1 - Assets, Liabilities, Equity, Revenue...

I've read a lot of boring stuff so that you don't have to! Today we will summarize some of the useful information in the FASB Concepts Statements and other literature. This information will be useful as you move along to more advanced levels of accounting. 

Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and computer expense of $30,000 (net income of $30,000). You also contributed $10,000 to the business this period. Step 1 – Transfer Revenue and Expense items to Income ... Show More

Today we will go over the adjusting process. This is where we make our adjusting journal entries to get from our unadjusted trial balance to our adjusted trial balance, which contains the figures we use on the financial statements and tax returns. We will briefly discuss prepaid ... Show More

From afar, money market and savings accounts can appear to be the same type of account. Both yield comparable interest rates for limited access to funds. Both are FDIC-insured. But there are a few distinct differences to be aware of when choosing between a money market vs. saving ... Show More

A brief summary of this episode 

A brief summary of this episode 

<p>This episode of FinPod covers understanding bank financial statements and analysis. We highlight the unique aspects of bank financial statements compared to typical company statements, plus the significance of the balance sheet and the importance of understanding interest inco ... Show More

A brief summary of this episode