Double Entry Accounting and t-accounts
In Chapters 1 and 2 of the Wild, J., & Shaw, K. (2022) text, you learned about double entry accounting and preparation of financial statements. View the following YouTube videos.
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Double Entry Accounting and t-accounts (Debits and Credits). (n.d.). Www.youtube.com. Retrieved July 19, 2022, from
The Finance Storyteller. (2020). Trial balance vs balance sheet. In YouTube.
After viewing the videos, develop your own recorded video with the following scenario in mind:
You have been hired by a small business to help with accounting records. A group of non-accounting professionals within your organization approach you with questions they have about these records. How would you train them on the following:
· Brief summary of major concepts found in Chapters 1 and 2
· What is a trial balance and what is its purpose?
· How is the balance sheet derived from the trial balance?
While you are explaining, provide them with a fictitious numerical example demonstrating each point.
Your recording should be 5 to 7 minutes long and be accompanied by a visual or slide deck.
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