AccountingAcademy

#Shorts: In this video we go over what is the cash flow statement. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy Music from Uppbeat (free for Creators!): https://uppbeat.io/t/prigida/prism License code: LVPM1QWDUQOZWQGV

#Shorts: In this video we go over what is the income statement. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy Music from Uppbeat (free for Creators!): https://uppbeat.io/t/prigida/prism License code: LVPM1QWDUQOZWQGV

#Shorts: In this video we go over what is the balance sheet. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy Music from Uppbeat (free for Creators!): https://uppbeat.io/t/prigida/prism License code: LVPM1QWDUQOZWQGV

#Shorts: In this video we go over what are the financial statements. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy Music from Uppbeat (free for Creators!): https://uppbeat.io/t/prigida/prism License code: LVPM1QWDUQOZWQGV

#Shorts on ASC 805 A business defined. There are inputs, a process, and outputs. If you have at least the first 2 you have a business. Watch the full episode here: https://www.youtube.com/watch?v=6GcJVM09GkU Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy

#Shorts on ASC 805 Substantially All Screener. The screener can help turn a business combination into an asset acquisition if substantially all value is in one asset. Watch the full episode here: https://www.youtube.com/watch?v=6GcJVM09GkU Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy

#Shorts on Units of Production Depreciation example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1 Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy

#Shorts on Double Declining Balance Depreciation example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1 Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy

#Shorts on Sum of Years Depreciation Method example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1 Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy

#Shorts on Straight Line Depreciation example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1 Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy

In today's adventure the kids are at their first month close and have some questions on depreciation. We dive into the topic with helpful examples to explain everything from what depreciation is to how to calculate it. There are 4 common depreciation methods in accounting. There are more, but these are the 4 most common taught in school. We go through each one. Those methods are: - Straight Line - Sum of Years - Double Declining - Units of Production If you have questions leave it in the comment section. I or the community can help out with all your basic accounting questions. Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy 0:00 Depreciation Intro 0:50 Depreciation Explained 1:41 Salvage Value 2:05 Useful Life Determination 2:35 Straight Line Dep. 3:16 Sum of Years Dep. 4:13 Double Declining Dep. 5:05 Units of Production Dep. 6:00 Journal Entries

In this video we face off between what is a business combination versus a asset acquisition. This can be a tricky first step after acquiring assets and can determine a lot of downstream accounting and valuation work. In this episode we start with the basics of what defines a business in the accounting literature with ASC 805. These are your inputs, process, and outputs. We also go over a very useful screener that may cause the purchase of a business to not be deemed a business combination. This screener is the substantially all screener. Lastly, we perform an example with Laine's acquisition to walk through how to record the entries for an asset acquisition. Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy Attribution: Background of thumbnail- a href='https://www.freepik.com/vectors/background'Background vector created by starline - www.freepik.com/a

This episode breaks down the accounting as well as other considerations when abandoning a lease under ASC 842. The accounting is broken down simply through an example to make learning easy.

In this video we explore sublease accounting. How to account for the original lease right of use asset (ROU) and lease liability as well as setup the new sublease accounting. We tackle common issues like net presentation and impairment as well.

In this episode we go through various lease modifications and the accounting related to each. We use visual elements to help understand how to adjust your lease accounting for any simple modifications. Video Link: https://youtu.be/EM_KypETSN4

It's the fundamental building block of accounting; debits and credits. In this video we explore what are debits and credits, how to make journal entries, and what T accounts are. If you want to learn the basics of accounting this is step number 1. We utilize examples to help make the learning fun and easy. Subscribe to my channel so you don't miss anything: https://www.youtube.com/channel/UC1Iva-1xSychaikynKjspiQ?sub_confirmation=1 If you can become a patreon: https://www.patreon.com/AccountingAcademy 0:00 Intro 0:56 The Accounting Equation 1:17 Debits and Credits 2:10 Journal Entries & T Accounts 2:41 JE Example 1 3:26 JE Example 2 3:56 Outro

In this video we explore the basics of what are financial statements. The main financial statements are the balance sheet, income statement, and cash flow statement. We snuck in an extra one called the statement of equity. Utilizing a simple example we break down the basics of each and help build our first financial statements for the kids lemonade business. Music from Uppbeat (free for Creators!): https://uppbeat.io/t/prigida/prism License code: LVPM1QWDUQOZWQGV 0:00 Intro 0:50 What are Financial Statements 1:59 Activity for the example 2:22 Balance Sheet 3:50 Income Statement 5:22 Cash Flow Statement 6:50 Equity Statement 7:40 Close