In this video, learn how to identify the components of the balance sheet. The balance sheet needs to balance and having the right components is key.
- A balance sheet is a listing … of a company's valuable resources, its assets, … paired with a list of the sources of financing … to buy those assets. … Those sources of financing are liabilities, borrowed money, … and equity items, which represent money invested by owners. … If we look at the actual balance sheet for Walmart, … you'll see that you already … have a good intuitive understanding … of the items in the balance sheet. … Here is a listing of Walmart's assets … as of January 31, 2019, in the left column … and 2018 in the right column. … Company's typically provide two years … of balance sheet numbers side by side … so that the balance sheet reader … can detect any significant changes. … Cash is the first asset listed. … Cash is $7,722 million or $7.722 billion. … Look at the third item in the list, inventories. … Inventory is the stuff for sale on all of the shelves … in all the Walmart and Sam's Club locations … around the world. … We're not surprised that Walmart has a bunch of inventory …
- Accounting basics
- Reviewing the balance sheet and income statement
- Credits, debits, and journal entries
- Making financial statements
- Issues in financial accounting
- Revenue recognition
- Deferring taxes
- Analyzing financial statements
Skill Level Beginner
Accounting Foundations: Internal Controlswith Kay Stice1h 46m Intermediate
Cost Accounting: Analyzing Product Profitabilitywith Rudolph Rosenberg56m 49s Intermediate
Why financial accounting?1m 13s
1. Accounting Basics
The accounting equation3m 37s
2. The Financial Statement
3. The Mechanics of Accounting
4. Current Issues in Financial Accounting
5. Financial Statement Analysis
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