Journal Entries &  Financial Statements from A to Z. Financial Accounting Course.  CPA Exam FAR
Channel: Farhat Lectures. The # 1 CPA & Accounting Courses
Date: 08/09/2020

IN this video, I illustrate how to prepare  journal entries and prepare financial statements.  Journal entries are used to record the financial activity of your business. Financial statements are written records that convey the business activities and the financial performance of a company.

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The basic financial statements of an enterprise include the 1) balance sheet (or statement of financial position), 2) income statement, 3) cash flow statement, and 4) statement of changes in owners' equity or stockholders' equity. The balance sheet provides a snapshot of an entity as of a particular date.