Thank you for teaching me the things my college professors neglect. Too much theory in uni sometimes that practical examples are often overlooked. Thank you again!
The Doctor has spoken, you never give us half-backed doughnuts really. i am personally loving the unpacking of the Series, Doc, keep it up.......Africa is still logged-in. Can't be sweeter than this under these Lockdowns, one is tempted to substitute indoor games with this series really. Regards.
I studied in Australia but not at the uni you taught. I wish I knew you earlier. Now that I work for the one of the big 4, I come back to review everything and your videos are so helpful. Thanks so much! I love you like you love to audit! I love auditing too.
Congratulations Chea on getting a big 4 job - not east - well done!!! I’ve never been to Cambodia but it is on my wish list for when the kids are a bit bigger ❤️
“yes, there is almost 17 minutes of content around design appropriate substantive procedures” thought that was funny 😁 Thank you for making this series Dr. Amanda!
Thank you Amanda for great lectures 1 question = for the assertion of accuracy on the NCA an we calculate the carrying amount of asset by charging the depreciation in accordance to the policy of entity and cross check the such calculated amount with amount shown in balance of NCA
like any physician of medicine you just dissect accounts to review what happened when performed with accounting of property plant and equipment and hence thank you for sharing your best knowledge and skills!!!!
Hey thank you for all videos, real value addition.... Pls also add on more procedures in cash and bank, shares capital, payable and other primary ones.
Thanks Amanda. This is a really good video. Do we need to take into account how the PPE is capitalised from WIP? Policy on what amount the asset will get capitalised e.g >$5000? who's approving them... etc. I'm just speculating.
Hi Kelvin - so you mean PPE they construct themselves? Yes - this should be taken into account, but you’re right in that there are thresholds - it will depend on the size of the company (materiality 😉). At my university, we don’t put asset tags on anything smaller than $2000
I would also look into comparing the approval date, invoice date (purchase date) and In-Service date. Did all of these events transpire in chronological order.
Hi Amanda, I have a question. Can we do a virtual tour of a turbine to virtually verify the existence of PPE ? and is there any reference to IASs or ISAs that we can use virtually verify the PPE through a video tour ? (The PPE is only 2 items and are located outside the country which has no firm's office) Thanks
I am not sure if there are any ISAs that speaks to virtual verification of PPE. However that portion of audit can be outsourced to another independent firm who is available to physically verify the PPE in question. The client must be aware of such arrangement tho.
Hi Amenda, love your videos very detailed, I do have a question which I'm abit curious about though. When auditing fixed Asset, Asset with no trace of documentation but is on the balance sheet can also be labelled as Ghost Assets and if possible can also be written off from the book? Very curious to know. Thank-you.
We need to make sure we identify any ghost assets and remove them. The accounting needs to be done very carefully - we can't write them off as we would do assets that are sold. They need to be essentially backed out of the system entirely. Some more good info www.accountingtoday.com/opinion/ghost-assets-can-haunt-companies-for-years
Hello Sir. May I ask, how to is LAND disclose in FS or how it is recognize, is it Investment property or PPE? where the land will only be use for leasing or rental.
Hi Amanda, thank you for this amazing video. By the way, do you have topics on Auditing Construction company? Or topics on Construction in Progress or Percentage of Completion? Thank you
Hello! this video is very interesting, thank you so much! Could you make videos about assessment of internal control, please? Could you suggest me a free book about financial auditing, please?
Thank you so much for your accounting videos Ms. Amanda 😊 I really like how you explain. Also, I'd like to share this one pleasee..."Believe in the Lord Jesus, and you will be saved-you and your household.”" -Acts 16:31 Let us repent of our sins and trust in Jesus Christ ❤ Thank you and God bless!! 💖
Make sure you subscribe to the channel to get all the updates 😊 And don’t forget to check out my free study guide amandalovestoaudit.com/learning-resources/audit-study-guide/
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this is so dope. i dont even waist time going to the class anymore. i just sit and watch videos. from south africa. we appreciate you
Bliss - please still go to class - you never know when they might give you advice about exams or assessments ☺️
Thank you for teaching me the things my college professors neglect. Too much theory in uni sometimes that practical examples are often overlooked. Thank you again!
Any time ☺️. We have so few weeks in a uni semester to explain everything, we often only cover the basics.
My name is Nomzz studying to be a charted accountant all the way from South Africa; this was so helpful!
You’re welcome Nomzz! Good luck 😊
I am an intern in audit firm and am learning alot from your channel
The Doctor has spoken, you never give us half-backed doughnuts really. i am personally loving the unpacking of the Series, Doc, keep it up.......Africa is still logged-in. Can't be sweeter than this under these Lockdowns, one is tempted to substitute indoor games with this series really. Regards.
Thank you so much for your kind words Bvumayi 🙏 stay safe and keep up the study!
I studied in Australia but not at the uni you taught. I wish I knew you earlier. Now that I work for the one of the big 4, I come back to review everything and your videos are so helpful. Thanks so much! I love you like you love to audit! I love auditing too.
Oh I’m from Cambodia. 🥰 we all love u
Congratulations Chea on getting a big 4 job - not east - well done!!!
I’ve never been to Cambodia but it is on my wish list for when the kids are a bit bigger ❤️
Hi. I also work for the big 4. It's great having you here
“yes, there is almost 17 minutes of content around design appropriate substantive procedures” thought that was funny 😁 Thank you for making this series Dr. Amanda!
Very refreshing. Jumping back in to compliance after being away for nearly 5yrs. Thank you for your hard work!!!! Such a blessing!
You are so welcome!
I am forever grateful to find your channel. Very well explained and it helped to improve my understanding on this topic. Thank You, Dr Amanda!
You're so welcome!
Thank you very much for sharing Real life auditing methodology of Big 4.. Love from India ❤
You’re welcome Mukul ☺️
Thank you Amanda for great lectures 1 question = for the assertion of accuracy on the NCA an we calculate the carrying amount of asset by charging the depreciation in accordance to the policy of entity and cross check the such calculated amount with amount shown in balance of NCA
And this can also fulfill the assertion of valuation????
like any physician of medicine you just dissect accounts to review what happened when performed with accounting of property plant and equipment and hence thank you for sharing your best knowledge and skills!!!!
Awww thank you for such a lovely comment 🙏❤️
You are amazing!! Thank you for such great and detailed explanation
Hey thank you for all videos, real value addition....
Pls also add on more procedures in cash and bank, shares capital, payable and other primary ones.
Thanks Abinisha - plenty more in the series coming ☺️
Thank you so much. All your videos have been extremely helpful
Well explained. It’s a really useful session
Great video Amanda share also how to audit biological assets such as crops, pecan and bearal plants
Hi Simon - a great area and such a tricky one to audit - hopefully I’ll get to it!
Thanks very much Amanda 🎉
Thanks for the video Amanda
Done watching this video, very informative lecture.
Done watching. Thank you for this very informative video.
Very informative.. Thank you from south Africa
You’re very welcome!
Amanda thank you to share this topic
Awesome!! I've loved this video. Congratulations!!
Thank you! 🙏❤️
thanks amanda lm really enriched with your explanations
You’re welcome ☺️
A real good quality content thank you Amanda (y)
Thank you so much Adel!
My nameis Thabile studying Taxation, this video makes it easy to understand, I was struggling thank you
My Name is Henry studying ACCA in Sierra Leone. Thanks so much
Good luck Henry!
Thank you for your videos 😊
You are very welcome!
thank you this is so helpful , from Egypt
Thank you 🙏 ☺️
Very clear
Glad it helped 😊
Thanks Amanda. This is a really good video. Do we need to take into account how the PPE is capitalised from WIP? Policy on what amount the asset will get capitalised e.g >$5000? who's approving them... etc.
I'm just speculating.
Hi Kelvin - so you mean PPE they construct themselves?
Yes - this should be taken into account, but you’re right in that there are thresholds - it will depend on the size of the company (materiality 😉). At my university, we don’t put asset tags on anything smaller than $2000
Done watching thankyou for this informative video lecture
Thank you very much Amanda 🇿🇦🇿🇦🇿🇦
You’re welcome Gavin!
Thank you very much these videos have been helpful 🙂
You are welcome Mahlatsi! Hope you are staying safe and well 😊
Hi Amanda, great video 😁 are you going to be doing one for Investment Property?
Hi Matthew - it wasn't on my list - but it is now! Do you mean for entities that are commercial property developers and lessors?
AmandaLovesToAudit yes 😁
Done watching.
I would also look into comparing the approval date, invoice date (purchase date) and In-Service date. Did all of these events transpire in chronological order.
Hi Amanda, I have a question. Can we do a virtual tour of a turbine to virtually verify the existence of PPE ? and is there any reference to IASs or ISAs that we can use virtually verify the PPE through a video tour ? (The PPE is only 2 items and are located outside the country which has no firm's office)
Thanks
I am not sure if there are any ISAs that speaks to virtual verification of PPE. However that portion of audit can be outsourced to another independent firm who is available to physically verify the PPE in question. The client must be aware of such arrangement tho.
Thankyou so much!!!
Well explained
Done watching this vid sir, thank u po.
Hi Amanda, do you happen to have any content that covers Impairements?
Hi Amenda, love your videos very detailed, I do have a question which I'm abit curious about though. When auditing fixed Asset, Asset with no trace of documentation but is on the balance sheet can also be labelled as Ghost Assets and if possible can also be written off from the book? Very curious to know.
Thank-you.
We need to make sure we identify any ghost assets and remove them. The accounting needs to be done very carefully - we can't write them off as we would do assets that are sold. They need to be essentially backed out of the system entirely.
Some more good info
www.accountingtoday.com/opinion/ghost-assets-can-haunt-companies-for-years
@@amandalovestoaudit thankyou. Very much appreciated.
Kind regards.
It would b nice if the video is included with accounting aspects also... .... anyway as usual I enjoyed the video 😍
Hi Rohaila ☺️ that would make the video too long 😉. Check out IFRS Box or Mastering IFRS on TH-cam for detailed content 😊
Try this for Depreciation - th-cam.com/video/jlyVmehtRuI/w-d-xo.html
highly appreciated
You're very welcome Tonderai 😊
Hello Sir. May I ask, how to is LAND disclose in FS or how it is recognize, is it Investment property or PPE? where the land will only be use for leasing or rental.
I mean Ma'am
I would like to see how you audit going concern and related parties
Hey - the only thing I have is videos that go through the standard requirements - but your request has been added to my list!
Done watching❤️
You are the besttttt❤️❤️❤️❤️
Thank you KB 🙏🙏
Hi Amanda, thank you for this amazing video. By the way, do you have topics on Auditing Construction company? Or topics on Construction in Progress or Percentage of Completion? Thank you
Unfortunately not - but the key issues will focus on the key accounting issues - occurrence, accuracy
Hello! this video is very interesting, thank you so much!
Could you make videos about assessment of internal control, please?
Could you suggest me a free book about financial auditing, please?
Hi Hasina - thanks for your suggestion ☺️. For excellent free accounting textbooks - check out Open Stax - openstax.org/subjects/business
@@amandalovestoaudit Thank you so much for you help!
Thanks
If you dont do a thorough completeness test, how do you answer the client when they found that some PPE were lost or stolen?
❤
Thumbs up...100%
Thank you 🙏 ☺️
Thank you so much for your accounting videos Ms. Amanda 😊 I really like how you explain. Also, I'd like to share this one pleasee..."Believe in the Lord Jesus, and you will be saved-you and your household.”" -Acts 16:31 Let us repent of our sins and trust in Jesus Christ ❤ Thank you and God bless!! 💖
haidil aiman
Please add me to your students list. Thanks.
Make sure you subscribe to the channel to get all the updates 😊
And don’t forget to check out my free study guide
amandalovestoaudit.com/learning-resources/audit-study-guide/
🇰🇷😀🤓🤓
Hello Dr I thought you we going to touch on issues of revaluation surplus of PPE
Thanks
You’re welcome!
Done watching❤️