The ACCOUNTING BASICS for BEGINNERS

Accounting is the process of recording, organizing, understanding, reporting on, and analyzing financial information of a business. The accounting process can be broken into three core parts:
1. Recording all transactions
2. Reporting with key financial statements
3. Analyzing the data

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⏱️TIMESTAMPS
00:00 - Intro
01:13 - What is Accounting?
03:13 - Step 1 of the Accounting Process
04:57 - Step 2 of the Accounting Process
07:40 - Step 3 of the Accounting Process
08:18 - Accounting Process Example
10:04 - Outro

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).