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@accountingprofessor "Check out this #hack to remember how #debits and #credits impact each type of #account . This is some of the most important material for you to succeed in intro #accounting #class . #fyp #foryou #college #student #accountingstudent #study #studytok #studywithme #accountant #accountancy #easyaccountingforyou #educational #learnontiktok"
TikTok Link @accountingprofessor 2024-05-12T15:27Z 26.2K followers, 46.7K engagements

"In intro #accounting class one of the most important and fundamental building blocks is our knowledge of #debits and #credits and how these things impact accounts journal entries etc. I encourage students to FIRST think through what TYPE of account we are dealing with and if that account is INCREASING or DECREASING. Then we can apply knowledge of debits and credits. I introduce a helpful acronym to memorize which accounts are normal debit (increase with debits) or normal credit (increase with credits) accounts. #study #unitok #beginner #accountant"
TikTok Link @accountingprofessor 2024-08-02T16:10Z 26.2K followers, 283.7K engagements

"Replying to @Max in intro accounting we learn about four types of adjusting entries for accrual accountiny: deferred (prepaid) expensed deferred (unearned) revenues accrued expensed and accrued revenues. This video is one in what will be a four part series. Here i mm talk about prepaid expenses and the journal entries related to several examples. #accounting #study #major #explained #adjustingentries"
TikTok Link @accountingprofessor 2024-09-24T05:27Z 26.2K followers, 22.5K engagements

"We have two types of capital that make up our stockholders equity: contributed capital and earned capital. Contributed capital refers to what investors have CONTRIBUTED to become shareholders (common stock APIC preferred stock) while EARNED capital refers to our earnings (net income) that is retained in our business (in the retained earnings account). #accounting #study #fyp #unitok #educational"
TikTok Link @accountingprofessor 2024-06-07T19:07Z 25.9K followers, 1567 engagements

"In #intro #accounting #class we sometimes issue #bonds at a discount which means the cash we receive is less than the face value of the bonds. In this example I walk through creating a #journalentry for issuing the bonds and also for the first year cash payment interest expense and bond amortization. #study #student #major #unitok Check out the linked video below for how to calculate present value for bonds using a financial calculator @Accounting Professor"
TikTok Link @accountingprofessor 2024-07-10T19:05Z 26.2K followers, 1603 engagements

"#bond problems can be confusingmake sure you have the terminology down to master them #accounting #explained #educational #learning #fyp #foryou"
TikTok Link @accountingprofessor 2024-04-08T12:35Z 25.9K followers, 1113 engagements

"Quick study guide for how to account for bonds in intro accounting class. Comparing the coupon rate to the market interest rate will help you tell which scenario and related journal entries you will need #accounting #study #student Here are longer videos explaining each scenario in more detail: Discount: @Accounting Professor Face Value: @Accounting Professor Premium: @Accounting Professor"
TikTok Link @accountingprofessor 2024-07-13T01:02Z 26.2K followers, 7187 engagements

"Replying to @ella🥟 in intro accounting class we learn the percentage of credit sales method and aging of accounts receivable method are both acceptable methods to use for our allowance method of estimating bad debt expense. With the percentage of credit sales we can ignore the previous AFDA balance and book our estimate (total net credit sales * % historically uncollectible). For the aging of accts rec method we have to consider what is already in AFDA so we dont double count reallt old accounts in our estimate. #accounting #study #explained #accountsreceivable #major"
TikTok Link @accountingprofessor 2024-10-26T15:05Z 26.2K followers, 3950 engagements

"In intro accounting we cover amortization for intangible assets the same way we cover depreciation for PP&E. We expense it over the useful life of the intangible asset. Dont forget intangible assets do not have a salvage (aka residual) value #accounting #study #class #explained #journalentry"
TikTok Link @accountingprofessor 2024-08-22T21:42Z 26.2K followers, 17K engagements

"Replying to @tera155 in intro accounting class we learn the quick ratio is another more stringent liquidity test that measures a companys ability to meet their short-term obligations. It is similar to the current ratio. The difference is the quick ratio takes current assets MINUS inventory and divides that all by current liabilities. It generally gives a more accurate pictute of a companys truly liquid assets and whether those can cover current liabilities. #accounting #ratio #study #major #finance"
TikTok Link @accountingprofessor 2024-09-13T14:28Z 26.2K followers, 5103 engagements

"In intro accounting we often need to need to compute the net book value of PP&E (e.g. for selling an asset or determining its net impact on our balance sheet). Its an easy calculation using the historical cost of the asset and the total accumulated depreciation for the asset. #accounting #study #fyp #unitok #educational"
TikTok Link @accountingprofessor 2024-06-06T11:24Z 26.2K followers, 1992 engagements

"In intro accounting we learn that doing closing entries at the end of the year is an easy three-step process. We debit all revenue accounts then credit all expense accounts and plug in retained earnings for whatever is needed (debit or credit) to balance the entry. #accounting #explained #study #journalentry #closing #incomestatement #balancesheet"
TikTok Link @accountingprofessor 2025-06-04T00:41Z 26.2K followers, 39.6K engagements

"Replying to @Kevin in intro #accounting we learn about #earnings per share which is (net income - preferred dividends) / weighted common shares outstanding. In #intermediate accounting we expand this to consider diluted #EPS which simply creates a worst case scenario by assuming any and all convetible financial instruments (e.g. convertible bonds convertible preferred stock stock options warrants etc.) are converted into shares of common stock. This increases the denominator (leaving the numerator the same) meaning diluted EPS must be equal to (no convetible instruments) or less than (any"
TikTok Link @accountingprofessor 2024-07-29T17:42Z 26.2K followers, 5959 engagements

"In intro #accounting class we cover #goodwill as an intangible #asset in the same chapter as property plant and equipment. We recognize goodwill when we purchase another company and our purchase price exceeds the net fair value of the assets we are receiving (FV assets - FV liabilities). In this video I walk through an example of how we would create a journal entry to recognize goodwill in the purchase of another company. #study #journalentry #unitok"
TikTok Link @accountingprofessor 2024-07-31T15:16Z 26.2K followers, 2910 engagements

"In intro accounting class its easy to see the importance of the statement of cash flows because cash is so critical to a business. But students often have trouble creating a statement of cash flows. In this video I walk through a step-by-step process for creating a statement of cash flows. #accounting #study #explained #cash #cashflow #statementofcashflows"
TikTok Link @accountingprofessor 2024-12-05T19:33Z 26.2K followers, 41.7K engagements

"Some basic #facts about the #incomestatement #greenscreen #foryou #foryoupage #fyp #fyp #professorp #education #educational #easyaccountingforyou #introaccounting #learning #learningisfun #professor #college #business #accountingmadeeasy #accounting #university #accountingstudent #student #students"
TikTok Link @accountingprofessor 2024-03-27T19:15Z 26.2K followers, 54.6K engagements

"Replying to @Scoobydrew123 #greenscreen our balance sheet represents everything our company owns (assets) and how it financed everything it owns (liabilities and stockholders equity) at a single point in time. Let me known if this clarifies this for you or if you still have questions Im happy to help #accounting #study #student #foryou #balancesheet #fyp"
TikTok Link @accountingprofessor 2024-06-23T17:02Z 26.2K followers, 9996 engagements

"In intro accounting class we need to learn what assets are and what accounts we are referring to when we talk about assets #accounting #study #explained #asset"
TikTok Link @accountingprofessor 2025-01-08T22:13Z 26.2K followers, 10.4K engagements

"Replying to @April Mills debits and credits are the fundamental building blocks of accounting and one of the most important topics we cover in intro accounting. The key here is that most people initially think that debits and credits mean something they dont. All that debit means is left and credit means right. How they affect specific accounts depends on the account TYPE (asset liability equity revenue expense). Once you are able to classify accounts by their types I think it should help with the problem youre having 🙂 #accounting #study #major #unitok"
TikTok Link @accountingprofessor 2024-08-18T02:46Z 26.2K followers, 120.7K engagements

"Your friendly reminder of the simple definitions of the most basic building blocks of accounting: debits and credits. Dont overcomplicate it yall #accounting #study #fyp #unitok #educational"
TikTok Link @accountingprofessor 2024-06-07T00:54Z 26.2K followers, 1309 engagements

"Here are the basics for depreciation of long-lived assets #accounting #study #studytok #studywithme #educational #learnontiktok #fyp #foryou #accountant #accountancy"
TikTok Link @accountingprofessor 2024-05-23T13:08Z 26.2K followers, 5069 engagements

"In intro #auditing class its important to distinguish among different but related types of services/engagements that public accountants can provide. Three main types are assurance attestation and auditing services. I describe each type of services and how they relate to each other. For example auditing is a specific type of both assurance and attestation service. #audit #auditor #unitok #study"
TikTok Link @accountingprofessor 2024-07-24T20:32Z 26.2K followers, 15.3K engagements

"Replying to @ddiegofig one of our most important accounts in accounting is retained earnings which represents the cumulative earnings (net income) of our company over its lifetime less any dividends paid to shareholders. #accounting #finance #study #explained #financialstatements"
TikTok Link @accountingprofessor 2024-08-27T14:35Z 26.2K followers, 16.8K engagements

"Intro accounting: Intangible assets are an important part of our non-current assets on our balance sheet. They do not have any physical substance so you cannot touch them. Amortization for intangible assets is whar depreciation is for PP&E (cost allocation)"
TikTok Link @accountingprofessor 2024-06-10T15:23Z 26.2K followers, 1514 engagements

"In intro accounting class we learn the differences between deferred and accrued expenses with our expense matching principle which helps us adhere to accrual accounting. Deferred expenses literally mean we deferred the expense to a later point in time which means we paid cash first. Accrued expenses therefore have to be the opposite where we incur an expense first and then pay cash later. #accounting #study #major #explained"
TikTok Link @accountingprofessor 2024-09-30T05:40Z 26.2K followers, 15.1K engagements

"Replying to @Aristide Phillip in intro accounting class we learn that our income statement accounts are temporary accounts and we close them out into our balance sheet (to retained earnings) each year. To do this we have a X step process to create a closing entry: 1) debit all revenues for their full balances 2) credit all expenses for their full balances and 3) plug retained earnings to balance the journal entry. #accounting #major #study #explained #journalentry"
TikTok Link @accountingprofessor 2024-09-01T21:10Z 26.2K followers, 17.2K engagements

"Replying to @bruh absolutely Operating investing and financing activities form the basis for our Statement of Cash Flows This helps users of the financials understand how our cash balance changed from the beginning of the year to the end of the year. #accounting #study #student #foryou #cashflow"
TikTok Link @accountingprofessor 2024-06-24T02:16Z 26.2K followers, 3274 engagements

"In intro accounting dont get intimidated by contra accounts. They just work the opposite way as do the type of accounts they are a contra of. For example contra liabilities work the opposite way as so liabilities. #accounting #study #fyp #foryou #unitok"
TikTok Link @accountingprofessor 2024-06-14T00:33Z 26.2K followers, 5142 engagements

"In intro accounting we learn that an income statement (or statement of profit & loss) is one of our main financial statements that reports our revenues and expenses over a period of time. #accounting #explained #study #income #statement #revenue #expenses"
TikTok Link @accountingprofessor 2025-05-30T16:50Z 26.2K followers, 4817 engagements

"In intro accounting class we learn that the current ratio is a liquidity ratio that helps us determine a companys ability to meet its short-term obligations. The current ratio is current assets divided by current liabilities. #accounting #major #study #currentratio #explained"
TikTok Link @accountingprofessor 2024-09-12T04:01Z 26.2K followers, 6583 engagements

"Compensation and career advancement opportunities are always top of mind for business and accounting students. Here is an example of what you can expect with a Big X accounting firm according to KPMG Let me know what yall think of this #accounting #major #student #big4 #audit #salarytransparency #greenscreen"
TikTok Link @accountingprofessor 2024-06-27T17:57Z 26.2K followers, 206.9K engagements

"Replying to @Louisa Chapel Hill Realtor absolutely In intro accounting we learn our contra assets decrease our overall assets on our balance sheet and we increase an expense on our income statement (which ultimately decreases net income and therefore retained earnings on our balance sheet) #accounting #explained #study #journalentry #asset #incomestatement #balancesheet"
TikTok Link @accountingprofessor 2025-07-24T22:20Z 26.2K followers, 6682 engagements

"Replying to @tera155 in intro accounting we learn that working capital is a liquidity formula that helps us assess a companys ability to meet short term obligations (liabilities due within one year). Working capital is equal to our current assets minus our current liabilities and we generally prefer this to be positive. #accounting #major #study #workingcapital #explained"
TikTok Link @accountingprofessor 2024-09-11T01:27Z 26.2K followers, 11.7K engagements

"In intro accounting we learn that a balance sheet is one of our main financial statements that companies prepare for financial reporting. It is a snapshot of what resources our company has (assets) and how it financed what it has (liabilities + stockholders equity) at any given point in time. #accounting #explained #study #balancesheet #balance #sheet #asset #liabilities #equity"
TikTok Link @accountingprofessor 2025-05-29T04:04Z 26.2K followers, 13.4K engagements

"In intro #accounting we have a whole chapter dedicated to the statement of cash flows as its one of the most useful financial statements. Here I walk through the steps you should follow to approach creating a statement of cash flows problem. I then walk through an example question I have used in my class and walk through the solution. #study #cashflows #unitok #financialstatements"
TikTok Link @accountingprofessor 2024-07-24T19:17Z 26.2K followers, 73.4K engagements

"Replying to @Savannah SAHM 🫶🏼 stockholders equity is financing that has either been contributed by shareholders (Common Stock & APIC) or earned by the company (Retained Earnings). #accounting #explained #study #equity #stock #stockholdersequity #retainedearnings"
TikTok Link @accountingprofessor 2025-05-21T20:25Z 26.2K followers, 12.7K engagements