- 319
- 702 185
The Accounting Prof
เข้าร่วมเมื่อ 2 ก.พ. 2018
I make videos that help accounting students understand the basics of financial accounting, including the recording of economic transactions, the reporting of financial activity on financial statements, and the analysis of financial statement information.
Cash Receipt and Disbursement Processes
This video gives students a high level introduction into the cash receipt and cash disbursement processes of companies.
มุมมอง: 2 966
วีดีโอ
Careers in Accounting
มุมมอง 1.8K2 ปีที่แล้ว
This video introduces students to the growing demand for accountants and career opportunities awaiting them.
Data Analytics (Receivables)
มุมมอง 1.2K2 ปีที่แล้ว
This video introduces students to the ways data analytics can be used to help companies manage their receivables.
Data Analytics (Inventory)
มุมมอง 1.6K2 ปีที่แล้ว
This video introduces students to the ways data analytics can be used to help companies manage their inventory.
Data Analytics (Credit Sales)
มุมมอง 4852 ปีที่แล้ว
This video introduces students to the ways data analytics can be used to help companies manage credit sales.
Data Analytics (Overview)
มุมมอง 5722 ปีที่แล้ว
This video provides an overview of the different types of data analytics and how they pertain to accounting.
Excel Tutorial: Protecting and Hiding Sheets for Private Information Distribution
มุมมอง 6892 ปีที่แล้ว
In this video, I show how to use Excel's workbook/sheet hiding and protection capabilities to safely distribute private information to a group. My example describes disseminating grades to students, but it could be applied to a variety of information distribution scenarios.
Estimating Bad Debts (Percent of Credit Sales)
มุมมอง 3K2 ปีที่แล้ว
This video shows students how companies estimate their bad debts using the Percent of Credit Sales method of estimation.
Cash Flows From Operating Activities (Direct Method)
มุมมอง 3.8K2 ปีที่แล้ว
This video walks students through preparing the Operating Cash Flows section of the Direct Method Statement of Cash Flows.
Stick Figure Accounting: Inventory Purchase Discounts
มุมมอง 4402 ปีที่แล้ว
This video explains the concept of recording Inventory Purchase Discounts in a Perpetual Inventory System in an easy-to-understand way using crudely drawn stick figures.
Excel Tutorial: Conditional Formatting in an Indirect Method Statement of Cash Flows
มุมมอง 2.1K2 ปีที่แล้ว
This video shows how Microsoft Excel's conditional formatting tool can be used to automatically color grade a series of numerical values or automatically highlight the largest and smallest values in a range using an Indirect Method Statement of Cash Flows as an example data source.
Statement of Cash Flows Activity
มุมมอง 1.2K2 ปีที่แล้ว
This video discusses the differences between operating, investing, and financing activities of companies from the perspective of their classification on the Statement of Cash Flows.
Unearned Revenue
มุมมอง 1.6K2 ปีที่แล้ว
This video introduces students to the concept of unearned revenue and walks them through accounting for unearned revenue transactions.
Practice Problem PPE-01: Characteristics of Fixed Assets and Depreciation
มุมมอง 6892 ปีที่แล้ว
This video contains a series of practice questions putting students' knowledge of fixed assets and depreciation to the test.
Excel Tutorial: Conditional Formatting in a Balance Sheet
มุมมอง 3K2 ปีที่แล้ว
In this video I demonstrate two ways to use conditional formatting in Microsoft Excel that can be useful to analyzing a balance sheet: 1) visually identifying when assets are in balance with liabilities and shareholders' equity; and 2) coloring scaling an analysis such as the debt-to-asset ratio within a pre-defined range of acceptability.
Excel Tutorial: Conditional Formatting in a Multi-Step Income Statement
มุมมอง 2.3K2 ปีที่แล้ว
Excel Tutorial: Conditional Formatting in a Multi-Step Income Statement
Excel Tutorial: Conditional Formatting in a Single Step Income Statement
มุมมอง 7K2 ปีที่แล้ว
Excel Tutorial: Conditional Formatting in a Single Step Income Statement
Stick Figure Accounting: Inventory Cost Flows
มุมมอง 2882 ปีที่แล้ว
Stick Figure Accounting: Inventory Cost Flows
Practice Problem CASH-04: Mastering the Bank Reconciliation
มุมมอง 7562 ปีที่แล้ว
Practice Problem CASH-04: Mastering the Bank Reconciliation
Emerging Technology in Business and Accounting
มุมมอง 6243 ปีที่แล้ว
Emerging Technology in Business and Accounting
Practice Problem TECH-01: Emerging Technology
มุมมอง 17K3 ปีที่แล้ว
Practice Problem TECH-01: Emerging Technology
Practice Problem TRANS-03: Types of Economic Transactions
มุมมอง 2243 ปีที่แล้ว
Practice Problem TRANS-03: Types of Economic Transactions
Practice Problem SCF-04: Mastering the Indirect Method Statement of Cash Flows
มุมมอง 16K3 ปีที่แล้ว
Practice Problem SCF-04: Mastering the Indirect Method Statement of Cash Flows
Practice Problem SCF-03: Preparing the Indirect Method Statement of Cash Flows
มุมมอง 1.4K3 ปีที่แล้ว
Practice Problem SCF-03: Preparing the Indirect Method Statement of Cash Flows
Practice Problem SCF-02: Significant Non-Cash Activities
มุมมอง 2533 ปีที่แล้ว
Practice Problem SCF-02: Significant Non-Cash Activities
Practice Problem SCF-01: Elements of the Indirect Method Statement of Cash Flows
มุมมอง 2673 ปีที่แล้ว
Practice Problem SCF-01: Elements of the Indirect Method Statement of Cash Flows
Cash Flows From Investing and Financing Activities
มุมมอง 4.8K3 ปีที่แล้ว
Cash Flows From Investing and Financing Activities
Cash Flows From Operating Activities (Indirect Method)
มุมมอง 6K3 ปีที่แล้ว
Cash Flows From Operating Activities (Indirect Method)
Well explained. I would like to more problems related to cash flow.
Hello, great video. Question. So if you cannot resell the return due to damage or legal issues (like food), is there way to track returned non-resellable inventory? And if we have to create an account called something like NonResellable_Inventory we'd have to debit that but then we'd have to credit something and we cannot credit GOGS because as you stated, we still need to record that cost of inventory to us. So what do we credit and how to we clear those accounts at the end of the period? Thanks!!!
Hi there! You can certainly track these types of items. The question is whether you want to track them within the accounting system, creating the need for additional accounts as you’ve suggested, or outside of the accounting system, in which case you could simply leave the expense of these goods in COGS. If you do want to track them in the accounting system, you would debit a new account (such as NonResaleInv) and credit COGS (remember, the cost of these is already in COGS due to the initial sale). To clear the NonResaleInv account at end of period, you would either transfer it back to COGS, or if something excessive, perhaps transfer it to an “Abnormal Loss” or similar expense account. Hope this helps!
Thank you for this presentation. I needed a quick recap before a job interview and this was very helpful.
Sir you explained very well. But in operating expenses you also had to post some balances of selling and distribution expenses.... That is so well.
☄️
You did great job,thanks alot
Thank you so much for this video. It was very helpful and you explained this better than my professor and my tutor. My exam is today so I'm hoping I do well!
can u also zoom in or zoom out the screen?
Yes, pinch to zoom works like normal!
Very well explained. Thank you!
Thank you so much!
well explained, thank you
Very well explained. Thank you!
Very well explained. Thank you!
Your videos are very helpful and thorough. Often professors make assumptions as to what we already know. I would rather walk through things I might know to get to the parts that I don't.
i dont understand
Wow comments didnt lie thank youuu
Great stuff. I needed this.
Love this. Please keep up the good work!
Thank you, I need it this for my Accounting 2 class, so what hapens if reconciliation was done. What hapens wen reversing A/R, Allowance?
Hi, thank you for the contents, it is very helpful. Could I ask a question? I am not so sure I understand the option E. As the good is still in transit with FOB, doesn't it mean the goods should still legally belong to the seller and doesn't it mean the products still should belong to Goods Flyer Corp? Thank you!
Hi there! Those goods are in transit with FOB “Shipping Point” which means the legal title changes from seller to buyer upon shipping. Arrival at destination isn’t relevant under that type of agreement.
@@TheAccountingProf thank you!
Love from UNSW❤
very useful video thank you💕💕💕💕
best acct video i hv! save my life fr ❤
Thank you sir . Im from indai🎉❤
I have a question about the bad debt expense that we have created for 1000. if the amount of 50 is already collected, why there is no impact to bad debts expense since this is no more expense to us as we have already collected that amount. please explain.
Hi there! The bad debt estimate of $1,000 is based on the entire $10,000 A/R balance. The implication is that, of that balance, $9,000 will be collected and $1,000 won’t. The $50 that gets recovered counts toward the $9,000 you expected to be collected. Meanwhile, as long as at least $1,000 of the A/R remains outstanding (unpaid), there is still the possibility that original $1,000 estimated bad debt will come true, which is why we don’t reverse it. (Note: In the next period, the bad debt allowance will get adjusted again based on the new A/R balance, and it is possible at that point that some bad debt expense will get reversed).
@@TheAccountingProf.. okay.. thank you very much for the response. about the note you mentioned at the end of the response.. do you mean.... if the $ 1000 we estimated in previous period.. by any change if that gets collected(or part of it.. lets says $400) in next period... we should reverse the balance from bad debts expense for $ 400 right?
@@rahulkumarsitap1536 That’s the idea, though it wouldn’t be that exact in practice. You are going to make new A/R sales, make new collections, etc. during the next period, so the new A/R balance, including old and new amounts, will be evaluated as one at the end of the next period, and the Allowance adjusted accordingly.
@@TheAccountingProf okay great... thanks for clarification... very much appreciated
Prof. I like your style of teaching, since I`m from the old school, I followed your style and now able upgrade my accounting skills.
Very good vid!
very helpful video
great one. i have learnt the 3/15 rule
Very nice ❤❤
THANK YOU SO MUCH THIS WAS SO CLEAR AND WELL EXPLAINED
Excellent video. Thanks. Im saving this video
Nice. Please share questions of CPA exam modules
Thanks a lot. Very helpful.
Thanks it's awesome at least now I can do an income statement on excel.
Thank you so much for this! 🙌❤️
I thank you very much!
I love your videos so much
Great
For the first example, could I also debit dividends declared instead of retained earnings?
Hi there! Yes, there are alternate ways of recording this where you use a temporary account in the first entry (e.g., dividends declared or cash dividends), but then later on you must “close” that account to Retained Earnings, usually as part of the period-end closing process.
I was impressed by how thoroughly you explained the intricacies of EPS. Thank you, Prof!
Thanks this was very clear and straight to the point
Excellent explanation. Thank you!
Thanks for the amazing explanation
best video on this topic on TH-cam by a long shot, you should be at a million views. Every accounting student needs this!
VERY VERY USEFULL TO ME, THANKS
Finally a honest video showing how the financial statements are impacted and the trade-off which is inevitable - this gets so overlooked. Thanks!
7:44 Hey, 200 is konw to be uncollectible, so 800 is back to AR correct? I am confused.
Hi there, the 800 will remain in A/R until known to be uncollectible (like the 200), and the company will maintain an 800 Allowance for as long as it continues to believe the 800 won’t be collected. Hope this helps!
Wow, well explained ✌️✌️ thank you so much 🙌🙌
i will try not to mix assignment of responsibilities with segregation of duties