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Resources for Accountants

Top 5 Lessons from Warren Buffet! [Video]

Top 5 Lessons from Warren Buffet!

In this video, we will talk about the five lessons that we can learn from Warren Buffett, be it an investment or a personal one.

What are the five lessons by Warren Buffett?
1. Invest only in those businesses that you understand- Research everything about any business, field, or sector before you even think about investing in them.
2. Pay little attention to headlines- Keep away from all the artificial hype and buzz in social and digital media and trust only in reputed news sources and headlines.
3. Be patient with your headlines- Instead of switching from one stock to the other based on fluctuations in stock prices, hold on to your quality investments for the long run.
4. Don’t borrow money to invest- Borrowing can result in a double loss for you in the stock market. Therefore invest only when you have the money to do so.
5. Invest in yourself- Keep learning new skills and read as much as you can about the financial world, and there is always a chance you may end up growing in the stock market even faster than you thought.

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Categories
Resources for Accountants

P&L Presentation Type based on your Audience (Natural Account vs. Functional) [Video]

Before compiling the P&L, you need to decide on the type of presentation (based on your audience): Natural Account, Functional or Hybrid. Free P&L Template shown in video: https://thefincontroller.com/p/types-of-incomestatemet-presentation Enroll in the FP&A Academy: https://controller-academy.com/courses/fpa-academy Time Stamps: 00:00 Intro 01:28 Company Profile 02:17 1. Natural Account P&L 04:26 2. Functional P&L 05:38 3. Hybrid P&L 09:08 How To Setup in NetSuite 10:29 How To Setup in QuickBooks Online ----------------------------------- Hang Out with me on social media: 📸 https://www.instagram.com/the_financial_controller/ 📱https://www.tiktok.com/@thefinancialcontroller https://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

Categories
Resources for Accountants

Difference between an auditor specialist and a company or management specialist [Video]

Rachel is looking to "close the GAAP" on the difference between an auditor specialist and a company or management specialist. Check out her quick video explanation here! If you are interested in learning more, explore our eLearning course on Using the Work of Specialists: https://www.gaapdynamics.com/product/using-the-work-of-specialists/

Categories
Resources for Accountants

Entrepreneurship Mistakes from Hell | How to Start a Startup [Video]

Embarking on the journey of entrepreneurship is akin to riding a roller coaster blindfolded—it's exhilarating, unpredictable, and fraught with potential pitfalls. While mistakes are an inevitable part of the entrepreneurial journey, some are more catastrophic than others. These "mistakes from hell" can derail even the most promising ventures, leaving entrepreneurs reeling and searching for ways to recover. Let's explore some of these missteps that have the potential to turn an entrepreneurial dream into a nightmare.