you want to see PA strength back again
accounting for beginners number 19 let
go anyways look at this I got sleeves i
got a collar on today so you want to
recognize me but it still is me
ok this one's going to be labeled some I
don't do abbreviate the accounting terms
this might seem really really basic but
I think that's kind of what a lot of my
tips are just really really basic and
I'm keeping my guess my my videos
between five most the most between five
and ten minutes sometimes over that you
know I got to come for like all it's
easy stuff i do so my sleep you noble
good then you can stop watching out for
a couple minutes or what I think you
should do is just take 10 minutes of
your time
reinforced idea i might have one other
words that's like all light bulb went
off
that's what happened for me when I was a
nice time I see him I was a voracious
youtuber like four bonds I couldn't get
bonds I must look that probably 50
different different people teaching
bonds it was just each of them maybe had
one word they did different and
eventually I caught on as we're getting
worked 19 on accounting for beginners
and I was like you know this is this is
a tip that I really wanted to do because
i'm giving this series of coming for
beginners all about 9 10 years and my
accounting career at this point I
started 3139 a half so eight-and-a-half
nine years ago i'm in my County have a
call i have an accounting degree from
Florida Atlantic University and I have a
a dialogue current licensed CPA and
state florida current license so the
tips on giving our stuff that i wish i
would have learned when I was first
first class first couple accounting
classes I some going back in this this
is a big one
now there's gotta be someone
that this will help and this is this is
for you but i think if you abbreviate
years being lazy a lot of teachers do
brief meet terms i do it sometimes you
can abbreviate I abbreviate now you know
nine ten years in my County career
because I know what the word stand for i
think that's a big pot even do that
sometimes I i write the approve you
determine that I got a question what's
that was that and I'm like oh you know
that everyone knows what they mean yet
let's get into this here what i mean by
the abbreviations so number 19 don't
radiate these are some common common
accounting terms cogs AP and AR re a pic
these are common terms that when i
started i would always abbreviate it and
just put those write those down
copy copy from the board all our most
teachers would do that in my head like
so for cogs I didn't I don't know I
didn't know what continent so I thought
it was like gears like gears coming
together know is you know whatever IDC
cogs and you are thinking gears like in
my head it was just four years i
understand i start i'm not sure when I
this is my own thing I never heard
anybody else they don't abbreviate but
once I figured out stop abbreviating
actually when you write out the word it
kind of has a lot of accounting mean
mostly every county if you write the
word out you're gonna um kind of that
the definition of it is in the working
for instance comes i think here started
writing out cost of goods sold well that
makes a lot of sense because then you
get what's the you know on attached to
get what's the cogs I'll work it out
what is the cost of
good sold so I think cost of goods sold
i sold a good eye swollen item
how much did it cost me well that's
colleagues that's cost of goods sold its
not gears
similarly I would see AP written
somewhere or so would say AP are our
defense i would go to think advanced
placement classes and get the smarties
an advanced placement classes and it's a
accounts that i started writing
ap out accounts payable so i would see
APR think Advanced Placement think
someone smart know so what's the what's
the AP right out
accounts payable to account
hail full account that i pay somebody
else so it's like I owe someone money
see what I'm getting there we go are
they are other singer our pirate are no
so it's really accounts receivable so
it's kind of just the opposite of
accounts payable but you know it's it's
it's not a fuckin pirate so an account
receivable and that one kind of says it
in the name like it's an account and
receivable receivable that means they
owe me something okay
read this is a big one because no no
teacher whatever freaking right out
retained earnings you know first day
class reread I'm like oh
we're like to show once i started right
now what we is actually stands for
retain earnings the definition is
actually in the word because the
retained earnings is the organs that are
retained in your business from year to
year a brilliant right and we have a pic
ah i always thought it was a pic like a
comb go pick curly hair whatever the pic
and no it's not it's additional paid-in
capital kind of stocks and stuff and
that's what additional that's what a pic
stands for additional paid-in capital
the main thing is don't be lazy when
you're starting your journey abbreviate
are when you're starting your journey
don't be lazy and write out the full
names of a very thin of all the
accounting terms it will be much better
for you anyways if you liked this give a
like I noticed my nephew everyone's
speed but i think it will benefit you
and this is a tip that I wish I would
have known in my first couple accounting
classes can see it on the new neighbors
car put in your little paper out deuces