Foundation of Financial Accounting

Foundation of Financial Accounting: IFRS and USGAAP

What is Accounting?

In this video, you will learn what is Accounting and why it is useful to business.

Financial vs Managerial Accounting

In this video, you will learn the difference between Financial and Managerial Accounting.

The Accounting Equation

Do you know what the Accounting Equation is? Do you know how to combine Assets, Liabilities, and Equity? What this video and find the answers.

Cash vs Accrual Basis

Under USGAAP and IFRS, accrual basis accounting is mandatory. Do you know why? Do you know the difference between cash and accrual basis Accounting? The answer is here.

The Conceptual Framework

Accounting is not just a set of standards and procedures. Instead, there is an elaborate and logical conceptual framework to support it.

Processing Cycle

How does Accounting work? Check this video to know more about the ten steps of the Accounting Processing Cycle.

Debits and Credits

One of the greatest fears of Accounting students. However, it is not that hard. Click on this video to learn debits and credits in less than 12 minutes.