Happy Holidays! Here are the timestamps... 00:00 - Intro 00:20 - The Accounting Cycle 00:41 - Closing Entries Definition 01:09 - How to Remember Permanent and Temporary Accounts (RED ALE) 02:13 - Permanent Account Definition 02:27 - Temporary Account Definition 02:54 - Opening Trial Balance 03:16 - Example 04:05 - Adjusted Trial Balance 04:49 - Creating Financial Statements 05:46 - How to Post Closing Entries 05:55 - Long Way: Step 1 07:34 - Long Way: Step 2 09:08 - Long Way: Step 3 10:09 - Long Way: Step 4 11:15 - Post Closing Trial Balance 11:39 - Short Way 12:34 - Recap: How to Post Closing Entries 03:37 - Outro
@thechartguys6465
3 жыл бұрын
What-ss-App + ..1.._5_1_7_7_0_1_4_2_9_5
@ruthaura5912
3 жыл бұрын
Please do ...Property, Plants and equipments
@AccountingStuff
3 жыл бұрын
@@ruthaura5912 Thanks for your request!
@somebye3sandiago623
3 жыл бұрын
Thanks alot dude,I have my semesters tmrw!!!(freaking out),can u also pls explain reducing balance method depreciation
@AccountingStuff
3 жыл бұрын
@@somebye3sandiago623 No worries, and best of luck!!! All my depreciation videos are in this playlist... kzitem.info/door/PL5zKSeS09l324hTFoBXWq9T3tUY_LUrn2
@LazarusStirs
2 жыл бұрын
I went through my whole 4 year degree in accounting never really understanding this. My Professors and text book were awful. And here in a single video, less than 14 minutes in length, I not only understand it, but it seems very logical. Seriously, amazing videos. Really appreciated. Thank you!
@gloriagaither8522
Жыл бұрын
Me too :( .. It's all making sense now!!
@brittanylucky3243
Жыл бұрын
@@gloriagaither8522 Same here!!
@Michael-cb5nm
Жыл бұрын
Accounting education is a joke. 15 year CPA here…I learned 95% of what I know on the job. Accounting is an “intellectual trade” best learned by doing. Also, many of these professors never really worked in a CPA firm or even in industry..useless academics mostly.
@xinyizhao1683
Жыл бұрын
The goal of textbooks is to make things complicated.
@bikramjeet7385
Жыл бұрын
@@Michael-cb5nmas an aspiring cpa.. do you like your job rn.. and is it financially good enough
@dreaming1925
3 жыл бұрын
You’re genuinely the reason why I understanding anything this semester, man, you make this a lot less stressful because you explain it in such a simple way. Much appreciated!!!!!! ^^
@AccountingStuff
3 жыл бұрын
Thanks, great to hear it's making sense. All the best :)
@varunalur3988
3 жыл бұрын
The talent required to explain these concepts in such a simple way is outstanding. I saved 3-4 hours of work by watching a 14 minute video of yours. Thanks so much man
@AccountingStuff
3 жыл бұрын
Thanks for your kind words :)
@austinmpandawana5467
3 жыл бұрын
Hi James, I am just writing to say a big thank you for all the videos and tutorials. I had failed my accounts module for my law degree three times but the moment I got your content, it was like a light bulb switched on. Got my results two weeks ago and I passed!!! Thank you man, will refer anyone who ever needs help. God bless you!
@AccountingStuff
3 жыл бұрын
Congrats Austin, that's fantastic news!!!
@josephjoestar5918
3 жыл бұрын
Just wanted to thank you so much for making these videos. I really appreciate the time and effort you put into making them not only informative but entertaining as well. You're hilarious man, absolutely love the content. You're a godsend to accounting majors and other people who want to learn about accountancy.
@AccountingStuff
3 жыл бұрын
Cheers Joseph! Glad you're enjoying these. I'll have to make some more. All the best :)
@colluminati2988
Жыл бұрын
bery bery niceu Joestar-san
@At.home.in.the.catacombs
Жыл бұрын
I seriously cannot state enough my love for this channel. Every video hs helped me along in my accounting class. My professor doesn't respond to questions and her lectures are confusing. The mnemonics in these videos are so good.
@ElsieNekuta
5 ай бұрын
Thank you so much for this video ❤ How I wish you were my lecturer. You’re funny and fun at the same time 😊
@AccountingStuff
5 ай бұрын
Thanks for your feedback :)
@labcdel4384
3 жыл бұрын
Damn I wish you were my professor for intermediate accounting :/
@Jonwisniewski04
5 сағат бұрын
I'm building my own accounting software in Excel (because why not lol) and was lost on how to cleanly transfer income/expense vs asset/liability accounts from month to month. Now I know! Good stuff
@hannahaguilar435
Жыл бұрын
I've made it this far. Thanks to you, I'm not giving up.
@keerthanavk8100
3 жыл бұрын
This guy literally makes time to answer to the questions in the comments, that shows how dedicated he is & his motive is to educate others well. Thanks a lot sir. You are truly a blessing for us, accounts has become easier cuz of u. Love from India 😊✨
@AccountingStuff
3 жыл бұрын
Thanks for your kind words! All the best :)
@youjinha3141
3 жыл бұрын
Love from Korea!
@epicapple00
2 жыл бұрын
You are truly a blessing G. My teacher cannot even come close to teaching me these topics, but with your videos I get it shortly. Thanks man you're a good guy!!!
@SurjitBhangu
Жыл бұрын
Bro in which class u study
@julioson50th21
3 жыл бұрын
James, thank you for showing the long way first. When I train a new employee I always show them the long way first. And, then after a couple of weeks I show the short way. Not understanding the process does not help the employee or the business in the long run. I finally understand closing entries! Kudos to your teaching style!
@AccountingStuff
3 жыл бұрын
No problem! Glad you found it useful :)
@julioson50th21
3 жыл бұрын
@@AccountingStuff Thanks James. Please set up a patron account. I would pay you! I support one other KZitemr "That Chapter" $2.00 a month. Your knowledge, teaching and delivery style are fantastic. -Susan
@AccountingStuff
3 жыл бұрын
@@julioson50th21 Thanks I'll keep that in mind :)
@mohamedgamal9903
2 жыл бұрын
Entertaining & educating at the same time ... you are a genius!
@SushanthBK
4 ай бұрын
Bro this is awesome one.. I missed reading closing entry topic in my whole education. Now understood perfectly.
@AccountingStuff
4 ай бұрын
Great to hear it's making sense :)
@samaribrahim3781
8 ай бұрын
really you deserve the appreciation for your amazing channel.
@AccountingStuff
8 ай бұрын
Thanks, I'm glad you're finding it useful!
@danclarke2924
8 ай бұрын
Great mnemonics, clarity of thought, structure and presentation. You're a credit to accounting.
@AccountingStuff
8 ай бұрын
Thanks for your kind words :)
@KazzadyTV
17 күн бұрын
thank you Sir, I have to watch this video maybe 10 times to understand this
@AccountingStuff
17 күн бұрын
You've got this! Let me know if you have any questions :) Here's a Closing Entries Practice Quiz to test your understanding: kzitem.infonfJyM2UJqEQ
@miskalmozayn6397
3 жыл бұрын
THANK YOU ❤️ YOU ARE SAVING MY LIFE
@zgo5430
Күн бұрын
life SAVER, you are the King of accounting, kisskiss, saving 4 weeks of daunting lectures and incomprehensible textbook, wish i had seen this earlier xx
@AccountingStuff
17 сағат бұрын
Great to hear it's clicking for you :)
@alienorkajdas3308
3 жыл бұрын
Just wanted to thank you for what you do! I've spent 5 hours trying to understand closing entries for my accounting final and I understood everything with you in just 14 minutes!! I just discovered your channel and I'm definitely going to keep watching your videos :)
@AccountingStuff
3 жыл бұрын
Great to hear it's making sense! All the best with your studies :)
@FriggenPaul
3 жыл бұрын
This account is gold. Engaging and easy to follow examples. Accounting is easyto just memorize and dump but this helps me understand whats really happening
@AccountingStuff
3 жыл бұрын
Cheers Paul! Glad you're finding the vids helpful :)
@heathhanz4720
Жыл бұрын
I've been stressing so much in my online accounting classes, feeling like I'm not getting the in-person experience I need to grasp the concepts. Yet, since your videos, I feel I may not only pass, but excel! Can't thank you enough for your brilliance. All hail KZitem!
@AccountingStuff
Жыл бұрын
This is great to hear! I have a feeling you're going to smash it too. Best of luck
@charlottenewman2587
3 жыл бұрын
Just watched about 15 of your videos to help with my test today.. Thank you!!!
@AccountingStuff
3 жыл бұрын
How did it go??
@charlottenewman2587
3 жыл бұрын
@@AccountingStuff quite well thanks to your videos!
@AccountingStuff
3 жыл бұрын
@@charlottenewman2587 Glad to hear it! Fingers crossed you get the marks you were after
@nabizada_adib
Жыл бұрын
Bro you do deserve a subscribe. lots of appreciation.
@christinachampion8678
2 жыл бұрын
Always so comprehensive, Your information is so enjoyable. Loved every minute of the video. You're an excellent instructor. Thanks James! You're a genius. None of my instructors in university were this good.
@HealBILY
Жыл бұрын
Thank you James, these videos are still helping people. Im a new small business owner starting from scratch in bookkeeping. I had no idea where to start and found your videos. I now feel comfortable enough to start learning QuickBooks and launch my business. Thank you 🙏
@suzy5166
Жыл бұрын
Pay your local accounting firm to do it if you don't have the time!
@TheWiscoKid
2 жыл бұрын
reconfirmed everything i learned in class today! thanks again
@krislatasridhar5739
3 жыл бұрын
I have to tell you that, this is probably the best explanation, I have seen and look forward to enroll
@AccountingStuff
3 жыл бұрын
Thanks!!
@mabrother6902
3 жыл бұрын
Great to see you again man!!
@AccountingStuff
3 жыл бұрын
Thanks buddy :)
@omkargowda5764
3 жыл бұрын
@@AccountingStuff what is basic eps and diluted eps??
@omkargowda5764
3 жыл бұрын
Eps :Earnings per share
@davidschuler6741
3 күн бұрын
Thanks man, this really helped me on my excel project for intermediate! It’s been a while since I took financial acct as I was in community college at the time so I was certainly rusty when it came to financial statements in general. This genuinely cleared everything up for me and filled in a super important hole I was missing
@AccountingStuff
3 күн бұрын
No worries David! Hope your project's going well :)
@tootsierolls3468
3 жыл бұрын
Thank God there is a channel like this💙 I'm thinking of going for accounting and I wanna make sure i'm gonna love it and boy I can't wait for college💙
@AccountingStuff
3 жыл бұрын
Great to hear that you're considering accounting! Best of luck with it all
@jesael3626
6 ай бұрын
You explained this WAY BETTER than my professor. I don't understand why the professor is trying to make this so challenging for us.
@AccountingStuff
6 ай бұрын
Thanks! Great to hear it's clicking for you
@rowdyjoshracing6298
7 ай бұрын
Just wanted to say a huge thank you for all your videos, they are a world of help to me!
@AccountingStuff
7 ай бұрын
Thanks, that's great to hear!
@baraaalassi9385
2 жыл бұрын
A BIG THANKS, I couldn't solve my exam without your videos
@omedaubed
Жыл бұрын
It is really useful, simple, and logical, thanks for your efforts and your time,
@AccountingStuff
Жыл бұрын
Cheers buddy!
@Astelch
2 жыл бұрын
Thank you for this video, helped me in my act class.
@AccountingBro
3 жыл бұрын
I run an Accounting youtube channel in Sri Lanka. I try to be like you. I really like your video qulitiy, learning methods. I will buy equipment someday to repair the qulitiy. You are my hero, teacher, brother.🖤
@AccountingStuff
3 жыл бұрын
Great to hear that you're teaching accounting here too. Hope it's going well :)
@SunnySideCandy01
Жыл бұрын
My guy is just a legend we all appreciate you
@patricknicholas3856
3 жыл бұрын
I have always struggled with this but I cannot believe how simple the whole concept now looks ..... Thanks a million times! You've opened my eyes!
@AccountingStuff
3 жыл бұрын
No problem Patrick, glad it's making sense :)
@RUSSIAN7MAFIA
2 жыл бұрын
Deserves more views, thank you ♥️
@resmeta2801
3 жыл бұрын
In love with your lessons, i wish if you were our college lecture, we must became an expert now. Hats off❤️
@marioalbota3009
Жыл бұрын
You are a lifesaver my man
@ahmadvahab968
7 ай бұрын
Not just on this video but all your videos, you are a genius. Everything is explained and done perfectly. You are also fun to watch. Excellent work.
@AccountingStuff
7 ай бұрын
Thanks, I'm glad you're enjoying them :)
@WendyEsparza-cy7in
4 ай бұрын
Thank you for making these videos. Accounting school would be difficult if not for you!!!
@AccountingStuff
4 ай бұрын
No problem at all, I'm happy to help!
@laurapoulet
3 жыл бұрын
Thanks for explaining all this to help me better understand.
@AccountingStuff
3 жыл бұрын
No problem Laura, hope it's making sense :)
@learncommerce8620
3 жыл бұрын
Really. Great. Very short way of explanation
@diygrandma3471
2 жыл бұрын
Thank you so much. I'm going back to work as an accountant after a long break. Your videos are a great refresher.
@dextervideos1469
Жыл бұрын
man you saved our time by a video of just 14 mints yew deserve million subscribers
@AccountingStuff
Жыл бұрын
You're very welcome!
@janellerose5146
Жыл бұрын
You are my saving grace as I pursue my BA in accounting! Thank you for your videos :)
@AccountingStuff
Жыл бұрын
Happy to help!
@uhnono8548
Жыл бұрын
Man thank you sooooo much I went through dozens of videos to get some sort of help. Really helpful!!!
@alinskyjesusballecer4363
3 жыл бұрын
Welcome back! 💗 Our lessons are on the Worksheet Accounting Cycle and I know that this is the last part of the cycle 😅
@alinskyjesusballecer4363
3 жыл бұрын
I learned literally all of what it has on closing entries 😃 This is great!
@AccountingStuff
3 жыл бұрын
Thank you! Great to hear it's making sense. All the best with your studies
@omkargowda5764
3 жыл бұрын
@@AccountingStuff If you didn't mind I would like to ask which video editing software do you use??.And which camera?? 😊
@yoonusahameth4493
3 жыл бұрын
@@omkargowda5764 🤣🤣 goood
@omkargowda5764
3 жыл бұрын
@@yoonusahameth4493 why laughing😅?
@johnankitgomes5442
2 жыл бұрын
Just one word for you brother....... Amazing!!!! keep up the good work.
@arianaricci
3 жыл бұрын
I didn’t make sense this for 10 years, thanks for solve my question I love you !!!
@AccountingStuff
3 жыл бұрын
No problem, happy to help :)
@behindthescene947
3 жыл бұрын
Have found ur channel today and have had a little marathon helps so much. I study international business management at university and there’s so much to take in so it helps with breaking down everything really appreciate it. Almost 200k as well
@AccountingStuff
3 жыл бұрын
Thanks, I'm glad you're finding these useful! All the best with your studies :)
@accountingforbeginners9210
3 жыл бұрын
Although the video is short,i have learnt a lot from it,well done
@Kaijja
2 жыл бұрын
This is a really good example. Very detail and clear.
@marcing7192
3 жыл бұрын
Glad to found your chanel. Description accounting theory don't need to be boring at all. Thanks !
@AccountingStuff
3 жыл бұрын
Cheers Marcin!
@dilhack2682
3 жыл бұрын
Something I've been reviewing in school that may be a good series for you is the different analysis ratios. What they are, why they are used and how to do Liquidity/Activity/Profitability/Coverage...Just an idea. By the time you would do them I won't need them - haha - but it may be worth your while for others. Thanks for the great videos by the way!
@AccountingStuff
3 жыл бұрын
Thanks for your suggestion! I will definitely cover them in the future.
@sapsalingpusacattalkmaykwe1556
3 жыл бұрын
Just took midterm yesterday, I got 51/65. Ty sm. Going to understand it fully so I could have full and easy apprehension
@bcnicholas123
Жыл бұрын
I have a technical accounting interview tomorrow and just thought I'd brush up. Thanks for the help!
@ifeomaifezue4774
Жыл бұрын
You are an awesome teacher. I truly appreciate how practical your teachings are . Thank you
@jehadofficial6698
3 жыл бұрын
Thank you so much Dear Sir. very nice and easy way of understanding all this... love
@mohibqureshi391
3 жыл бұрын
Yesterday was my exam...and i did well......BIG thanks to you!!👌👍
@AccountingStuff
3 жыл бұрын
Congrats Mohib! It must be a relief to be done with it
@mohibqureshi391
3 жыл бұрын
@@AccountingStuff yeah.....phew...
@xmfpwj_enc
10 күн бұрын
thank you so much!!! you teach better than my professor
@AccountingStuff
9 күн бұрын
You're very welcome. Best of luck with your studies :)
@suzy5166
Жыл бұрын
You just saved my life! A chief accountant at work has no clue how to close month end 😅
@RoshanTiruwa-tj2kl
4 ай бұрын
Thank you very much Sir. Your lectures have helped me very much in my accounting knowledge.
@AccountingStuff
4 ай бұрын
No problem at all! Great to hear you're finding these useful :)
@Willishere
Жыл бұрын
fun way to explain accounting!😄
@mohamedsbh9072
3 жыл бұрын
You helped me a lot . Thanks
@AccountingStuff
3 жыл бұрын
No problem, you're very welcome :)
@AnaMarieD-y7b
7 ай бұрын
You are very awesome! Thank you for the refresher and additional knowledge. I always try to ditch the EOY closing entries. Whew! Now I can practice.😊
@AccountingStuff
7 ай бұрын
Hope it made sense!
@alimangan4296
2 жыл бұрын
Ohhhh My God!! This is literally the best lecture I have ever seen in my life. I wish I could give 3M likes at a time! Love from Pakistan🇵🇰🤩
@erfatsiddique7488
3 жыл бұрын
Sir, can I have your explanation on 'How to evaluate the intangible assets, like Goodwill, Trademark, Patent etc.? 101 Explanation on INTANGIBLE ASSETS?
@liuhanzhong895
3 жыл бұрын
absolute a lifesaver, ur amazing
@AccountingStuff
3 жыл бұрын
No problem, glad you found it useful :)
@sokainazouak857
2 жыл бұрын
I love your videos, they're incredibly helpful and easy to follow! You're awesome, thank you so much for your help
@Finance-Thinking
3 жыл бұрын
watched all 46 videos in this playlist and they are so well explained - thank you, James
@AccountingStuff
3 жыл бұрын
Wow! Good effort on watching them all
@Finance-Thinking
3 жыл бұрын
@@AccountingStuff Likewise for making them, I bet that took longer!
@FalloutGirl101
2 жыл бұрын
I just bought your Accounting bundle Notes :) Thank you for explaining everything!
@kalthammahmood2514
3 жыл бұрын
Thanks so much for making those videos it was very simple
@AccountingStuff
3 жыл бұрын
No problem, hope it's all making sense :)
@resmeta2801
3 жыл бұрын
That smoothy and simplified explanation and acting made my Job Hunting easy and cool🤙. Cheers mate❣️
@phuchaonguyenluu986
3 жыл бұрын
This helps a lot! Thank you so muchhhhh
@nataliadeja69
3 жыл бұрын
amazing video!!! I love how charismatic you are, even accounting is fun with you - I can only imagine what a great person you must be in real life!
@AccountingStuff
3 жыл бұрын
Thanks for your kind words!
@seavmenghun2295
Жыл бұрын
Very easy to understand. Really helpful. Thank you ❤
@AccountingStuff
Жыл бұрын
Glad it was helpful!
@mattbendijo5850
3 жыл бұрын
This could not have come at an even more perfect time thank you so much you just made my life so much easier
@AccountingStuff
3 жыл бұрын
No worries! All the best :)
@halfofthespace9985
3 жыл бұрын
I'm finally done with the Accounting Basics Playlist. Thank you very much!
@AccountingStuff
3 жыл бұрын
Congrats!! Hope it helped :)
@jingwxn1110
2 жыл бұрын
Hi, I just want to say your videos on Accounting Basics are so informative and useful for my studies! Recently, just started my degree in accounting, and these videos are so needed for my better understanding. REALLY appreciate your efforts and time spent on them! 💜 If it's possible, can you do a short one on Reversing entries? (I'm a bit confused about this, with adjusting entries)😢
@aishwaryapagey9027
3 жыл бұрын
Awesome job man...please upload frequently...
@AccountingStuff
3 жыл бұрын
Thanks! I try to upload as often as I can. These videos take a long time to put together
@marialondono6581
Жыл бұрын
You are amazing! I am blessed to find you. this video is really helpful.
@suseevilla
2 жыл бұрын
Your videos have helped me so much. Cheers, James!
@alishokrpour6180
2 жыл бұрын
I really appreciate your content. it is truly amazing.
@AccountingStuff
2 жыл бұрын
Happy to hear that!
@raokh.715
19 күн бұрын
what an amazing video, thanks James.
@AccountingStuff
18 күн бұрын
Glad you found it useful!
@shaminisandupama8911
2 жыл бұрын
This video was amazingggggggg. !!!! thank you so muchhhh
@imthemaph
3 жыл бұрын
You're a life saver good sir
@AccountingStuff
3 жыл бұрын
Happy to help :)
@MexicoTijuana741
3 жыл бұрын
Beautifully done!
@AccountingStuff
3 жыл бұрын
Thanks Eddie :)
@juliekeiper6992
3 жыл бұрын
So grateful for this amazing summary and love the RED ALE acronym! Cheers!
@AccountingStuff
3 жыл бұрын
Thanks Julie!!
@davematthewlopez5612
3 жыл бұрын
Very timely videos, mate. We just already started learning Closing entries in class this afternoon.
@AccountingStuff
3 жыл бұрын
Perfect timing!
@michaelcarterjamaica
Жыл бұрын
you make accounting fun. Wow!
@AccountingStuff
Жыл бұрын
Thanks!
@farotz
3 жыл бұрын
Brilliant summary
@AccountingStuff
3 жыл бұрын
Cheers Paolo!
@airshadtravel8978
3 жыл бұрын
Man, you are the best. Elite stuff
@AccountingStuff
3 жыл бұрын
Thanks!
@mengcepu
2 жыл бұрын
Wow... your explanation is amazing. You make it so much simpler.. just wow.. thank you so much! Please keep on uploading :D
Пікірлер: 572