Accounting is the language of business. Much like you cannot understand what type of dish you are ordering if you don't know the language of the menu, you cannot understand what type of business you are buying in the stock market if you don't know financial statements.
By the way, don't worry. You don't need a college degree in accounting or math for this. You just need to listen to how Bob makes shady deals with the Swedish Mars Mafia and how he beats his second Cousin Stephan to build the first empire of restaurants on the red planet.
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Timestamps for understanding the financial statements:
00:00 Intro
00:22 The Language of Business
01:43 Issuing Common Stock
01:55 Important Difference Between the Statements
02:28 Cash & Equivalents
02:40 The Accounting Equation
04:41 Long-Term Debt
05:02 Property, Plant & Equipment
05:31 Current VS Long-Term Assets
07:40 Cost of Goods Sold (COGS)
07:57 The Income Statement
08:15 Gross & Net Income
08:34 Selling, General & Admin Expenses (SG&A)
09:43 COGS or SG&A?
10:20 Introduction to Depreciation
11:28 Capitalization
12:02 Depreciation & Amortization
12:45 Accumulated Deprecation
13:05 The Importance of Profit Margins
13:43 Interest Expenses
13:53 Income Tax Expense
14:11 Retained Earnings
14:21 The Cash Flow Statement
14:39 How the Statements are Linked
15:00 Cash from Operations
15:31 Cash from Investing
16:01 Capital Expenditures
16:16 Cash from Financing
16:28 Net Change in Cash
16:58 Only the Balance Sheet Accumulates
17:30 The “Stickiness” of Expenses
18:16 Inventory
18:26 Change in Net Working Capital
20:02 Research & Development (R&D)
20:36 Freeing up Cash
21:10 Collateral & Defaults
21:40 Debt/Equity Ratio
22:08 Issuing More Stock (Equity)
22:50 Equity VS Debt
23:29 Additional Paid in Capital
23:43 Other Intangibles
24:14 Amortization of Intangible Assets
24:35 Expanding the Costs
25:22 Major Expansion & Expenses
25:45 Accounts Payable
25:58 Accounts Receivables
26:39 Accrued Expenses
27:06 Dividends
27:58 Repurchasing Shares
28:40 Treasury Stock
29:12 Acquisitions
29:45 Goodwill
30:18 Short-Term Investments
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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.
