In this video, the difference between Absorption Costing and Variable Costing are described. In addition, an example of a Gross Profit Income Statement (Absorption Costing) and a Contribution Margin Income Statement (Variable Costing) is demonstrated.


The Classified Balance Sheet

In this video, I discuss what a classified balance sheet is and how to create one. In addition, I discuss two liquidity ratios: the Current Ratio and the Debt Ratio.




https://youtu.be/7U1a94hF4LE

The Closing Process

In this video, the closing process is explained and why it is needed. Examples are used to show the journalizing and posting of closing entries. https://youtu.be/AvQb1QgtoW4