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The Accounting Prof
Registrace 2. 02. 2018
I make videos that help accounting students understand the basics of financial accounting, including the recording of economic transactions, the reporting of financial activity on financial statements, and the analysis of financial statement information.
Cash Receipt and Disbursement Processes
This video gives students a high level introduction into the cash receipt and cash disbursement processes of companies.
zhlédnutí: 2 561
Video
Careers in Accounting
zhlédnutí 1,6KPřed 2 lety
This video introduces students to the growing demand for accountants and career opportunities awaiting them.
Data Analytics (Receivables)
zhlédnutí 1KPřed 2 lety
This video introduces students to the ways data analytics can be used to help companies manage their receivables.
Data Analytics (Inventory)
zhlédnutí 1,4KPřed 2 lety
This video introduces students to the ways data analytics can be used to help companies manage their inventory.
Data Analytics (Credit Sales)
zhlédnutí 437Před 2 lety
This video introduces students to the ways data analytics can be used to help companies manage credit sales.
Data Analytics (Overview)
zhlédnutí 520Před 2 lety
This video provides an overview of the different types of data analytics and how they pertain to accounting.
Excel Tutorial: Protecting and Hiding Sheets for Private Information Distribution
zhlédnutí 644Před 2 lety
In this video, I show how to use Excel's workbook/sheet hiding and protection capabilities to safely distribute private information to a group. My example describes disseminating grades to students, but it could be applied to a variety of information distribution scenarios.
Estimating Bad Debts (Percent of Credit Sales)
zhlédnutí 2,3KPřed 2 lety
This video shows students how companies estimate their bad debts using the Percent of Credit Sales method of estimation.
Cash Flows From Operating Activities (Direct Method)
zhlédnutí 2,9KPřed 2 lety
This video walks students through preparing the Operating Cash Flows section of the Direct Method Statement of Cash Flows.
Stick Figure Accounting: Inventory Purchase Discounts
zhlédnutí 367Před 2 lety
This video explains the concept of recording Inventory Purchase Discounts in a Perpetual Inventory System in an easy-to-understand way using crudely drawn stick figures.
Excel Tutorial: Conditional Formatting in an Indirect Method Statement of Cash Flows
zhlédnutí 1,9KPřed 2 lety
This video shows how Microsoft Excel's conditional formatting tool can be used to automatically color grade a series of numerical values or automatically highlight the largest and smallest values in a range using an Indirect Method Statement of Cash Flows as an example data source.
Statement of Cash Flows Activity
zhlédnutí 967Před 2 lety
This video discusses the differences between operating, investing, and financing activities of companies from the perspective of their classification on the Statement of Cash Flows.
Unearned Revenue
zhlédnutí 1,4KPřed 2 lety
This video introduces students to the concept of unearned revenue and walks them through accounting for unearned revenue transactions.
Practice Problem PPE-01: Characteristics of Fixed Assets and Depreciation
zhlédnutí 641Před 2 lety
This video contains a series of practice questions putting students' knowledge of fixed assets and depreciation to the test.
Excel Tutorial: Conditional Formatting in a Balance Sheet
zhlédnutí 2,6KPřed 2 lety
In this video I demonstrate two ways to use conditional formatting in Microsoft Excel that can be useful to analyzing a balance sheet: 1) visually identifying when assets are in balance with liabilities and shareholders' equity; and 2) coloring scaling an analysis such as the debt-to-asset ratio within a pre-defined range of acceptability.
Excel Tutorial: Conditional Formatting in a Multi-Step Income Statement
zhlédnutí 2KPřed 2 lety
Excel Tutorial: Conditional Formatting in a Multi-Step Income Statement
Excel Tutorial: Conditional Formatting in a Single Step Income Statement
zhlédnutí 6KPřed 2 lety
Excel Tutorial: Conditional Formatting in a Single Step Income Statement
Stick Figure Accounting: Inventory Cost Flows
zhlédnutí 257Před 2 lety
Stick Figure Accounting: Inventory Cost Flows
Practice Problem CASH-04: Mastering the Bank Reconciliation
zhlédnutí 680Před 2 lety
Practice Problem CASH-04: Mastering the Bank Reconciliation
Emerging Technology in Business and Accounting
zhlédnutí 607Před 2 lety
Emerging Technology in Business and Accounting
Practice Problem TECH-01: Emerging Technology
zhlédnutí 16KPřed 2 lety
Practice Problem TECH-01: Emerging Technology
Practice Problem TRANS-03: Types of Economic Transactions
zhlédnutí 205Před 2 lety
Practice Problem TRANS-03: Types of Economic Transactions
Practice Problem SCF-04: Mastering the Indirect Method Statement of Cash Flows
zhlédnutí 14KPřed 2 lety
Practice Problem SCF-04: Mastering the Indirect Method Statement of Cash Flows
Practice Problem SCF-03: Preparing the Indirect Method Statement of Cash Flows
zhlédnutí 958Před 2 lety
Practice Problem SCF-03: Preparing the Indirect Method Statement of Cash Flows
Practice Problem SCF-02: Significant Non-Cash Activities
zhlédnutí 228Před 2 lety
Practice Problem SCF-02: Significant Non-Cash Activities
Practice Problem SCF-01: Elements of the Indirect Method Statement of Cash Flows
zhlédnutí 234Před 2 lety
Practice Problem SCF-01: Elements of the Indirect Method Statement of Cash Flows
Cash Flows From Investing and Financing Activities
zhlédnutí 4,1KPřed 2 lety
Cash Flows From Investing and Financing Activities
Cash Flows From Operating Activities (Indirect Method)
zhlédnutí 4,9KPřed 2 lety
Cash Flows From Operating Activities (Indirect Method)
Great
For the first example, could I also debit dividends declared instead of retained earnings?
I was impressed by how thoroughly you explained the intricacies of EPS. Thank you, Prof!
Thanks this was very clear and straight to the point
Excellent explanation. Thank you!
Thanks for the amazing explanation
best video on this topic on CZcams by a long shot, you should be at a million views. Every accounting student needs this!
VERY VERY USEFULL TO ME, THANKS
Finally a honest video showing how the financial statements are impacted and the trade-off which is inevitable - this gets so overlooked. Thanks!
7:44 Hey, 200 is konw to be uncollectible, so 800 is back to AR correct? I am confused.
Hi there, the 800 will remain in A/R until known to be uncollectible (like the 200), and the company will maintain an 800 Allowance for as long as it continues to believe the 800 won’t be collected. Hope this helps!
Wow, well explained ✌️✌️ thank you so much 🙌🙌
i will try not to mix assignment of responsibilities with segregation of duties
Suppose the qns ask for land improvement account then do we add the landscaping amount to land improvement or not?
Hi there! Yes, landscaping would be capitalized to land improvements.
Sun Tzu: 'Know the enemy, know yourself, win a hundred battles.' I can apply this strategy into accounting learning and will success. Logically analyzing the nature of each booking it critical in accounting booking!
Crystal clear for students! Appreciate very much, Sir!
It seems there is loop hole where I can record an Expense out of thin air by recording a Bad Debt Expense. I will assume a portion of AR will not be collectible this year (2024) 10,000 Bad Debt Expense. Next Year (2025 )it was collected AR recover and close cash received, however Bad debt expense was incurred last year for nothing
Or record a Prior Period Adjustment to close the allowance for DA for 2025?
Very well explained. Thank you!
what if there are inventories ? are we gonna substract it from current assests ?
Hi there! No, the current ratio considers all easily liquidated assets, including inventory. I believe what you are referring to is the Quick Ratio, which excludes certain current assets such as inventory.
Great summary
Your explanation is tooo good sir actually I’m from Telugu background student, but I’m understanding your English very clearly
Exactly the same as my textbook in 2024.
Still does not make sense The accounts receivable has now been collected so there must be no balance from allowance instead there is. For example: Recording Estimate of Bad Debts: Bad Debts Expense: 10k Allowance... 10k Writting of: Allowance... 10k A/R. 10K Recovery: A/R. 10k Allowance... 10k Cash. 10k A/R. 10k The accounts receivable has now 0 balance but there is still allowance for doubtful accounts
Allowances are recorded as adjusting journal entries at each period end. In your example, the entire A/R balance has been collected by period end, so the remaining allowance would then be reversed since it is no longer needed: Dr Allowance, Cr Bad Debt Expense.
@TheAccountingProf Thank you Prof
When selling an asset. What do we consider? The recoverable amount or the net fair value?
If you’re referring to determining the gain or loss on the sale, only the recoverable amount (what you can actually get for it) matters. The fair value (what it is actually worth) is irrelevant unless someone pays you that amount.
Thank you❤❤❤.
Good job, but too many assumptions in PPE, As I have understood, the main idea is to get the CHANGES (+ or -) that have cash transactions. As for PPE , the book value decreased for 10 and created 60 as gain. But initial values not clear, are they book (net) value or accusition value
wow so easy and useful, thank you.
Great explanation, many thanks.
That is a great explanation, many thanks.
you sounded like sheldon cooper, sir 😅😊
Good explanation... Those who didn't understand... Do not speedup the video watch as it is
Informative video
na gets ko rin 😭😭😭😭😍😍😍😍
Once again, great teaching
Come to think of it, I had wondered why par values were often in tiny amounts. Kumbe it is typically to avoid liability! Thanks for the lesson.
The classifications really help clarify terminologies I see often. Great explanation!
That bit on treasury stock was good to know. Thank you!
It's a leverage ratio not solvency ratio
Hi there! Leverage ratio is just an alternate name for solvency ratio. But thanks for pointing this out for those who may be more familiar with the former!
@@TheAccountingProf thank you so much I have many information overlap So can you make it more clear why leverage is an alternate name for solvency ?
@@nourosama7010 Sure! Solvency refers to a company’s ability to pay debts. Leverage refers to how indebted a company is. The more indebted, the less able to pay. Hence why they are essentially different words capturing the same concept, especially with respect to financial ratios.
Another question please.. You said we are examining the long-term obligations of the company but in fact we are dividing the total liability not not term liability.?
@@nourosama7010 Good question! You are correct that we are technically examining all obligations. I only use the phrase “long term” in contrast to “short term” analyses such as the Current Ratio, which only focus on current assets and current liabilities.
Thanks a bunch It’s really very helpful to learn from real time examples. Great initiative❤
Awesome
Thank you for the clear explanation. Can I ask you why the outflow of cash for purchase of equipment is called "capital" expenditure? I am confused because "capital" sounds like equity capital which typically is classified as financing cash flow.
Hi there! Long-lived fixed assets, such as equipment, are commonly referred to as “capital.” Just like equity capital, these assets are part of the company’s “capital structure.” The terms equity (for equity capital) and debt (for debt capital) designate those types as financing activities.
Thank you very much for making this video❤❤
I've been trying to understand this from the textbook for an hour and you just explained it so simply in four minutes. Thank you thank you thank you!!!
But didn’t mention with internal control actually got 2tyoes one is direct control one is indirect control
Excellent explanation! Thank you so much!
Excellent explanation! Thank you so much!
Very helpful, you are the best!
Excellent explanation! Thank you so much!
Well explained. Thank you.
I have a test at 8 am. Before this video, I thought I'd fail. But not anymore..... Thank you accounting prof! 😊
Best video