Hallo, I'm Japanese. I am interested in studying for the CPA exam. Your videos are very interesting and helpful. I have a Japanese National Accounting Certification Level 2, so I have some knowledge of accounting. Although I don't understand English very well at the moment, I am studying with a dictionary and find it quite easy to understand because the accounting standards are similar to those in Japan. Your videos are very easy to understand, so I plan to study for about 2 hours a day, watching about one video per day. Thank you for providing these videos.
Yes, sorry about that! We identified that awhile ago and fixed in the course but opted not to upload a new video and TH-cam doesn’t allow us to add a revised version.
@@universalcpareview Very good explanation. I was looking for first Direct method then indirect. What you got in there is only Indirect. About the error at time 18:27, you can correct any mistake in TH-cam, or you can do it again which is 37 minutes. Thank you.
A question will identify on the CPA Exam the depreciation method to use if that is a necessary part of the calculation. However, it is unlikely that they would use anything other than straight-line for statement of cash flow purposes.
For the prepaid expenses example. Wouldn't a decrease in prepaid expenses, means there would be less cash going out, and in turn increase the net cash flows?
It goes like this.. 1st Prepaid expenses a/c Dr. 5000 To Cash a/c Cr. 5000 2nd Expenses a/c Dr.5000 To Prepaid expenses a/c 5000 Finally what we have is Expenses a/c 5000 To cash a/c 5000 Prepaid expenses has expired. Cash is going out. Cash Expense is prepaid or not cash is going out.And it is happening within accounting year.
Hallo, I'm Japanese. I am interested in studying for the CPA exam. Your videos are very interesting and helpful. I have a Japanese National Accounting Certification Level 2, so I have some knowledge of accounting. Although I don't understand English very well at the moment, I am studying with a dictionary and find it quite easy to understand because the accounting standards are similar to those in Japan. Your videos are very easy to understand, so I plan to study for about 2 hours a day, watching about one video per day. Thank you for providing these videos.
Is there an error at 18:27? Narrator says proceeds will be reported in the investing section but the text on the left side says financing section.
Yes, sorry about that! We identified that awhile ago and fixed in the course but opted not to upload a new video and TH-cam doesn’t allow us to add a revised version.
@@universalcpareview Very good explanation. I was looking for first Direct method then indirect. What you got in there is only Indirect. About the error at time 18:27, you can correct any mistake in TH-cam, or you can do it again which is 37 minutes. Thank you.
21:23 Do we just assume the depreciation of five forklifts for a year with a straight line method?
Yes unless otherwise specified in a question.
A question will identify on the CPA Exam the depreciation method to use if that is a necessary part of the calculation. However, it is unlikely that they would use anything other than straight-line for statement of cash flow purposes.
This is an awesome video, than you!!
You are so welcome! We are here to support you in your cpa journey!
Excellent video :) Thanks
Excellent Video, Concept is very clear to understand. Thanks
80k sale proceeds to be reported under Investing activities I believe.. very good explanations, great job.
yes your statement is correct, thus the statement in the presentation is wrong, NOT in financing section.
For the prepaid expenses example. Wouldn't a decrease in prepaid expenses, means there would be less cash going out, and in turn increase the net cash flows?
PREpaid! You pay cash prior to things happening, meaning cash goes down.
It goes like this..
1st Prepaid expenses a/c Dr. 5000
To Cash a/c Cr. 5000
2nd Expenses a/c Dr.5000
To Prepaid expenses a/c 5000
Finally what we have is
Expenses a/c 5000
To cash a/c 5000
Prepaid expenses has expired.
Cash is going out.
Cash Expense is prepaid or not cash is going out.And it is happening within accounting year.
Good job 👏
Thank you!
Beautiful
Wait can i just watch all these videos and most likely pass the far part of the exam
increase in assets = decrease in cash and vise versa, increase in liabilities= increase in cash and vise versa.