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Cash Receipt Journal | Accounting and Financial Management (ACCT101)
 
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http://goo.gl/4WVE0T for more free video tutorials covering Accounting and Financial Management. This video gives an overview on cash receipt journal and subsequently explains how to record transactions in the cash receipt journal and related subsidiary ledgers. Journal that specifically records all cash inflow including cheques to the firm or bank deposits are known as cash receipt journal. This journal is designed especially for the firm. Hence unlike sales journal, each column will correspond to the most frequent mode of cash inflow that the organization receives. Cash receipt journals are prepared for the convenience of having all cash inflows in one location rather than narrations or extensive general journal as well as it makes lot easier to track inflows from specific debtors when combined with subsidiary ledger and can also verify any repayment. Moving on, the video demonstrates how to prepare this special journal approach and clears the fact that amounts relating to accounts receivables from customers with subsidiary ledgers need to be posted which will represent the repayment of debt through a simple example.
Views: 21969 Spoon Feed Me
Financial Accounting: Internal Controls for Cash Receipts & Payments
 
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Description Help us caption & translate this video! http://amara.org/v/Fivr/
Views: 17960 ProfAlldredge
Managerial Accounting: Cash Payments Budget
 
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Help us caption & translate this video! http://amara.org/v/G630/
Views: 1040 ProfAlldredge
Internal Control Over Cash Payments | Financial Accounting | CPA Exam FAR | Ch 7 P 3
 
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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, lock box system
Accounting for 1st year Varsity: Cash payments journal
 
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Cash payments journal
Views: 5581 Tutormeonlineza
Cash Payment Journal , Principles of Accounting Bangla Tutorial -6
 
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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: 1570 Online Education BD
Accounting for Beginners #51 / Payroll / Employees Net Pay / Where do the Taxes Go? / Accounting 101
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! Accounting for Beginners #51 / Payroll / Employees Net Pay / Where do the Taxes Go? / Accounting 101. We really switch gears with this video. So much so, that i had to put a video of a sideshow in. We went to payroll. And this video is focusing on the Employee's check. How you start with the gross amount minus taxes and you are left with the net amount. 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. 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
Views: 9916 CPA Strength
Accounting, Cash Payment journal, নগদ প্রদান জাবেদা
 
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Accounting, Cash Receive journal, নগদ প্রদান জাবেদা Current Assets & Current Liabilities চলতি সম্পদ ও চলতি দায় চেনার উপায় আমি আপনাদের সাথে যা যা নিয়ে আলোচনা করবো, সেগুল হলঃ- লেনদেন, জাবেদা, খতিয়ান, রেওয়ামিল, সমন্বয় জাবেদা, সাধারন জাবেদা, সংশোধনী জাবেদা, বিপরীত জাবেদা, সাধারন খতিয়ান, সরকারি খতিয়ান, কার্যপত্র, কার্যপত্রের সমন্বয়, আর্থিক বিবরণী, ssc, hsc, একতরফা দাখিলা, পদ্ধতি, দৃশ্যমান অদৃশ্যমান, লেনদেন অনাদায়ী পাওনা, ট্রেডমার্ক, হিসাববিজ্ঞান, অব্যবসায়ী প্রতিষ্ঠানের হিসাব, অংশীদারি কারবার, নগদ প্রবাহ বিবরণী, যৌথ মূলধনী কোম্পানির হিসাব, শেয়ার, শেয়ারের জাবেদা, যৌথ মূলধনী কোম্পানির আর্থিক বিবরণী, আর্থিক বিবরণী বিশ্লেষণ ,অনুপাত বিশ্লেষণ, তারল্য অনুপাত, তড়িৎ অনুপাত, মূলধন গিয়ারিং অনুপাত, চলতি সম্পদ, চলতি অনুপাত, চলতি দায়, মজুদ আবর্তন অনুপাত, বিক্রিত পণ্যের ব্যয়, ক্রয়, বিক্রয়, নিট ক্রয়, need bikroy সমাপনী মজুদ পণ্য, প্রারম্ভিক মজুদ পণ্য, তিন ঘরা নগদান, বই দুই ঘরা নগদান বই, এক ঘরা নগদান বই, খুচরা নগদান বই, অগ্রদত্ত পদ্ধতি, উৎপাদন ব্যয় বিবরণী, বেতন ও মজুরি, মজুদ পণ্যের হিসাবরক্ষণ, পদ্ধতি ব্যয় ও ব্যয়ের শ্রেণিবিভাগ , সমচ্ছেদ বিন্দু, ইত্যাদি নিয়ে আমি আপনাদের সাথে আলোচনা করব . আপনাদের যদি আমার কাছে কোন কিছু জানার থাকে তাহলে অবশ্যই আমাকে জানান .আমি অবশ্যই চেষ্টা করব সে ব্যাপারে আপনাকে সাহায্য করতে ধন্যবাদ ভুল ত্রুটি হলে ক্ষমার দৃষ্টিতে দেখবেন This lesson is very important for these keywords: ssc accounting bangla tutorial, accounting bangla tutorial for ssc, accounting lecture ssc, accounting for ssc, accounting 9-10, accounting ssc, accounting class 10 bangla, accounting class 9 bangla, ssc accounting, hisab biggan class 9-10, accounting class 9-10, class 9-10 accounting, accounting bangla tutorial, Bangla accounting , accounting in bangla, Bangladeshi accounting, hishab biggan , হিসাব বিজ্ঞান , রেওামিল , জাবেদা , খতিয়ান , rewamil , jabeda, khotiyan , debit , credit , debit credit niyom, ledger ,trial balance , journal journal entry, accountancy (field of study,) contes,t simple, easy, journa,l entry tutoria,l simple steps, accounting, accounting tutorial, basics of accounting, introduction to accounting, journal entry basics, simple accounting tutoria,l journal in accounting ,how to make journal entry, journal বিশদ আয় বিবরণী income statement accounting income statement bangla income statement tutorial in bangla income statement and balance sheet tutorial আয় বিবরণী detailed income statement ssc class 9-10 accounting হিসাববিজ্ঞান আর্থিক বিবরণী financial statement ssc accounting bangla tutorial accounting bangla tutorial for ssc accounting lecture ssc accounting for ssc accounting 9-10 accounting ssc ssc accounting hisab biggan class 9 accounting bangla tutorial
Views: 540 Business School
9-4 Accounting for Cash Payments
 
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Recorded with http://screencast-o-matic.com
Views: 100 SpearsClassroom
Automated Accounting - Cash Payments Journal General Debit
 
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Automated Accounting - Cash Payments Journal General Debit
Views: 257 Mike Gustantino
Cash Budget (with solved problem) in management accounting tutorial :-by kauserwise
 
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▓▓▓▓░░░░───CONTRIBUTION ───░░░▓▓▓▓ If you like this video and wish to support this kauserwise channel, please contribute via, * Paytm a/c : 7401428918 * Paypal a/c : www.paypal.me/kauserwisetutorial [Every contribution is helpful] Thanks & All the Best!!! ─────────────────────────── Here is the video about Cash Budget in Management accounting with solved problem in simple manner. Hope this will help you to get the subject knowledge at the end. Thanks and All the best. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research 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
Views: 558265 Kauser Wise
IFRS 2 Share-Based Payment
 
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http://www.ifrsbox.com Get free report Top 7 IFRS Mistakes! This is the short summary of IFRS 2 Share-based Payment. The objective of IFRS 2 is to specify the financial reporting by an entity when it undertakes a share-based payment transaction Share-based payment transaction is a transaction in which the entity either: - Receives goods or services from the supplier (including employee) in a share-based arrangement; or - Incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. Share-based payment arrangement entitles the counterparty to receive either: - Cash or other assets of the entity for amounts based on the price or value of entity's or another group entity's own equity instruments (shares, share options, etc.). These transactions are cash-settled. - Equity instruments of the entity or another group entity -- these transactions are equity-settled. How to recognize share-based payment transactions: - Goods or services received in cash-settled transactions are recognized with the corresponding credit to liabilities; and - Goods or services received in equity-settled transactions are recognized with the corresponding credit to equity. How to measure share-based payment transactions: - At fair value of goods or services received. - If it is impossible to determine (mainly in the transactions with employees), then at fair value of equity instruments granted. Vesting conditions: - If the share-based payment is not vested, then the transaction is recognized immediately at the grant date; - If the share-based payment is vested, then the transaction is recognized over the vesting period. For full summary of IFRS 2 and many other IFRS materials, please check out http:///www.ifrsbox.com
Views: 77086 Silvia M. (of IFRSbox)
Automated Accounting - Cash Payments Journal, Pay cash on account with discount
 
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Automated Accounting - Cash Payments Journal, Pay cash on account with discount
Views: 223 Mike Gustantino
Intro to Financial Accounting: Cash vs Accrual Basis and Revenue Recognition Principle
 
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Introduction to Financial Accounting Professor Alexander Sannella Lecture 6 0:31 Comprehensive Problem 18:25 General Ledger 21:48 Trial Balance 24:50 Income Statement 26:33 Retained Earnings 30:37 Balance Sheet Chapter 3 Learning Objective 1 40:19 Cash Basis vs Accrual 43:12 Summary Questions and Explanations 44:34 Question 1 47:10 Question 2 47:25 Question 3 50:18 Question 4 Learning Objective 2 57:15 Time Period Concept 59:51 Example 1:05:18 Companies Year end 1:05:43 Accrual Basis Accounting 1:06:25 Revenue Recognition Principle 1:08:44 Summary 1:10:36 The Matching Concept Questions and Explanations 1:13:05 Question 1 There are two approaches to accounting for entities - the cash basis and the accrual basis. A cash basis approach focuses on actual cash collections and payments. Under the cash basis, revenues are recorded when the cash is collected, and expenses are recorded when cash payments are made. An accrual basis approach recognizes that the recognition of revenues and expenses should not be affected by the timing of cash collections and disbursements. Rather, revenues and expenses should be recognized when the underlying economic activities actually take place. Revenue is recorded when it is earned, even if the collection of the cash takes place at a later date. Expenses are recorded when they are incurred, even if cash collection takes place at a later date. The accrual basis measures economic activity rather than cash collections and disbursements. The need for accounting adjustments results from the time period assumption (periodicity concept). It should be noted that the profit or loss of a particular business venture cannot be determined until the business is terminated and all assets are liquidated. However, due to the fact that the business community, investors, creditors, and the government cannot wait for the business to end for financial information to be supplied, the environment in which accounting operates demands information on a timely basis. Accounting information is only useful if it is capable of making a difference in a decision. Thus, it must be presented on a timely basis. For example, the Internal Revenue Service (IRS) will not wait for tax information until a business liquidates. The Securities and Exchange Commission requires quarterly (10Q) and annual reports (10k) from filers. To satisfy user needs, accountants must truncate the life of the business into artificial reporting periods of equal length; a fiscal year or calendar year, quarters, months, etc. This is the basis of the time period assumption. The time period concept assumes that the life of an economic entity can be divided into artificial time periods of equal length for the purpose of providing periodic reports on the economic activities of the entity. Application of the time period concept requires that we used accrual basis accounting. A business's activities are separated into small segments, and the financial statements can be prepared for specific time periods, such as a month, quarter, or year. Any twelve month period is referred to as a fiscal year (not necessarily a full calendar year). The time period concept simply states that it is appropriate to report a company's information periodically at a predefined time interval. The application of the time period concept in practice requires the use of the accrual basis of accounting. The fundamental principles of accrual accounting are the revenue recognition principle and the matching principle (also known as the expense recognition principle). Under the revenue realization principle, revenue is recognized when an exchange has taken place and the earning process is essentially completed. The earning process is complete when there are no material uncertainties as to future costs to be incurred and as to collection. The earnings process is also deemed "complete" when the seller has either delivered a product or performed a service. Revenue is recognized when it is earned, regardless of the timing of cash collection. The matching principle states that expenses (also known as costs before they are matched to revenues) are to be recognized only in the period in which the related revenues (benefits) are received. Expenses must be recognized when incurred, regardless of when cash is actually paid. Expensing sales commissions earned in the same period as a sale is made, even if the sale is not collected, is an application of the matching principle. At times, expenses are not easily related to revenues and here, we can recognize expense based on the passage of time (e.g. insurance policies expire as each month of coverage passes). As insurance coverage is used, it represents an expense. However, it is not possible to relate or match this expense to specific revenues earning over the same period.
Automated Accounting - Cash Payments Journal, Pay Cash on Account (No Discount)
 
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Automated Accounting - Cash Payments Journal, Pay Cash on Account (No Discount)
Views: 305 Mike Gustantino
Financial Accounting: Petty Cash Account
 
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Help us caption & translate this video! http://amara.org/v/Fw9M/
Views: 16379 ProfAlldredge
Prepare Receipts and Payments Accounts from Cash Summery.
 
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Ch. NPO TOPIC RECEIPTS AND PAYMENTS FROM CASH SUMMERY BY PGT. COMM. R.P.SINGH M.9560238816
Accounting for Beginners #14 / Journal Entry with Cash / Expense
 
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https://www.youtube.com/playlist?list=PLT-zZCow6v8t5_2RQDnAOQHfQiBYDw26z BEST ACCOUNTING PLAYLIST ON YOUTUBE !!!!!!!! In my 14th video for my Accounting for beginners series, i go over a Basic Journal Entry involving cash. In this Journal Entry, i have cash leaving the Business as an Expense 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. 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
Views: 45373 CPA Strength
Accounting for Purchases Perpetual Inventory Financial Accounting FAR Exam
 
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Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ II. Accounting for Merchandise Purchases The invoice serves as a source document for this event. A Purchases without Cash Discounts. 1. Entry to record purchase: debit Inventory, credit Cash or Accounts Payable. 2. Trade Discounts: deductions from list price (catalog price) to determine the invoice price (actual selling price). Trade discounts are not entered into accounts. B. Purchase With Cash Discounts 1. Credit terms describe cash discounts offered to purchasers by seller for payment within a specified period of time called the discount period. 2. Cash Discounts- granted by the seller to encourage buyers to pay the amount they owe earlier. Buyers view cash discounts as purchase discounts and sellers view them as sales discounts. 3. Example: credit terms, 2/10 n/30, offer a 2 % discount if invoice is paid within 10 days of invoice date, if not full payment is due within 30 days of invoice date. 4. Entry for buyer for purchase using full invoice, gross method is: debit Merchandise Inventory and credit Accounts payable. 5. Payment within Discount Period: debit Accounts Payable (full invoice amount), credit Cash (full invoice – discount), credit Inventory (amount of discount). 6. Managing Discounts: Missing out on cash discounts can be very costly. A system should be set-up to ensure that all invoices are paid on the last day of discount period. 7. Payment after Discount Period: debit Accounts Payable and credit Cash. C. Purchases with Returns and Allowances 1. Purchase allowances is a reduction in the cost of defective merchandise that a buyer acquires. 2. Purchases returns are merchandise a buyer acquires but then returns to the seller. 3. A debit memorandum informs the seller of a debit made to the seller’s account payable in the buyer’s records. 4. Entry on buyer’s books: debit Accounts Payable or Cash (if refund given) and credit Inventory. 5. Discounts can only be taken on the remaining balance on the invoice if a return is made before payment is made. D. Purchases and Transportation Costs - the point at which ownership is transferred (called FOB or free on board). Determines who is responsible for paying any freight costs and/or bearing any loss. Two alternative points of title transfer are: 1. FOB shipping point—title transfers at shipping point and buyer pays shipping costs. a. Increases cost of merchandise (cost principle) b. Debit Inventory, credit Cash or Accounts Payable (if to be paid for with merchandise later) 2. FOB destination—title transfers at destination and seller pays shipping costs. a. Operating expense for seller b. Debit Delivery Expense and credit Cash.
Webinar: EZLynx Accounting - Direct Bill Cash Payments (All Users)
 
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This video is intended for all users at an agency that uses EZLynx Accounting. Learn how to use EZLynx Accounting to collect customer payments for direct bill policies. Also, includes how to make deposits and make carrier payments.
Views: 1825 EZLynx
Cash Basis Versus Accrual Basis Accounting (Revenue & Expense Recognition )
 
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Compare cash basis to accrual basis accounting, basic difference is the timming difference when revenue and expenses are recognized on the income statement, accrual based accounting reports revenues when earned regardless if cash payments have been received, report expenses when they occur regardless if cash payments have been made in contrast cash basis accounting reports revenues and expenses when cash has actually been received or paid, in accrual basis accounting there are these basic account types, starting with liability accounts (1) unearned revenue (deferred revenue) and (2) accounts payable (accrued expense), for asset accounts (3) accounts receivable (accrued revenue) and (4) Inventory, Prepaid Assets (deferred expense), use accrual accounting to allocate income and expenses to the period they actually occur, detailed accounting calculations with balance sheet and income statement (T Account) amounts showing expense and revenue recognition on the income statement (comparing cash basis with accrual basis) by Allen Mursau
Views: 1847 Allen Mursau
Quickbooks 15: Receiving Payments, Paying Bills., Cash Deposits
 
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Ken Boyd is the owner of St. Louis Test Preparation (www.stltest.net). He provides tutoring in accounting and finance to both graduate and undergraduate students, as well as QuickBooks consulting. Ken is the author of Cost Accounting for Dummies (Available in March of 2013). As a former CPA, Auditor, Tax Preparer and College Professor, Boyd brings a wealth of business experience to education.
Views: 108738 AccountingED
Payment, Received, Journal, Contra Entry Busy Accounting Software  9210161132-9212221060
 
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A. K. SOFTWARES AND SERVICES 35-A, MAIN ROAD, EAST AZAD NAGAR, KRISHNA NAGAR, DELHI-110051 E-mail : [email protected] Website : www.busyak.in Contact : (9210161132 Shahrukh Sir, 9212221060 Amit Sir)
Statement of Cash Flow--Direct Method | Intermediate Accounting | CPA Exam FAR | Chp 23 p 3
 
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Direct Method Minimum disclosure requirements for companies using the direct method include the following: Receipts a. Cash collected from customers. b. Interest and dividends received. c. Other operating cash receipts, if any. Payments a. Cash paid to employees and suppliers of goods and services. b. Interest paid. c. Income taxes paid. d. Other operating cash payments, if any. Use of the indirect method requires separate disclosure of changes in inventory, receivables, and payables relating to operating activities. Such disclosures are required for the purpose of aiding users in approximating the direct method. Direct versus Indirect Method 18. Under the direct method (also called the income statement method) cash revenues and expenses are determined. The difference between these two amounts represents net cash flows from operating activities. In essence, the direct method results in the presenta¬tion of a cash basis income statement. Under the indirect method (also called the reconciliation method), computation of net cash flows from operating activities begins with net income. This accrual-based amount is then converted to net cash provided by operating activities by adding back noncash expenses and charges and deducting noncash revenues. a. The principal advantage of the direct method is that it shows operating cash receipts and payments. Supporters contend that this is useful in estimating future cash flows and in assessing an entity’s ability to (a) generate sufficient cash flow from operations for the payment of debt, (b) reinvest in its operations, and (c) make distributions to owners. b. Proponents of the indirect method cite the fact that it focuses on the difference between net income and net cash flow from operations as its principal advantage. Also, supporters of the indirect method contend that users are more familiar with the method and it is less costly to present the statement of cash flows using this method. Special Problems in Statement Preparation 19. (L.O. 4) Some items that relate to various aspects of the statement of cash flows require special attention when preparing the statement of cash flows. a. Depreciation and amortization. Depreciation expense is added back to net income to arrive at net cash provided by operating activities. Likewise, amortization of limited-life intangible assets, deferred costs, and bond premium or discount are also adjustments to net income. b. Pension benefit costs. The difference between the pension expense recorded during the period and the amount of cash funded for the pension plan is an adjustment to net income in arriving at net cash provided by operating activities. c. Deferred income taxes. Changes in deferred income taxes affect net income, but have no effect on cash. An increase in deferred income taxes decreases net income but not cash, and therefore is added back to net income. d. Equity method of accounting. The net increase in the investment account increases net income but does not affect cash flow. The net increase is deducted from net income to arrive at net cash flow from operating activities. e. Gains and losses. Because a gain on the sale of plant assets is reported in the statement of cash flows as part of the cash proceeds from the sale of the assets under investing activities, the gain is deducted from net income to avoid double counting. A loss on sale is added back to net income, and the full cash proceeds is included under investing activities. f. Stock options. For share-based compensation plans, companies are required to use the fair value method to determine compensation cost. Compensation expense is recorded during the period(s) in which an employee performs the service if a company has a stock option plan. This expense is recorded by debiting compensation expense and crediting a stockholders’ equity account. Thus, net income is increased by the amount of compensation expense in computing net cash provided by operating activities. g. Unusual and infrequent items. Cash flows from unusual and infrequent transactions and other events whose effects are included in net income, but which are not related to operations, are reported as either investing or financing activities. h. Accounts receivable (net). An increase in the Allowance for Doubtful Accounts is added back to net income to arrive at net cash provided by operating activities. This is due to the fact that the increase in the allowance results in a charge to bad debts expense (a noncash expense). operating, investing, financing, operating activities, financing activities, investing activities, cash flows statement, statement of cash flow, financial statement, cash inflow, cash outflow, net cash used, net cash provided, non cash activities, direct method of cash flow, indirect method of cash flow, cash flow to total assets,
Managing Business Finances & Accounting; Accepting Cash Only
 
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http://www.StartupOwner.com Accepting Cash Only Accepting Cash Only Cash is the most commonly accepted and reliable form of payment for a business. Many small businesses operate as "cash only" merchants. Years ago this wouldn't have been uncommon, but with advances in technology, business owners must ask themselves if they're hurting their bottom line by limiting payment options. If you're thinking about starting a cash only business or if you're considering expanding your current payment options, be aware of the pros and cons of only accepting cash. Pros of accepting only cash: Cash payments ensure that businesses receive funds immediately. With each transaction, your business immediately receives the appropriate payment amount without the worry of waiting periods or not getting paid at all. Cash is the simplest form of payment and therefore involves less bookkeeping. For a business, that not only means less stress and hassle, but it also may save money in the time and labor it would take for a bookkeeper to record other payments methods. There is limited risk of fraud when accepting cash only. There are cases of counterfeit cash payments, but compared to other payment methods, fraud is much less common in cash transactions. Cash only businesses don't have to worry about third parties or fees associated with other payment options. Cons of accepting only cash: Customers who do not have enough cash on them will have to walk away from a purchase they would otherwise make. Your business may lose customers by only accepting cash. As card payments become more and more popular, many consumers expect this to be an option when making purchases. If they find that a particular business only accepts cash, they may feel inconvenienced and shop elsewhere. Keeping large sums of cash on your business's premises increases the amount of time you'll spend managing finances and also creates an added security risk. The IRS requires that you file a Form 8300 if your business receives more than $10,000 in cash from one buyer as a result of a single transaction or two or more related transactions. The same rule applies to cash equivalents such as traveler's checks, bank drafts, cashier's checks, and money orders. The form requires the name, address, and Social Security number of the buyer. The nature of some small businesses may make it smarter to stay cash only. Flea markets, street vendors, and lawn service providers are just a few examples of common cash only small businesses. At the end of the day, you will have to decide which payment options will create the most success for your business. http://youtu.be/Ek9jgKQZCig For More information on How to start your own business, visit www.StartupOwner.com You will be able to access more Free Tips and Learn how to become a successful Business Owner Today.
Views: 153 StartupOwner
20  Cash Book  Payment Voucher in Accounting V2
 
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AutoCount Accounting V2.0 www.autocountsoft.com
Views: 75 AutoCount
How to manage petty cash in Xero Accounting Software
 
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Watch this tutorial to learn how Xero can help you manage your petty cash by setting it up as a bank account in the system. You'll also learn how to: - account for money transferred from your bank account into your petty cash - create spend money transactions to account for day-to-day sundry expenses - create received money transactions to account for any money added into your petty cash but is not from your bank e.g. owner putting money into petty cash using his own money Try Xero accounting software for free: http://www.xero.com/signup/
Statement of Cash Flows | Intermediate Accounting | CPA Exam FAR | Chp 5 p 2
 
01:00:46
cash flow statement tutorial, cash flow statement explained, cash flow statement analysis, cash flow statement direct method, how to prepare cash flow statement, cash flow statement direct vs indirect, cash flow statement direct vs indirect, Cash flow statement FAR, Financial Accounting Reporting,FAR,FAR CPA Review,FAR CPA Exam,FAR CPA Lectures, Roger CPA FAR,CPA Exam FAR Tips, ,how to pass the CPA exam,how to study for the cpa exam,becker,cpa exam,cpa, CPA exam Tutor,CPA exam Tutoring, video, FAR video, Free FAR video The information in a statement of cash flows should help investors, creditors, and others to assess: (1) the entity’s ability to generate future cash flows; (2) the entity’s ability to pay dividends and meet obligations; (3) the reasons for the difference between net income and net cash flow from operating activities; and (4) the cash and noncash investing and financing transactions during the period. The required presentation of the statement of cash flows provides financial statement users with information about the major sources and uses of cash during the fiscal period. Classification of Cash Flows 3. The statement of cash flows classifies cash receipts and cash payments by operating, investing, and financing activities. Operating activities include all transactions and events that are not investing and financing activities. Operating activities include the cash effects of transactions that enter into the determination of net income, such as cash receipts from sales of goods and services, and cash payments to suppliers and employees for acquisitions of inventory and expenses. Operating activities involve income determination items. 4. Investing activities include (a) making and collecting loans, and (b) acquiring and disposing of investments and productive long-lived assets. Investing activities involve cash flows generally resulting from changes in long-term asset items. 5. Financing activities involve liability and stockholders’ equity items and include (a) obtaining cash from creditors and repaying the amounts borrowed, and (b) obtaining capital from owners and providing them with a return on, and return of, their investment. Financing activities involve cash flows generally resulting from changes in long-term liability and stockholders’ equity items. 6. The typical cash receipts and cash payments of a business entity classified according to operating, investing, and financing activities are shown below. Operating Activities Cash inflows From sales of goods or services. From returns on loans (interest) and on equity securities (dividends). Cash outflows To suppliers for inventory. To employees for services. To government for taxes. To lenders for interest. To others for expenses. Investing Activities Cash inflows From sale of property, plant, and equipment. From sale of debt or equity securities of other entities. From collection of principal on loans to other entities. Cash outflows To purchase property, plant, and equipment. To purchase debt or equity securities of other entities. To make loans to other entities. Financing Activities Cash inflows From sale of equity securities. From issuance of debt (bonds and notes). Cash outflows To stockholders as dividends. To redeem long-term debt or reacquire capital stock.
HOW TO POST PETTY CASH PAYMENTS USING EXCEL ACCOUNTING SOLUTIONS FOR SMEs
 
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HOW TO POST PETTY CASH PAYMENTS USING EXCEL ACCOUNTING SOLUTIONS FOR SMEs
Views: 16 Nwanakwo Umoh
Accounting Entry for Payment through Cheque
 
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Did you liked this video lecture? Then please check out the complete course related to this lecture, ACCOUNTING BASICS A COMPLETE STUDY with 300+ Lectures, 28+ hours content available at discounted price (only Rs.640)with life time validity and certificate of completion. https://www.udemy.com/fundamentals-of-accounting-a-complete-study/?couponCode=YTBABCS56 ---------------------------------------------------------------------------------------------------------------- Welcome to one of the comprehensive ever course on Accounting Basics. This course starts from “What is Accounting”, “Need for Accounting” to various Practical aspects in Accounting. Enjoy lectures for each and every concept in accounting presented in digital hand written format followed by Solved Case Studies Video. New videos are being added at frequent intervals and this course will be the longest one in Accounting soon. ---------------------------------------------------------------------------------------------------------------- Welcome to Accounting Basics - A Complete Study Course! This is one of the comprehensive course in Fundamentals of Accounting covering theory as well as practice. In this course, you will learn Fundamentals of Accounting, step by step covering the following: Section 1: a) Introduction to Accounting; b) Book Keeping; c) Accounting – Objectives and Process; d) Accounting Cycle; e) Accountancy, Accounting and Book Keeping; f) Users of Accounting Information; g) Branches of Accounting; h) Basic Accounting Terms; i) Basic Assumptions in Accounting; j) Basic Concepts in Accounting; k) Modifying Principles of Accounting; l) Accounting Standards; Section 2: m) Double Entry System in Accounting; n) Accounting Equation; o) Golden Rules of Accounting; Section 3: p) Source Documents; q) Cash Memo; r) Invoice; s) Receipt; t) Debit Note; u) Credit Note; v) Pay in Slip; w) Cheque; x) Vouchers; Section 4: y) Books of Original Entry; z) Journal and Format aa) Steps in Journalising; bb) Journal Illustrations; cc) Compound Journal Entry; Section 5: dd) Ledger; ee) Utility of Ledger; ff) Format of Ledger; gg) Posting; hh) Procedure for Posting; ii) Posting of Compound Journal Entry; jj) Posting the Opening Entry; kk) Balancing an Account; ll) Significance of Balancing; mm) Balancing of Different Accounts; nn) Procedure for Balancing; Section 6 - covering Trial Balance and Final Accounts. 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. • Category: Business What's in the Course? 1. Over 206 lectures and 20 hours of content! 2. Understand need and importance of Accounting 3. Understand Book Keeping, Objectives and Advantages 4. Understand Accounting Process, Accounting Cycle, 5. Understand Users of Accounting Information 6. Understand Branches of Accounting 7. Understand Basic Accounting Terms 8. Understand Accounting Assumptions, Concepts and Principles 9. Understand Rules of Accounting 10. Understand Journal, Ledger, Trial Balance and Final Accounts Preparation Course Requirements: 1. No basic knowledge is required 2. Students can approach this course with fresh mind Who Should Attend? 1. Any one interested in Learning Accountancy 2. Accounting / Finance / Science Students 3. Entrepreneurs
Views: 8977 CARAJACLASSES
SapphireOne ERP, CRM & Accounting Software: Entering a Cash Payment
 
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This movie demonstrates how to enter a Cash Payment from the Payables menu in the Accounts mode of the SapphireOne ERP, CRM and Accounting Software solution. Other content: - Menu design - Paper Clip - Management Review tabs - Standing Transactions
Views: 4264 SapphireOne
(CRASH COURSE) Cash Book Accounting Tutorial In Hindi(PART 2)
 
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What is a 'Cash Book' A cash book is a financial journal that contains all cash receipts and payments, including bank deposits and withdrawals. Entries in the cash book are then posted into the general ledger. Larger firms usually divide the cash book into two parts: the cash disbursement journal that records all cash payments, such as accounts payable and operating expenses, and the cash receipts journal, which records all cash receipts, such as accounts receivable and cash sales. 'Cash Book' The cash book is set up as a ledger in which all cash transactions are recorded according to date. It is a book of original entry and final entry. That is, the cash book serves as the general ledger. There is no need, as in a cash account, to transfer to a general ledger. Cash Book vs. Cash Account There are differences between a cash book and a cash account. A cash book is a separate ledger in which cash transactions are recorded, whereas a cash account is an account within a ledger. A cash book serves the purpose of both journal and ledger, whereas a cash account is structured like a ledger. Details or narration are required in a cash book, but not in a cash account. Finally, cash books use a ledger folio, while cash accounts use a journal folio. There are numerous reasons why a business might record transactions using a cash book instead of a cash account. Daily cash balances are easy to access and determine. Mistakes can be detected easily through verification, and entries are kept up-to-date, since the balance is verified daily. Cash Book Format All transactions in the cash book have two sides: debt and credit. All cash receipts are recorded on the left hand side, and all cash payments are recorded by date on the right hand side. The difference between the left and right side shows the balance of cash on hand, which always shows a debit balance. The cash book is set up in columns. The date column is the date of the transaction. In the first line, the accountant inputs the year, and in the second line, the accountant inputs the name of the month, followed by the date. In the next column, the accountant inputs the name of the opposite or contra account, along with a small description or narration of the transaction. In the ledger folio column, the accountant inputs the number of the ledger that holds the account, and the amount of the transaction. If the transaction comes with a voucher, that column may be added as well.
Views: 4715 How To Do Accounting
Small Business Tips - 2 - Banking and Cash Payments
 
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Banking and cash payment tips for small businesses. http://www.dwmbeancounter.com In a nutshell, my site Bean Counter is primarily an accounting educational and training site that offers free beginning bookkeeping and accounting tutorials, courses, exams, tests, quizzes, and games with a dose of humor injected. - See more at:
Views: 332 Bean Counter
Accounting Methods-Cash & Accrual
 
01:52
Cash & Accrual Accounting Methods http://www.dwmbeancounter.com Cash Method or Basis of accounting recognizes revenue (earnings) in the period the cash is received and expenses in the period when the cash payments are made. Accrual Method or Basis of accounting records income in the period earned and records expenses in the period incurred. Free Accounting and Bookkeeping Help http://www.dwmbeancounter.com In a nutshell, my site Bean Counter is primarily an accounting educational and training site that offers free beginning bookkeeping and accounting tutorials, courses, exams, tests, quizzes, and games with a dose of humor injected.
Views: 3405 Bean Counter
Overview & Purpose of Statement of Cash Flows | Intermediate Accounting | CPA Exam FAR | Chp 23 p 1
 
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cash flow statement tutorial, cash flow statement explained, cash flow statement analysis, cash flow statement direct method, how to prepare cash flow statement, cash flow statement direct vs indirect, cash flow statement direct vs indirect, Cash flow statement FAR, Financial Accounting Reporting,FAR,FAR CPA Review,FAR CPA Exam,FAR CPA Lectures, Roger CPA FAR,CPA Exam FAR Tips, ,how to pass the CPA exam,how to study for the cpa exam,becker,cpa exam,cpa, CPA exam Tutor,CPA exam Tutoring, video, FAR video, Free FAR video The information in a statement of cash flows should help investors, creditors, and others to assess: (1) the entity’s ability to generate future cash flows; (2) the entity’s ability to pay dividends and meet obligations; (3) the reasons for the difference between net income and net cash flow from operating activities; and (4) the cash and noncash investing and financing transactions during the period. The required presentation of the statement of cash flows provides financial statement users with information about the major sources and uses of cash during the fiscal period. Classification of Cash Flows 3. The statement of cash flows classifies cash receipts and cash payments by operating, investing, and financing activities. Operating activities include all transactions and events that are not investing and financing activities. Operating activities include the cash effects of transactions that enter into the determination of net income, such as cash receipts from sales of goods and services, and cash payments to suppliers and employees for acquisitions of inventory and expenses. Operating activities involve income determination items. 4. Investing activities include (a) making and collecting loans, and (b) acquiring and disposing of investments and productive long-lived assets. Investing activities involve cash flows generally resulting from changes in long-term asset items. 5. Financing activities involve liability and stockholders’ equity items and include (a) obtaining cash from creditors and repaying the amounts borrowed, and (b) obtaining capital from owners and providing them with a return on, and return of, their investment. Financing activities involve cash flows generally resulting from changes in long-term liability and stockholders’ equity items. 6. The typical cash receipts and cash payments of a business entity classified according to operating, investing, and financing activities are shown below. Operating Activities Cash inflows From sales of goods or services. From returns on loans (interest) and on equity securities (dividends). Cash outflows To suppliers for inventory. To employees for services. To government for taxes. To lenders for interest. To others for expenses. Investing Activities Cash inflows From sale of property, plant, and equipment. From sale of debt or equity securities of other entities. From collection of principal on loans to other entities. Cash outflows To purchase property, plant, and equipment. To purchase debt or equity securities of other entities. To make loans to other entities. Financing Activities Cash inflows From sale of equity securities. From issuance of debt (bonds and notes). Cash outflows To stockholders as dividends. To redeem long-term debt or reacquire capital stock.
ACCOUNTING FOR NON PROFIT ORGANISATION ( RECEIPTS AND PAYMENT A/C, INCOME AND EXPENDITURE A/C)
 
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This video contains accounting for non profit organisation . It includes RECEIPTS AND PAYMENT A/C and INCOME EXPENDITURE A/C
Views: 17382 ECLAT INTERNATIONAL
100.110 Pay Employee with Cash Transaction Accounting Equati
 
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Accounting transaction for paying employee with cash using accounting equation showing effect on assets liabilities and equity. 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
Advanced Accounting - Partnership Liquidation
 
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Walk-through of a lump-sum liquidation of a 3-partner partnership.
Views: 15678 O'Reilly Accounting
Petty Cash Accounting (Impressed Petty Cash System, Detailed Accounting Example)
 
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Accounting for petty cash for paying miscellaneous company expenses which would be impratical to pay by check (employees are paid back from the petty cash fund for expenses they incurred on behave of the company), the petty cash account is an impressed account it always has the same balance, petty cash is setup as a cash box where cash is taken out and receipts are deposited, when the amount of petty cash remaining gets low petty cash funds must be replenished, the company transfers cash (from the cash account) equal to the total of all the receipts in the box (plus or minus any overages or shortages), debiting the appropriate account (per the receipt record) and crediting cash account, cash in the amount of the transfer goes into the petty cash box, to bring the total petty cash back up to the imprested amount, no entry is made to the petty cash account since its balance should always be the original amount funded (impressed amount), unless its determined the petty cash account should be either increased or decreased, the example shows how to setup the petty cash account and how to account for the receipts for cash payments made out of petty cash,to replenish the petty cash fund will include a credit to cash for the disbursements made (this is the amount needed to get the petty cash on hand back to the imprest amount), for the receipts of payments made out of petty cash the proper expense account has to be debited, for any shortages or overages in the petty cash account an account is setup for cash over and short (if petty cash fund fails to prove out, if short debit account, if over credit account), detailed accounting example by Allen Mursau
Views: 36006 Allen Mursau
Statement of Cash Flows--Introduction | Financial Accounting | CPA Exam FAR | Chp 16 p 1
 
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Purpose and Usefulness of the Statement of Cash Flows 2. (L.O. 1) The information in a statement of cash flows should help investors, creditors, and others to assess: (1) the entity’s ability to generate future cash flows; (2) the entity’s ability to pay dividends and meet obligations; (3) the reasons for the difference between net income and net cash flow from operating activities; and (4) the cash and noncash investing and financing transactions during the period. The required presentation of the statement of cash flows provides financial statement users with information about the major sources and uses of cash during the fiscal period. Classification of Cash Flows 3. The statement of cash flows classifies cash receipts and cash payments by operating, investing, and financing activities. Operating activities include all transactions and events that are not investing and financing activities. Operating activities include the cash effects of transactions that enter into the determination of net income, such as cash receipts from sales of goods and services, and cash payments to suppliers and employees for acquisitions of inventory and expenses. Operating activities involve income determination items. 4. Investing activities include (a) making and collecting loans, and (b) acquiring and disposing of investments and productive long-lived assets. Investing activities involve cash flows generally resulting from changes in long-term asset items. 5. Financing activities involve liability and stockholders’ equity items and include (a) obtaining cash from creditors and repaying the amounts borrowed, and (b) obtaining capital from owners and providing them with a return on, and return of, their investment. Financing activities involve cash flows generally resulting from changes in long-term liability and stockholders’ equity items. 6. The typical cash receipts and cash payments of a business entity classified according to operating, investing, and financing activities are shown below. Operating Activities Cash inflows From sales of goods or services. From returns on loans (interest) and on equity securities (dividends). Cash outflows To suppliers for inventory. To employees for services. To government for taxes. To lenders for interest. To others for expenses. Investing Activities Cash inflows From sale of property, plant, and equipment. From sale of debt or equity securities of other entities. From collection of principal on loans to other entities. Cash outflows To purchase property, plant, and equipment. To purchase debt or equity securities of other entities. To make loans to other entities. Financing Activities Cash inflows From sale of equity securities. From issuance of debt (bonds and notes). Cash outflows To stockholders as dividends. To redeem long-term debt or reacquire capital stock. 7. Some cash flows relating to investing or financing activities are classified as operating activities. For example, receipts of investment income (interest and dividends) and payments of interest to lenders are classified as operating activities. Conversely, some cash flows relating to operating activities are classified as investing or financing activities. For example, the cash received from the sale of property, plant, and equipment at a gain, although reported in the income statement, is classified as an investing activity, and the effect of the related gain is not included in net cash flow from operating activities. Likewise a gain or loss on the payment of debt is generally part of the cash outflow related to the repayment of the principal amount borrowed and, therefore, is a financing activity. Preparing the Statement of Cash Flows 8. (L.O. 2) The information used to prepare the statement of cash flows generally comes from three major sources: (a) comparative balance sheets, (b) the current income statement, and (c) selected transaction data. Actual preparation of the statement of cash flows involves three steps: a. Determine the change in cash. The difference between the beginning and ending cash balance can be easily computed from an examination of the comparative balance sheets. b. Determine the net cash flow from operating activities. This procedure involves analyzing not only the current year’s income statement, but also comparative balance sheets, as well as selected transaction data. c. Determine the net cash flows from investing and financing activities. All other changes in the balance sheet accounts must be analyzed to determine their effect on cash. operating, investing, financing, operating activities, financing activities, investing activities, cash flows statement, statement of cash flow, financial statement, cash inflow, cash outflow, net cash used, net cash provided, non cash activities, direct method of cash flow, indirect method of cash flow, cash flow to total assets,
How to Create Day Book Report in Excel in hindi step by step
 
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In this video Payment Record | Receipt Record | Day Book Step by step Download Practice File daoodcomputercentre.com
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Cash payment from your retirement savings - Royal London
 
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Have all your savings paid as a cash lump sum.
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INternal Control over Cash Disbursments Financial Accounting CPA Exam FAR
 
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Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ Companies disburse cash for a variety of reasons, such as to pay expenses and liabilities or to purchase assets. Generally, internal control over cash disbursements is more effective when companies pay by check or electronic funds transfer (EFT) rather than by cash. One exception is payments for incidental amounts that are paid out of petty cash
SQL ACCOUNTING SYSTEM GST 041 GL CASH BOOK ENTRY
 
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www.syntech.com.my I always say, cash Book Entry, Payment Voucher is the easiest place that an user will make mistake in selecting Tax Code in SQL Accounting System.
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Example   Petty Cash Fund Financial Accounting CPA Exam FAR
 
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Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ using checks to pay small amounts is both impractical and a nuisance. For instance, a company would not want to write checks to pay for postage due, working lunches, or taxi fares. A common way of handling such payments, while maintaining satisfactory control, is to use a petty cash fund to pay relatively small amounts. The operation of a petty cash fund, often called an imprest system, involves (1) establishing the fund, (2) making payments from the fund, and (3) replenishing the fund.
Advanced Accounting 1-3 Lecture
 
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AA 1-3 Lecture Accounting II Journalizing and Posting Cash Payments
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