15 - Adjusting Journal Entries (The Adjusting...

I've read a lot of boring stuff so that you don't have to! Today we will summarize some of the useful information in the FASB Concepts Statements and other literature. This information will be useful as you move along to more advanced levels of accounting. 

Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and computer expense of $30,000 (net income of $30,000). You also contributed $10,000 to the business this period. Step 1 – Transfer Revenue and Expense items to Income ...  Show more

This episode of FinPod covers understanding bank financial statements and analysis. We highlight the unique aspects of bank financial statements compared to typical company statements, plus the significance of the balance sheet and the importance of understanding interest inco ...

https://traffic.libsyn.com/secure/bizpod/BEP-417-Audit-2.mp3 Welcome back to Business English Pod for today’s lesson, the second part of our financial English series on discussing an audit. Money is the language of business, and audits are one way companies prove they can be trus ...  Show more

https://traffic.libsyn.com/secure/bizpod/BEP-416-Audit-1.mp3 Welcome back to Business English Pod for today’s lesson, the first in a two-part series on financial English for discussing an audit. Financial audits have a way of increasing stress within a company. Suddenly everyone’ ...  Show more

In this episode, we explore the balance sheet, a key financial statement that provides a snapshot of a company’s financial position at a specific point in time. We introduce the “three horsemen” of the balance sheet: assets, liabilities, and equity, explaining how they interac ...