Most people think you need an accounting degree to make or read a balance sheet, but that’s simply not true.
In this video, I’ll show you how to create a complete Profit & Loss statement and Balance Sheet from scratch, even if you’ve never studied accounting.
Through a simple story and a few logical steps, you’ll understand how every business transaction can be classified into just four categories – Expense, Income, Liability, or Asset – and how these are all you need to make financial statements.
By the end, you’ll be able to prepare a balance sheet in minutes and truly understand what’s happening inside any business.
Watch till the end, this one video might change how you look at business finance forever.
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Wonderful
I wasn t ready for how good this would be.
Thank you, sir. This really helped me a lot, especially the way you explained the example. It made the concept much easier for me to understand.
PURE TREASURE 🤩 KEEP HELPING US SIR
You made it soo simple!! thank you Sir!!! 🙂 I used to be scared of financial statements.. little did i know it could be understood in such a simple manner…
What a truly brilliant video. Thankyou!
Profit is entered in liabilities side , because Assets = liabilities+Equity
very good
Amazing explanation 👍
Your way is simple to understand but there is confusion when they look later -> when they want to know how 3L or 4.65 cash remaining, there should be cash ac which shows how it is calculated, same for capital account and trading account.
I have never seen such explanation.. wow.. great sir..
Balncesheet complexified 👏👏👏
what a way to explain a very difficult topic in very simple words with examples. 💯
thank u, luv u. helped me revise my concepts well
Great
Hit my 👍
..
And It will increase my assets by watching this epic video with every 👍 up😂😂
In college days some professor were making confused on debit and credit now I realised it's so easy just to understand the balance sheet… thank you very much sir
❤❤❤
The best teacher I have ever come across.Thanks very much for the knowledge ❤❤❤❤
Your teaching is next level. By the way sir you look exactly like denzel washington😅take it as a compliment
Just amazing 🫶🏻
Raw Material is an asset and It convert to expense when it converts to finished goods
Highly valuable information, so kind of Mr .Anil to make things so simplified to any know n unknown people.
Thank you for constantly uploading various videos always.
In your Balance Sheet example, you said KF took a loan from bank. Hence it appeared in the Liabilities side, but why didn't it appeared on the Assets side too wth Bank getting increased?
❤ Beautiful lesson..made it simple
Goodbye Engineering…
EXCELLENT 😊
Profit appears as liability in balance sheet because the business has to pay profit to the owner.
Am I right
Please comment
What a great teacher
Every one shows how transactions are recorded and classified, but it doesn't clear our concept.
Mr Anil is clearing our concepts and recording and classifying every transaction.
Thanks a lot Sir،
May Allah give you all the happiness and best health and prosperity.
Thanks again
Profit is a liability because business, a legal entity, owes to business man.
You omitted saying a word about Trial balance before moving over to PL and BS
Thank you for the video. It's helpful.
I am not from accounting background, so pardon my silly question. Earlier you said that financial transactions are recorded into P/L statement and Balance Sheet. Profit is not a transaction. Profit is just a result of our calculation. Why add that to Balance sheet?
Wow…being novice in finance and accounting but i was able to understand some of the terms easily
Hi,
Do you offer US CMA Classes?
Non-commerce background guys think that they understand ACCOUNTING in few days and get job 😂😂 one rupee difference in accounts will throw u out of earth permanently 😂😂.
Awesome.. So simple 😊thanks ❤pls make. More videos for us. In simple layman language.
Great Teacher
Today being a commerce student I am happy
But how to get job after this
For non commerce very helpful to learn Balance sheet very easily
How to prepare Ind AS balance sheet next video
In realty only commerce students can be read a balance sheet instead of others stream it's irrelevant things others stream students said I have leant only 20 minutes video it's joking things for those whom working for whole age to get learn balance sheet
Huge respect to you sir, You are exceptionally good in making layman understand and teaching fabulously!!
A great teacher. Thank you for your valuable time and effort.
Dr. Lamba, your are just splendid. I just came across your videos, they are very educative and useful.
💐💐💐…👌
Expenses – dr.
Incomes – cr.
Assets-dr.
Liabilities-cr.
Very easy to understand and most valuable and knowledgeable video i saw today .
I know nothing about finance since I'm frm diff background. But this made it look so easy. Felt like that one prof who makes complex topics simple to understand 😍