How the Income Statement and Balance Sheet are Connected | Example [Video]

Link to this audiobookhttps://audiobookspodcast.com/p/B08L41LZGKAccounting Made Simple: For Small & Businesses - 4 Books in 1 Audiobook free preview is an Business & Careers,Business Development & Entrepreneurship audiobook write by Gregory OlsonAre you about to start a business, but you don't know what structure to use and what your tax duties will be once you’ve started? Or are you a good entrepreneur in your sector but you’re still struggling to understand tax logics and feel you could do much more to guarantee tax savings for your company? Taxation plays an increasingly strategic role nowadays. The success or failure of many businesses, in various sectors, is no longer only linked to the goods of the business initiative, but also closely to the tax planning. Particularly in the start-up phase, being aware of the tax logics will allow you to take a proactive role in managing the same crop at your CPA. The collaboration between professional and knowledgeable entrepreneur can be considered a real corporate asset that can lead to various advantages not only in terms of tax savings. In any case, whether you find yourself in any of these two scenarios, this priceless bundle of four books contains all you need to learn about structures, taxes, and all the tax duties that you will have to deal with, explained from the point of view of a non-accountant. It’s been developed with the intention of coping with complex and challenging issues in a very simple way that help small businessmen and individuals who want to start a business and to learn more about the right company structure they can follow, payroll, accounting, and other such issues. This is by far the ultimate beginner’s guide for entrepreneurs who want to learn how financial statements and generally accepted accounting principles work. This bundle includes four fundamental books on accounting that every entrepreneur should keep on hand. Let’s have a quick look to each of them. Here are just some of the topics that are discussed in How to Start a Small Business in #2020: The Ultimate Beginner’s Guide for Entrepreneurs: A clear, step-by-step guide on how to start a company - from business plan to marketing, scaling, and funding strategies Tools for developing a work plan and the key guidelines of business finance Association and LLC basics Info on trademarks and advertising Helpful strategies for workforce resource planning, subcontracting, and recruiting And much more! In Accounting Made Simple: The Ultimate Beginner's Guide for Entrepreneurs, you will learn: The basics of income statements and how they work Four reasons a cash flow statement is important Six steps of accounting transaction analysis Key differences between assets and liabilities All about financial ratio analysis In the third book, Accounting Principles Made Simple: The Ultimate Beginner’s Guide for Entrepreneurs, you will learn: How to take control of your company’s account All about the accounting cycle and how to close the books What GAAP is, why it was formed, and benefits that it provides And much more! And finally, in the guidebook covering the Limited Liability Company (LLC): An introduction to what LLC actually means and reviewing whether LLC is right for you The advantages and disadvantages associated with LLC Easy steps toward starting your own LLC and LLC state-specific guidelines to follow The accounting and taxes involved in this industry Reviewing whether LLC is right for you And so much more! Among all forms of companies, starting an LLC is easier, with fewer complexities, paperwork, and costs. This form of company comes with a lot of operational ease with less record keeping and compliance issues. LLCs also provide a lot of freedom in management as there is no requirement of having a board of directors, annual meetings, or maintaining strict record books. These features reduce unnecessary hassles and help save a lot of time and effort. So what are you waiting for? Start building the steps toward success today; buy this audiobook now!©2020 Gregory Olson (P)2020 Gregory Olson

Join 10,000+ professionals who enrolled in the Controller Academy 🚀https://controller-academy.com/courses/controller-academy[coupon 30OFFCOURSE for 30% discount]Download the file used in the video:https://thefincontroller.com/p/accounting-adjustments-easy-to-hardPwC's guide on Revenue from contracts with customers:https://viewpoint.pwc.com/dt/us/en/pwc/accounting_guides/revenue_from_contrac/assets/pwcrevenueguide0324.pdfChapters:00:00 Agenda00:53 #1 Late Invoice for Inventory 02:44 #2 AR Write-off05:09 #3 Deferred Rent07:53 #4 Sales Commission (Incremental Cost)11:46 #5 Buyout of Legacy Vendor Contract What we cover in this video:Accounting Adjustments are made at each month end to ensure compliance with US GAAP or IFRS, depending on the Accounting framework your company chooses to useIn this video, I will walk you through 5 examples of these accounting adjustments. We will go from an easy example such as a Late invoice on inventory purchase all the way to a very difficult example related to costs to acquire a new customer contract We will look at both the Wrong Accounting treatment as well as the correct way to record each transaction-----------------------------------Hang Out with me on social media:📸 https://www.instagram.com/the_financial_controller/📱https://www.tiktok.com/@thefinancialcontrollerhttps://www.linkedin.com/in/bill-hanna-cpa-7653a851/DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!All views expressed on my channel are mine alone. Not intended as financial or professional advice

In this video, you will learn about money laundering, the Introduction to money laundering and the Stages of it. #moneylaundering #dirtymoney #wallstreetmojo #taxhavens #financialcrime Chapters: 00:00 – Introduction 00:31 – What is money laundering? 00:46 – Dirty money 01:27 – Cleaning of dirty money 01:27 – What is Clean money 01:59 – Why is money laundering is bad? 02:06 – No. 1 – Encourages criminals to keep going 02:32 – No. 2 – Harms the society 02:56 – No. 3 – Harms the Economy 03:33 – Stages of money laundering 03:50 – No. 1 – Placement 04:24 – No. 2 – Layering 05:06 – No. 3 – Integration 05:46 – Conclusion What is money laundering? Criminals like Pablo Escobar and ElChapo earn their money through crimes and get their money put into the system through money laundering. So, money laundering is getting dirty money cleaned and put into the system, making it seem like clean money. Dirty money Dirty money is something acquired through illegal means. People who get dirty money cannot show it to the authorities, or they will catch them. Cleaning of dirty money To get dirty money in the bank accounts, they must make it seem clean or legally acquired. Hence, the dirty money gets cleaned. Clean money There are many ways through which one can clean such dirty money. Once cleaned, the money is clean and can be put back into the system without tracing its origins. (Explained in detail in the video) Why is money laundering is bad? Encourages criminals to keep going Once criminals know that their dirty money can be cleaned and put back into the system as clean money, they realize there are no consequences to what they do. Hence, they continue their crimes. Harms the society These criminal activities are only harming society and putting loads of money into the pockets of the criminals. Harms the economy Any harm to society will directly harm the economy. Money laundering covers tax frauds, embezzlements, theft, and other illegal economic activities. (Explained in detail in the video) Stages of money laundering Placement The dirty money is first transferred into a bank account, mostly abroad, in those banks with very strict privacy policies. Layering The money is then divided into chunks and sent into accounts in various countries to make it hard to track by authorities. Integration The money must be brought back into the system and shown as legal. This is done by setting up a business with high cash flow on paper, and the money can be made legal through such tactics. (Explained in detail in the video) So, in this video we covered introduction and stages of money laundering. We hope you have learned much from this video. If you think you did, show it to us by liking the video, commenting, and sharing it with others. We are having another video on Money Laundering: Examples and Prevention . So do subscribe to our channel if you have not yet! We post videos on such topics regularly, so if you don’t want to miss out, subscribe to the channel. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo Hashtags: #moneylaundering #taxevasion #taxhavens #taxfrauds #financialcrime #druglords #dirtymoney #drugmoney #illegalmoney #shellcompanies

Brad is joined by Frank Boutillette to discuss FASB’s joint venture proposal and crypto assets decision, the AICPA Enhanced Audit Quality Initiative areas of focus for 2023 and recent SEC updates.*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***Resources:• FASB Seeks Input on Proposed Improvements to Accounting for Joint Venture Formations - https://njcpa.org/stayinformed/hubs/topics/full-article/2022/10/27/fasb-seeks-input-on-proposed-improvements-to-accounting-for-joint-venture-formations• FASB Decides on Accounting Method for Crypto Assets - https://www.cpapracticeadvisor.com/2022/10/13/fasb-proposes-accounting-method-for-crypto-assets/71714/• What CPAs need to know about NFTs - https://www.journalofaccountancy.com/issues/2022/oct/what-cpas-need-to-know-about-nfts.html• AICPA resources on enhancing audit quality - https://us.aicpa.org/content/aicpa/eaq.html• SEC Adopts Rules to Enhance Proxy Voting Disclosure by Registered Investment Funds and Require Disclosure of “Say-on-Pay” Votes for Institutional Investment Managers - https://www.sec.gov/news/press-release/2022-198• NJCPA Accounting & Auditing Knowledge Hub – https://njcpa.org/hub/accounting • Join the NJCPA Accounting & Auditing Standards Interest Group – https://njcpa.org/groups ========================================Watch all IssuesWatch Podcast episodes at https://www.youtube.com/playlist?list=PLJ2syuG5TiiZOFQdURLJUDzGJVz17ZPthSUBSCRIBE FOR MORE CPA VIDEO TIPS AND NEWS - https://www.youtube.com/c/njcpa?sub_confirmation=1LET'S CONNECT:NJCPA http://www.njcpa.orgFACEBOOK https://www.facebook.com/njscpaTWITTER https://twitter.com/njcpaLINKEDIN https://www.linkedin.com/grp/home?gid=165152INSTAGRAM https://www.instagram.com/thenjcpa