1. Time stamps:

    00:53 Claudio's Beach Business

    02:13 Income Statement (which is Revenue – Expenses)

    03:31 Balance Sheet

    06:21 Claudio's Balance Sheets at different points in time

  2. Thank you very much ma'am. that was very useful to me. please make more videos on accounting concepts.
    loads of appreciations from MAURITUIS 💜💜💜

  3. I have been studying accounting for almost a year now and the YouTube accounting content tends to lack the presentations skills necessary to convey the concepts. I'm so glad that you are expanding into this topic. I have been a long time fan of your excel videos.

    One thing I would LOVE is a comprehensive spreadsheet of the account names, along with what type of account they are, if the normal balance is credit or debit, if they go by other names, if they have contra-accounts, and if they are temporary or permanent. This resource seems to be lacking in the online and textbook community from what I have discovered so far. I have been working on a draft if you are interested.

  4. Wow my 2 years of MBA couldn't make it that simple, like the way this 5 – 10 min video made it…. you have absolutely blessed with magical teaching skills… if possible please make a video on teaching tips as well… it would be very helpful for us professionals who can do the stuff but can't create that knowledge 🙂

  5. Great video Leila. Thanks for that very useful way of teaching, telling a story.
    It is very clear for me, a non accounting related person.
    I'm very interested to watch your next video.

  6. This is very helpful. your approach of storytelling is what makes it effective. I appreciate this. Thank you. I watched your other videos from earlier on like on power point and I am still learning from them. You have a gift for imparting knowledge. Back to this video: I LOVED it. I was exposed to Accounting only at the MBA level but never had a foundation. I am now interested again. thank you.

  7. "Income is EARNED, Expenses are INCURRED, Assets are REALIZED and Liabilities are DISCHARGED, any system which records transactions exactly in this way is ACCOUNTING".. 🙂 Lovely video Leila.
    By the way you are looking exceptional :):):):):)

  8. Amazing video as always 😀😀
    However, 7:50 putting net income to equity is valid only in capitalist economies. In communist economies like Vietnam, Cuba, China before, you don't have this kind of "umbilical cord" between the equity of BS and P&L that is net income.
    Anyway great video, make more like these and keep up the mojo 😀

  9. Excellent video for someone to understand accounting basics. I look forward to a video on following:

    1. 3 rules of accounting
    2. How to identify accounts affected by a transaction for correct classification?

  10. Hi madam, i have question. Do have a video how to link a worksheet excel to customize ms word ? Is it possible ? Thank you for king of response.

  11. Leila, this is an excellent video to understand accounting basics. You always do an excellent job. The accounting and finance topics will be great series for you! Keep up the great work!

  12. A really nice and interesting explanation of accounting. I like it! 🙂 I would be interested in Cash Flow statement as well. Thank you in advance! 🙂

  13. your explanation was clear as crystal. perfectly paced. no fluff. pleasant voice and appearance. very professional. now, i feel smarter than i really am 🙂

  14. The whole series of Accounting will be a great hit as many are searching for a course which they can easily understand.

    Thank you so much for creating this.

  15. Wah…superb…for layman… perspective..
    Hope such hard systems can be explained more in future videos…
    Vat…gst… Internet-cloud GHG emissions..etc

  16. Great video Leila. I find your excel tips really useful and I have no doubt that I will also find the 'accounting explained' series just as useful. Keep up the good work!

  17. Accounting was decades ago for me, and I had forgotten about Equity being on the right side. I could not sort out how Assets = Liabilities. Now I remember. Thanks.

  18. Like your channel very much. Great insights on advance excel usage. Could you please come up with advance accountings knowledge which could be useful for interviews as well ?

  19. I wish I could learn it this way, when I studied in college! Story telling is indeed the best way! Nice video once again, keep them coming! Thanks! 🙂

  20. Excelente video Leila. Me gustaría que en el futuro puedas inlcuir también temas de Managerial Accounting! Thank you!

  21. Top quality production, as always! I am currently enrolled in your Unlock Excel VBA & Macros course – it is top quality as well. Best regards!

  22. Mam i need videos regarding gst and taxation,reverse charge mechanism etc but india specific…plz make video on it. Thanks mam for this video

  23. Hey Leila, could you help us set up a nice excel template for double entry accounting for keeping track of personal finances. Thanks.

  24. Great vídeo!
    Yes please continue posting more.
    I would like to hear from you a explanation about EBITDA, CAPEX and Depreciation subjects!!

  25. Literally I have learnt excel's advanced stuff and practically Implemented , automated! From @leila Gharani!! Thanks a lot

  26. Kindly make videos on accounting daily routine work by practical, from start to end work. Like invoice, entries, adjustments eyc

  27. Excellent Dear

    Can you please tell us about the real use of balance sheet in a company and how finance department works on it? And in excel is it possible to create MIS

  28. Hi Leila, I love your new series. I want to know how you can build a template when starting a business. Tracking the investments and defining the product price

  29. Another great video Leila. I'm looking forward to more video's
    on accounting and I know they will be just as good as your Excel vid's. Maybe at some point you can show us how we can use excel to do accounting.

  30. Dear Leila Gharani,
    You're really contributing the Excel community to boost their excel capabilities. Thank you. Please do a video for FIFO (First-In_First-Out) method with calculating the profit when inventory sold out each time.

  31. This great, your way of explaining is wonderful, continue the accounting course, may Allah bless you for helping people, I benefit a lot from your videos.

  32. Thanks Leila, you are awesome!
    Just one request, if it is possible for you to make video on journal entries regarding R2R process. Please cover all types of entries i.e adjustment, prepaid, accrual, advertisement, equity, assets, liability, depreciation, amortization, discount, revenue, expenses, bad debt, reserve and surplus… Along with that also explain link of the same again P&L and Balance Sheet… I know, I'm asking for too much but please if possible kindly make one such video… Thank you in advance…

    Best regards,

  33. Now where have I heard this before? 🧐

    Accounting Stuff (Aug 2018) – For money to go to one account it has to come out from another. Accountants consider every transaction to involve a flow of economic benefit from a source to a destination.

    [ACCOUNTING BASICS: Debits and Credits Explained]

    Leila (Nov 2019) – For money to go to one account it has to come out from another. We call this a flow of economic benefit from a source to a destination.

    [Accounting Basics Explained Through a Story]

  34. Your eyes are especially captivating in this video Leila. Even though I already know how to do a balance sheet, I had to watch it over half the way through lol 🙂

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