Released
12/21/2018Stay tuned for Part 2 of the training series, which covers ratio analysis, forecasting, and business valuation.
- Types of financial assets and liabilities
- Equity
- Balance sheets
- Income statements
- Statements of cash flow
- Bookkeeping
- How business transactions impact accounting
- Debits and credits
- Accrual accounting
- Adjusting journal entries
- Preparing financial statements
Skill Level Beginner
Duration
Views
- Hi, I'm Jim Stice. I'm a professor of accounting at Brigham Young University. This is my brother, Kay. - I'm also a professor of accounting at Brigham Young University. - We've been teaching accounting for a combined total of over 70 years. - In this course, we will introduce you to the key topics in accounting. - [Jim] We'll explore the financial statements, the balance sheet, the income statement, and the statement of cash flows. - [Kay] We will look at some real examples. You are going to see the actual financial reports of Microsoft, Walmart, and others. - We will discuss the interesting difference between net income and cash flow.
Nope, they are not the same thing. - [Kay] You will learn about the famous debits and credits, a system that was described by the German poet, scientist, and philosopher, Johann Wolfgang Von Goethe, as one of the finest inventions of the human mind. - Now, we've designed this accounting course to be self-contained, and we carefully explain any terminology that we use. - In short, this is an introductory course, with no prior accounting knowledge necessary. - You're going to love this. Welcome to accounting.
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Introduction
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1. The Accounting Equation
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The basic equation3m 17s
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2. Assets
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Definition of an asset4m 26s
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Types of assets: Current3m 56s
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Types of assets: Long term4m 37s
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3. Liabilities
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Definition of a liability3m 48s
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Contingent liabilities4m 13s
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4. Owner's Equity
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Definition of equity4m 9s
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Book value vs. net worth3m 33s
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5. Financial Statements: Balance Sheet
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6. Financial Statements: Income Statement
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Income statement4m 55s
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Earnings per share4m 21s
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The Walmart income statement4m 42s
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7. Financial Statements: Statement of Cash Flows
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Cash cows1m 50s
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Statement of cash flows2m 49s
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8. How Financial Statements Are Made
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9. Debits and Credits
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Debits and credits4m 45s
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Journal entries, part 15m 25s
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Journal entries, part 24m 53s
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Journal entries, part 34m 41s
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T-accounts and posting3m 29s
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10. Accrual Accounting
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Net income vs. cash flow5m 9s
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Conclusion
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Next steps1m 34s
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Video: The importance of accounting