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Review of Financial Accounting - Principles, Assumptions, & Constraints
 
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For more videos like this go to www.patrickleemsa.com. Join Robinhood and we'll both get a share of stock like Apple, Ford, or Sprint for free. To do so, make sure you click on this link: https://share.robinhood.com/patrickl803 ___________________________________ NETWORK WITH ME! PATRICKLEECPA Twitter - https://twitter.com/patrickleecpa Website – https://www.patrickleecmsa.com ___________________________________________ Send a letter or send something cool about how you’re using these videos. Patrick Lee, MSA PO Box 936 Winfield, Kansas 67156 ___________________________________________ WORK WITH ME! CONTACT US: [email protected]
Views: 11407 Patrick Lee
Learn Accounting in 1 HOUR  First Lesson: Debits and Credits
 
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The ultimate video for new accounting students to learn basic accounting principles and accounting mechanics. This video assumes you know NOTHING and by the end of it, has you reading fortune 500 company financial statements. Learn more and become student at EF University for FREE - http://executivefinance.teachable.com/ Like us Facebook- https://www.facebook.com/exfinance/ Linkedin- https://www.linkedin.com/company/executive-finance Twitter- https://twitter.com/exfinance
Views: 1228616 Executive Finance
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: 153187 AccoFina
Principles of Accounting - Lecture 01a
 
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Principles of Accounting; deifition; identify; record; communicate; organization, interested users; financial statements; stakeholders; internal users; external users; management; human resources; finance; customers; SEC; creditors; labor unions; investors; pay raise; dividend; ethics; financial scandals; Sarbanes-Oxley; balance sheet; income statement; GAAP; FASB; IASB; cost principle; historical cost; purchase price; verifiability; fair value;
Views: 374360 Krassimir Petrov
Chapter 1 Principles of Accounting
 
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Animated PowerPoint for chapter one
Views: 28533 Marc Christofferson
Accounting principle in hindi
 
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Plz check my videos on YouTube Share, subscribe and comment
Views: 27963 study with chanchal
GAAP Generally Accepted Accounting Principles | Financial Accounting | CPA Exam FAR
 
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Website: 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/
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: 1754441 CPA Strength
Financial Accounting - Chapter 2: Analyzing transactions
 
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A video summary of chapter 2 in Perdisco's Financial Accounting 360Textbook. To find out more, visit www.perdisco.com/finacc
Views: 69124 perdiscotv
Accounting Terms and Accounting Principles - Financial Accounting video
 
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Accounting Terms and Accounting Principles - Financial Accounting video introduces the foundational terminology necessary in accounting and business. Accounting Terms and Accounting Principles introduces the distinction between financial accounting and managerial accounting. Accounting Terms and Accounting Principles briefly introduces accounting concepts, accounting terms and accounting principles with examples. Accounting lecture notes: http://theaccountingdr.blogspot.com/p/lecture-notes.html -- Accounting Terms and Accounting Principles video by TheAccountingDr at http://youtu.be/PDDGzBZlqy0 Find this video with complete transcript of lecture notes at http://theaccountingdr.hubpages.com/hub/Accounting-Equation Other videos in this series: Part 2 - The Accounting Equation Part 3 - The Revenue Recognition and Matching Principles Part 4 - The Financial Statements -- Thank you all for your wonderful support. Because of your support we have been able to reach and help numerous accounting students. Please continue to be a part of our mission to help other accounting students be successful by giving our videos thumbs up and adding our videos to your favorites. -- For more accounting/how to eLectures (and accompanying lecture notes), blog, FAQs and eBooks visit www.TheAccountingDr.com Please note that videos may require Flash media and may not play on devices without Flash capabilities (i.e. iPad) - If the video doesn't play on YouTube you can view it at www.TheAccountingDr.com
Financial Accounting: GAAP Principles and Concepts
 
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For best viewing, switch settings to 1080p Help us caption & translate this video! http://amara.org/v/FgKs/
Views: 28866 ProfAlldredge
Accounting Concepts and Accounting Principles with Examples - Financial Accounting Video
 
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Accounting Concepts and Accounting Principles with Examples - Financial Accounting video is a discussion on what financial accounting is with a few more basic accounting concepts and accounting principles that help to form the foundational accounting conceptual knowledge. Accounting Concepts and Accounting Principles with Examples - Video by TheAccountingDr: http://youtu.be/BotMSWO6aj4 -- Accounting lecture notes: http://tiny.cc/nw1enw Thank you all for your wonderful support. Because of your support we have been able to reach and help numerous accounting students. Please continue to be a part of our mission to help other accounting students be successful by giving our videos thumbs up, giving comments and adding our videos to your favorites. Subscribe: http://www.youtube.com/subscription_center?add_user=routhwsuedu Friend me on Facebook: http://www.facebook.com/TheAccountingDoctor -- Find the Accounting Concepts and Accounting Principles video with complete transcript of lecture notes at http://theaccountingdr.hubpages.com/hub/Accounting-Equation For more on accounting concepts and accounting principles, accounting/how to eLectures (and accompanying lecture notes), eBooks, FAQs and blog visit http://www.TheAccountingDr.com. Please note that videos may require Flash media and may not play on devices without Flash capabilities (i.e. iPad). If you are having difficulty viewing this video on YouTube, these videos may also be viewed without Flash on my website at http://www.TheAccountingDr.com.
Financial Accounting Chapter 1 Lecture - Part 1
 
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Financial Accounting Chapter 1 Lecture - Part 1
Views: 155695 MsNshoe
Financial Accounting Standards Board (FASB)
 
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This video describes the structure and role of the Financial Accounting Standards Board (FASB). The FASB is a nonprofit organization that creates accounting standards for companies in the United States. The FASB has seven board members that are appointed by the Financial Accounting Foundation, which oversees the FASB's activities. FASB board members serve a 5-year term and work for the FASB full-time (they must sever ties with their former employer). The FASB board members periodically issue a new accounting standard, which is referred to as an Accounting Standard Update (ASU) because it amends the Accounting Standard Codification (ASC). Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 7892 Edspira
Financial Accounting Standards  | Intermediate Accounting | CPA Exam FAR | Chp 1 p 1
 
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Please like and share my Facebook page: https://www.facebook.com/accountinglectures/ The  essential  characteristics  of  accounting  are  (1)  the  identification, measurement,  and  communication  of  financial  information  about  (2)  economic  entities  to  (3)  interested  parties.  Financial  accounting  is  the  process  that  culminates  in  the  preparation  of  financial reports on the enterprise for use by both internal and external parties.  3.  Financial statements are the principal means through which a company communicates  its financial information to those outside it. The financial statements most frequently provided are  (1)  the  balance  sheet,  (2)  the  income  statement,  (3)  the  statement  of  cash  flows,  and  (4)  the  statement  of  owners’  or  stockholders’  equity.  Note  disclosures  are  an  integral  part  of  each  financial statement. Other means of communication information that might not be included in the  financial  statements  include  the  president’s  letter  or  supplementary  schedules  in  the  corporate  annual  report,  prospectuses,  reports  filed  with  government  agencies,  news  releases,  management forecasts, and social or environmental impact statements.  4.  Accounting is important for markets, free enterprise, and competition because it assists in  providing information that leads to capital allocation. The better the information, the more effective  the process of capital allocation and then the healthier the economy. The  objective  of  general  purpose  financial  reporting  is  to  provide  financial  information  about  the  reporting  entity  that  is  useful  to  present  and  potential  equity  investors,  lenders,  and  other creditors. General­purpose financial statements provide financial reporting information to a  wide variety of users.  6.  The objective of financial reporting identifies investors and creditors as the primary users  for  general­purpose  financial  statements.  As  part  of  the  objective  of  general­purpose  financial  reporting, an entity perspective is adopted. Companies are viewed as separate and distinct from  their  owners. When  making  decisions,  investors  are  interested  in  assessing  (1) the  company’s  ability  to  generate  net  cash  inflows  and  (2)  management’s  ability  to  protect  and  enhance  the  capital providers’ investments.  7.  The  accounting  profession  has  developed  a  common  set  of  standards  and  procedures  known  as  generally  accepted  accounting  principles  (GAAP).  These  principles  serve  as  a  general  guide  to  the  accounting  practitioner  in  accumulating  and  reporting  the  financial  information of a business enterprise.
101 Ethics, profession, and Generally Excepted Accounting Principles-Accounting instructions
 
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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
Generally Accepted Accounting Principles(GAAP): Financeera
 
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A video explains the concept of Accounting Principles in detail. Highly recommended and useful for beginners in accounting or non- accounting and finance professional
Views: 12496 Gaurav sharma
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
Introduction to GAAP (Generally Accepted Accounting Principles)
 
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This video discusses Generally Accepted Accounting Principles (GAAP). GAAP refers to the common set of rules companies must follow when preparing financial reports for external parties (investors and creditors). Not all countries use the same GAAP. A country may adopt International Financial Reporting Standards or it may create its own local GAAP. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 48576 Edspira
Financial Accounting: Add'l GAAP Concepts & Principles
 
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Help us caption & translate this video! http://amara.org/v/GHlc/
Views: 2200 ProfAlldredge
Accounting Principles, concepts, conventions - Hindi
 
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This video series is aimed to give the intermediate students of telangana and AP syllabus a fast crash course in the subject. You will learn all about accounting principles, conventions and concepts in this video explained by a CMA. Mr. S.W. Ahmed is a qualified practicing CMA. He has been associated with Cognevo Institute of Excellence for over a decade now. He brings in a lot of value to our efforts with his expertise and experience. He works with various educational organisations like Chegg, Cengange & Coursehero etc.
Financial Accounting Principles - Principles of Advanced Accounting Equity Investments Part 1
 
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http://accountingcorner.org - FREE downloads In this video learn financial accounting principles, including how to account for acquisition of equity investment at the date of acquisition. Principles of advanced accounting area FREE downloads for all level of knowledge, including basic accounting, intermediate accounting and advanced accounting http://youtu.be/y7j3OYoKbOs Part 2 video here: http://www.youtube.com/watch?v=-QHBtQkvsr8
Views: 7706 FreeAccountingTutor
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
Full Disclosure Principle in Financial Reporting |Intermediate Accounting |CPA Exam FAR | Chp 24 p 1
 
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FULL DISCLOSURE PRINCIPLE, intermediate accounting, CPA exam, big GAAP versus little GAAP,, Accounting policies, Notes to the Financial Statements, MAJOR accounting DISCLOSURES
Accounting Principles - GAAP Principles Tutorial 9 of 10
 
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The 9th tutorial video on financial accounting continues to explain the GAAP. In this video Principles are covered. The cash and accrual basis of accounting is explained and so are the different methods of revenue recognition. Other concepts covered in this video are Matching concept, full disclosure and cost basis of accounting. Videos 7, 8 9 and 10 together cover details of financial accouting generally accepted Accounting Principles or GAAP.
Views: 10677 CXOLearningAcademy
#1 Basic Introduction of Financial Accounting
 
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#FinancialAccounting #DoubleEntrySystem Explained Modern System of Accounting and its Assumptions. Need and Advantages of Financial Accounting and Accounting Equation i.e. 'Double Entry System' of Accounting. Student can also watch following lectures of Accounting : 1. Bank Reconciliation Statement (BRS) https://www.youtube.com/watch?v=Ms3gFDeS-tE 2. Single Entry System of Accounting (Concept & Procedure) Statement of Profit and Loss : https://www.youtube.com/watch?v=XaQGJVvNNwQ 3. Rectification of Errors ~ Introduction and Concept : https://www.youtube.com/watch?v=gJL-GcupCz4 4. Bills of Exchange : https://www.youtube.com/watch?v=kRowni3g2gw Dwonload Assignments: https://drive.google.com/drive/folders/0BzfDYffb228JNW9WdVJyQlQ2eHc?usp=sharing
Views: 147936 CA. Naresh Aggarwal
FINANCIAL STATEMENTS, Principles of Accounting LECTURER-1 IN BANGLA
 
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FINANCIAL STATEMENT (BASIC ACCOUNTING) LECTURER-1 IN BANGLA. FINANCIAL ACCOUNTING or Principles of Accounting LECTURE FINANCIAL STATEMENT ANALYSIS FOR BBA, BBS, & MBS. 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. Financial Accounting. R kabir began operating as a privat investigator on January 1, 2013. the trail balance colomns of the work sheet for kabir at march 31. is as follows: R. kabir Work sheet ( partial) for the quarter ending march 31,2013 Accounts titles Trail balance Dabit tk. Credit tk. Cash Accounts receivable Supplies Prepaid insurance Equipment Notes payable Accounts payable Capital Drawing Service revenue Salaries expenses Travel expenses Rent expenses Miscellaneous expenses 14400 7620 1250 4400 38000 1600 2200 2000 2200 300 14,000 14,350 28,000 17620 total 73970 73970 Additional information: 1. supplies on hand total tk.650. 2. depreciation is tk. 500 per quarter. 3. interest accrued on 6- month note payable issued January 1 tk. 600 4. insurance expired at the rate of tk.250 per month. 5. Service provided but unbilled at march 31 total tk.950. Instructions: prepare an income statement and owners equity statement for the quarter r. kabir did not make any additional investments in the business during the quarter ended march 31, 2013. r. kobir Income statement For the ended march31.2013 title tk Tk. Service revenue Add: accrued service revenue Expenses: Salaries exp Travel exp Rent exp Misc exp Supplies exp (1250-650) Depreciation exp Interest exp Insurances exp(250*3) Net income 17620 950 18570 (9150) 2200 2000 2200 300 600 500 600 750 9420 r. kobir Owner’s equity statement For the ended march 31, 2013. title tk Beginning capital Add: net income Less; Drawing Ending capital 28000 9420 37420 1600 35820 Balance sheet For the ended march 31, 2013. tk tk tk Assets Current assets cash a/r accrued s/r supplies on hand prepaid insurance less: Expired (2502*3) total current assets Property, plant and equipment Equipment Depreciation Total assets Liabilities and owners equity Notes payable a/p interest payable capital total liabilities and owners equty: 7620 950 14400 8570 650 3650 27270 37500 4400 750 38000 500 14000 14350 600 35820 64770 64770 ----------------------------------------------------------------------------------------- You can see my other videos... https://www.youtube.com/watch?v=xpjV3BkuiZY 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: 13700 Online Education BD
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.
Welcome to Financial Accounting Principles
 
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Course intro for fall 2018, MGMT e-1000 at Harvard Extension
Views: 65 Gregory Sabin
AS-1 : Disclosure of Accounting Policies & Principles || Financial Accounting || Short & Simple
 
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Useful for all commerce graduation students, CA , CS, ICWA, MCOM, BCOM and other courses related to accounts Learn from one of the most popular faculties in teaching in short and simple manner
Views: 17281 Ruchi2Learn
Introduction to Financial Accounting | Financial Accounting | CPA Exam FAR | Chp 1 p 1
 
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This video is introduction to financial accounting video that covers users of accounting information, accounting principles, accounting equation and GAAP. My website: https://farhatlectures.com/ Facebook page: https://www.facebook.com/accountingle... LinkedIn: https://goo.gl/Pp2ter Twitter: https://twitter.com/farhatlectures Email Contact: [email protected] Debit, credit, assets, assets, liabilities, equity, stockholders’ equity, revenues, expenses, expenses, cost of goods sold, gains, losses, GAAP, SEC, financial accounting, managerial accounting, CPA exam, balance sheet, income statement, general journal, general ledger. ledger
Financial Accounting - GAAP Principles and Concepts by Dave Alldredge
 
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THE KNOWTUBE : Motivational | Inspirational | Knowledgeable | Informational | Learning | Skill Development. Please subscribe my Youtube Channel and don't forget to press red bell icon for updated notifications. You may also follow: * facebook : https://www.facebook.com/faisykhan1 * Twitter : https://twitter.com/faisykhan2002 * LinkedIn : https://www.linkedin.com/in/faisal-ali-khan-4958081a/
Views: 786 THE KNOWTUBE
2- Chapter 1: Accounting Equation شرح ال
 
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Chapter One: Accounting in Action . Accounting Equation شرح ال . Book: Accounting Principles - Weygandt, Kimmel, Kieso
Managerial versus Financial Accounting; Accounting Equation; Accounting Principles - video
 
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Very brief review of financial accounting: accounting equation, matching principle, and revenue recognition principle; with a short discussion on the differences in financial and managerial accounting. Other Videos in this series: Part 2 - Service Company Part 3 - Merchandising Company Part 4 - Manufacturing Company Part 5 - Manufacturing Company Costs For more accounting/how to eLectures (and accompanying lecture notes), blog and a discount text-bookstore visit www.TheAccountingDr.com Please note that videos may require Flash media and may not play on devices without Flash capabilities (i.e. iPad)
FASB's Conceptual Framework for Accounting
 
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This video provides an overview of the conceptual framework created by the Financial Accounting Standards Board (FASB) to guide the development of Generally Accepted Accounting Principles (GAAP) in the United States. The conceptual framework includes the objective of financial reporting, the elements of financial reports (assets, liabilities, etc.), and the qualitative characteristics of accounting information. The conceptual framework also highlights assumptions that are made when preparing financial reports, as well as several principles and constraints that affect financial accounting. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 9626 Edspira
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: 39123 JOLLY Coaching
Adjusting entries. (Part-2) FINANCIAL ACCOUNTING or Principles of Accounting Bangla Lecture.
 
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Adjusting entries - FINANCIAL ACCOUNTING or Principles of Accounting Bangla Tutorial. (BBA, MBA, BBS, ) 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. Adjusting entries. Revenue + Liabilities -- (increase -----Cr)/(Dicrease----Dr) Expenses + Assets =(increase -----dr)/(Dicrease----cr) *****The following is the information of parama Enterprice on June 30,2007 Tk Tk Cash Accounts Receivable Supplies Notes Payable Capital Service Revenue Trail balance Salaries Expenses Rent Expenses Advertising Expenses Service Revenue recorded as revenue but tk.1,200 is payable, but not paid Salaries expenses totaling tk.1,000 is payable, but not paid. rent paid in advance amounting to tk. 2000 Supplies amounting to tk. 4,000 have been used. Interest accrued on notes payable is tk.500. Advertising expenses deferred for the next period amounting to tk.3,000. Service provided to two customers for total tk. 8,000 but not billed. Instruction: Journalize the adjusting entries on june 30, 2007. parama Enterprice Adjusting entries date Accounts title ref Debit credit 2007 June30 Service revenue Unlearn service revenue Salaries exp Salaries payable Prepaid rent Rent expenses Supplies exp supplies Interest expenses Interest payable Deferred advertisement Advertisement expenses Accounts receivable Service revenue ----------------------------------------------------------------------------------------------- You can see my other videos... Accounting Equation Part-2 (FINANCIAL ACCOUNTING) BANGLA Tutorial https://www.youtube.com/watch?v=KhSHV... leverage Part-1 Financial Management. https://www.youtube.com/watch?v=TyLkP... Set (সেট) Business Application, Lecturer-1 [ Business Mathematics] https://www.youtube.com/watch?v=2dJkG... Set Lecture-6 (Business Mathematics video lecture) https://www.youtube.com/watch?v=SopNA... Ven Diagtam [ Business Mathematics] https://www.youtube.com/watch?v=gZ213... Time Series Part-1 (Business Statistics) https://www.youtube.com/watch?v=f1wwj... Correlation Part-1 (BUSINESS STATISTICS.) BANGLE. https://www.youtube.com/watch?v=rCenc... https://www.youtube.com/watch?v=nkRdl... https://www.youtube.com/watch?v=I1-lP... https://www.youtube.com/watch?v=xPn5u... https://www.youtube.com/watch?v=iBAUz... https://www.youtube.com/watch?v=Yp0txpx95NA&t=1s
Views: 3011 Online Education BD
Basic Accounting Concepts
 
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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
Basic Accounting: IFRS Financial Reporting Principles
 
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Watch 1000s of finance videos for free and advance your career. https://bluebookacademy.com
Views: 2606 BlueBookAcademy.com
Financial Accounting - Chapter 6: Inventories
 
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A video summary of chapter 6 in Perdisco's Financial Accounting 360Textbook. To find out more, visit www.perdisco.com/finacc
Views: 44024 perdiscotv
#3 ACCOUNTING PRINCIPLES/CONCEPTS, AS, IFRS I CA CMA RAVI KUMAR I IMP FOR EVERY COMMERCE STUDENTS
 
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ACCOUNTING PRINCIPLES/CONCEPTS, AS, IFRS I CA RAVI KUMAR I IMPORTANT FOR EVERY COMMERCE STUDENTS I FREE EDUCATION FOR ALL I KEEP SHARING. GO TO PLAYLIST AND FIND YOUR SUBJECT AND START LEARNING.
Accounting Equation - Ch. 1 Video 1
 
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Accounting Principles - The Accounting Equation
Views: 393935 mattfisher64
Financial Accounting: Additional GAAP Concepts and Assumptions
 
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Help us caption & translate this video! http://amara.org/v/FvNI/
Views: 4376 ProfAlldredge
The Importance of GAAP
 
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A look at why financial statement users need Generally Accepted Accounting Principles (GAAP) to make better-informed decisions about whether to provide capital, lend or donate money, or whether or not to support a voter referendum.

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