Thanks Tony. I am glad it helped

Thank you!

Thanks Sophie. Glad you found the information useful.

Glad it helped. Thank you for the comment.

Thank you Shella. Comments like yours reassure me that my teaching style is not weird :)

Thank you.

Thanks Heena. By real time, do you mean video recording of posting of accounting entries? Thanks

Thank you Maria.

Thanks and I am glad you found it useful.

Thanks Siddharth. Glad you found it useful.

Deferred revenue can be both current and non current, depending on the time frame of delivery of service/products.

Thank you Glen

Thanks for your comment. I am glad this course is helping!

Thanks

Thank you!

Thanks

the asset of cash is increased when the burger is sold. there is a matching principle that states any debit entry must have a credit entry. therefore there is a credit entry, sales(which is classified under income). and yes both assets and income can increase, because they give different outcomes. debit and credit. as long as they give give debit and credit, they can increase.

3,850+10,954= 14,804. Only adding expenses at that point. Revenue - cost of sales = gross profit. Then he is doing gross profit - the expenses below = Income before income taxes. It would be much clearer if it was an excel format and had borders for calculations.

You're welcome!

Thank you!

Hello Hasan. As explained in the video, dividend income should be reflected under investing activities. In the indirect method of preparing cashflow statement, we start with net income which already includes dividend income. We exclude it to not reflect under operating activities, and then show under investing activities. Just a matter of classification.

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Thanks. What would you like to see more of?

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The accounting equation is Assets = Liabilities + Equity. From a financial position perspective, assets are not equal to liabilities. The higher the equity, the lower the liabilities in the balance. Equity represents value of ownership of net assets.

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If the cash was paid to the contractor after completing the job, debit can be an "expense" in the p&l. The name of the gl account can be interior design expenses. If the interior design is costly (material or large amount) and is part of the building fixtures that the institute owns, this can also be treated as fixed asset or capital expenditure. In that case a fixed asset account such as "building" or "improvements" will be debited. If the cash is paid in advance for work that will be done later, debit will be an asset account such as "advances, deposits and prepayments".

@@LearnAccountingFinance Thankyou ,but i am still confused , can you make a video on this example on the excel please , Also can you do a video on creating cash book on excel on direct and indirect expense , current and fixed assets with examples, where the balance is also recorded.

@@LearnAccountingFinance HOW DO YOU ENTER AN AMOUNT CONTRIBUTED BY A PERSON FOR THE BUSINESS .FOR (EX ) I RECEIVED MONEY FROM MR. X FOR MY BUSINESS WITHOUT ANY RETURNS, ITS LIKE A CAPITAL AMOUNT, SO WHAT 2 ACCOUNTS ARE AFFECTED AND HOW TO POST IN CASH BOOK, WHICH ACCOUNT WILL FALL UNDER DEBIT OR CREDIT ...PLZ DO REPLY

Hello Li Ha. All my content is available on the youtube channel. There is currently an advanced income statement analysis course that you can access at ebitda.thinkific.com/courses/learn. I also provide 1 on 1 training/coaching. You can check details by sending a direct message to @learnaccountingfinance on instagram.

devika bhatnagar accountancy chudu bro

:) yes it gets confusing when we try to connect debit and credit from accounting to everyday use of the terms. You can view credit line or credit card as an offer by the bank to "increase your liability" ( = credit according to accounting rules). When you make purchases on a credit card you are in effect increasing your liability because you now owe the bank or credit card provider the amount you purchased for. Personally for me, this is the worst kind of credit as it starts growing (with interest) if you do not settle in time. The same goes for credit line.

Remember buddy there is no logic u have to rememver this that there are 5 nature of accounts like assets expense when every they rises we have to debit them and when ever they decreases we have to credit them in journal while capital/equity , income and liability when ever increases we have to credit them and when ever these decreases we have to debit them

Most people don't explain debit and credit probably. Also credit and debit are a bit arbitrary and has too much interference.

No there is a logic just take your self as a company and simply anything that comes in is debit anything that goes out is credit remember this

@@iqraqureshi436 That's very wrong. Where do you put retained earnings and equity?