Accounting Basics Explained: The Ultimate Guide | Assets, Liabilities & Financial Statements

Is Accounting really the "Language of Business"? Yes, and learning it doesn't have to be boring or difficult. Whether you are a student taking your first accounting class, a business owner managing your books, or a professional looking for a refresher, this video covers the fundamental building blocks you need to know. In this "Almost Everything" guide, Suresh Periyasamy (CPA, FCA) strips away the complex jargon to explain how the Accounting Equation, Debits & Credits, and Financial Statements actually work together to tell a business's story. 🔍 What You Will Learn in This Video: The Golden Rule: The Accounting Equation (Assets = Liabilities + Equity) explained simply. The 5 Elements: Defining Assets, Liabilities, Equity, Revenue, and Expenses. Debits vs. Credits: A simple cheat sheet to know when to Debit and when to Credit. Financial Statements: The difference between the Income Statement (Performance) and the Balance Sheet (Position). Accrual vs. Cash: Why timing matters in financial reporting. 🚀 Ready for Advanced Topics? Once you master the basics, check out my deep-dive playlists for CPA candidates and professionals: The Ultimate Guide to PPE (Fixed Assets):    • The Ultimate Guide to Property, Plant & Eq...   US GAAP (ASC 360) vs. IFRS (IAS 16): Detailed comparisons for international accountants. Audit & Internal Controls: Real-world guides on how to audit assets. 👨‍🏫 About the Presenter: Suresh Periyasamy is a triple-chartered accounting professional with extensive global experience in teaching and practice: CPA – Licensed by Iowa State Board & AICPA Member (USA) CPA – Member of CPA Ontario (Canada) FCA – Fellow, Institute of Chartered Accountants of Sri Lanka 📧 Need Personalized Help? I offer specialized one-on-one tutoring for US CPA (FAR), Canadian CPA, and IFRS exams. Email: [email protected] Book a Session: https://www.superprof.ca/experienced-... #AccountingBasics #FinancialAccounting #CPAExam #DebitsAndCredits #AccountingStudent #BusinessFinance #LearnAccounting #SureshPeriyasamy