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ACCOUNTING CONCEPTS | DOUBLE ENTRY SYSTEM PART 1
 
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To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to explain the Double Entry System of recording transactions in Accounts and how a transaction can be decoded into 2 aspects which are the debit and the credit. LINK TO PART 2 https://youtu.be/9Xf2ecaN33A Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 54528 The Commerce Tutor
Accounting Concepts and Principles: Accounting Basics and Fundamentals
 
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This lesson will teach you 7 Accounting Concepts and Principles that underly all accounting studies and practice. To add relevance, reliability and comparability throughout the behaviour of all accountants globally, accountants follow these 7 accounting concepts in all their activities. This lesson should be the first topic you study in your Introduction to Accounting knowledge journey as it lays the fundamentals for all future accounting study. You will learn about: * The Entity Concept 2:07 * The Accounting Period Concept 5:08 * The Cost Principle 8:02 * The Matching Concept 11:34 * The Profit Recognition Principle 13:49 * The Conservatism Principle 16:50 * The Going Concern Principle 20:15 Each concept is explained both with the theory and an example or two. If you apply all these concepts & principles throughout your activity as a student, bookkeeper or accountant then you will be a successful accounting professional. So whether you are a accounting student, bookkeeper or MBA candidate with a finance subject, you should find value in this lesson. You can also get in touch anytime if you need any further help or clarification beyond the lesson. Just check out the contact details in our YouTube Channel. --------------------- Thumbnail Portrait: Photo by Bruce Mars from Pexels --------------------- This video was brought to you by AccoFina. Subscribe to the Channel: https://goo.gl/84Sfeg Or just check out the Channel Page: https://goo.gl/yTj9Bs Here’s AccoFina’s Most Popular YouTube Video: https://goo.gl/Jbv685 And here’s AccoFina’s Latest YouTube Upload: https://goo.gl/wDM83Y AccoFina Website, Product Pages and Social Networking: 1) Website (includes Free Spreadsheets, Free Books and Free Calculators) http://www.accofina.com 2) Amazon Author Page: http://www.amazon.com/author/axeltracy 3) Udemy Instructor Page https://www.udemy.com/u/axeltracy/ 4) Facebook http://www.facebook.com/accofinaDotCom 5) Twitter http://www.twitter.com/accofina 6) Google+ http://plus.google.com/+accofina
Views: 153084 AccoFina
What is Double-Entry System | Accounting | MBA in Pills | 4wMBA
 
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As any other language, the accounting system has its own. Indeed, in accounting in order for you to record a transaction you have to use the double-entry system. Double entry means that each single transaction needs to be recorded twice, on the left side if debited and on the right side if credited. Usually, when you think of debit or credit in real life is different compared to debit or credit in accounting. In fact, debit does not mean that you have a debt to be paid back; neither credit means that you have money to receive. Check out our website at www.fourweekmba.com Subscribe to our youtube channel, to stay up to date with our content in the future.
Views: 45699 The Four-Week MBA
Double-entry Accounting and Bookkeeping principles explained in simple terms.
 
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Double-entry accounting is really very simple provided you follow the rules in the video. Learn more and take the 12 week online accounting course please visit: https://accountingforeveryone.com Everything starts with a Source Document. That is usually an invoice for something you have sold or a receipt for something you have bought. Each Source Document is copied into your double-entry system by creating Transactions. A Source Document always contains at least one complete transaction, and depending on your accounting system sometimes more. A double-entry transaction consists of a minimum of two Entries. That is, each transaction you create must have at least two entries. Each entry contains either a Debit or a Credit. Debits and Credits are amounts of money. For a Transaction to be true to the double-entry principle, two rules must be obeyed: 1. The entries involved must contain at least one Debit and at least one Credit. 2. The value of all the Debits must equal the value of all the Credits. Each entry must consist of a minimum of four pieces of data as follows: 1. Date 2. Reference (so it can be identified with a source document) 3. Amount (known as a Debit or a Credit) 4. Account (whose balance will be increased or decreased by the amount depending on whether it is a Debit or a Credit) Every transaction tracks an amount of money from one account to one or more other accounts. As long as the Debit amounts equal the Credit amounts, then we know that all the money has been accounted for. The idea that we are doubling the amount of data by making two entries is a myth. The two (or more) entries merely record the flow of money from one account to another. That is its sole purpose. It is called Double-entry because two entries are the minimum required to record the two accounts involved in every transaction. For example, buying a computer for your business involves your Bank and your Equipment accounts. Once the transaction has been entered, a look at your books will show how much you have left in your bank and how much you have spent on equipment. If you don't know these things, it is unlikely your business will stay profitable as you will have no idea what is going on. This is why double-entry accounting is used universally around the world and has been in existence for many thousands of years. To find out more about double-entry accounting and bookkeeping please visit https://accountingforeveryone.com Please also subscribe to this channel to get further simple updates to double-entry accounting so you can further your career or get your business in shape.
Views: 47154 Quentin Pain
Merchandising Activities(Perpetual inventory System) Principles of Accounting. Lecture -2 in Bungla
 
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Merchandising Activities(Periodic inventory System) FINANCIAL ACCOUNTING or Principles of Accounting. Lecture -1 in Bungla Accounting for Merchandising Activities Basic accounting for BBA BBS And MBA. This video is contributed by Md Mostafizur Rahman. Lecturer Govt. Janata College, Please Like, Comment and Share the Video among your friends and family members For latest updates subscribe My channel . ------------------------------------------------------------------------------------ Financial Accounting Accounting for Merchandising Activities. Inventory Storing System Periodic Inventory System Perpetual Inventory System Rules: Transactions. Periodic inventory system (Gross Method) Perpetual inventory System (Gross Cash) 1. For merchandise purchases in cash. Purchases------Dr Cash---------Cr Merchandise inventory---Dr Cash--------------Cr 2. For Merchandise Purchase on Account. Purchase -------------Dr Accounts Payable-- Cr Merchandise inventory---Dr Accounts payable----------Cr 3. For sales of merchandise in cash. Cash-----Dr Sales-Cr a. Cash----------------------Dr Sales-------------------Cr b. Cost of goods sold------Dr Merchandise inventory---Cr 4. For sales of merchandise on accounts. Accounts receivable-Dr Sales-Cr a. accounts receivable-----Dr Sales-------------------Cr b. Cost of goods sold-----Dr Merchandise inventory --Cr শর্ত খরচ বহন কারী ROB Shipping point ক্রেতা FOB Destination বিক্রেতা Joyanta Distribution Company completed the following merchandising transactions in the month of June at the beginning of June, the ledger of Joyanta showed cash of tk.20, 000 and capital of tk.20, 000. June 1 Purchased merchandise on account from rapid supplies company tk.7, 000, terms 1/10, n/30. June 3 sold merchandise on account tk.6, 000 fob destination, terms 1/10, n/30. The cost of the merchandise sold was tk.5, 000. June 4 Paid Tk.300 frights on June 3 sales. June 5 received credit from rapid supply co. for merchandise returned tk.600 June 10 paid rapid supplies co. in full, less discount. June 12 received collection in full less discounts from customers billed on June 3. June 13 purchased merchandise for cash tk.3, 800. June 15. Received refund from suppliers on cash purchase of June 13. tk.600. Shima company’s chart of accounts includes the following : no.101 for cash, no 112 for accounts receivable, no 120 for merchandise inventory, no 201 for accounts payable, no 301 capital, no 401 for sales, no. 412 for sales returns and allowance, no 414 for sales discount, no 505 for cost of good sold and no 644 for fright out. Requirement: (a) Journalize the transactions using perpetual inventory system. Joyanta Distribution Company general journal under purpitual inventory system for the ended jun31. date Accounts title ref Debit tk Credit tk 1. M/I Accounts payable 120 201 7000 7000 3. A/R sales 112 401 6000 6000 Cost of goods sold M/I 505 120 5000 5000 4. Fright out cash 644 101 300 300 5. A/P M/I 201 120 600 600 10. A/P M/I CASH 201 120 101 6400 64 6336 12. CASH DISCOUNT A/R 101 112 5940 60 6000 13. M/I CASH 101 3800 3800 15 CASH M/I 101 120 600 600 --------------------------------------------------------------------- You can see my other videos... https://www.youtube.com/watch?v=8JZoTL6aIaI&t=110s https://www.youtube.com/watch?v=xsjtANoF8X8&t=8s https://www.youtube.com/watch?v=h-XpBTO-_9Q&t=8s Accounting Equation Part-2 (FINANCIAL ACCOUNTING) BANGLA Tutorial https://www.youtube.com/watch?v=KhSHVAfJltk leverage Part-1 Financial Management. https://www.youtube.com/watch?v=TyLkPSh6QYg&t=279s Set (সেট) Business Application, Lecturer-1 [ Business Mathematics] https://www.youtube.com/watch?v=2dJkGTBD2QU Set Lecture-6 (Business Mathematics video lecture) https://www.youtube.com/watch?v=SopNALRY9NA Ven Diagtam [ Business Mathematics] https://www.youtube.com/watch?v=gZ213JYi2y0 Time Series Part-1 (Business Statistics) https://www.youtube.com/watch?v=f1wwjs9E_j8 Correlation Part-1 (BUSINESS STATISTICS.) BANGLE. https://www.youtube.com/watch?v=rCenctVfwPM https://www.youtube.com/watch?v=nkRdlZv5BBM&t=59s https://www.youtube.com/watch?v=I1-lPzjfY2A&t=382s https://www.youtube.com/watch?v=xPn5uO2N35Y https://www.youtube.com/watch?v=iBAUzjJLE9Q&t=47s
Views: 2567 Online Education BD
Accounting for Beginners #1 / Debits and Credits / Assets = Liabilities + Equity
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! This is a great Accounting tutorial for the Basics of Accounting for beginners. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners. Help Support the channel by using one of my links. The Amazon link is my favorite, it is the same experience and same price for you, and i get a small kickback for purchasing goods from my amazon link. THANK YOU FOR YOUR SUPPORT. Amazon Affiliate Link: https://amzn.to/2MS2OMg CHANNEL OPTIMIZATION https://www.tubebuddy.com/CPASTRENGTH NEED PAYROLL FOR YOUR COMPANY https://gusto.com/r/SAtdL Accounting For Beginners #1 https://www.youtube.com/watch?v=_pTU4gwmcMs Debits and Credits / Assets = Liabilities + Equity Accounting For Beginners #2 https://www.youtube.com/watch?v=0--jJn6zqfg Basics / Accounting Equation Accounting For Beginners #3 https://www.youtube.com/watch?v=YXFEEr3qHIo Journal Entries / Beginner Tips Accounting For Beginners #4 https://www.youtube.com/watch?v=Yy1DtVND7yo Income Statement / Revenue - Expenses Accounting For Beginners #5 https://www.youtube.com/watch?v=fEtBFB_Nq-o The Balance Sheet / Basic Tutorial Accounting For Beginners #6 https://www.youtube.com/watch?v=XyB3mmzQ_jU Putting an Asset on the Balance Sheet Accounting For Beginners #7 https://www.youtube.com/watch?v=H4udCOiU8i8 Depreciating an Asset / Basics Accounting For Beginners #8 https://www.youtube.com/watch?v=xjXgpnUEgFI Depreciation Expense / Basics Accounting For Beginners #9 https://www.youtube.com/watch?v=QFV6PGIMT5M Accounts Receivable / Basics Accounting For Beginners #10 https://www.youtube.com/watch?v=xQ0u_QocSO4 Accounts Payable / Basics Accounting For Beginners #11 https://www.youtube.com/watch?v=tFA9HD3-7SI Fifo and Lifo Inventory / Basics Accounting For Beginners #12 https://www.youtube.com/watch?v=Z-g1Tnf3oi4 1 Journal Entry With 2 Assets / Basics Accounting For Beginners #13 https://www.youtube.com/watch?v=ds2Y0MxzMBA Accounting Study Guide / Template Accounting For Beginners #14 https://www.youtube.com/watch?v=BU9emeoLKX0 Journal Entry with Cash / Expense Accounting For Beginners #15 https://www.youtube.com/watch?v=kwCtASXQRLU Journal Entry With Cash / Revenue Accounting For Beginners #16 https://www.youtube.com/watch?v=1YrcjlHFBZ0 Debits & Credits / Negative Asset Accounting For Beginners #17 https://www.youtube.com/watch?v=amf1hyptG70&t=25s T-Accounts / Debits and Credits / Accounting 101 Accounting For Beginners #18 https://www.youtube.com/watch?v=18zPzkMbS2c What is a Draw? / Withdraw / Distribution / Dividend / Equity Accounting for Beginners #19 https://www.youtube.com/watch?v=r43j010KT58 Don't Abbreviate / Accounting 101 / Basics Accounting For Beginners #20 https://www.youtube.com/watch?v=yXJVISZA8yU Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses Accounting For Beginners #21 https://www.youtube.com/watch?v=CK9NgJoqJa4 T Account Example / Accounting Tutorial Accounting For Beginners #22 https://www.youtube.com/watch?v=EC93RsvgK9E&t=25s Trial Balance Unadjusted / Accounting Basics Accounting For Beginners #23 https://www.youtube.com/watch?v=-9-LAnE61lw&t=25s Cash in a Bank Account / Checking Account / Basic Accounting Accounting For Beginners #24 https://www.youtube.com/watch?v=aUjVslkn4HI&t=25s Does The Transaction Increase Assets / Accounting Basics Accounting for Beginners #25 https://www.youtube.com/watch?v=zKreBUTJx5E&t=25s Accounts Receivable Example / Accounting 101 / Accounting Basics Accounting For Beginners #26 https://www.youtube.com/watch?v=66YddsOGau0&t=312s Reducing Accounts Receivable / We got Paid / Accounting basics #Accounting #Exercise #CPA #Accounting #Exercise #CPA
Views: 1753791 CPA Strength
Accounting principle in hindi
 
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Plz check my videos on YouTube Share, subscribe and comment
Views: 27939 study with chanchal
Accounting - Inventory and Cost of Goods Sold - Part 1 of 2 - Severson
 
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See the below link for more resources, including a list of all of my videos, practice exercises, Excel templates, and study notes. https://www.dropbox.com/s/09hdhag3zieyt08/Severson%20YouTube%20Videos.xlsx?dl=0 This tutorial is part 1 in a series that covers the topic of accounting for inventory and cost of goods sold. This covers the inventory methods such as First In First Out (FIFO, Last In Last Out (LIFO), Weighted Average, and Specific Identification. It also discusses the topic of Lower of Cost or Market (LCM.) Part 2 is also available on YouTube.
Views: 99278 Christopher Severson
Basic concepts of accounting (தமிழ்)
 
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"Install our android app CARAJACLASSES to view lectures direct in your mobile - https://bit.ly/2S1oPM6 " join my Whatsapp Broadcast / Group to receive daily lectures on similar topics through this Whatsapp direct link https://wa.me/917736022001 by simply messaging YOUTUBE LECTURES Did you liked this video lecture? Then please check out the complete course related to this lecture,available at discounted (10% off ) price with life time validity and certificate of completion. Enrollment Link For Students Outside India: https://bit.ly/2Ld4XRQ Enrollment Link For Students From India: https://www.instamojo.com/caraja/basics-of-accounting/?discount=inyboait4 Our website link : https://www.carajaclasses.com Welcome to this course Basics of Accounting (தமிழ்மொழியில்கணக்கியல்அடிப்படைகள்) This course starts from “What is Accounting”, “Need for Accounting” to various Practical aspects in Accounting. It's just a beginning and more lectures will be added in the coming days. Enjoy lectures for each and every concept in accounting presented in casual language (as we speak tamil at home) and excel based presentation followed by Solved Case Studies Video. New videos will be added over next three months. In this course, you will learn Fundamentals of Accounting, step by step covering the following: Section 1: Introduction to Accounting; Section 2: Book Keeping; Section 3: Accounting – Objectives and Process; Section 4: Accountancy, Accounting and Book Keeping; Section 5: Technical Terms in Accounting Another 22 sections will be added in due course. Course description will be updated as when lectures are added. This course is structured in self paced learning style. Video lectures are used for delivering the course content. Take this course to create strong foundation in fundamentals of accountancy.
Views: 6028 CARAJACLASSES
Expected/Important Accounting Theory Questions with Accounting Principles in Hindi By JOLLY Coaching
 
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Expected theory question of accounting for 11th class. This are the most asked and expected question which have highest probability to asked in the paper of accounting. Though the theory question carry only 10 to 15 marks but these 10 marks are very important to score a good marks, So this video will provide you the most expected questions of accounting. After watching this video you are able to answer these questions if asked in the paper. The questions covered in this video are : 1. Basic accounting Principles 2. Accounts 3. Accounting 4. Book Keeping 5. Book Keeping Vs Accounting 6. GAAP 7. Accounting Standards 8. Basic Accounting Terms 9. Accounting System etc... I hope this video will help you to understand the theory questions. Thanks JOLLY Coaching accounting principles accounting concept accounting conventions accounting principles in hindi accounting in hindi accounting principles in urdu theory questions for accounting expected theory questions of accounting 11th class accounting for 11th class theory in hindi theory questions in hindi accounting theory question in hindi theory of accounts accounting theory theory of accounitng theory concept of accounting going concern principle matching principle conservatism principle separate legal entity economic entity assumption matching concept dual aspect comparability principle basic principle accrual principle materiality principle full disclosure principle all accounting principle generally accepted accounting principle accounting principle in hindi how to theory questions of accounting accounting standards in hindi what is accounting need of accounting reason for doing accountung objective of accounting users of accounting accounting purpose Theory of accounting in hindi accounting yheory question for 11th class theory question in accounting theory question in accounting in hindi theory question of accounting by jolly theory question of accounting by kauserwise theory question of accounting by kauser wise kauserwise kauser wise jolly coaching jolly theory question of accounting by jolly coaching accounting principles class 11 in hindi separate legal entity in hindi
Views: 38983 JOLLY Coaching
ACCOUNTING CONCEPTS | GOLDEN RULES OF ACCOUNTANCY
 
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To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to explain the Traditional Approach to the rules of Debit and Credit which are also called the Golden Rules of Accounting. Please comment and let me know your views and subscribe for more videos. Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 15300 The Commerce Tutor
Basics of Accounting in India: CH2 Modifying Principles
 
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Twitter: @_KrishnaR_ Blogger: goo.gl/fyRYgn
Views: 5906 Krishna R
T-Accounts and Debits & Credits - Ch. 2 Video 1
 
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PLEASE NOTE THAT I HAVE AN ERROR IN THIS VIDEO. The correct video is at: http://youtu.be/U58G2_7fEbo T-accounts and double entry accounting
Views: 379001 mattfisher64
Accounting Conventions | Concepts | LetsTute Accountancy
 
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Checkout our new video on Accounting Conventions In this video we will see what is the difference between accounting principles and accounting conventions. The 4 conventions Materiality, consistency, conservatism and full disclosure are explained with examples. We have attached a PDF where one can get a quick glance of the whole chapter in few minutes. You will understand need and importance of all the accounting principles and conventions. Also, entity concept, going concern concept, money measurement, cost principle, revenue recognition, objective evidence, dual aspect, matching principle, accrual concept, materiality, consistency, conservatism, full disclosure, etc explained in detail. There are objective type questions on accounting principles and conventions. Link:- https://goo.gl/p17wRU Buy entire course on 11th accountancy: https://goo.gl/c7Gq3m https://goo.gl/32UXPp Subscribe Us For More Updates: Link : https://goo.gl/pH6rtu Website : http://www.letstute.com/ To Get Regular Content Updates- Like Us On Facebook : https://www.facebook.com/letstutepage Follow Us On Twitter : https://twitter.com/letstute Add Us On Google+ for updates on our upcoming Videos https://plus.google.com/+Letstute Email us @ [email protected] WhatsApp your Queries on +91 7506363600 Visit our other channels LetsTute - Math / Sciecne / EVS http://bit.ly/1Q85cNP LetsTute Cbse Math https://goo.gl/kMGY4X LetsTute in Hindi https://www.youtube.com/channel/UCz17OJWV27c5FZKKBlLDXEw? Values to Lead (Value Education) http://bit.ly/1poLX8j
Views: 52249 Letstute Accountancy
Basic Accounting in 10 minutes Tutorial
 
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Basic Accounting in 10 minutes Tutorial © 2012 Pavlov Global Publishing
Views: 1475968 Shred 207
Introduction to accounting [Journal- Ledger & Trial balance] simple method(by kauserwise)
 
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Here is the video about Introduction to accounting. *What is journal and how to pass journal entries. *What is Ledger and how to post ledger. *What is Trial balance and how to do trial balance in accounting everything in simple manner. Hope this will help you to get the subject knowledge at the end. Thanks and All the best. ▓▓░───CONTRIBUTION ─░▓▓ If you like this video and wish to support this kauserwise channel, please contribute via, * Paytm a/c : 7401428918 * Western Union / MoneyGram [ Name: Kauser, Country: India & Email: [email protected] ] [Every contribution is encouraging US] Thanks & All the Best!!! ──────────────────── To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research * Statistics Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu For Statistics - https://www.youtube.com/playlist?list=PLabr9RWfBcnoJi5snMQQzDGYmb4ydFpTs
Views: 3003084 Kauser Wise
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) | Meaning and Need
 
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To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to provide a basic idea of what GAAP is and why is it required. Hope this proves useful to anyone who watches it. Please let me know your comments on the video and if you like it please hit the like button. Do not forget to subscribe for more such videos in future. Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 67468 The Commerce Tutor
Lean Accounting Principles, Practices and Tools (Webinar)
 
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In this short webinar we will address: - Lean Accounting principles and how they match with the principles and economics of lean success. - Some primary Lean Accounting including Box Scores, Value Stream Performance Measurement, Value Stream Accounting, and Value Stream Capacity Analysis. - How to use the Box Score to correctly understand and monitor the operational and financial impact of lean improvement.- How to use the Box Score for all regular business decisions such as sales profitability analysis, sourcing, capital decisions, etc. - How to apply lean in the accounting office to eliminate waste, visualize the work, and free up people’s time. - How to implement Lean Accounting in your own company. Presenter: Brian Maskell has been working with lean companies for more than 25 years. As an engineer and an accountant, he brings a unique perspective to the accounting, control, measurement, and decision-making issues of lean companies. Brian is President of BMA Inc. and has worked with the large multi-national companies world-wide; but the majority of his time is spent with small and medium-sized companies striving to become truly lean organizations. Mr. Maskell is a frequent conference speaker, blogger, and podcaster, and the author of 8 books including “Making the Numbers Count”, “Practical lean Accounting, and “The Lean Business Management System.”
Views: 6976 TheAMEConnect
Merchandising Activities(Periodic inventory System) FINANCIAL ACCOUNTING. Lecture -1 in Bungla
 
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Merchandising Activities(Periodic inventory System) FINANCIAL ACCOUNTING or Principles of Accounting. Lecture -1 in Bungla Accounting for Merchandising Activities Basic accounting for BBA BBS And MBA. This video is contributed by Md Mostafizur Rahman. Lecturer Govt. Janata College, Please Like, Comment and Share the Video among your friends and family members For latest updates subscribe My channel . ------------------------------------------------------------------------------------- Financial Accounting Accounting for Merchandising Activities. Inventory Storing System 1. Perpetual Inventory System 2. Perpetual Inventory System Rules: Transactions. Periodic inventory system (Gross Method) Perpetual inventory System (Gross Cash) 1. For merchandise purchases in cash. Purchases------Dr Cash---------Cr Merchandise inventory---Dr Cash--------------Cr 2. For Merchandise Purchase on Account. Purchase -------------Dr Accounts Payable-- Cr Merchandise inventory---Dr Accounts payable----------Cr 3. For sales of merchandise in cash. Cash-----Dr Sales-Cr a. Cash----------------------Dr Sales-------------------Cr b. Cost of goods sold------Dr Merchandise inventory---Cr 4. For sales of merchandise on accounts. Accounts receivable-Dr Sales-Cr a. accounts receivable-----Dr Sales-------------------Cr b. Cost of goods sold-----Dr Merchandise inventory --Cr শর্ত খরচ বহন কারী ROB Shipping point ক্রেতা FOB Destination বিক্রেতা Accounting for Merchandising Activities. Merchandising operations periodic inventory system. Following transactions were experienced by Joyanta Company which records purchases and sales on gross basis periodic inventory system are used: Transactions: 2014. January 1. Purchased merchandise on account for tk.60, 000, terms 2/10, n/60. January 2. Sold merchandise for cash, tk.2, 500. January 4. Customer returned merchandise sold on January 2. For a cash refund. January 11. Paid for merchandise Purchased on January-1. January 13. Purchase merchandise on account for tk.1, 60,000 terms, 2/10, n/60. January 14. Returned part of the janu-13 purchase to the vendor for credit. The returned merchandise had been invoiced at a gross cost of tk.40, 000. January 20. paid for merchandise purchased on jan-13 less returns and discounts. January 23. Sold merchandise on credit for tk.6, 000 terms 1/10, n/60. January 29. Customer paid account for jan-23 sale. ------------------------------------------------------------------ You can see my other videos... https://www.youtube.com/watch?v=xsjtANoF8X8&t=8s https://www.youtube.com/watch?v=h-XpBTO-_9Q&t=8s Accounting Equation Part-2 (FINANCIAL ACCOUNTING) BANGLA Tutorial https://www.youtube.com/watch?v=KhSHVAfJltk leverage Part-1 Financial Management. https://www.youtube.com/watch?v=TyLkPSh6QYg&t=279s Set (সেট) Business Application, Lecturer-1 [ Business Mathematics] https://www.youtube.com/watch?v=2dJkGTBD2QU Set Lecture-6 (Business Mathematics video lecture) https://www.youtube.com/watch?v=SopNALRY9NA Ven Diagtam [ Business Mathematics] https://www.youtube.com/watch?v=gZ213JYi2y0 Time Series Part-1 (Business Statistics) https://www.youtube.com/watch?v=f1wwjs9E_j8 Correlation Part-1 (BUSINESS STATISTICS.) BANGLE. https://www.youtube.com/watch?v=rCenctVfwPM https://www.youtube.com/watch?v=nkRdlZv5BBM&t=59s https://www.youtube.com/watch?v=I1-lPzjfY2A&t=382s https://www.youtube.com/watch?v=xPn5uO2N35Y https://www.youtube.com/watch?v=iBAUzjJLE9Q&t=47s
Views: 3323 Online Education BD
Accounting Concepts | Dr. Shuchi Singhal
 
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An EMPC VMOU Production Dr. Shuchi Singhal Associate Professor ISIM Jaipur Rajasthan
Views: 56471 vmouonline
101 Ethics, profession, and Generally Excepted Accounting Principles-Accounting instructions
 
19:07
Discussion of what ethics is with regard to a profession and how internal controls can be used to reduce the likelihood of fraud. Why Learn Accounting - Financial Accounting / Managerial Accounting https://youtu.be/uaWDB1YdA1k?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Double Entry Accounting System Explained - Accounting Equation https://youtu.be/66e9QbrkE4g?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Cash vs Accrual - Cash Method / Accrual method differenc https://youtu.be/i2O0cexCrqc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Revenue Recognition Principle https://youtu.be/M_pauBGz5Jc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI Double Entry Accounting System Explained - Balance Sheet https://youtu.be/kOItl8E3fNA?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Income Statement Introduction https://youtu.be/1k11H8icQxc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Accounting Objectives - Relevance Reliability Comparability https://youtu.be/mO8tPzFmN8o?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Rules - Accounting Equation https://youtu.be/0vy6W_WTO2I?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Throught Process / Steps - Accounting Equation https://youtu.be/SlTo3EXDuqU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Owner Deposits Cash Transaction Accounting Equation https://youtu.be/lPZoImc88eU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Work Completed for Cash Transaction Accounting Equation https://youtu.be/ll5xIHVdrVs?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 100.110 Pay Employee with Cash Transaction Accounting Equati https://youtu.be/bSa3NuVpkwc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits Normal Balance - Double Entry Accounting Sy https://youtu.be/alSWKuWPlxU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits - One Rule to Rule Them All https://youtu.be/RL3BFjL1eyE?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI
Accounting Concepts & Conventions for Beginners
 
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Dear Students, Accounting Concepts & Conventions are very important basics of Financial Accounting. This topic is quite common in every Commerce & Management courses and also in B.Tech, MCA etc.. Stay Connected for more Commerce & Management topics. Don't forget to subscribe to my channel. Study well & Good Luck.
101 Matching principle - Accounting 101
 
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Matching principle is one of the two most fundamental accrual principles, accrual principles having to do with timing, having to do with when revenue and expenses are recognized. The revenue recognition principle is the accrual principle governing revenue recognition. The matching principle, expense recognition principle, governs the time period that expenses should be recognized. Matching principle can seem more confusing than the revenue recognition principle because revenue recognition is the goal or objective of the business, expense generation not being the goal of the business. The reason for expenses are to help achieve the business goal, helping generate revenue. This is where we often refer to accrual expense recognition as the matching principle, the goal being to match expenses to the same time period they are used to achieve the goal of generating revenue. Expenses do not equal cash outflow but, according to the matching principle, represent assets used or liabilities incurred in order to generate revenue in the same time period. Why Learn Accounting - Financial Accounting / Managerial Accounting https://youtu.be/uaWDB1YdA1k?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Double Entry Accounting System Explained - Accounting Equation https://youtu.be/66e9QbrkE4g?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Cash vs Accrual - Cash Method / Accrual method differenc https://youtu.be/i2O0cexCrqc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Revenue Recognition Principle https://youtu.be/M_pauBGz5Jc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI Double Entry Accounting System Explained - Balance Sheet https://youtu.be/kOItl8E3fNA?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Income Statement Introduction https://youtu.be/1k11H8icQxc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Accounting Objectives - Relevance Reliability Comparability https://youtu.be/mO8tPzFmN8o?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Rules - Accounting Equation https://youtu.be/0vy6W_WTO2I?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Throught Process / Steps - Accounting Equation https://youtu.be/SlTo3EXDuqU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Owner Deposits Cash Transaction Accounting Equation https://youtu.be/lPZoImc88eU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Work Completed for Cash Transaction Accounting Equation https://youtu.be/ll5xIHVdrVs?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 100.110 Pay Employee with Cash Transaction Accounting Equati https://youtu.be/bSa3NuVpkwc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits Normal Balance - Double Entry Accounting Sy https://youtu.be/alSWKuWPlxU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits - One Rule to Rule Them All https://youtu.be/RL3BFjL1eyE?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI
Accounting Concepts and Principles explained in Malayalam
 
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Easy Explanation in Malayalam
Views: 10575 Koshy Thomas
Double Entry Accounting System Explained 101 - Accounting Equation
 
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Double entry accounting system represented with the accounting equation, assets = liabilities + equity. Double entry accounting system can be represented 3 ways. The accounting equation will be an introduction to the double entry accounting system followed by the double entry accounting system being represented with a balance sheet and then the double entry accounting system being represented with debits and credits. For more accounting information and courses see our website. http://accountinginstruction.info/courses/ Related videos https://youtu.be/EPoXvpO8a2Q Why Learn Accounting - Financial Accounting / Managerial Accounting https://youtu.be/uaWDB1YdA1k?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Double Entry Accounting System Explained - Accounting Equation https://youtu.be/66e9QbrkE4g?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Cash vs Accrual - Cash Method / Accrual method differenc https://youtu.be/i2O0cexCrqc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Revenue Recognition Principle https://youtu.be/M_pauBGz5Jc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI Double Entry Accounting System Explained - Balance Sheet https://youtu.be/kOItl8E3fNA?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Income Statement Introduction https://youtu.be/1k11H8icQxc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Accounting Objectives - Relevance Reliability Comparability https://youtu.be/mO8tPzFmN8o?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Rules - Accounting Equation https://youtu.be/0vy6W_WTO2I?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Throught Process / Steps - Accounting Equation https://youtu.be/SlTo3EXDuqU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Owner Deposits Cash Transaction Accounting Equation https://youtu.be/lPZoImc88eU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Work Completed for Cash Transaction Accounting Equation https://youtu.be/ll5xIHVdrVs?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 100.110 Pay Employee with Cash Transaction Accounting Equati https://youtu.be/bSa3NuVpkwc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits Normal Balance - Double Entry Accounting Sy https://youtu.be/alSWKuWPlxU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits - One Rule to Rule Them All https://youtu.be/RL3BFjL1eyE?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI
AC201 Chapter 1 Excel Demo for Principles of Financial Accounting
 
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Creating financial statements using Excel for Chapter 1 of Accounting -Tools for Business Decision Making
Views: 11448 Linda Bell
Double Entry System Part 2 | Accounting Equation | Modern Approach for Rules of Debit and Credit
 
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To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to explain the derivation of the Accounting equation from the double entry principle and also discussed the rules for determining the debit and credit aspect of a transaction as per the modern approach. Link to Part 1 https://youtu.be/BaBcqiLDW8g Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 12866 The Commerce Tutor
Basic Accounting Concepts
 
04:21
Learn the Basic Concepts of Accounting and finance in this video lecture of Basic Accounting Concepts : http://bit.ly/16o0OSy In basic Financial Accounting, certain rules/principles are classified as concepts and conventions. Explained in this video is the introduction and significance of various basic Accounting Concepts. This explanation of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology Join us on Facebook: http://www.facebook.com/welearnindia Read our latest blog at: http://welearnindia.wordpress.com Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLP Tgas : accounting basics, accounting concepts, basic accounting
Accounting Principles 1
 
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Accounting Principles - Credits and Debits
Views: 48884 Abhay Satpute
Accounting concepts(english)| Accounting principles| class 11
 
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In this video iam explaining about concepts of accounting Link for accounting conventions video: https://youtu.be/53AQ3sFbQp0 #accountingconcepts #accountingprinciplesinenglish #principlesofaccounting #basicsofaccounting #accountancyclass11 #class11accounts #introductiontoaccounting #conceptsofaccounting
Financial Accounting - Chapter 5: Accounting for merchandising operations
 
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A video summary of chapter 5 in Perdisco's Financial Accounting 360Textbook. To find out more, visit www.perdisco.com/finacc
Views: 104355 perdiscotv
3.1 Accounting Principles and Concepts (XI Accounts) (Complete Video)
 
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Class - XI Accounts [Accounting Principles and Concepts] For all videos of Class XI Accounts. visit:- myepathshala.com. You can also download all the notes of chapter in pdf format from our website free of cost. http://myepathshala.com/classes/subject/chapter/class-11/accounts
Views: 658 Anurag classes
Cash receipts Journal, Principles of Accounting Bangla Lecture-5
 
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Cash receipts Journal, Basic accounting Bangla Lecture-5 by Lecturer Md. Mostafizur Rahman. Financial Accounting, Principals of accounting of BBA , BBS & MBA. Modifying an accounting system or Special journal. This video is contributed by Md Mostafizur Rahman. Lecturer Govt. Janata College, Please Like, Comment and Share the Video among your friends and family members For latest updates subscribe My channel . ------------------------------------------------------------------------------------------ Financial Accounting. Modifying an accounting system purchases journal sales journal cash received journal cash payment journal Sanjib co. uses special journals and a general journal. The following transaction occurred during January. 2011 January 1 Sajib invested tk.6, 00,000 cash in the business. January 2 sold merchandise to Sayeed for tk63, 000 cash. The cost of the merchandise sold was Tk.42, 000. January 3 purchased merchandise for Tk.82, 000 from Rahim using cheque no.101. January 14 paid Saley to polash Tk.7, 000 by issuing cheque on. 102. January 16 sold merchandise on account to. Daiyan for Tk.9, 000 terms n/30. The cost of the merchandise sold was tk.6, 300. January 22 a Cheque of Tk.90, 000 is received from Idris in full for invoice 101. No discount given. Instructions: Record the transactions for January in the cash receipts journal and the cash payments journal. Sanjib co. cash receipts journal Perpetual Inventory system. Date Accounts Debitor Invoice no ref Others accounts- dr Sales Dis -dr Accounts receivable-cr Sales-cr Cash - Dr Cost of goods sold- dr cash-dr sales-cr cash-dr sales dis-dr a/r-cr cash-dr others accounts-cr ---------------------------------------------------------- You can see my other videos... FIFO Method, Financial Accounting Bangla lecture-2 By Lecturer Md. Mostafizur Rahman https://www.youtube.com/watch?v=w46G5rvFR8o&t=355s https://www.youtube.com/watch?v=xsjtANoF8X8&t=8s https://www.youtube.com/watch?v=h-XpBTO-_9Q&t=8s Accounting Equation Part-2 (FINANCIAL ACCOUNTING) BANGLA Tutorial https://www.youtube.com/watch?v=KhSHVAfJltk leverage Part-1 Financial Management. https://www.youtube.com/watch?v=TyLkPSh6QYg&t=279s Set (সেট) Business Application, Lecturer-1 [ Business Mathematics] https://www.youtube.com/watch?v=2dJkGTBD2QU Set Lecture-6 (Business Mathematics video lecture) https://www.youtube.com/watch?v=SopNALRY9NA Ven Diagtam [ Business Mathematics] https://www.youtube.com/watch?v=gZ213JYi2y0 Time Series Part-1 (Business Statistics) https://www.youtube.com/watch?v=f1wwjs9E_j8 Correlation Part-1 (BUSINESS STATISTICS.) BANGLE. https://www.youtube.com/watch?v=rCenctVfwPM https://www.youtube.com/watch?v=nkRdlZv5BBM&t=59s
Views: 1679 Online Education BD
Accounting  Principles & Concepts | Accounting Concepts | 11th | CA-CPT - By CA Pardeep Jha
 
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Accounting Principles & Concepts, Basic Accountancy by CA. Pardeep Jha, for XIth C.B.S.E. I've explained all the Basic Accounting Concepts and Principles of Double entry Book Keeping. Accrual Concept is discussed in detail in a separate video, Here is the link - https://youtu.be/R2kyJLau5_g This video covers - What is - 1. Prudence /Conservatism Concept 2. Money Measurement Concept 3. Full Disclosure 4. Materiality Concept 5. Cost Concept 6. Matching Concept 7. Realization concept 8. Accrual Concept 9. Consistency Concept 10. Entity Concept 11. Dual Aspect Concept 12. Going Concern Concept 13. Periodicity Concept You can Ask your Queries here or on our Facebook Page www.facebook.com/winningquest Prudence /Conservatism Concept Money Measurement Concept Full Disclosure Materiality Concept Cost Concept Matching Concept Realization concept Accrual Concept Consistency Concept Entity Concept Dual Aspect Concept Going Concern Concept Periodicity Concept What is Prudence /Conservatism Concept What is Money Measurement Concept What is Full Disclosure What is Materiality Concept What is Cost Concept What is Matching Concept What is Realization concept What is Accrual Concept What is Consistency Concept What is Entity Concept What is Dual Aspect Concept What is Going Concern Concept What is Periodicity Concept
Views: 1267 Winning Quest
Generally Accepted Accounting Principles (United States)
 
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Generally Accepted Accounting Principles, USA GAAP or GAAP stands for "generally accepted accounting principles". Although the U.S. Securities and Exchange Commission (SEC) has stated that it intends to move from US GAAP to the International Financial Reporting Standards (IFRS), they differ considerably from GAAP and progress has been slow and uncertain. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 4754 Audiopedia
Key Accounting Concepts
 
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There are a few important concepts related to business and accounting that form the backbone of the modern accounting and financial reporting system. In this lecture, we will look at some of these concepts and how the accounting system works.
Views: 29680 Finance Train
Financial Accounting Conceptual Framework (Financial Accounting Tutorial #12)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this video I go over what is known as the "Conceptual Framework." It basically is a system made up of objectives, elements of financial accounting and principles and constraints. I give a brief analogy to contrast between my metaphor of our symbolic "society" and the conceptual framework. Basically the objectives are our fundamentals of financial accounting. Elements let us express the financial information while the principles and constraints make sure that we don't deviate outside of safe/legit accounting (avoiding fraud). ** NotePirate is privately owned and exclusive to NotePirate.com** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate
Views: 31521 Notepirate
Accounting Assumptions and Principles | Intermediate Accounting | CPA Exam FAR | Chp 2 p 3
 
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Conceptual framework for financial reporting, statement of financial accounting concepts, Conceptual framework, elements of financial statements, recognition and measurements, qualitative characteristics of accounting information, GAAP, SEC, FASB, CPA exam, he Entity Concept, The Accounting Period Concept, The Cost Principle, The Matching Concept, The revenue Recognition Principle, The Conservatism Principle, The Going Concern Principle. In the practice of financial accounting, certain basic assumptions are important to an understanding of the manner in which data are presented. The following four basic assumptions underlie the financial accounting structure: Economic Entity Assumption.  Economic activity can be identified with a particular unit of accountability in a manner that assumes the company is separate and distinct from its owners or other business units. Going Concern Assumption. In the absence of contrary information, a company is assumed to have a long life. The current relevance of the historical cost principle is dependent on the going-concern assumption. Monetary Unit Assumption. Money is the common denominator of economic activity and provides an appropriate basis for accounting measurement and analysis. The monetary unit is assumed to remain relatively stable over the years in terms of purchasing power. In essence, this assumption disregards any inflation or deflation in the economy in which the company operates. Periodicity Assumption. The economic activities of a company can be divided into artificial time periods for the purpose of providing the company’s periodic reports. Basic Principles 10. (L.O. 7) Certain basic principles are followed by accountants in recording and reporting the transactions of a business entity. These principles relate to how assets, liabilities, revenues, and expenses are to be identified, measured, and reported. Measurement Principle. A ‘mixed-attribute’ system permits the use of various measurement bases. Historical Cost Principle. Acquisition cost is considered a reliable basis upon which to account for assets and liabilities of a company. Historical cost has an advantage over other valuations, as it is thought to be verifiable. Fair Value Principle. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in on orderly transaction between market participants at the measurement date. Recently, GAAP has increasingly called for the use of fair value measurements in the financial statements. Revenue Recognition Principle. Revenue is recognized at the time in which the performance obligation is satisfied. Expense Recognition Principle. Recognition of expenses is related to net changes in assets and earning revenues. The expense recognition principle is implemented in accordance with the definition of expense by matching efforts (expenses) with accom-plishment (revenues). Product costs, such as material, labor, and overhead, attach to the product, and are recognized in the same period the products are sold. Period costs, such as officers’ salaries and other administrative expenses, attach to the period, and are recognized in the period incurred. Full Disclosure Principle. In the preparation of financial statements, the accountant should include sufficient information to influence the judgment and decision of an informed user. A series of judgmental tradeoffs must occur. Cost Constraint 11. (L.O. 8) Although accounting theory is based upon certain assumptions and the application of basic principles, there are some exceptions to these assumptions. One exception is often called a constraint, and sometimes justifies departures from basic accounting theory. Cost Constraint. The cost constraint (or cost-benefit relationship) relates to the notion that the benefits to be derived from providing certain accounting information should exceed the costs of providing that information. The difficulty in cost-benefit analysis is that the costs and especially the benefits are not always evident or measurable.
Internal Control | Financial Accounting | CPA Exam FAR | Ch 7 P 1
 
31:59
Internal control, sarbanese-oxley, public company, internal control components, control procedures, risk assessments, information system, monitoring of controls, environment, tone at the top, internal auditor, external auditor, separation of duties, encryption
Cash Payment Journal , Principles of Accounting Bangla Tutorial -6
 
12:45
Cash Payment Journal , Basic accounting Bangla Lecture-6 by Lecturer Md. Mostafizur Rahman , Financial Account, Principal's of Accounting. for BBA BBS & MBA. Modifying an accounting system or Special Journal. This video is contributed by Md Mostafizur Rahman. Lecturer Govt. Janata College, Please Like, Comment and Share the Video among your friends and family members For latest updates subscribe My channel ------------------------------------------------------------------------ Financial Accounting. Modifying an accounting system purchases journal sales journal cash received journal cash payment journal Sales journal and purchases journal- perpetual inventory system. Sanjib co. uses special journals and a general journal. The following transaction occurred during January. 2011 January 1 Sajib invested tk.6, 00,000 cash in the business. January 2 sold merchandise to Sayeed for tk63, 000 cash. The cost of the merchandise sold was Tk.42, 000. January 3 purchased merchandise for Tk.82, 000 from Rahim using cheque no.101. January 14 paid Saley to polash Tk.7, 000 by issuing cheque on. 102. January 16 sold merchandise on account to. Daiyan for Tk.9, 000 terms n/30. The cost of the merchandise sold was tk.6, 300. January 22 a Cheque of Tk.90, 000 is received from Idris in full for invoice 101. No discount given. Instructions: Record the transactions for January in the cash receipts journal and the cash payments journal. ---------------------------------------------------------------------------- You can see my other videos... FIFO Method, Financial Accounting Bangla lecture-2 By Lecturer Md. Mostafizur Rahman https://www.youtube.com/watch?v=w46G5rvFR8o&t=355s https://www.youtube.com/watch?v=xsjtANoF8X8&t=8s https://www.youtube.com/watch?v=h-XpBTO-_9Q&t=8s Accounting Equation Part-2 (FINANCIAL ACCOUNTING) BANGLA Tutorial https://www.youtube.com/watch?v=KhSHVAfJltk leverage Part-1 Financial Management. https://www.youtube.com/watch?v=TyLkPSh6QYg&t=279s Set (সেট) Business Application, Lecturer-1 [ Business Mathematics] https://www.youtube.com/watch?v=2dJkGTBD2QU
Views: 1028 Online Education BD
Tally Erp 9 Complete Basic Accounting Class with Example (HINDI)-Day 1|Journal Entries example Tally
 
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Learn Tally ERP 9 Basic Accounting Entries Concepts Such as What is Debit & Credit, Accounting Rules, Ledger Classification, Types of Accounts Personal Account, Real Account, Nominal Account and Basic Entries with Practices Exercises for You, this is a Full Hindi tutorial with practical Approach to Learn Tally Accounting Concepts. It is a Basic Introduction or prerequisite education to Learn Tally Erp 9.it is Tally Erp 9 Complete Basic Accounting Class with Example. To learn Tally ERP 9 Course we explain learn basic accounting in tally. if you want to learn tally with gst then it is your first learn basic accounting class to start tally with gst. 👉Watch All Day by Day Videos's Day-2 INTRODUCTION to TALLY ERP 9 https://www.youtube.com/watch?v=XCszfm-6nBY&t=1s 👉GST Accounting Entries in Tally Day by Day – https://www.youtube.com/playlist?list=PLlDtUyWdJwXWXAGj_W0peoAfenOKHeCYN 👉Day-3 Company Creation, Alteration, Tally Password https://www.youtube.com/watch?v=pqLoH8ObJ_M 👉Day-4 Concept of Groups in Tally https://www.youtube.com/watch?v=6wi9BGM4iLA 👉Day-5 How to Create Ledgers- https://www.youtube.com/watch?v=Cb6QLeXs_OU 👉Day-6 Voucher Entry -Contra, Payment, Receipt, Journal, Sales, Purchase Voucher https://www.youtube.com/watch?v=tGX9iZSWu9I 👉Day 7- Watch All Bank Transaction Entries in Tally- https://www.youtube.com/watch?v=QV1M0ALJPOA 👉Day 8- Discount Related Entries in Tally | Cash or Trade Discount | All About Discount Tally https://www.youtube.com/watch?v=AfMlAyxw3j8&index=8&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&t=25s 👉Day-9- Basic Adjustment Entries|Journal Voucher Entries https://www.youtube.com/watch?v=IYBoqln8uK4&index=9&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv&t=25s 👉DAY-10- Common Tally Problems Dr/ Cr Mode|Single Payment Modehttps://www.youtube.com/watch?v=43azz8FC89A&index=10&list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv 👉Download Practices Entries form our blog: http://cpitudaipur.blogspot.in/ 👉Watch Tally Shortcut and Tricks: https://www.youtube.com/watch?v=s2vcoM6kF8M&t=25s 👉Watch how to Run Tally in Pen Drive: https://www.youtube.com/watch?v=48yH5o4ytLA 👉Watch Tally Calculator Tricks: https://www.youtube.com/watch?v=wdTXMZIfdh4 👉Visit Our Website: https://cpitudaipur.com 👉Visit Our Facebook Page: http://facebook.com/cpitudr 👉Please Subscribe to Our Channel https://www.youtube.com/channel/UCSMsxXvvi-7XvygtsMWRBOg
Wages Journal Basics - How to Payroll Accounting
 
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In this video, I share how to complete wages journals for payroll. This tutorial demonstrates UK Payroll accounting but the principles of double-entry are used internationally. The debits and credits of gross pay, net pay, employers and employees tax are detailed. Create a bookkeeping spreadsheet using Microsoft Excel http://youtu.be/LlWADbkGdac Support this Channel https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=FHGCUQ8GU9VB6 30 Free Day Trial on KashFlow Accounting Software http://www.kashflow.com/?code=AFF2105084 Free Bookkeeping and Accounting Course https://www.youtube.com/watch?v=IhYJbCAcCKE&feature=c4-overview&list=UUgPrg8qyvKaiED9tvdAIfpQ Learn more at www.freebookkeepingaccounting.com
Views: 25637 BookkeepingMaster
Accrual and Cash Basis Accounting - Ch.3 Video 1
 
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Accrual vs. Cash Basis Accounting
Views: 172923 mattfisher64
Accrual Basis Accounting Definition -What is Accrual Basis Accounting?
 
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Accrual basis accounting definition including break down of areas in the definition. Analyzing the definition of key term often provides more insight about concepts. The term accrual basis accounting can be defined as: Accounting system that recognizes revenues when earned and expenses when incurred; the basis of GAAP. The term accrual basis accounting is the core accounting concept and method used by most businesses and in most textbooks and the accrual method is the method of GAAP. The accrual method can be contrasted against the cash method, the accrual method recognizing revenue when earned and expenses when incurred, the cash method recognizing revenue and expense when cash is received and paid. The accrual method is more accurate in that it pinpoints the point when revenue was earned and when expenses incurred. Why Learn Accounting - Financial Accounting / Managerial Accounting https://youtu.be/uaWDB1YdA1k?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Double Entry Accounting System Explained - Accounting Equation https://youtu.be/66e9QbrkE4g?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Cash vs Accrual - Cash Method / Accrual method differenc https://youtu.be/i2O0cexCrqc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Revenue Recognition Principle https://youtu.be/M_pauBGz5Jc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI Double Entry Accounting System Explained - Balance Sheet https://youtu.be/kOItl8E3fNA?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Income Statement Introduction https://youtu.be/1k11H8icQxc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Accounting Objectives - Relevance Reliability Comparability https://youtu.be/mO8tPzFmN8o?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Rules - Accounting Equation https://youtu.be/0vy6W_WTO2I?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Transaction Throught Process / Steps - Accounting Equation https://youtu.be/SlTo3EXDuqU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Owner Deposits Cash Transaction Accounting Equation https://youtu.be/lPZoImc88eU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 101 Work Completed for Cash Transaction Accounting Equation https://youtu.be/ll5xIHVdrVs?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 100.110 Pay Employee with Cash Transaction Accounting Equati https://youtu.be/bSa3NuVpkwc?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits Normal Balance - Double Entry Accounting Sy https://youtu.be/alSWKuWPlxU?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI 200 Debits & Credits - One Rule to Rule Them All https://youtu.be/RL3BFjL1eyE?list=PL60SIT917rv52SlrB3FFn2WMyZEkj6uBI
basic concept of accounting by Santosh kumar (CA/CMA)
 
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This is only a demo class. classes are available for CA/CMA/CS/B.COM( All universities), 11th, 12th. My all classes are available in Returnable Pen drive mode. YOU can also buy my classes on per chapter basis at conceptonlineclasses.com. for any query, please contact us on 8448322142
Views: 444469 santosh kumar
Computer Accounting :  Basic techniques to operate  Accounting  Software's
 
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Introduction of Computerised Accounts : Learn basic techniques how to operate any Accounting Software's of the world. Learn Complete theory of computer accounts. If you want to learn tally or any other accounting software this class will be very helpful to understand the basic theory of computer accounting softwares. This video is created by City Commerce Academy. Lecture by Prof. Amar Jeet Singh
Accrual Concept | Basic Accounting Concepts | 11th | CA-CPT | By CA. Pardeep Jha
 
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Accounting Basics and Basic Accounting 11th by CA. Pardeep Jha, for XIth C.B.S.E. I've explained the Accrual Concept in Detail with examples. Double Entry book keeping is based on Accrual Concept ignoring the cash inflows or outflows. This Lecture Include - 1. What are the methods of accounting 2. What is cash system of accounting 3. What is accrual system of accounting 4. What is Accrual Concept 5. What is outstanding 6. What is prepaid 7. What is accrued income 8. What is income received in advance 9. Why we follow accrual system 10. Practical implication of accrual system 11. Accrual system vs cash system 12. Accrual concept 13. Accrual concept in detail 14. Benefit of using accrual You can Ask your Queries here or on our Facebook Page www.facebook.com/winningquest
Views: 977 Winning Quest
Double entry bookkeeping - Part 2 - accounting principles
 
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http://accountingcollege.co.uk/
Views: 597 Accounting College

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