Скачать или смотреть Balance Sheet Tutorial Rap | Accounting Basics

Spice up your accounting with this edutaining rap!
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Music: Scratch the Itch by Quincas Moreira (YouTube audio library)

Let’s start with the basic accounting equation, just cold hard facts – no need for persuasion!
Assets equals liabilities, plus, the one and only stockholders’ equity.
Remember, A = L + E, see accounting’s not hard, it’s really pretty easy!
First, one of the financial statements, so when you’re CFO you’ll know all the arrangements.
Beginning…with the balance sheet, home of the A = L + E!
Assets, are arranged by liquidity, current comes first with the long-term next you see.
Current, includes cash and receivables, in one year’s time, the cash is retrievable.
Long-term, also known as fixed: land, buildings and office equipment.
Relax, no need to sweat, add current and fixed and you just found the total assets.

(add current and fixed and you just found the total assets.)

Hold up, moving to the other side, of our favorite two lines known as the equals sign.
Liabilities, in order of when each comes due, current’s number one, long-term’s two.
Current, includes payables, gotta pay within a year with assets available.
Long-term, another kind of debt, but pay within a year? No, it’s not due yet!
Lastly, we’re talking owner’s equity, with our favorite equation this is the E!
Made of, two little things, first common stock, then retained earnings.
Now add, all this you see, you get total liabilities and stockholder’s equity.
There you have it, that’s the balance sheet, just remember A = L + E!