Understanding Financial Statements | Balance Sheet Explained

This video is the first in a four-part series of Understanding Financial Statements, starting with the Balance Sheet. The video uses a simple balance sheet as an example to explain what assets, liabilities, and equity are and how they work in a business balance sheet. 📊📞For help with your ecommerce accounting needs, book a free consultation with sales here: https://acuity.co/ecommerce-accountin... 🕰️Timestamps: 0:07: How to Read Financial Statements 0:22: Balance Sheet 0:54: Assets 2:37: Liabilities 3:21: Equity 4:00: Retained Earnings 💡✔️Helpful Resources Want to learn more tips on balance sheets? Check out these videos:    • What Is a Balance Sheet? Balance Sheet Def...   and    • A Balance Sheet Example      • Understanding Financial Statements | Balan...   🚀🚀 New to Acuity Ecommerce Accounting? Well, let me tell you a little bit about us. We’re here to make ecommerce businesses better. Acuity Ecommerce Accounting was co-founded by Patti Scharf (CPA). At Acuity, we specialize in providing accounting and online bookkeeping services tailor-made for ecommerce entrepreneurs. With a team of dedicated experts, we've become the trusted financial backbone for over 2,000 entrepreneurs. We empower you to scale your business efficiently, make more informed business decisions, and free up valuable hours in your week. To level up your ecommerce accounting, contact us here: https://acuity.co/ecommerce-accountin... 💙★💻 SUBSCRIBE TO US ON YOUTUBE 💻★💙    / @acuityecommerce   We've been focused on ecommerce accounting since 2012. Now we've brought our knowledge and experience to YouTube to help share important ecommerce, accounting, and business information with everyone who's looking for it. Think that might be you? Then please subscribe! 💙★💻 LET’S CONNECT 💻★💙 You can also check out our website for updates, videos, and special announcements. ► https://acuity.co/ecommerce-accountin... 💙★💻 FOLLOW US! 💻★💙 Facebook: https://www.facebook.com/acuity.co/?u... Twitter: @Acuity_co (https://bit.ly/48olcHi) Instagram: https://www.instagram.com/acuity.co/?... TikTok: https://www.tiktok.com/@acuity_co?utm... LinkedIn: https://www.linkedin.com/company/acui...