Tutorial 6 on Financial Accounting provides an overview of revenue and expenses. In this video, we will examine the expanded accounting equation that incorporates the effects of profit and loss statements- i.e. the income and expense. The earlies videos covered concepts on assets, liabilities and owners equity. This video also covers cost classifications as per financial accounting, cash flow statements and cost accounting, concept of operating and non-operating expenses, topline and bottom line nomenclature and types of costs fix vs variable.