In this video I have explained the basic concept of accounting in a simple way and this is especially for science background students. Here I have explainedTIMESTAMPS 0:00 - Intro 0:12 - What is Accountancy? 3:03 - Accounting Process 5:06 - 5 Elements of Financial Statements 6:13 - Asset? 8:34 - Expense? 10:38 - Liability? 12:58 - Equity or Capital? 16:38 - Revenue? 17:44 - Practical Example 24:41 - What is Double Entry System? 28:47 - Debit and Credit Balances This is for the students of CLASS 11, B.COM, BBA, CA INTER, CMA and any other accounting courses. How to Pass Journal Entries? https://youtu.be/NP99QtgkiOQ Clear your doubts by direct messaging us on Instagram https://www.instagram.com/sahebacademy/ Please Like, Subscribe and Share this video on your social media account. #Accountancy #FinancialAccounting #Class11