Tell me why I go to a university and sit through lecture after lecture and get absolutely nothing out of it. Then I look on KZitem, watch a few videos, do a few examples and BAM!!!! I'm a fucking genius? Thank you so much sir. Wish you were my college professor for accounting.
@noname89636
8 жыл бұрын
+Mike E ... This is exactly how I feel. Accounting textbooks take you through so much drama. This is bite sized and to the point. I feel like all his videos taught me more about accounting than the $200 paperweights we have to buy.
@dragnfly138
7 жыл бұрын
Mike E that would be all of us my friend
@ayonsaha7963
6 жыл бұрын
@Mike E, I guess we are all visual learners :)
@rat3390
6 жыл бұрын
I get an a-hole teacher his semester, she rushes over everything and seems we already know everything. I paid tuition fee actually have to learn from KZitem
@nita3996
5 жыл бұрын
THIS!!!!!
@underthesky12345
3 жыл бұрын
It's 2021, and I am lucky to find this videos after 8 years later! Thank you so much!
@adarrashid
2 жыл бұрын
Now 2022 ❤️
@zsherif
Жыл бұрын
@@adarrashid Now 2023 From Egypt ❤
@americaneagle2073
8 ай бұрын
now 2024
@isabelleonorschonemberg3711
7 жыл бұрын
Larry, u r the best! Such a clear and simple explanation without all the mombo jumbo.Thank u!!!!
@noname89636
8 жыл бұрын
This video just explained the meaning to life. Thank you so, so much.
@Lolasurf924
8 жыл бұрын
This professor is exemplary. He points out exactly what is needed to remember and know. I wish all my professors would follow his example. Excellent!!!
@noname89636
8 жыл бұрын
+Lola Surf ... Straight and to the point; no filler.
@tuanhoangnguyen4784
8 жыл бұрын
cant agree more!!!....i wish my lecturer follow his step
@yolandacamargoaponte2658
3 жыл бұрын
You are my favourite accounting teacher... I don't know why teachers at the university don't explain and share their knowledge... and I paid a lot 🤔
@gzielalotibi7500
Жыл бұрын
After 9 years I am watching this video before a week from my final exam , just wanna thank u it was a complex lesson to me but you just explained in a simplest way
@marianwheeler3816
5 жыл бұрын
This part is confirming for me. Need more samples please! Watched most of hour videos and lived it😘
@sharavv676
7 жыл бұрын
Larry .. God of accounting
@SWATPony666
6 жыл бұрын
This guy is a life saver!!! Couldn't learn if from a book but after seeing this it just got so sooooo much easier thanks you!!!
@jhanasandigan2912
5 жыл бұрын
Please don't stop making videos😭 With your videos, you are able to help a student to fulfill the dream of becoming a CPA😍😭
@stevegovea1
2 жыл бұрын
We all got to hunt him and convince him to continue...he helped me tremendously.
@avetiqkhachatryan3513
5 жыл бұрын
The way you explain is amazing. Thank you so much.
@jayavallarasum4369
5 жыл бұрын
Sir iam from India my mother language is tamil. Iam not good at English. Could you please talk slowly and clearly sir. Don't mistake me sir and I have a one request sir that is could you pls teach us how to Adjust costs of goods sold.
@kindalindaable
9 жыл бұрын
All of your Accounting videos...are amazing! Thank you so much mister!
@anatulymaimany
5 жыл бұрын
The first one is less complex .Thank you Professor .
@Teewaree13
5 жыл бұрын
You are an excellent instructor! Just had my first Financial Accounting test, and this was the last problem set, and I tanked it! Luckily I know what I did wrong with your help;It's pretty basic.
@Ramaidrissi
6 жыл бұрын
thank you so much. Im relieved now, that "closing" was an obstacle for me. Now, everything is clear thank you
@lenas1281
Жыл бұрын
THIS IS S OOOOOO GOOD THANK YOU FOR SAVING MY SEMESTER, SIR
@karacnewland93
5 жыл бұрын
BAM 💥. Better than my teacher 😐 lol
@xiaolanzhao4252
8 жыл бұрын
Excellent tutorial!! Thanks for sharing
@jasonangelo6470
9 жыл бұрын
Thank You Sir! You're so much better than my college professor..
@mescudiwes8862
9 жыл бұрын
lmao learning more here than at the university.
@danebraudway5763
5 жыл бұрын
this guy>my actual teacher i payed a lot of money to teach me this
@ondrobaco
3 жыл бұрын
thank you, that was a meaningful and straight forward.
@geeljirehirsi42
2 жыл бұрын
Thank you
@yordashimangus7213
2 жыл бұрын
thank so much
@uniasefi7934
4 жыл бұрын
you are legend Larry
@alicronaldohitman
8 жыл бұрын
u r the best. wish u were my professor. I feel like my professor don't know what she's talking about smh
@muhammedasifkhurshid1156
2 жыл бұрын
Great professor... excellent explanation. After many years finds this videos...clear concepts. Thanks and regard.
@dac1967
5 жыл бұрын
I swear this video cured my acne. Method number 2 is what works best for me currently for my course. Thank you so much!
@yia22sacramento
4 жыл бұрын
That was Awesome. guess I'm weird but I love this stuff. ready start my staff accountant job next week.
@niranjanlama4600
2 жыл бұрын
You are the best professor! Thank you so much sir!!
@hunterhardie3355
7 жыл бұрын
Thank you so much. My teacher is way too scatterbrained to be teaching anything that has numbers or steps involved. He makes it so confusing but you just cleared everything up in no time! Hopefully I do well on this exam tomorrow, it'll be thanks to you lol
@Liquid_market
5 жыл бұрын
Great explanation
@oneatatimemrchow
8 жыл бұрын
this is the best explanation , very clear and easy to understand.Thanks a lot
@surgingtides
Ай бұрын
Thank you for the tutorial. So what I gained from this video: - Revenue, Expense and Dividend accounts are TEMPORARY accounts and we need to close them. To close them we either debit (if it's credit account like Revenue) or credit (if it's debit account like Expenses and Dividends) to net those account into 0. However, since the debit/credit action occurs, we need to credit/debit these amounts in somewhere else - The first way is to debit/credit thoss amount straight into the Retained account (note that this is a PERMANENT account => don't need closing). The final balance will be put into the balance sheet as Retained earning - The 2nd way is to debit/credit the amounts from Revenue and Expense accounts to an account called Income Summary. We then also close the Income Summary account together with the Dividend account and credit/debit the amount to Retained earning account.
@axia2136
5 жыл бұрын
need to know bank reconciliation in simple form. thanks for this easy steps
@aroojmaryam1321
4 ай бұрын
People like me are watching in 2024😂
@yogi_hariyani
2 ай бұрын
where are you from?
@haroldb
4 жыл бұрын
thank you so much king
@stevegovea1
2 жыл бұрын
2022, Accounting Tutor saving us, lol. My understanding of this just grew more. Thank you and I hope all is well with you.
@olivabibian
Ай бұрын
You are an amazing instructor!!! God bless you and thank you for relieving my anxiety on a lot of accounting stuff that you have made so clear and easy to understand. 🙏😊
@Lmustashio
6 жыл бұрын
This video was very helpful. I have my accounting exam today and this was a great way to review closing entries. Thank you so much for this video!
@adarrashid
2 жыл бұрын
Love ❤️😘 it 💛
@breakingvideos8564
2 жыл бұрын
Appreciate your teaching skills . Love from Pakistan .
@laibamalik4713
5 жыл бұрын
This man save my life love uuuuuuuuuuuuuuuuuuuuu😍😍😍😍😍😍😍😍😍😍😍😍😍
@janasad90
Жыл бұрын
God bless you! i was trying to explain to someone and he was unable to understand, finally I sent this link, and he got it now.
@TrexterOg
6 ай бұрын
Thank you 🙏
@ctfun9758
2 жыл бұрын
thanks :)
@stellaliu2689
3 жыл бұрын
this video is great... I can't see why I paid the expensive tuition and learn nothing in lectures
@denisdzhindo2422
3 жыл бұрын
Hi, I apologize in my school they also close "Cost of sales account". May I ask , what is that is this category? Best, Denis
@theaccountingtutor1
3 жыл бұрын
Just another kind of an expense account, even though it doesn’t say the word “expense” in the account name, and it’s typically displayed above gross profit on an income statement.
@ming8238
3 жыл бұрын
Thank you so much
@natashaeisele5994
2 жыл бұрын
Ive spent 6 hrs figuring it out and this makes me happy, I understand this.
@Mikeoxlong902
3 жыл бұрын
This is very helpfull now I have a grasp on what accountants do and how to do it
@dannyhu4078
5 жыл бұрын
God, that you?. You're amazing man
@Lisicin05
7 жыл бұрын
Hands down, best explanation.
@tristenpayne
Жыл бұрын
Thank you so much! Very much appreciated!
@xD7oOoM501
4 жыл бұрын
thanks for the helpful and needed information
@giegahitonmba1531
4 жыл бұрын
It helps me a lot.thanks for this
@ay7836
3 жыл бұрын
the simplest explaination than my lect . u make it look so ez. thumbs up.
@powerfullyhappy5226
5 сағат бұрын
Thank you
@sailani_traveller
7 жыл бұрын
Thank you for the video, here I have a question: You updated dividend on debit side? If you say that cash is coming in so we are debiting the dividend account, If this is answer then why Service Revenue updated on credit side ?. Service revenue is a cash which comes in and it should come at debit side....hope u under stand my question. Could you please answer this...
@kilooneninenine4822
5 жыл бұрын
Revenues increase the right side of the equation because they increase owner's equity.
@kilooneninenine4822
5 жыл бұрын
Service Revenue is not an asset
@ewashku
3 жыл бұрын
Would these closing entries effectively zero out the P&L for the given period? How do you go back to a closed period and see any activity on the P&L if you close it all out to income summary/retained earnings at the end of every period?
@theaccountingtutor1
3 жыл бұрын
The database for the accounting system maintains the earlier records for querying.
@LamTieuMy
Жыл бұрын
its so easy to understand !! thank you so much
@sailani_traveller
7 жыл бұрын
Retained earning credit balance is more than debit balance, so difference amount should be updated on debit side...whereas u have updated on credit side...why ?
@King_Rizzy
4 жыл бұрын
wait did i miss something? at 7:30 why are we debiting Retained Earnings of 9,000 in the journal when just a minute ago we credited that total balance in the t account of Retained earnings?
@esrayildiz1675
4 жыл бұрын
ayy cidden ağzına sağlık canım anladım
@shingj4007
3 жыл бұрын
The hazy cloud has been lifted by this video, thanks Mr. Accounting Tutor.
@lucatintor4896
6 жыл бұрын
You are natural teacher mister, I watched hundreds of videos in KZitem but nobody is even close of you ability to explain clearly the topics. you should teach those people that post accounting videos how to expose topics. GRAZIE MILLE MISTER.
@esrayildiz1675
4 жыл бұрын
hello from turkeyyyyyy çok sağol
@janetanaka4634
3 жыл бұрын
Larry, you mention a book in your videos. Do you teach a class I can take online? I love the way you explain things.
@jiachengliu2877
5 жыл бұрын
Very instructive! The textbook I have only briefly mentioned how and why the process works that way. Thanks a lot!
@LaLaInNOVA
3 ай бұрын
This was so helpful. Thank you so much!
@aangsomji
7 жыл бұрын
Thanks my dude. Very helpful!
@brentcrane4918
10 жыл бұрын
Thanks! very helpful!l clear and concise.
@nessagotdrip
Жыл бұрын
my accounting exam is in one hour
@nellybou8229
4 жыл бұрын
Very clear explanation thanks you .
@eviehammonds6198
2 жыл бұрын
You just helped me pass the first 5 or 6 chapters of POA! Thanks!
@brownpanther7512
2 жыл бұрын
Thanks that was very helpful :)
@dericbryle402
4 жыл бұрын
Sir, I have a question. When will you know which method to use in closing the books. Because based on your first example, you closed the revenue and expenses directly to retained earnings. Shouldn't it be closed to income summary first?? It's still confusing me somehow. Thx!
@ericeandco
4 жыл бұрын
It doesn’t matter which method you use because when you’re done it will all go to retained earnings. If you’re taking account 1 the may tell you to close the accounts to income summary on the test in class.
@dericbryle402
4 жыл бұрын
@@ericeandco thank you sir!
@StephanieTapio
5 ай бұрын
Thanks you so much it really helps
@ayvieaglubacolumbano2504
2 жыл бұрын
Amazing , thank you master 😊
@mounzerhalabi4956
3 жыл бұрын
you are definitely an amazing teacher, Thank you so, so much.
@ayonsaha7963
6 жыл бұрын
so the income summary is basically your net profit and retained earnings is your capital?
@Bacontats
5 жыл бұрын
Shuvhashish Saha it’s like a master profit and loss statement. What’s left remaining goes to retained earnings (owners equity).
@music_ph7783
Жыл бұрын
Salamat Sir. Salute po sa inyo.
@shreddedPaige
10 жыл бұрын
Thank you!
@detroit89k97
7 жыл бұрын
You deserve the like and the subscriped Great explanation Thanks brother
@connorsinclair7727
7 жыл бұрын
You make accounting fun. THANK YOUUU
@lyricveds6238
3 жыл бұрын
Can someone explain y dividend is 2000?
@begenuine4679
Жыл бұрын
First best teacher of accounting I have ever come across. Thanks for helping us.
@sharavv676
7 жыл бұрын
where are you sir... please give lectures to all of the university in the world
@boomafrica4266
3 жыл бұрын
God bless you .you are the best
@jezabelcanales1484
3 жыл бұрын
Thank you so much 😊 God bless you.
@AccountingandFinance
2 жыл бұрын
it is great explanation
@andrewhersabyl6759
7 күн бұрын
BU INDRIII, THIS IS MY HOLY GRAILLL
@enriquebn4853
4 жыл бұрын
Clear as day thank you soo much.
@enriquebn4853
4 жыл бұрын
I love it. You make it very simple. Thank you!
@suldan16
18 күн бұрын
God bless
@simitube2k
9 жыл бұрын
To the point. That is probably a few weeks of school with my old teacher, ha, ha, ha... Thank you
@kellychung637
2 жыл бұрын
THANK YOU SO MUCH! YOU HAVE NO IDEA HOW MUCH I NEEDED THIS! TY!
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