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.

https://youtu.be/ib4oipW7QaQ?si=FpZjKI38gTL8LiEe

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. 

https://youtu.be/hzNqPXgMCwA?si=sBcHJVFtCwq-L4WJ

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.