Basic Financial Statements and the 5 Types of Accounts
Автор: Kristin Ingram
Загружено: 2020-08-30
Просмотров: 2809
In this video, we discuss how the 5 types of accounts are used to contruct the basic balance sheet. We use assets, liabilities, equity, revenues, and expenses to build the income statement, statement of retained earnings, and the balance sheet. We also briefly discuss the statement of cash flows. A visual representation of the statements is shown to see how the statements flow together. I also spend time talking about the order in which the statements are created.
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