The KEY to Understanding Financial Statements

👉 Confused by accounting? Download this free cheat sheet: https://accountingstuff.com In this video I'll share the key to understanding Financial Statements. You'll learn the relationship between the Balance Sheet and the Accounting Equation, and where the Income Statement fits into the big picture of Accounting. 🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whole Pla...   🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 00:16 - Financial Statements Definition 00:35 - The Accounting Equation 01:16 - The Balance Sheet 02:16 - What is Equity made up of? 02:29 - Capital Contributions Definition 02:47 - Retained Earnings Definition 03:03 - Profit Definition 03:27 - What are Retained Earnings made up of? 03:50 - The Expanded Accounting Equation 05:08 - The Link between the Balance Sheet and the Income Statement 05:57 - Outro 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mf... ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🚶FOLLOW ME ON ▪ Instagram →   / accountingstuff   ▪ TikTok →   / accounting_stuff   ▪ Facebook →   / thisisaccountingstuff   ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #accounting #financialstatements #accountingstuff