Balance Sheet and Income Statement A Beginners Guide

What's the difference between the balance sheet and income statement, two of the most common financial statements. #balancesheet #incomestatement #accounting Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1 Link to Cash Flow Statements for Beginners https://youtu.be/go2MG8tb2Iw Link to Understanding the Chart of Accounts https://youtu.be/iVQxpHceFIc Looking for more of the most current business intelligence about + Best practices around your payment and accounts payable function + Current and new fraud protection protocols + The newest technology impacting your accounting, accounts payable, and payment functions + Career advancement +And much more!! Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1 +++++++++++++++++++++++ See most recent videos at: https://www.youtube.com/@APNow/videos See all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFAB Learn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9V Learn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_ Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVby Other ++++++++++++++++++++++++++++++++++ Website: https://www.ap-now.com/ Linkedin AP Now: https://www.linkedin.com/company/ap-now/ Twitter: https://twitter.com/Accountspayable More about Mary Schaeffer: https://www.linkedin.com/in/accountspayable Facebook: https://www.facebook.com/AccPayNow 00:00 Balance Sheet and Income Statement: A Beginners Guide 00:26 What is a balance sheet? 02:10 Balance Sheet Ratios 02:22 Current Ratio 02:57 Quick Ratio 03:44 Accounts Payable Connection 03:59 What is the income statatement 04:37 How is income statement used 05:19 Vertical Analysis 05:48 Horizontal Analysis 06:48 Balance Sheet and Income Statement: How Are They Related 07:50 Financial Statement Trivia