Accounting 101: Understanding the Income Statement

This video series is for those new to accounting or individuals who just want to know a little more about accounting basics. That is my target audience.

In this video, I explain the Income Statement and contrast it with another concept that is often confused with the Income Statement...Cash Flows. To make the concept more concrete, I compare business income and cash flow with that of an ordinary household; work completed, payday, and paying bills. I also walk the viewer through an actual income statement explaining how it is organized and how information on the statement is related.

My playlist table of contents, Video Companion Guide PDF documents, and file downloads can be found on my website: https://www.bcfoltz.com

Thank you for watching!

Source:
Warren, C.S. (2008). Survey of Accounting (Fourth Edition). Mason, OH: South-Western Cengage Learning. (I really like this book so check it out!)