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Notepirate
Канада
Добавлен 17 окт 2012
Learn Financial Accounting, Managerial (Cost) Accounting, Intermediate Accounting and Corporate Finance with Notepirate. Short videos, fast paced and clear illustrative examples! Our brand intends to cover every relevant topic which will allow students to prepare to become future CPA's (Certified Public Accountants). The material is perfect for high school, college and university business students.
Our main website is located at: www.notepirate.com
Our main website is located at: www.notepirate.com
Process Costing: FIFO Method (Cost Accounting Tutorial #31)
📢 Full course at a special price of only $10.00 found here: bit.ly/3m74DZ6 ($39 value).
⌚Timestamps
0:00 - Introduction
0:48 - Physical Flow Schedule
1:44 - Equivalent Units Calculation
5:24 - Cost Per Equivalent Unit
7:56 - COG Transferred Out and EWIP Valuation
16:08 - Cost Reconciliation
In this lesson I'll be creating a production report using an example problem, but this time, I'll be using the FIFO method. The FIFO method will affect our equivalent units, cost per equivalent unit as well as our cost of goods transferred out and EWIP account. It's a complicated method for process costing, but it should be learned as a CPA concept.
At the end, I'll illustrate the logic behind FIFO and we'll l...
⌚Timestamps
0:00 - Introduction
0:48 - Physical Flow Schedule
1:44 - Equivalent Units Calculation
5:24 - Cost Per Equivalent Unit
7:56 - COG Transferred Out and EWIP Valuation
16:08 - Cost Reconciliation
In this lesson I'll be creating a production report using an example problem, but this time, I'll be using the FIFO method. The FIFO method will affect our equivalent units, cost per equivalent unit as well as our cost of goods transferred out and EWIP account. It's a complicated method for process costing, but it should be learned as a CPA concept.
At the end, I'll illustrate the logic behind FIFO and we'll l...
Просмотров: 23 184
Видео
Process Costing: Weighted Average Method (Cost Accounting Tutorial #30)
Просмотров 43 тыс.6 лет назад
📢 Full course at a special price of only $10.00 found here: bit.ly/3m74DZ6 ($39 value). ⌚ Timestamps 0:00 - Introduction 1:45 - Physical Flow Schedule 4:20 - Calculate the Equivalent Units 7:25 - Cost per Equivalent Unit 11:20 - Cost of Goods Transferred Out and EWIP Valuation 13:30 - Cost Reconciliation In this lesson I'll be preparing a production report using the weighted average method. Mak...
Process Costing: Prepare a Production Report (Cost Accounting Tutorial #29)
Просмотров 24 тыс.6 лет назад
📢 Full course at a special price of only $10.00 found here: bit.ly/3m74DZ6 ($39 value). ⌚Timestamps 0:00 - Introduction 0:39 - Physical Flow Schedule 1:18 - Equivalent Units 2:25 - Cost Per Equivalent Unit 3:25 - COG transferred and EWIP Valuation 4:10 - Cost Reconciliation In this tutorial I wanted to provide a general overview of the production report, and cover the steps in which to complete...
Job Order Costing vs Process Costing (Cost Accounting Tutorial #28)
Просмотров 17 тыс.6 лет назад
📢 Full course at a special price of only $10.00 found here: bit.ly/3m74DZ6 ($39 value). ⌚Timestamps 0:00 - Introduction 0:25 - Job Order Costing vs. Process Costing 2:59 - Job Order Cost Accounting 7:00 - Process Cost Accounting In this lesson we'll look at the differences between job-order costing and process costing. We'll also see how costs flow through both job-order and process costing sys...
The Complete Financial Accounting Crash Course
Просмотров 42 тыс.7 лет назад
Receive 65% off the FULL Financial Accounting crash course on Udemy (Savings of $30 USD) with this coupon code: www.udemy.com/university-level-introduction-to-financial-accounting/?couponCode=YT_SPECIAL65OFF Many of the Financial Accounting videos are offered for free through our RUclips channel, Notepirate; however, the comprehensive course is available through Udemy. All proceeds will be re-i...
Impairment Entry for a Note Receivable Issued at a Premium (Intermediate Financial Accounting #22)
Просмотров 3,3 тыс.9 лет назад
We just recorded an impairment charge in our last video...why not do it again with a more difficult example!? We'll look at a note issued at a premium, discount it, amortize it and then report an impairment charge :) Next up is investments! Website: www.notepirate.com Follow us on Facebook: pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: notepirate We app...
Impairment of Interest Bearing Notes Receivable (Intermediate Financial Accounting #21)
Просмотров 5 тыс.9 лет назад
When a debtor fails to pay contracted interest payments or repay the initial principal we'll have to report an impairment. The impairment adjustment is meant to show the uncollectible parts of the receivable. Join us as we go through a note issued at par that becomes an impaired note! Website: www.notepirate.com Follow us on Facebook: pages/Note-Pirate/514933148520001?ref=hl Follow...
Non-monetary Exchanges for Notes Receivable (Intermediate Financial Accounting #20)
Просмотров 2,7 тыс.9 лет назад
In the past few videos we've looked at exchanges of cash for notes receivables. They've been structured as interest bearing or non-interest (zero interest bearing). Now we'll look at receiving a notes receivable asset in exchange for non-monetary assets. Afterwards we'll discuss the imputed interest rate when a market (effective) rate can't be established. Website: www.notepirate.com Follow us ...
Amortization of a Notes Receivable Issued at a Premium (Intermediate Financial Accounting #19)
Просмотров 8 тыс.9 лет назад
This tutorial should be fairly straightforward if you understood how to amortize a discount on notes receivable. We've received a note receivable from the issuer (Wolverine Labs) and we'll go about recognizing it, making the required adjustments and derecognizing it by the end. We also fill out another amortization schedule throughout the video. REMEMBER, if the coupon rate is greater than mark...
Summary of Percentage of Completion, Cost Recovery,Completed Contract Methods (FA Tutorial #50)
Просмотров 31 тыс.9 лет назад
45% OFF Full Crash Course on Udemy: www.udemy.com/university-level-introduction-to-financial-accounting/?couponCode=RUclips_45OFF In this video I elaborate as to why we should avoid using the critical point method for long term contracts. We have to recognize revenue gradually using either the percentage of completion or cost recovery method. Completed contract method can be used under ASPE and...
Amortizing Notes Receivables using Contra Asset Account (Intermediate Financial Accounting #18)
Просмотров 2,3 тыс.9 лет назад
There is an alternate method we can use to amortize a discount or premium on notes receivable. Instead of amortizing the discount/premium through notes receivable, we will create a contra asset account called discount (or premium) on notes receivable and adjust the balance as we amortize it. Website: www.notepirate.com Follow us on Facebook: pages/Note-Pirate/514933148520001?ref=hl...
Amortization of a Note Receivable Issued at a Discount (Intermediate Financial Accounting #17)
Просмотров 14 тыс.9 лет назад
Using the present value of the $100,000 face value note we'll work out an amortization schedule and report the journal entries to recognize the note, report interest and amortize the discount along with derecognizing the note. NOTE THAT AT THE END I SAID THE CASH INTEREST PAYMENT IS AN ADJUSTMENT. IT IS NOT AN ADJUSTMENT, BUT A JOURNAL ENTRY. Normally in a real life situation the interest is ac...
Interest Bearing Notes Receivable at Discount (Intermediate Financial Accounting #16)
Просмотров 18 тыс.9 лет назад
Last tutorial we reported a note receivable issued at par. Surprisingly it looked identical to reporting a short term interest bearing note. Lets see what happens when the market rate (effective rate) is different from the coupon (stated rate) and a discount evolves! Website: www.notepirate.com Follow us on Facebook: pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: tw...
Accounting Entries for Long Term Notes Receivable at Par 3 (Intermediate Financial Accounting #15)
Просмотров 3,7 тыс.9 лет назад
After taking everything we've calculated from the former video (calculating the present value of the note) we can now recognize the note receivable and make adjustments each year for any interest revenue/income. Learn how to recognize, adjust and derecognize this transaction. Next up is a note at a discount! Website: www.notepirate.com Follow us on Facebook: pages/Note-Pirate/51493...
Accounting for Long Term Notes Receivable at Par 2 (Intermediate Financial Accounting #14)
Просмотров 3,3 тыс.9 лет назад
Accounting for Long Term Notes Receivable at Par 2 (Intermediate Financial Accounting #14)
Accounting for Long Term Notes Receivable at Par (Intermediate Financial Accounting #13)
Просмотров 4,2 тыс.9 лет назад
Accounting for Long Term Notes Receivable at Par (Intermediate Financial Accounting #13)
Discounts, Premiums and Bonds at Par (Intermediate Financial Accounting Tutorial #12)
Просмотров 80 тыс.9 лет назад
Discounts, Premiums and Bonds at Par (Intermediate Financial Accounting Tutorial #12)
Non-Interest Bearing Notes Receivable Entries (Intermediate Financial Accounting #11)
Просмотров 29 тыс.9 лет назад
Non-Interest Bearing Notes Receivable Entries (Intermediate Financial Accounting #11)
Interest Bearing Notes Receivable Entries (Intermediate Financial Accounting I #10)
Просмотров 38 тыс.9 лет назад
Interest Bearing Notes Receivable Entries (Intermediate Financial Accounting I #10)
Interest vs. Non Interest Bearing Notes Receivable (Intermediate Financial Accounting I #9)
Просмотров 27 тыс.9 лет назад
Interest vs. Non Interest Bearing Notes Receivable (Intermediate Financial Accounting I #9)
What is Notes Receivable? (Intermediate Accounting I #8)
Просмотров 9 тыс.9 лет назад
What is Notes Receivable? (Intermediate Accounting I #8)
APR and EAR Differences and Calculation (Intermediate Accounting I #7)
Просмотров 78 тыс.9 лет назад
APR and EAR Differences and Calculation (Intermediate Accounting I #7)
Finding the Present Value of an Annuity Due (Intermediate Accounting I #6)
Просмотров 17 тыс.9 лет назад
Finding the Present Value of an Annuity Due (Intermediate Accounting I #6)
Discounting to Find the Present Value of an Annuity (Intermediate Accounting I #5)
Просмотров 11 тыс.9 лет назад
Discounting to Find the Present Value of an Annuity (Intermediate Accounting I #5)
Support Cost Allocation using Step Down Method (Cost Accounting Tutorial #37)
Просмотров 95 тыс.9 лет назад
Support Cost Allocation using Step Down Method (Cost Accounting Tutorial #37)
Variance Analysis, Calculate Price and Usage Variances (Cost Accounting Tutorial #48)
Просмотров 45 тыс.9 лет назад
Variance Analysis, Calculate Price and Usage Variances (Cost Accounting Tutorial #48)
Variance Analysis, Master (Static), Flexible and Actual Budgets (Cost Accounting Tutorial #47)
Просмотров 67 тыс.9 лет назад
Variance Analysis, Master (Static), Flexible and Actual Budgets (Cost Accounting Tutorial #47)
The Cash Budget Part 1, Sales Budget and Collections Budget (Cost Accounting Tutorial #43)
Просмотров 65 тыс.9 лет назад
The Cash Budget Part 1, Sales Budget and Collections Budget (Cost Accounting Tutorial #43)
The Master Budget (Cost Accounting Tutorial #42)
Просмотров 70 тыс.9 лет назад
The Master Budget (Cost Accounting Tutorial #42)
Joint Costs Allocation using the Physical Units Method (Cost Accounting Tutorial #39)
Просмотров 21 тыс.9 лет назад
Joint Costs Allocation using the Physical Units Method (Cost Accounting Tutorial #39)
Thank you very much. you made it very clear
best video I've watched on this topic, thank you
we out here in 2024 learning from this man
well explained thank you
finally I get it, thank you!!!
Thank you!
DM used = RAWMbeg + RAWMpur = AVAILABLE RAWM - Ending Inv DL = Any label that produces products ex 12000$ label cost employees MOH = IM + IL + FR + FU or any thing that replayed to the factory. + WIPbeg - WIPend = COGM .. FGbeg + COGM = Available FG - FGendinv = COGS
how/where did we get the 600 000 equipment? video very helpful by the way❤
you explained this better than Chat GPT / thank you :)
so if you lose money you have to debit the difference to the equipment cost?Pls Answer i need help
you breathe too loud
you breathe too loud
I know this video has been around for a while but I just found it and wanted to say THANK YOU! This explanation was so clear and easy to follow!
Love to see that the content is still proving to be useful for students :)
@@NotepirateDave You have so many subs, why did you stop uploading?
@@Carthy12I'm still around! I would like to return to content creation at some point but I'm enjoying the opportunity to learn more in industry while exploring other areas like financial system plumbing and macroeconomics. Happy that students still come back to lessons!
Wow that solves my understanding
Thankyou so much! This helped me alot!!
u say APR is the with out compunding but at the and the APR of 20% is bigger thean EAR of 20% because of compounding. I am confused maybe somebody can help me
Do you add the retained earnings to the next years financial statements or the current year you’re closing out?
Thank you.
Where is part 7 8 9?
Still helpful after 8 years. Thank you so much 🫶
Great explanation. I like it. Can you do a video for efficiency variance analysis as well?
In the recoverability test what is the rationale behind comparing the carrying value with undiscounted cashflows other than what asc 360 says?
Ok so this is same as bonds receivable
Omg perfect!!
This made me cry , it is 9 years old 🥺 It is uploaded when I was in 4th class
Why is the semiannual interest being paid monthly???
Thanks
Thank you very much
Good explanation 😊
Amazing explanation!
hell of a video. great work, made so much sense.
What if it's on monthly basis, not yearly basis ? Say Year 1, monthly $ 100; Year 2, monthly $ 400; and Year 3, monthly $ 300, can we use the same formula but just divide the rate by 12 , then what about the t ?
This is soooo helpful, thank you for taking the time to do these videos, uploading them, and keeping them up. They really help. Thank you.
Very useful, thank you.
your a legend
So I believe once we put loss on sale (20,000) our earnings before tax would be 266,000 (I got this number by 247,000 (earning from operations) + 19,000 (revenue made not from operations) =266,000. After I subtracted the income tax 266,000-25,000= 241,000 Net income= 241,000
Idk if I’m right lol but this is just what I think. I would like confirmation as well.
May GOD BLESS YOU❤❤❤
Your prisoner woke up and is trying to escape your closet.
This is reciprocal, not step down lol
Thank you for this helpful video 😊
informative
good explanation
The concept is still a bit odd to me but your video helped a lot. Thanks 👍
Thank u, love u
Hi what's your email please
Writing with a mouse …not bad
1:45:02 too late
Shouldnt the WIP ending (14,000) be increased instead of decreased?
you are amazing! thank you
Thank you so much for this video. I've been struggling to understand this from class, and you explained the 5 step process with the numbers so clearly!