Graeme Ward’s Post

9 FREE videos for learning Accounting Credits to Josh Aharonoff, CPA, follow him for more practical finance content. Here's the original post ---- 9 FREE videos for learning Accounting 🔖 Bookmark this and share it with your coworkers to grow in your career 1️⃣ The Accounting Equation 📽️ https://lnkd.in/d_NjgspP I chose this as #1 because it really sets the foundation for Accounting. The Accounting Equation means Assets = Liabilities + Owners Equity EVERYTHING that the business owns / substantially controls (Assets) Came from either amounts that are owed now to creditors (Liabilities) or amounts that are now owned to Owners (Owners Equity) 2️⃣ Debits & Credits 📽️ https://lnkd.in/dcs3ViiN Building on the Accounting Equation, Debits & Credits allow you to showcase the movements of the account balances on your General Ledger. Debits must always equal Credits, and certain accounts increase with a debit, while others increase with a credit (and vice versa) 3️⃣ Profit & Loss 📽️ https://lnkd.in/dQcpNsn3 The Profit & Loss is the first of the 3 popular financial statements, and it’s one of the easiest report to understand. This report shows you the PERFORMANCE of your business, and gets netted out to an account called Net Income, which is your bottom line profit in a period. 4️⃣ Balance Sheet 📽️ https://lnkd.in/d_byKVuW The Balance Sheet to me is the most important financial statement, and shows you the POSITION of your company. 5️⃣ Statement of Cash Flows 📽️ https://lnkd.in/dGijRJf4 The Statement of Cash Flows showcases the MOVEMENTS in your most important asset…your Cash 💰 It can be presented via the Direct Method or the Indirect Method… and is separated by Cash from Operating Activities, Cash from Investing Activities, and Cash from Financing Activities 6️⃣ Chart of Accounts 📽️ https://lnkd.in/dZseKpZF Your Chart of Accounts allow you to design how your financial statements look. Study these 5 tips to ensure your readers can easily understand what’s going on! 7️⃣ How the 3 Financial Statements Connect 📽️ https://lnkd.in/d6GGYU4t The 3 Financial Statements connect together in a few ways, and it’s actually simpler to understand than you think. 8️⃣ How to Build a Statement of Cash Flows 📽️ https://lnkd.in/d6UftEsS When you understand how the financial statements connect, you can easily create a statement of cash flows. 9️⃣ How to Build a Profit & Loss Dashboard 📽️ https://lnkd.in/d5VyGBsE Now comes the time to present your results via a pretty dashboard! The key is to develop columns where you can select years, quarters, or months. ---- Follow our page Accounting ABCs to learn more about the fundamentals of Accounting