Accounting Transactions. With accounting principles the second yours which once again its transactions will review transactions test as jod transactions explained outer 20-over one more time first so assets E all sup equation his assets borrowing money you know somebody s liability or through at we the owners Chloe in the biz actually improved capital withdrawal runs expenses not only bring on board some examples.
ast are hundreds...
Journal and Ledgers
Okay last let's continue on the lesson we talked about come equation we talked about transactions. I'll now we talk about to you Doutzen Kroes every transaction the debts must equally crafts now you can move forward with a look at our Journal week or transactions and the lectures budgets are similar to THC not be tracked the balance accounts so eruptions you to life casper and the capital letter every count of its own like blast
room...
Accounting Equation
Before you get started on the caption just wanna remind for accounting really is repetition especially he is not hard hard all makes perfect sense unfortunately your brain works you spend a lot of time from you can suspend
I'm one day and onlookers days this is the subject matter you look at you every single day the next probably in 2-3 weeks he going all these concepts healing powers day sunny spend an hour to go into this....
The Specific Identification Inventory Costing Method
What's up guys in the last few presentations were looking at how journal I certain transactions involving inventory but a misprint this recurring injury cost much gas do you theory know what that number cost of goods sold its going to be because normally
I give you something like this raise the cost of goods sold its 2008 that does not happen what you are actually have to do with your ex gonna have to calculate cost of goods...
The FIFO Method for Inventory Costing
In this presentation will be covering inventory costing method known as waco which is an acronym which represents first in the first oh which basically means that the first purchases we make are going to be the first ones that we expands as costs a good soul because cost of goods sold is our expense for inventory so basically what this means
is if we have hertz is on January 1st in purchases on January thirty-year when the soul...
The Average Cost Method for Periodic System Inventory Costing
So few moments ago we were just talking about the paper matter but now we can begin talking about the average cost method for calculating the cost of goods sold and an inhibitory and the average cost not that is really going to give us an average unit cost for each inventory item and then we're going to multiply it by be total amount of items that we've sold to actually get our total cost of goods sold and before we begin
I just...
The LIFO Method for Inventory Costing
Now we're going to be talking about the life a method to make seem a little bit
on it perspire we're gonna be
talking a bit late but actually still introducing its concept because
a lot different countries IFRS is implemented which are
international accounting standards and it's actually not allowed
under IFRS or private enterprise or Canadian job but the thing is
it still is allowed under US gap and
a lot of my viewers are critics...