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Accounting 101

Accounting 101: The Language of Business

Beginner ⏱ 5 hours 📚 49 lessons 🌐 en 🏆 Certificate 📅 Last updated May 2026

Get the accounting foundation you need. Understand financial statements, journal entries, and more. Perfect for beginners.

1 section • 49 lectures • 4.7h total length

  • Debits and credits DC ADE LER 6 min
  • Accounting equation examples 4 min
  • T accounts explained 6 min
  • Balance sheet and income statement relationship 5 min
  • Double entry accounting explained 4 min
  • Accounting principles 9 min
  • Debits and credits explained 4 min
  • Accounting equation explained 4 min
  • Accruals explained 9 min
  • Accrued revenue 7 min
  • Accrued revenue vs deferred revenue 5 min
  • Prepaid expenses explained 5 min
  • Prepaid expense examples 4 min
  • Straight line depreciation 9 min
  • Double declining balance depreciation 12 min
  • Depreciation explained 9 min
  • History of accounting 4 min
  • What is a general ledger 4 min
  • Trial balance explained 6 min
  • Trial balance vs balance sheet 5 min
  • Contra accounts explained 5 min
  • Suspense accounts explained 10 min
  • Adjusting entries - two categories 1 min
  • Adjusting entries 14 min
  • Closing entries in accounting 7 min
  • Income statement explained 12 min
  • Cost Of Goods Sold (COGS) explained 11 min
  • What is gross profit 5 min
  • What is Net Income? 4 min
  • BALANCE SHEET explained 9 min
  • What is Equity 6 min
  • Accounts Receivable and Accounts Payable 4 min
  • Current assets and current liabilities 7 min
  • First In First Out (FIFO) inventory method 7 min
  • LIFO method accounting 7 min
  • FIFO vs LIFO example 11 min
  • Average cost inventory method 7 min
  • US GAAP vs IFRS 17 min
  • Going Concern Principle 1 min
  • Conservatism accounting principle
  • Consistency accounting principle 1 min
  • Full disclosure accounting principle 1 min
  • Matching accounting principle
  • Materiality accounting principle 1 min
  • Objectivity accounting principle
  • Depreciation vs amortization 1 min
  • Accounting Principles - making of the video "behind the scenes" 9 min
  • Gross vs Net 4 min
  • Cash - cash equivalents - short term investments 1 min
The Finance Storyteller

The Finance Storyteller

YouTube Channel

📚 2 courses ► YouTube channel

Learn finance the EASY way! My channel is all about explaining you finance, accounting and investing in an understandable way: getting straight to the point, and having the numbers do the talking. Lots of case studies and real life examples, and clear descriptions of how things work in the real world (rather than the textbook).

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I will explain you finance terminology, guide you through accounting steps, show you how to read an annual report, walk you through the financial statements, and explain you how to invest.

Learn the business vocabulary to join the conversation with the CEO at your company. Understand how financial statements work in order to make better stock market investment decisions.

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