide in this course, we review the accounting equation, the three primary financial statements, how to use accounting basics to aid decision making, and how income taxes figure into business and personal decisions. this video tutorial, online course, and online class includes: what is accounting? working with balance sheets and income statements, determining the costs of products, performing a break-even analysis, determining average and marginal tax rates, and understanding tax deductions and credits.

19 Replies to “accounting 101, accounting overview, basics, and best practices”

  1. Good video!. The one thing i know is just not true in this video is that you said at 10:45, “Do you have any assets a HOUSE or…”. A house is not a asset.

    1. a house, like any other object that comes into your possession, is classified as an asset. an asset is something you own. a house has a value. whether you assign the value as the price at which you purchased the house or the price at which you believe you can sell the house, that amount is how much your house is worth.

    2. @selfLearn-en Does your house make cashflow for you?, No because you live in it. A asset is something that generates cashflow, like I if I buy a property and then rent it out it’s an asset, if I buy a property and start living in it, it does not generate cashflow, and because of that a house is not an asset it is a liability. When you sell your house you will get money indeed, but first you pay capital gains over it, and you can’t just buy an investment property from it because you have to live somewhere to. Read Rich Dad Poor Dad, you will get it then.

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