BASICS OF ACCOUNTING: A Simple Guide for Beginners

Are you interested in discovering the true meaning of Accounting? In this video, we will use a simple example to guide you through all 8 stages of the Accounting Cycle. We will cover topics such as Accounting Equations, Debits and credits, Double-Entry Accounting, T-Accounts, Trial Balance, and more. If you are new to Accounting, I highly recommend watching this video from beginning to end. _______________________________________________________________________ 🤝 Join our community by hitting the "Subscribe" button and turning on the notification bell so you never miss a money-saving tip. 💬 Share your finance questions or insights in the comments – we love hearing from our viewers! About Us: Kountin Koins is here to help you learn about money and make better financial decisions. We explain accounting, finance, and tax strategies in a way that is easy to understand, even if you're a beginner. Our channel is led by a Director of Finance with over 10 years of experience. We share practical tips, insightful explanations, and expert advice on all things finance, from accounting to budgeting and more. Key Moments 00:00 - Intro 01:05 - Step #1: Identify Transactions 01:25 - Step #2: Preparing a Journal Entry 03:59 - Step #3: Post-Journal Entry to the General Ledger 05:43 - Step #4: Preparing an Unadjusted Trial Balance 07:00 - Step #5: Posting Adjusting Entries 09:40 - Step #6: Creating an Adjusted Trial Balance 10:07 - Step #7: Creating Financial Statements 12:40 - Step #8: Post Closing Entries #accounting #accountingbasics #basicsofaccounting