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Farhat Lectures. The # 1 CPA & Accounting Courses
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Добавлен 3 ноя 2006
My RUclips channel offers a growing number of free accounting lectures and accounting courses that cover college level Accounting courses including Financial Accounting, Managerial Accounting, Intermediate Accounting, Advanced Accounting, Taxation, Auditing, Cost Accounting and CPA prep material.
Not every student has the same pace of learning and students who need extra time to understand certain concepts may be left behind. Some students may be lacking prerequisite knowledge from previous courses or they may be intimidated by asking clarification questions in class. Also, scheduling may limit access to classes for those who are working part-time or full-time jobs. www.farhatlectures.com offers open Accounting instructional videos to learners who want to study at their own pace in and outside the classroom. Any student around the world who is struggling to understand a particular Accounting concept or juggling classes, a job, and family responsibilities can take advantage.
Not every student has the same pace of learning and students who need extra time to understand certain concepts may be left behind. Some students may be lacking prerequisite knowledge from previous courses or they may be intimidated by asking clarification questions in class. Also, scheduling may limit access to classes for those who are working part-time or full-time jobs. www.farhatlectures.com offers open Accounting instructional videos to learners who want to study at their own pace in and outside the classroom. Any student around the world who is struggling to understand a particular Accounting concept or juggling classes, a job, and family responsibilities can take advantage.
Inventory Errors Explained. Intermediate Accounting. CPA exam FAR.
In this video, we cover inventory errors.
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Understanding Inventory Errors and Their Impact on Financial Statements
Inventory errors can significantly affect a company's financial statements, impacting the balance sheet, income statement, and even cash flow statements. These errors arise from miscounting, misclassification, incorrect pricing, or theft, and can lead to inaccurate financial reporting. Understanding how these errors occur and their implications can help businesses take preventive measures and maintain accurate financial records.
1. Types of Inventory Errors
Miscounting: Errors in counting inventory during physical counts can lead to discre...
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Understanding Inventory Errors and Their Impact on Financial Statements
Inventory errors can significantly affect a company's financial statements, impacting the balance sheet, income statement, and even cash flow statements. These errors arise from miscounting, misclassification, incorrect pricing, or theft, and can lead to inaccurate financial reporting. Understanding how these errors occur and their implications can help businesses take preventive measures and maintain accurate financial records.
1. Types of Inventory Errors
Miscounting: Errors in counting inventory during physical counts can lead to discre...
Просмотров: 26
Видео
Discontinued Operation Income Statement.
Просмотров 5009 часов назад
In this video, we discuss discontinued operation. Start your free trial: farhatlectures.com/ Understanding Discontinued Operations Discontinued operations refer to a significant component of a business-such as a department, segment, or subsidiary-that has been sold, abandoned, or otherwise disposed of, or is held for sale. The classification of a part of a business as a discontinued operation h...
CPA Live Review Session: 👉https://shorturl.at/EZagb
Просмотров 34014 часов назад
Click to choose your CPA live review session: 👉shorturl.at/EZagb #cpaexam #cpaexaminindia #cpareviewcourse
Special Revenue Funds. Governmental Accounting.
Просмотров 32819 часов назад
In this video, we discuss special revenue funds as covered in governmental accounting course. Click to start your free trial: farhatlectures.com/ Understanding Special Revenue Funds Special revenue funds primarily used by governmental entities to account for specific revenue sources that are legally restricted or committed to spending on particular purposes, other than debt service or capital p...
Introduction to the Income Statement.
Просмотров 739День назад
In this video, we discuss an overview of the income statement. Click to start your free trial: farhatlectures.com/ Understanding the Income Statement An income statement, also known as a profit and loss statement (P&L), is one of the fundamental financial statements used by companies to track revenues, expenses, and profitability over a specific period. This statement provides valuable insights...
Agreed Upon Procedures AUP Attestation Engagement. CPA Exam AYD
Просмотров 35014 дней назад
In this video, we explain we explain agreed upon procedures as an attestation engagement covered on the CPA exam. Start your free trial: farhatlectures.com/ Understanding Agreed-Upon Procedures (AUP) Agreed-Upon Procedures (AUP) refer to an engagement in which an auditor is hired by a client to perform specific tests and procedures and report on the findings. Unlike traditional audits, AUP enga...
Balanced Scorecard Explained
Просмотров 44214 дней назад
In this video, we explain the balanced scorecard. Start your free trial: farhatlectures.com/ he Balanced Scorecard is a strategic planning and management system used extensively in business and industry, government, and nonprofit organizations worldwide. It helps organizations align business activities to the vision and strategy of the organization, improve internal and external communications,...
Inventory Turnover and Days Sales in Inventory.
Просмотров 46314 дней назад
In this video, we explain inventory turnover and days sales in inventory. Start your free trial: farhatlectures.com/ Inventory turnover and days sales in inventory (DSI) are two crucial metrics used in business management to assess the efficiency of inventory management. These metrics provide insights into how effectively a company is managing its stock, from purchasing to sales. Understanding ...
Lower of Cost or Market. LCM
Просмотров 37221 день назад
In this video we cover lower of cost or market. Start your free trial: farhatlectures.com/ Understanding the Lower of Cost or Market (LCM) Rule The Lower of Cost or Market (LCM) is a conservative accounting principle that companies use to value and report the cost of inventory. LCM is used to ensure that the inventory is not overstated on the financial statements. It dictates that inventory sho...
Tax Methods: Cash and Accrual Examples
Просмотров 60821 день назад
In this video, we work an example dealing with tax methods. Start your free trial: farhatlectures.com/ Tax Accounting Methods: Cash and Accrual In accounting, the method you choose for recording transactions can significantly affect your financial reporting and tax liabilities. The two primary accounting methods used for tax purposes are the cash method and the accrual method. Each method has s...
FICA Taxes: Social Security and Medicare Tax.
Просмотров 65821 день назад
In this video, we explain FICA taxes which include social security and Medicare taxes. Click to start your free trial: farhatlectures.com/ Understanding FICA Taxes: Social Security and Medicare FICA taxes, an acronym for the Federal Insurance Contributions Act, represent the federal payroll taxes deducted from employees' paychecks to fund Social Security and Medicare programs in the United Stat...
Self-employment Tax Explained
Просмотров 66821 день назад
In this video, we explain self-employment tax. Click to start your free trial: farhatlectures.com/ Understanding Self-Employment Tax Self-employment tax is a form of tax that individuals who work for themselves pay to cover their Social Security and Medicare obligations. It is similar to the FICA tax that employers and employees pay, except self-employed individuals must pay both the employer a...
Security Assessment: Evaluator, Process and Evidence. Information Systems and Controls ISC.
Просмотров 20221 день назад
In this video, we explain security assessment explain the role or evaluator, process and evidence used as c overed on Information Systems and Controls ISC CPA Exam, Start your free trial: farhatlectures.com/ Security Assessment: Evaluator, Process, and Evidence A security assessment is a critical process that systematically evaluates the security of a company's information systems by measuring ...
How to Calculate the Price of a Bond?
Просмотров 85621 день назад
How to Calculate the Price of a Bond?
SOC Risk Assessment. Information Systems and Controls ISC CPA Exam
Просмотров 17721 день назад
SOC Risk Assessment. Information Systems and Controls ISC CPA Exam
Tax Accounting Methods: Cash and Accrual.
Просмотров 49921 день назад
Tax Accounting Methods: Cash and Accrual.
SOC Engagement Evaluating the Evidence. Information Systems and Controls ISC CPA Exam
Просмотров 15721 день назад
SOC Engagement Evaluating the Evidence. Information Systems and Controls ISC CPA Exam
Written Representation REP Letter SOC Engagement Information Systems and Controls ISC CPA Exam
Просмотров 13021 день назад
Written Representation REP Letter SOC Engagement Information Systems and Controls ISC CPA Exam
Contribution Revenue Not for Profit CPA Exam FAR
Просмотров 63628 дней назад
Contribution Revenue Not for Profit CPA Exam FAR
Other Comprehensive Income OCI Accumulated Other Comprehensive Income
Просмотров 53228 дней назад
Other Comprehensive Income OCI Accumulated Other Comprehensive Income
How to Solve CPA Exam Simulations. 👉farhatlectures.com
Просмотров 1,2 тыс.Месяц назад
How to Solve CPA Exam Simulations. 👉farhatlectures.com
SOC Attestation Engagement Independence. Information Systems and Controls ISC CPA Exam
Просмотров 221Месяц назад
SOC Attestation Engagement Independence. Information Systems and Controls ISC CPA Exam
Performance Materiality Tolerable Misstatement Audit Course CPA Exam AUD
Просмотров 332Месяц назад
Performance Materiality Tolerable Misstatement Audit Course CPA Exam AUD
SOC Engagement Evaluating Design of Controls. Information Systems and Controls ISC CPA Exam
Просмотров 206Месяц назад
SOC Engagement Evaluating Design of Controls. Information Systems and Controls ISC CPA Exam
IFRS 15 Revenue Step 4 Allocate Transaction Price to Performance Obligations. CPA Exam
Просмотров 658Месяц назад
IFRS 15 Revenue Step 4 Allocate Transaction Price to Performance Obligations. CPA Exam
SOC 2 Description Criteria. Information Systems and Controls ISC CPA Exam
Просмотров 198Месяц назад
SOC 2 Description Criteria. Information Systems and Controls ISC CPA Exam
Materiality for the Financial Statement as a whole or Preliminary Judgement about Materiality.
Просмотров 393Месяц назад
Materiality for the Financial Statement as a whole or Preliminary Judgement about Materiality.
Hi Sir if both are having a same currency dealings and bank accts then they will receive fcy in the fcy bank accounts. So we will receive and pay from the same account, then EX fluctuations effect is no longer there to the extent of Revenue and Cost, but only to the extent on GM derived which If I sell to bank if required. Secondly we are translating all our fcy bank accounts on monthly basis for MIS reporting and on yearly basis too. We also do Dr's, Crs year end entry for fcy transactions through a control account and take the ex gain or loss for the year end. I don't want to take transaction date for all receipts and payments on day to day basis
Please explain how to deal when the FY is different from USA. viz April-March
Hi Professor, is it fair to say that there is no appreciation recapture for car depreciation? Also, there is a limit rule for the car depreciation, how do I also compare the best depreciation method with standard mileage expenses? Thanks!
Could you please show all the information on the tax forms? Thank you so much.
I like how you are going step-by-step. However, I feel you can do a better job explaining each concept and how the numbers are usually determined. I also think with the 2,535 example, when you multiply by 10 and multiply by 6, you use different values for the units ($2,535.7 vs $2,535). I think you should use the same unit for all values. I also feel you can write more neater, the writing is unclear and makes it hard for me to understand. When you put 750x 4=3,000, the 4 looked like a 6 to me at first. Please take these into consideration when making future videos.
Good stuff
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For insurance claim part the last line mentions ‘The property insurance carrier further indicated that any payment is subject to the $125,000 deductible included in the property insurance policy.’ What does this mean? Is it like they would deduct $125k from the claim and provide the remaining amount? If so why don’t we accrue this amount?
Can you put the link to Part 2 (Protect) please?
Thank you for your service! Helps a lot!
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Thank you ❤
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How about divorced parents? The one who pays claim the credit or the one has custody for the year?
Hi Professor, does summer camp expenses count as childcare credit? Thank you so much!!
Thanks You so much. Is very helpful
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Thank you very much for these lectures !
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Does this annualized method also work for individual taxpayers? to be able to estimate passive income concerning investments, such as interest, dividends, etc.?
Great explanation in theory works amazing. But a ERP should require a few steps extra to complete the cycle
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how come this man is not ruling the charts?
Thank you so much for uploading this video. It's hard to get quality lectures at Uni these days. Keep up the good work.
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Under the oci column. Why are losses positive and gains negative?
During the current year, Bay Co. constructed machinery for its own use and for sale to customers. Bank loans financed these assets both during construction and after construction was complete. How much of the interest incurred should be reported as interest expense in the year-end income statement? Interest incurred for machinery for own use Interest incurred for machinery held for sale A. All interest incurred Interest incurred after completion B. All interest incurred All interest incurred C. Interest incurred after completion Interest incurred after completion D. Interest incurred after completion All interest incurred
I have a question, do you capitalize int on asset hold for sale and for own use?
She did a real good job of explaining this
She?! Most welcome. Please check my website for more. Start your free trial : farhatlectures.com/
@@AccountingLectures 😂😂😂😂 I meant HE!!!
@@AccountingLectures btw sir , could you include section 382 limitations into your TCp program ?
do you have more videos about capital strucutre and financial leverage in your website subscription?
Very detailed explanation, thank you
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Correct me if I'm wrong, but under ASU 2016-01, the reporting of unrealized gains or losses on equity security investments changes. Specifically, all equity security investments presented at fair value must be accounted for using the Trading method. This means that changes in the values of these investments are recorded in current period earnings, impacting net income directly. Therefore, under this new standard, unrealized losses on available-for-sale debt securities would not be reported net of tax in other comprehensive income (OCI) but would affect net income instead...not net of taxes..
I see things are working sir, congratulations.
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How did you get to $178,000 of "paid-in capital in excess of par" after the executives exercised the options?
Imo best is that Students should Suggest some tricky MCQs ie Say MCQ 00913, 00916 from the Topic of Subsequent Events . Last but not the least.. Explanation of All MCqs of certain topics which are typical to INDIANs like Say NFP and Govt Accounting. Best is to categorise Topic wise and then post it.
This made more sense than my textbook. I was curious do you also have courses on the series 7 licensing?
Thanks for the clear and simple explanation of the repo transaction. However, there's an error in the T account. The additional amount (credit side) should be 11,000. The total is still the same, but you inadvertently wrote 10,000 instead of 11,000.
I like your vedio tanks teacher
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Hi Professor, exactly how we elect the Depreciation method? Do we need to select one method, then elect every year? Thanks!
Thanks Mr
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THIS IS THE BEST! Thanks Sir
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Why $9500 in Selling price Variance?
Thanks professor Farahat for the effort. Question, On Nov 01, they added 60,000 shares + 91,000 shares, shouldn't the total be 151,000 shares?
Excellent lecture!
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Do people need to report gift to charity on form 709 as well? Thank you!
Hi Professor Farhat, is NOL 80% limit the same like the special deduction of $2500 in rental real estate? Thank you!
I thought course book does qualify under LLC as long as it is paid directly to the institution??
Best🎉
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Saving lives
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There are several things I'm confused about with this problem. How did you get $19,000 for revenues when the slide said $19,500 in revenues. Also, the diluted - when I calculate 8216/2000+5000*(3/12) I come up with 2.528 which is the same as 2.53 for Basic EPS.
Thanks for your review. I graduated with my A.S. in accounting. God bless
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too long for such a simple explanation
Wait!!! Where you said at 10:20ish "that's a story for a different lecture" .... that's what I need help with!!!! Where can I find a lecture on this??? Please help.
Good morning Pro. Farhat. Could you leave the link of the PDF of these lectures ( Corporate Finance ) Thank you very much
How can I be of help to you from Kenya? I love your explanation and being factual.
In the problem at 6:40, we record a long term liability for 0.2M to be paid on retirement or termination, but we don't record a long term liability for 0.6M. Is this correct? You said it is due to the 0.6M only being an "estimate" so therefore we don't record it, but isn't the 0.2M also just an estimated amount?
Your videos deserve more credit
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