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US GAAP Principles Mapped To The Balance Sheet Accounts. Fully Explained! [Video]

US GAAP Principles Mapped To The Balance Sheet Accounts. Fully Explained!

Whenever I look up US GAAP principles such as Accruals and conservatism, I often find Cold Hard definitions that lack context.

But how do these US GAAP principles relate to the accounts on the financial statements? for example, what does the principle of accrual mean for the balance of accounts receivable? And what does the principle of conservatism mean for the inventory account?

Videos Mentioned:
My video on Cash Accounting vs. Accrual Accounting: https://youtu.be/eApsfjccm7s
My video on Revenue Recognition: https://youtu.be/CnlKAvu6qdI
My video on GAAP Principles for Income Statement: https://youtu.be/Yy2y_tfqKdc

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All views expressed on my channel are mine alone. Not intended as financial or professional advice

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Resources for Accountants

Accountant or Bookkeeper? Which Role Is Right for You [Video]

Become a Controller; enroll in the Controller Academy 🚀 https://controller-academy.com/courses/controller-academy This video will be your ultimate guide on the differences But more importantly, I am gonna focus on how you can make high 6 figures with either of these 2 professions So here is our agenda: we'll take a look at the Job responsibilities of both the bookkeeper and the accountant We'll talk about the education requirements And then, I'll tell you How you can earn high 6 figures regardless of whether you chose to be a bookkeeper or an Accountant Time Stamps: 00:00 Intro 00:27 Agenda 00:46 1. Job Responsibilities 02:23 2. Education Requirements 04:07 3. How Accountants Make $100K plus 06:37 4. How Bookkeepers Make $100K plus ----------------------------------- 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

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Resources for Accountants

All About US CPA Eligibility | CPA | CPA Course | Simandhar Education [Video]

All set to enhance your Accounting & Finance career with a US CPA course? Know all about the eligibility before you get started.Watch this video to know more!#ThinkCPAThinkSimandhar #cpa #uscpa #cpaexaminIndia #cpaevaluation"Simandhar Education will help you ace the CPA, CMA, EA, CIA, and IFRS certifications. For any further information regarding the courses, you can feel free to reach out to our expert counselors at 𝟕𝟕𝟖𝟎𝟐𝟕𝟑𝟑𝟖𝟖. Drop your Details: https://bit.ly/3wf2fD4 ------------------***-----------------***---------------------***---------------------***-----------------------𝗔𝗯𝗼𝘂𝘁 𝗦𝗶𝗺𝗮𝗻𝗱𝗵𝗮𝗿 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻Simandhar Education is a leading training provider for US CPA, US CMA, CIA, EA, and IFRS. Simandhar Education always believes in transforming education and providing high standards of learning to the students. We are the channel partner of AICPA and the official partner of Becker Education, the most acclaimed CPA reviewer in the USA. We believe in imparting information and concentrate on grooming individuals and make them fit for the corporate world. The academy provides quality education with more emphasis on practical knowledge. Simandhar Education has a wide network of world-class trainers, teachers, and industry experts, and all the teachers at Simandhar are CPA qualified and rank holders. We also provide guaranteed placement support to the students and personal grooming sessions for the interviews. "𝗦𝗶𝗺𝗮𝗻𝗱𝗵𝗮𝗿 𝗔𝗰𝗵𝗶𝗲𝘃𝗲𝗺𝗲𝗻𝘁𝘀Simandhar education has over 3000 enrolled students and has successfully placed more than 200 students across reputed firms. We have a team of 10 leading faculties and have effectively conducted 100+ corporate events in the CPA/ CMA domain. Contact Us: +91- 7780273388 or leave a message on social media.Make sure to hit the like, share and subscribe to our YouTube channel.To get more updates on the YouTube Channel click: http://bit.ly/2Mt2BB1Now you can listen to our podcast at https://bit.ly/36PYQPP ------------------------------- 𝐅𝐨𝐥𝐥𝐨𝐰 𝐮𝐬 -----------------------------------Make Sure to follow us on our Social Media Channels:Podcast: https://bit.ly/36PYQPPInstagram: https://zcu.io/TNgDLinkedin: https://bit.ly/2Oh9w5dFacebook: https://zcu.io/gDvXTwitter: https://zcu.io/17cSThink CPA / CMA - Think Simandhar