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Business Definitions
ACCOUNTING AND FINANCIAL STATEMENTS : BASIC
Assets (2:26)
Liabilities (1:45)
Equity (1:27)
Accounting Equation (1:39)
Revenue/Gross Receipts/Sales (3:16)
Cost of Goods Sold (2:55)
Overhead (2:18)
Net Income (1:30)
Accrual Basis Accounting (4:45)
Cash Basis Accounting (4:08)
ACCOUNTING AND FINANCIAL STATEMENTS: ADVANCED
Cash (1:15)
Inventory (1:57)
Fixed Assets (2:40)
Intangible Assets (1:43)
Prepaid Expenses (1:47)
Credit Card Payable (1:15)
Line of Credit Payable (1:36)
Loan Payable (1:42)
Payroll Taxes Payable (1:07)
Sales Tax Payable (1:39)
Owner Investment/Contribution (1:14)
Owner Draw/Distribution (1:38)
Retained Earnings (1:24)
Common Cost of Goods Sold Accounts (2:08)
Common Overhead Accounts (4:20)
Gross Profit (2:25)
Gross Profit Margin (1:47)
Burn Rate (1:05)
TAX RETURN RELATED
Individual/Personal Tax Return (1040) (2:58)
Business/Corporate Tax Return (1065, 1120S, 1120) (2:32)
Adjusted Gross Income (1:32)
Taxable Income (2:56)
Marginal Tax Rate (1:45)
Effective Tax Rate (0:58)
Tax Refund (1:34)
Deductible Business Expenses (2:32)
TALKING SHOP
Employee (5:59)
Independent Contractor (Subcontractor/1099 Worker) (4:49)
Sales Tax (1:46)
Sole Proprietorship/Sole Prop (1:59)
Single-Member LLC (SMLLC) (2:16)
Partnership/Multimember LLC (3:00)
S-Corporation (3:49)
C-Corporation (1:33)
Doing Business As (DBA) (1:03)
Entity Type (0:57)
EIN (1:00)
FORMS
1099-NEC/1099-MISC & W-9 (2:49)
W-2 & W-4 (2:56)
1040 (3:59)
1120-S & K-1 (1:18)
1065 & K-1 (1:19)
1120 (1:25)
941 & 940 (1:51)
Gross Profit
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