This lesson will teach you 7 Accounting Concepts and Principles that underly all accounting studies and practice. To add relevance, reliability and comparability throughout the behaviour of all accountants globally, accountants follow these 7 accounting concepts in all their activities. This lesson should be the first topic you study in your Introduction to Accounting knowledge journey as it lays the fundamentals for all future accounting study. You will learn about: * The Entity Concept 2:07 * The Accounting Period Concept 5:08 * The Cost Principle 8:02 * The Matching Concept 11:34 * The Profit Recognition Principle 13:49 * The Conservatism Principle 16:50 * The Going Concern Principle 20:15 Each concept is explained both with the theory and an example or two. If you apply all these concepts & principles throughout your activity as a student, bookkeeper or accountant then you will be a successful accounting professional. So whether you are a accounting student, bookkeeper or MBA candidate with a finance subject, you should find value in this lesson. You can also get in touch anytime if you need any further help or clarification beyond the lesson. Just check out the contact details in our YouTube Channel. --------------------- Thumbnail Portrait: Photo by Bruce Mars from Pexels --------------------- This video was brought to you by AccoFina. Subscribe to the Channel: https://goo.gl/84Sfeg Or just check out the Channel Page: https://goo.gl/yTj9Bs Here’s AccoFina’s Most Popular YouTube Video: https://goo.gl/Jbv685 And here’s AccoFina’s Latest YouTube Upload: https://goo.gl/wDM83Y AccoFina Website, Product Pages and Social Networking: 1) Website (includes Free Spreadsheets, Free Books and Free Calculators) http://www.accofina.com 2) Amazon Author Page: http://www.amazon.com/author/axeltracy 3) Udemy Instructor Page https://www.udemy.com/u/axeltracy/ 4) Facebook http://www.facebook.com/accofinaDotCom 5) Twitter http://www.twitter.com/accofina 6) Google+ http://plus.google.com/+accofina
Views: 172614 AccoFina
Principles of Accounting; deifition; identify; record; communicate; organization, interested users; financial statements; stakeholders; internal users; external users; management; human resources; finance; customers; SEC; creditors; labor unions; investors; pay raise; dividend; ethics; financial scandals; Sarbanes-Oxley; balance sheet; income statement; GAAP; FASB; IASB; cost principle; historical cost; purchase price; verifiability; fair value;
Views: 390122 Krassimir Petrov
The ultimate video for new accounting students to learn basic accounting principles and accounting mechanics. This video assumes you know NOTHING and by the end of it, has you reading fortune 500 company financial statements. Learn more and become student at EF University for FREE - http://executivefinance.teachable.com/ Like us Facebook- https://www.facebook.com/exfinance/ Linkedin- https://www.linkedin.com/company/executive-finance Twitter- https://twitter.com/exfinance
Views: 1477146 Executive Finance
To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to provide a basic idea of what GAAP is and why is it required. Hope this proves useful to anyone who watches it. Please let me know your comments on the video and if you like it please hit the like button. Do not forget to subscribe for more such videos in future. Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 82226 The Commerce Tutor
Depreciation (Part1 of 3) Lesson Objectives: (1) What is Depreciation (2) Causes of Depreciation (3) Methods of Depreciation (4) Application of Formulas (Examples) For more information and enquries, please visit www.goodpoatutor.com
Views: 7118 Miss Lau's Principles of Accounts (POA)
https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! This is a great Accounting tutorial for the Basics of Accounting for beginners. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Help Support the channel by using one of my links. The Amazon link is my favorite, it is the same experience and same price for you, and i get a small kickback for purchasing goods from my amazon link. THANK YOU FOR YOUR SUPPORT. Amazon Affiliate Link: https://amzn.to/2MS2OMg CHANNEL OPTIMIZATION https://www.tubebuddy.com/CPASTRENGTH NEED PAYROLL FOR YOUR COMPANY https://gusto.com/r/SAtdL Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics #Accounting #Exercise #CPA #Accounting #Exercise #CPA
Views: 2111436 CPA Strength
Welcome to Accounting for Law Students. This video serves as an introduction to the Accounting Equation. We cover the basic principles of the Accounting Equation and look at the classification of accounts according to the Periodic System.
Views: 36738 SwotSmart
Welcome to Accounting 101: Learn Basic Accounting in 7 Minutes! This video teaches the basics of bookkeeping and accounting. It includes details about debits and credits, assets, liabilities, sales and expenses. Examples are provided and a quick description of the chart of accounts, profit and loss statements and the balance sheet is also included. Create a bookkeeping spreadsheet using Microsoft Excel http://youtu.be/LlWADbkGdac Support this Channel https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=FHGCUQ8GU9VB6 30 Free Day Trial on KashFlow Accounting Software http://www.kashflow.com/?code=AFF2105084 Free Bookkeeping and Accounting Course https://www.youtube.com/watch?v=IhYJbCAcCKE&feature=c4-overview&list=UUgPrg8qyvKaiED9tvdAIfpQ Learn more at www.freebookkeepingaccounting.com
Views: 264624 BookkeepingMaster
This screen recording will introduce T accounts and a method of analyzing the effect of transactions to an account. Work Together Problem 2-1 is also demonstrated.
Views: 10420 MrsDePriestSHS
1. Business Entity Principle This principle assumes that, business and businessman are two separate entities. All transactions are recorded from the point of view of business and not from the point of view of businessman. Businessman is treated as creditor of business. 2. Money measurment Principle Only those transactions are recorded in the books of accounts which can be measured in terms of Money. Non – monetary transactions are not recorded in the books of accounts. Strike, efficiency of management , quality of product, loyal employee., affects the business but cannot be measured in terms of money, that’s why they are not recorded in books of accounts. 3. Accounting Period Principle/Periodicity Principle Life of business is indefinite, so Indefinite life is divided into periodic intervals, each intervals is known as accounting period(normally one year/12 months). At the end of each accounting period an financial statements (P&L A/c and Balance sheet) are prepared to know the profitability and financial position of the business. 4. Cost concept or Historical cost concept All business transaction are recorded at their cost price. All business assets are recorded in books at cost i.e., the price paid to acquire it. Any increase or decrease in the market price is not considered. If nothing is paid to acquire an assets the same will not be recorded as an assets. For example : self generated goodwill, favourable location, managerial skills, moral of employee etc. 5. Matching principle This concept is based on Accounting period concept. In order to determined profit earned or loss suffered by a business duiring an accounting period, revenue of that period should be match with expenses incurred in that period. Matching means association of Revenue with Related expenses. Due to this concept adjustment should be made for like write off, outstanding expenses, prepaid expenses etc. 6. Dual Aspect Principle: Every business transaction has double effect one is debited and other is credited. If transaction is debited, the same should be credited with an equal amount. Assets are always equal to liabilities. Hence, Accounting Equation according to this principle is: Assets = Capital + liabilities 7. Realisation principle or Revenue Recognition Principle Revenue is considered as being earned on the date when goods are sold, wheather money is received or not. For example sales on approval not recorded as revenue until approved by customer. 8. Materiality Only those transactions should be recorded which are material or relevant for the determination of income of the business. All immaterial or unimportant items should not be recorded. For example: purchase of stationary is recorded as an expense even if the stationary purchased is an assets. 9. Conservatism Anticipate no profits but provide for all possible losses. Be ready to protect the possible losses, but don’t predict the profits. For example: provision for bad debts. Provision for depreciation. 10. Going concern concept/continuity concept Business will continue for a long time. There is neither the intention nor the necessity to liquidate the business. Business activities will continue and transactions will be recorded accordingly. 11. consistency one policy is used year by year, do not change the policy. If we change the policy, accounts will not clear the financial statements. If some proved and better method of accounting is made available it can be adopted by business, but not again and again. 12. Full disclosure all material information should be disclosed. It means nothing should be hidden. The concept say, “all information of A/c should show to the public not hide anything.” 13. Timliness Provide all information to the mgmt. in time. Record the information/transaction According to Date & time. If information is not supplied in time it will obstruct the quick decision making.
Views: 108328 PRATHAM SINGH
Chapter 2: Analyzing and Recording Transactions. Source document, journal, ledger, trial balance, accounting process, checks, supplier bills, purchase orders, bank statement, sales ticket, employee earnings record, account, types of accounts, record, general ledger, asset accounts, liability accounts, equity accounts, revenue accounts, expense accounts, cash, account receivable, notes receivable, prepaid accounts, prepaid expenses, supplies, equipment, buildings, land, real estate, notes payable, promissory note, unearned revenue, prepaid revenue, accounts payable, accrued liabilities, owner's capital, owner's withdrawal, revenues, expenses,
Views: 36629 Krassimir Petrov
Here is the video about Introduction to accounting. *What is journal and how to pass journal entries. *What is Ledger and how to post ledger. *What is Trial balance and how to do trial balance in accounting everything in simple manner. Hope this will help you to get the subject knowledge at the end. Thanks and All the best. ▓▓░───CONTRIBUTION ─░▓▓ If you like this video and wish to support this kauserwise channel, please contribute via, * Paytm a/c : 6383617203 * Western Union / MoneyGram [ Name: Kauser, Country: India & Email: [email protected]] [Every contribution is Helpful] Thanks & All the Best!!! ──────────────────── To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research * Statistics Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu For Statistics - https://www.youtube.com/playlist?list=PLabr9RWfBcnoJi5snMQQzDGYmb4ydFpTs
Views: 3281725 Kauser Wise
Welcome to Accounting for Law Students. This video serves as an introduction to the Accounting Equation. We cover the basic principles of the Accounting Equation and look at the classification of accounts according to the Periodic System.
Views: 13089 SwotSmart
#FinancialAccounting #DoubleEntrySystem Explained Modern System of Accounting and its Assumptions. Need and Advantages of Financial Accounting and Accounting Equation i.e. 'Double Entry System' of Accounting. Student can also watch following lectures of Accounting : 1. Bank Reconciliation Statement (BRS) https://www.youtube.com/watch?v=Ms3gFDeS-tE 2. Single Entry System of Accounting (Concept & Procedure) Statement of Profit and Loss : https://www.youtube.com/watch?v=XaQGJVvNNwQ 3. Rectification of Errors ~ Introduction and Concept : https://www.youtube.com/watch?v=gJL-GcupCz4 4. Bills of Exchange : https://www.youtube.com/watch?v=kRowni3g2gw Dwonload Assignments: https://drive.google.com/drive/folders/0BzfDYffb228JNW9WdVJyQlQ2eHc?usp=sharing
Views: 241813 CA. Naresh Aggarwal
Using a home purchase to illustrate assets, liabilities and owner's equity. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/housing/home-equity-tutorial/v/more-on-balance-sheets-and-equity?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: This old and badly drawn tutorial covers a topic essential to anyone planning to not live in the woods -- your personal balance sheet. Since homes are usually the biggest part of these personal balance sheets, we cover that too. About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 731354 Khan Academy
assets, liabilities, owner's equity, cash, supplies, equipment, furniture, creditors, accounts payable, notes payable, ownership, capital, investment, drawing, capital drawing, revenue, expense, fee, commission, interest, interest revenue, interest expense, dividend, royalty, rent, rent revenue, rent expense, salary, wage, taxes, tax expense, transaction, event, activity, dual effect, accounting equation, account, on account, cash withdrawal,
Views: 56944 Krassimir Petrov
This is only a demo class. classes are available for CA/CMA/CS/B.COM( All universities), 11th, 12th. My all classes are available in Download link /Pen drive mode. You can also buy my classes on per chapter basis at conceptonlineclasses.com. for any query, please contact us on 01204225003/4/5 Mail us on [email protected]
Views: 567265 santosh kumar
This video introduces the main accounting principles of GAAP. These principles are usually defined in Into to Financial Accounting, but never explained. I think a good understanding of the principles will help students learn and retain the many accounting rules associated with US GAAP.
Views: 10338 MM
Expected theory question of accounting for 11th class. This are the most asked and expected question which have highest probability to asked in the paper of accounting. Though the theory question carry only 10 to 15 marks but these 10 marks are very important to score a good marks, So this video will provide you the most expected questions of accounting. After watching this video you are able to answer these questions if asked in the paper. The questions covered in this video are : 1. Basic accounting Principles 2. Accounts 3. Accounting 4. Book Keeping 5. Book Keeping Vs Accounting 6. GAAP 7. Accounting Standards 8. Basic Accounting Terms 9. Accounting System etc... I hope this video will help you to understand the theory questions. Thanks JOLLY Coaching accounting principles accounting concept accounting conventions accounting principles in hindi accounting in hindi accounting principles in urdu theory questions for accounting expected theory questions of accounting 11th class accounting for 11th class theory in hindi theory questions in hindi accounting theory question in hindi theory of accounts accounting theory theory of accounitng theory concept of accounting going concern principle matching principle conservatism principle separate legal entity economic entity assumption matching concept dual aspect comparability principle basic principle accrual principle materiality principle full disclosure principle all accounting principle generally accepted accounting principle accounting principle in hindi how to theory questions of accounting accounting standards in hindi what is accounting need of accounting reason for doing accountung objective of accounting users of accounting accounting purpose Theory of accounting in hindi accounting yheory question for 11th class theory question in accounting theory question in accounting in hindi theory question of accounting by jolly theory question of accounting by kauserwise theory question of accounting by kauser wise kauserwise kauser wise jolly coaching jolly theory question of accounting by jolly coaching accounting principles class 11 in hindi separate legal entity in hindi
Views: 84655 JOLLY Coaching
Did you liked this video lecture? Then please check out the complete course related to this lecture, ACCOUNTING BASICS A COMPLETE STUDY with 300+ Lectures, 28+ hours content available at discounted price (only Rs.640)with life time validity and certificate of completion. https://www.udemy.com/fundamentals-of-accounting-a-complete-study/?couponCode=YTBABCS41 ---------------------------------------------------------------------------------------------------------------- Welcome to one of the comprehensive ever course on Accounting Basics. This course starts from “What is Accounting”, “Need for Accounting” to various Practical aspects in Accounting. Enjoy lectures for each and every concept in accounting presented in digital hand written format followed by Solved Case Studies Video. New videos are being added at frequent intervals and this course will be the longest one in Accounting soon. ---------------------------------------------------------------------------------------------------------------- Welcome to Accounting Basics - A Complete Study Course! This is one of the comprehensive course in Fundamentals of Accounting covering theory as well as practice. In this course, you will learn Fundamentals of Accounting, step by step covering the following: Section 1: a) Introduction to Accounting; b) Book Keeping; c) Accounting – Objectives and Process; d) Accounting Cycle; e) Accountancy, Accounting and Book Keeping; f) Users of Accounting Information; g) Branches of Accounting; h) Basic Accounting Terms; i) Basic Assumptions in Accounting; j) Basic Concepts in Accounting; k) Modifying Principles of Accounting; l) Accounting Standards; Section 2: m) Double Entry System in Accounting; n) Accounting Equation; o) Golden Rules of Accounting; Section 3: p) Source Documents; q) Cash Memo; r) Invoice; s) Receipt; t) Debit Note; u) Credit Note; v) Pay in Slip; w) Cheque; x) Vouchers; Section 4: y) Books of Original Entry; z) Journal and Format aa) Steps in Journalising; bb) Journal Illustrations; cc) Compound Journal Entry; Section 5: dd) Ledger; ee) Utility of Ledger; ff) Format of Ledger; gg) Posting; hh) Procedure for Posting; ii) Posting of Compound Journal Entry; jj) Posting the Opening Entry; kk) Balancing an Account; ll) Significance of Balancing; mm) Balancing of Different Accounts; nn) Procedure for Balancing; Section 6 - covering Trial Balance and Final Accounts. This course is structured in self paced learning style. Video lectures are used for delivering the course content. Take this course to create strong foundation in fundamentals of accountancy. • Category: Business What's in the Course? 1. Over 206 lectures and 20 hours of content! 2. Understand need and importance of Accounting 3. Understand Book Keeping, Objectives and Advantages 4. Understand Accounting Process, Accounting Cycle, 5. Understand Users of Accounting Information 6. Understand Branches of Accounting 7. Understand Basic Accounting Terms 8. Understand Accounting Assumptions, Concepts and Principles 9. Understand Rules of Accounting 10. Understand Journal, Ledger, Trial Balance and Final Accounts Preparation Course Requirements: 1. No basic knowledge is required 2. Students can approach this course with fresh mind Who Should Attend? 1. Any one interested in Learning Accountancy 2. Accounting / Finance / Science Students 3. Entrepreneurs
Views: 5793 CARAJACLASSES
To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to explain the Double Entry System of recording transactions in Accounts and how a transaction can be decoded into 2 aspects which are the debit and the credit. LINK TO PART 2 https://youtu.be/9Xf2ecaN33A Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 71315 The Commerce Tutor
Learn basic accounting and its rules from our website: https://www.studykhazana.com/coursedetails/journal-and-ledger---financial-accounting Learn financial accounting of BCom: https://www.studykhazana.com/coursedetails/financial-accounting-bcom-pass-1st-year This is Basically Financial Accounting that you will learn. It includes 7 units. “Introduction of Accounting and Rules for Journal Entries” comes under unit-1. This particular unit further covers three chapters and they are Accounting, and Accounting Process. As per the syllabus, you will learn the following: Financial Accounting: Nature and scope, Limitations of Financial Accounting. (ii) Basic Concepts and Conventions. Accounting Standards: Meaning, Procedure for issue of Accounting Standards in India, Significance, Generally Accepted Accounting Principles (GAAP). (iii) Accounting Process: From recording of transactions to preparation of final accounts. This Full Overview of B. Com. 1 Year (Accounts) available here http://bit.ly/AccIntroBCom (Enroll it For Free) This video is a continuation of B.Com 1st year Accounts overview by Karan Arora where you get the overview of the first chapter. In this video, you will understand the term Accounting, its importance, and need, steps in Accounting. Then you will learn Journal Entries with three golden rules. These three rules will make journal entries really really easy for. These 3 rules include Real Account, Personal Accounts, and Nominal Account. You will learn the steps involved in them. You will get some very practical examples with proper explanation You will also solve questions based on these rules for your better understanding. Karan Arora is a B.Com Graduate and he is a CA final student. He has experience of more than 4 years of teaching and here he has joined hands with study khazana to outreach the education to every corner of the country. To make the chapter easy you will be beginning with the basics and slowly you will move on in such a manner that accounts will become a game to enjoy for you. He has further discussed some miraculous tips. Moreover, Sir will help you cover the entire syllabus with some practice sessions and mock test. You are even given the liberty to ask queries or doubts at [email protected] To Watch More Tutorials & Lectures Visit: https://www.youtube.com/c/StudyKhazana ** Stay Connected with Us ** https://www.facebook.com/studykhazana https://twitter.com/studykhazana Full Course Available on (Study Khazana) login at http://studykhazana.com/ Contact Us : +91 8527697924 Mail Us: [email protected]
Views: 74396 Study Khazana
Thank you friends to support me Plz share subscribe and comment on my channel and Connect me through Instagram:- Chanchalb1996 Gmail:- [email protected] Facebook page :- https://m.facebook.com/Only-for-commerce-student-366734273750227/ Unaccademy download link :- https://unacademy.app.link/bfElTw3WcS Unaccademy profile link :- https://unacademy.com/user/chanchalb1996 Telegram link :- https://t.me/joinchat/AAAAAEu9rP9ahCScbT_mMA
Views: 42724 study with chanchal
Hi Friends. Welcome to our Adda. Complete Telugu Video Tutorials. Ms-office,Tally ERP 9, Accounts,Photoshop, Pagemaker, CorelDRAW, AutoCAD (2D & 3D), C Lang, Basics of Computers, Html, Tips & Tricks, Daily & Weekly QUIZ.
Views: 108352 Computers adda
▓▓▓▓░░░░───CONTRIBUTION ───░░░▓▓▓▓ If you like this video and wish to support this kauserwise channel, please contribute via, * Paytm a/c : 7401428918 * Paypal a/c : www.paypal.me/kauserwisetutorial [Every contribution is helpful] Thanks & All the Best!!! ─────────────────────────── Accounts of partnership - Preparation of Capital Account with Solved problem, in this video we discussed about partnership deed, profit sharing ratio, interest on loan,interest on capital, salary of partner, interest on drawings, what is fluctuating method, fixed capital method, capital account and current account. To watch more tutorials, https://www.youtube.com/c/kauserwise please subscribe.
Views: 360485 Kauser Wise
CA CPT Accounitng Concepts, Conventions and Principles
Views: 49395 ICAC, Rohtak
Accounting Principles & Concepts, Basic Accountancy by CA. Pardeep Jha, for XIth C.B.S.E. I've explained all the Basic Accounting Concepts and Principles of Double entry Book Keeping. Accrual Concept is discussed in detail in a separate video, Here is the link - https://youtu.be/R2kyJLau5_g This video covers - What is - 1. Prudence /Conservatism Concept 2. Money Measurement Concept 3. Full Disclosure 4. Materiality Concept 5. Cost Concept 6. Matching Concept 7. Realization concept 8. Accrual Concept 9. Consistency Concept 10. Entity Concept 11. Dual Aspect Concept 12. Going Concern Concept 13. Periodicity Concept You can Ask your Queries here or on our Facebook Page www.facebook.com/winningquest Prudence /Conservatism Concept Money Measurement Concept Full Disclosure Materiality Concept Cost Concept Matching Concept Realization concept Accrual Concept Consistency Concept Entity Concept Dual Aspect Concept Going Concern Concept Periodicity Concept What is Prudence /Conservatism Concept What is Money Measurement Concept What is Full Disclosure What is Materiality Concept What is Cost Concept What is Matching Concept What is Realization concept What is Accrual Concept What is Consistency Concept What is Entity Concept What is Dual Aspect Concept What is Going Concern Concept What is Periodicity Concept
Views: 6970 Winning Quest
"Install our android app CARAJACLASSES to view lectures direct in your mobile - https://bit.ly/2S1oPM6 " join my Whatsapp Broadcast / Group to receive daily lectures on similar topics through this Whatsapp direct link https://wa.me/917736022001 by simply messaging YOUTUBE LECTURES Did you liked this video lecture? Then please check out the complete course related to this lecture,available at discounted (10% off ) price with life time validity and certificate of completion. Enrollment Link For Students Outside India: https://bit.ly/2Ld4XRQ Enrollment Link For Students From India: https://www.instamojo.com/caraja/basics-of-accounting/?discount=inyboait4 Our website link : https://www.carajaclasses.com Welcome to this course Basics of Accounting (தமிழ்மொழியில்கணக்கியல்அடிப்படைகள்) This course starts from “What is Accounting”, “Need for Accounting” to various Practical aspects in Accounting. It's just a beginning and more lectures will be added in the coming days. Enjoy lectures for each and every concept in accounting presented in casual language (as we speak tamil at home) and excel based presentation followed by Solved Case Studies Video. New videos will be added over next three months. In this course, you will learn Fundamentals of Accounting, step by step covering the following: Section 1: Introduction to Accounting; Section 2: Book Keeping; Section 3: Accounting – Objectives and Process; Section 4: Accountancy, Accounting and Book Keeping; Section 5: Technical Terms in Accounting Another 22 sections will be added in due course. Course description will be updated as when lectures are added. This course is structured in self paced learning style. Video lectures are used for delivering the course content. Take this course to create strong foundation in fundamentals of accountancy.
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For classes Contact : Madhi Academy Chennai -600012 www.madhiacademy.com To Join E-Learning Course or Direct classes contact 7708941960 / 73388 73288 In this Video I explain about Basic accounts in tamil. ca ipcc coaching classes, ca cpt coaching classes For more information & Classes Contact :7708941960 / 73388 73288 - Chennai
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To REGISTER with us, Click here - https://bacaclasses.org/register If you liked the video, please LIKE, COMMENT and SHARE the video. For more videos and updates, do not forget to SUBSCRIBE to our channel! For more details, contact on this number- 9830175050 or Email us at- [email protected] In this lecture, we have covered: i) Introduction ii) Meaning of Accounting a) Procedural aspects of accounting iii) Evolution of Accounting as a Social Science The chapter holds the following: 1. Introduction 2. Meaning of Accounting 3. Evolution of Accounting as a social science 4. Objectives of Accounting 5. Functions of Accounting 6. Book-Keeping a) Objectives of Book-Keeping 7. Distinction between Book-Keeping and Accounting 8. Sub-fields of Accounting 9. Users of Accounting Information 10. Relationship of Accounting with other disciplines 11. Limitations of Accounting 12. Role of Accountant in the society For videos on Accountancy, CLICK HERE: https://www.youtube.com/watch?v=Hrk9EXMbvw4&list=PLJuLVTriTzCrQtXdo8AY08rpj7LZPGB6l For videos on Business Law, CLICK HERE: https://www.youtube.com/watch?v=8Yz4Lr_N7ck&list=PLJuLVTriTzCo3RUhPbR5gHsUWfmwHHguF For videos on BCK, CLICK HERE: https://www.youtube.com/playlist?list=PLJuLVTriTzCqytTP0I4XZiAyZ2mVKEWDB For videos on BCR, CLICK HERE: https://www.youtube.com/playlist?list=PLJuLVTriTzCpc5_i9EWEYefRMceykEgrY For videos on Economics, CLICK HERE: https://www.youtube.com/playlist?list=PLJuLVTriTzCoMNpR7GN_CqN5k4lDZJFVE For videos on Business Mathematics, CLICK HERE: https://www.youtube.com/playlist?list=PLJuLVTriTzCoPUpWPa2widrf8bntDxEQ_ Follow our FACEBOOK and INSTAGRAM PAGE for daily updates: FACEBOOK- https://www.facebook.com/bajrangagarwalcaclasses/ INSTAGRAM-https://instagram.com/bacaclasses?utm_source=ig_profile_share&igshid=hagv6qdav4zq
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INTRODUCTION: Accounting is aptly called the language of business of business. This designation is applied to applied to accounting because it is the method of communicating business information. The basic function of any language is to serve as a means of communication. Accounting duly serves this function. The task of learning accounting is essentially the same as the task of learning a new language. But the acceleration of change in business organization has contributed to increasing the complexitities in this language. Like other languages, it is undergoing continuous change in an attempt to discover better means of communications. To enable the accounting language to convey the same meaning to all people as far as practicable it should be made standard. To make it a standard language certain accounting principles, concepts and standards have been developed over a period of time. EVOLUTION OF ACCOUNTING: Accounting is as old as money itself. it has evolved, as have medicine, law and most other fields of human activity in response to the social and economic needs of society. People in all civilizations have maintained various types of records of business activities. The oldest known are clay tablet records of the payment of wages in Babylonia around 600B.C.Accounting was practiced in India twenty-four centuries ago as is clear from kautilya's book 'Arthahastra' which clearly indicates the existence and need of proper accounting and audit. BOOK KEEPING AND ACCOUNTING: Book keeping is that branch of knowledge which tells us how to keep a record of business transactions. It is considered as an art of recording systematically the various types of transactions that occur in a business concern in the books of accounts. Accounting is a term which refers to a systematic study of the principle and methods of keeping accounts. Accountancy and book keeping are related terms; the former relates to the theoretical study and the latter refers to the practical work. DEFINITION OF ACCOUNTING: Accounting has been defined by the American Accounting Association committee as"... the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information". This may be considered as good definition because of its focus on accounting as an aid to decision making. The American Institute of Certified and Public Accountants Committee on Terminology and defined accounting as "Accounting is the art of recording classifying and summarizing, in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof". SCOPE OF ACCOUNTING: Individuals engaged in such areas of business as finance, production, marketing, personal and general management need not be expert accountants but their effectiveness is no doubt increased if they have a good understanding of accounting principles. Everyone engaged in business activity, from the bottom level employee to the chief executive and owner, comes into contact with accounting. The higher the level of authority and responsibility, the greater is the need for an understanding of accounting concepts and terminology. FUNCTIONS OF ACCOUNTING KEEPING SYSTEMATIC RECORDS: This is the fundamental function of accounting. The transactions of the business are properly recorded, classified and summarized into final financial statements -- Income statement and the Balance sheet. PROTECTING THE BUSINESS PROPERTIES: The second function of accounting is to protect the properties of the business by maintaining proper record of various assets and thus enabling the management to exercise proper control over them. COMMUNICATING THE RESULTS: As accounting has been designated as the language of business, its third function is to communicate financial information in respect of net profits, assets, liabilities, etc., to the interested parties. MEETING LEGAL REQUIREMENTS: The fourth and last function of accounting is to devise such a system as will meet the legal requirements. The provisions of various laws such as the companies Act, Income Tax Act, etc., require the submission of various statements like Income Tax returns, Annual Accounts and so on. Accounting system aims at fulfilling this requirement of law.
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This video is introduction to financial accounting video that covers users of accounting information, accounting principles, accounting equation and GAAP. My website: https://farhatlectures.com/ Facebook page: https://www.facebook.com/accountingle... LinkedIn: https://goo.gl/Pp2ter Twitter: https://twitter.com/farhatlectures Email Contact: [email protected] Debit, credit, assets, assets, liabilities, equity, stockholders’ equity, revenues, expenses, expenses, cost of goods sold, gains, losses, GAAP, SEC, financial accounting, managerial accounting, CPA exam, balance sheet, income statement, general journal, general ledger. ledger
Views: 36772 Farhat's Accounting Lectures
Download notes from here: https://drive.google.com/open?id=0B5k4D24gelFXZlN0d2JuUlBvMWs
Views: 696 Nishant Kumar Classes
Introduction to Cost Accounting - (COST SHEET) Accounting tutorial, Elements of costs, Material cost, Labour cost, other expenses, Direct material cost, indirect material cost, direct labour cost, indirect labour cost, direct other expenses, indirect other expenses. Over heads. Factory over heads, office and administrative over heads, selling and distribution over heads. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu
Views: 716479 Kauser Wise
This Video explains meaning and need of Accounting principles, and name of different Concepts and Conventions in details.
Views: 815 Najeeb Hashmi
This video explains what a budget is (in the context of managerial accounting) and discusses why the budgeting process is useful to organizations. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 97263 Edspira