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Videos uploaded by user “Notepirate”
How to Prepare Closing Entries (Financial Accounting Tutorial #27)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP This financial accounting tutorial addresses the last part of the accounting cycle -- closing entries. We explore how closing the books involves transferring the balances of the revenue, expense, and dividend accounts to retained earnings and the reasons behind these transfers. Using debits and credits, this tutorial will take you step-by-step through the all of the transactions. ** Notepirate is privately owned and exclusive to Notepirate. ** Website: http://www.notepirate.com Like us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you have given us! Be apart of the mission to help us reach more students of accounting by subscribing, thumbs upping and adding the videos to your favorites!
Views: 108803 Notepirate
The Relevant Range (Managerial Accounting Tutorial #4)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu What is the Relevant Range? It is a range of activity where there is a specific relationship between costs and cost drivers. For example, we know that fixed costs will remain fixed over the relevant range and that variable costs per unit will be the linear. Watch it all! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 28476 Notepirate
Support Cost Allocation Using the Direct Method (Cost Accounting Tutorial #32)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 In this tutorial we'll use the direct method to allocate support department (service department) costs to revenue producing departments. The direct method completely ignores that support departments assist other support departments. This is the reason why we don't prorate the cost using any of the cost driver data from support departments. We'll cover the step-down and reciprocal method next. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 60829 Notepirate
Variance Analysis, Master (Static), Flexible and Actual Budgets (Cost Accounting Tutorial #43)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 Variance analysis is a tricky topic near the end of our Intro to Managerial Accounting course. We'll discuss different types of variances including price variances and usage variances along with how they're derived from the Master (static) budget, flexible budget and actual results. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 43327 Notepirate
Discounts, Premiums and Bonds at Par (Intermediate Financial Accounting Tutorial #12)
 
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Before we moved onto valuing and reporting long term bonds I thought that I would provide a quick summary of bonds issued at a discount, premium or at par. The stated rate is also known as the coupon rate, or face rate. The market rate is also known as the effective rate and is the rate at which you can get other very similar or identical financial instruments (for example, a bond may have been issued at a 4% coupon rate, 1 year later the market rate for those bonds might have shifted to 6%). Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: https://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 25955 Notepirate
How to Prepare a Cost of Goods Manufactured Statement (Cost Accounting Tutorial #24)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu The cost of goods manufactured statement displays the cost of products manufactured in a period by breaking down the costs into direct materials, direct labor, manufacturing overhead and changes in work in process. Cost of goods manufactured will ultimately be added to finished goods and be expensed as cost of goods sold. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 82355 Notepirate
Contribution Margin and Break Even Points (Cost Accounting Tutorial #13)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu We go over some equations that are brought up within the CVP (cost-volume profit) chapter like how to calculate break even points for units and total dollars. I explain what the contribution margin is and also show how it applies to break even points. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 96708 Notepirate
Prepare the Average Cost Method for a Perpetual Inventory System (Moving Average) (#39)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this tutorial we cover the more difficult version of the average cost method. Instead of calculating ending inventory and cost of goods sold using just a simple average, we'll have to prepare a moving average since our perpetual inventory is always MOVING. After this we'll be wrapping up our inventory system chapter! ** Notepirate is privately owned and exclusive to Notepirate.com.** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 31461 Notepirate
Prepare a Multiple Step Income Statement (Financial Accounting Tutorial #32)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP So at this point we have a general idea of the account cost of goods sold which is an expense related to the sale of inventory. How are we going to factor that into an income statement? Well it's going to get its own separate line before listing "period" costs. Cost of goods sold expense will be deducted from net sales to get our "gross margin" or our "gross profit." This term is a way of saying FATTY profit or profit before subtracting all expenses other than inventory expenses! We go through the preparation of this ubiquitous statement, so give it a watch so that you'll be able to prepare one on your next test/quiz! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 56996 Notepirate
Prepare an Adjusted Trial Balance Statement (Financial Accounting Tutorial #24)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this tutorial we go over transactions that have affected accounts in our company. We look at the adjusting entries that have impacted our individual T accounts and then update our trial balance to be an ADJUSTED TRIAL BALANCE. All an adjusted trial balance is, is a trial balance that is adjusted for the adjusting entries that we've prepared. Make sure that the debits and credits again are equal! Always refer back to T accounts if something is wrong or something doesn't add up. T accounts will save you over and over on tests :) ** Notepirate is privately owned and exclusive to Notepirate.com. ** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 112422 Notepirate
Support Cost Allocation using Step Down Method (Cost Accounting Tutorial #33)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 In this managerial accounting tutorial we use the step down method to allocate costs from support departments to revenue producing departments. REMEMBER that the ultimate goal is to allocate support cost to revenue producing departments. The step down method starts to allocate the support department that provides the most support for ALL support departments (depending on cost). So we'll allocate out the cost and figure out which one to use and then begin allocating! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 62300 Notepirate
What are Cost Drivers? (Cost Accounting Tutorial #2)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu Cost drivers are a key term to represent an activity that drives up costs. There are different cost drivers that can be chosen for different costs, however, there normally is one cost driver than determines the cost better than the others--This can be found by analyzing the r^2 or coefficient of determination number. I provide some examples and go over the basics. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 46906 Notepirate
Cost Volume Profit Analysis and Break Even Points (Cost Accounting Tutorial #11)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu Cost-volume-profit (CVP) analysis is used to evaluate how changes in costs and volume affect a company's operating income and net income.​We'll go over the basics of CVP analysis and explain how to use the break even point equation to solve for some general managerial accounting questions! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 52284 Notepirate
Cash Flow Statement using Indirect Method: Part 5, Non Cash Expenses (Financial Accounting #69)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP Long title, right? We're working towards finishing off our cash flow statement by adjusting for non-cash expenses like depreciation expense. By analyzing the balance sheet and the income statement we can infer certain assumptions about whether an expense was cash or non cash based. After this we'll be finished the operating activities section of our cash flow statement! Any questions, leave them below! It helps others! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 20458 Notepirate
Manufacturing Costs (Direct Materials, Labor, Manufacturing Overhead) and Product and Period Costs.
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu ​Costs can be split up into manufacturing and non-manufacturing costs. We'll look over certain direct and indirect costs and decide how they should be categorized. This tutorial will come in handy when we begin to prepare Cost of Goods Manufactured Statements! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 60931 Notepirate
Gains and Losses on Disposal of Property, Plant and Equipment (Financial Accounting Tutorial #60)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP What happens when you dispose of an asset by selling it? How are the proceeds accounted for? Are there gains and losses to be reported? Well in this video we demonstrate how to account for the amortization up until the date of disposal/sale and then we account and journalize the sale. Remember that the normal balance for gains are CREDITS and the normal balance for losses are DEBITS. So if you have a loss, DEBIT it and if you have a gain CREDIT IT. Gains increase equity indirectly which is why their normal balance is a credit! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 21772 Notepirate
Support Cost Allocation Using Reciprocal Method (Cost Accounting Tutorial #34)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 In this managerial accounting tutorial we discuss allocating support department costs to revenue producing departments using the reciprocal method. The reciprocal method basically shows that the support departments reciprocate support services which is why we use the reciprocal method in this business example. We will use substitution algebra to allocate costs finally to the revenue producing departments and clear out cost balances in the support departments. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 38105 Notepirate
Cash Flow Statement using Indirect Method: Part 3, Inventory (Financial Accounting Tutorial #67)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP Next up we have inventory to adjust for an then we'll be completely finished adjusting for our current assets. Tiring isn't it? Remember that increases in inventory are a use and decreases are a source! Any questions direct them below! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 25389 Notepirate
Depreciation, Amortization, and Depletion Explanation (Financial Accounting Tutorial #57)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP What is depreciation? Well it is a concept that provides methods to allocate the cost of a long lived asset over accounting periods. This way it matches expenses with the revenues the long term asset helped generate. This way it complies with the matching principle and also fairly allocates the cost to each respective period (depending on whether you use straight line method or the declining balance). The differences between depreciation, amortization and depletion follow! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 18510 Notepirate
Management Accounting Job Order Journal Entries (Cost Accounting Tutorial #25)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu After going over the Cost of Goods Manufactured Statement we'll learn how to record journal entries for the usage of direct materials, incurring direct labor and overhead costs, along with transferring inventories. Overhead applied and overhead incurred are tricky, so pay attention specifically to that part! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 31038 Notepirate
Percentage of Completion Method for Long Term Contracts (Financial Accounting Tutorial #51)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In the last video I gave a quick overview of the methods that we may use depending on how our company is structured (IFRS of ASPE) (besides the installment method). I just wanted to quickly go through a problem and provide a template I used for determining revenue and gross profit. It's simple and quick and should help you when you are trying to figure out those numbers to record your journal entries. Enjoy! If you have any questions, feel free to leave one below :) Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 31452 Notepirate
High-Low Activity Method (Cost Accounting Tutorial #8)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu The high-low activity method is one that provides us with a slope using high and low activity points. We go through a quick example and cover the disadvantages to the method; along with some added detail regarding the relevant range. Any questions, post them in the section below! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 30257 Notepirate
What is Equity (Financial Accounting Tutorial #10)
 
09:25
75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this financial accounting tutorial I explain what the financial accounting element equity is. Equity is split into common shares and retained earnings and represents the residual interest owners have in the business after liabilities. Equity essentially represents net assets and is calculated using the accounting equation by subtracting liabilities from assets. ** Notepirate is privately owned and exclusive to notepirate.com.** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001 Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 52416 Notepirate
Fixed and Variable Costs (Cost Accounting Tutorial #3)
 
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75% Off the Complete Crash Course on Udemy: http://bit.ly/2qwRnPf In this tutorial I explain the difference between fixed and variable costs. I go over how they change and whether they change based on cost driver activity. I define and graph out some examples so you can see how costs change in relationship to cost driver activity. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 99910 Notepirate
FIFO Method, First in First Out Method for Expensing Inventory (Financial Accounting Tutorial #36)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP After covering the specific identification method, we get to tackle a very frequent cost flow assumption method, the FIFO method. FIFO stands for first in first out which means that the first inventory to be purchased will be expensed first! This will USUALLY lead to cost of goods sold being higher each quarter (mainly because prices of goods purchased normally go up..THINK INFLATION!). This method is acceptable under IFRS and ASPE so it can be used by public OR private companies. Learn how to calculate cost of goods sold and ending inventory using this tutorial! SUBSCRIBE! http://www.youtube.com/subscription_center?add_user=notepirate **NotePirate is privately owned and exclusive to NotePirate.com** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate
Views: 70960 Notepirate
What is Management Accounting (Cost Accounting Tutorial #1)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu In this video we'll introduce you to Managerial/Management Accounting and cover a few different topics that we'll touch on throughout the course. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 75606 Notepirate
Joint Costs Allocation using the Physical Units Method (Cost Accounting Tutorial #35)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 In this managerial accounting presentation I discuss how we will allocate joint costs using the physical units method. We will prorate the joint costs to the separate joint products for the purpose of valuing our inventory and determining income from each product. We need a method that allocates costs so that each product has a fair allocation of cost and yields a profit. In this case, the physical units method does not seem to yield a profit for both products, which we require. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 15681 Notepirate
Cash Flow Statement using Indirect Method: Part 2, Receivables (Financial Accounting Tutorial #66)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP WHO'S READY FOR PART TWO? This next part is epic in that we start off with some general guidelines and then move into slowly adding/adjusting items to finish the operating activities or cash from operations segment. Watch now! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 46209 Notepirate
What is Financial Leverage or Leveraging (Cost Accounting Tutorial #18)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu Financial Leverage can be a tricky topic. We'll try and help you understand it by demonstrating the most common way to leverage an investment or company (through debt) and showing the risks and rewards associated with it. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 28459 Notepirate
General Ledger, T Accounts and The Accounting Cycle (#17)
 
08:41
75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this financial accounting tutorial we describe and explain how to post transactions to the general ledger using t-accounts. Transferring debits and credits to the respective t-accounts will give us a summary of the transactions for that account and a final balance. Watch now! ** NotePirate is privately owned and exclusive to NotePirate.com. ** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 49999 Notepirate
Perpetual Inventory System and How to Journalize Purchase Entries (FA Tutorial #30)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP So we've talked about the perpetual inventory for some time now. Well, now its time to learn how to journalize certain transactions in this system like purchases, returns, discounts along with shipping costs (Looking at FOB destination and FOB shipping). Merchandise inventory will be used in this inventory system and will include constant cost of goods sold changes as inventory is sold and returned. Watch the entire tutorial and understand this concept to our inventory chapter! ** Notepirate is privately owned and exclusive to Notepirate.com.** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 41418 Notepirate
Sales Method or Income Approach for Bad Debts Expense (Financial Accounting Tutorial #43)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP When I was talking about the allowance method I basically summarized that its use is primarily for debts that might become bad or uncollectible in the near future. I've shown that the two accounts that we use will be bad debts expense along with allowance for doubtful accounts which is a contra asset account. The point of this video is to find out the actual numbers of our allowance for doubtful accounts and then make an estimation/journal entry for the adjustment. This method uses a percentage of sales revenue and it is the income statement approach. REMEMBER THAT THE ADJUSTMENT IS THE ESTIMATION JOURNAL ENTRY AND TO USE T ACCOUNTS! ** Notepirate is privately owned and exclusive to Notepirate.com.** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 18140 Notepirate
Perpetual vs Periodic Inventory System (Financial Accounting Tutorial #29)
 
07:04
75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP We contrast the perpetual inventory system and the periodic inventory system in this tutorial. The perpetual system is an inventory that constantly updates its inventory records to keep track of total inventory as well as the respective cost of goods sold expense. The periodic system is a system that requires inventory counts to determine how much inventory/inventory shrinkage and expense is all reported. ** Notepirate is privately owned and exclusive to Notepirate.com. ** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 44636 Notepirate
Calculate the Present Value for Multiple Cash Flows (Intermediate Accounting I #3)
 
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What happens when we have multiple periods of different sized cash flows? We discount the cash flows individually using the equation we just learned. Illustrations included to clearly explain the concept like always! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 22648 Notepirate
Cash Flow Statement using Indirect Method: Part 4, Payables (Financial Accounting Tutorial #68)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP Lets adjust our cash flow statement for the current liabilities that are reported on our basic balance sheet. We're going to take accounts payable and determine whether it's a source or use of cash and then adjust net income through the indirect method. I'll go over a real technical example after explaining the theory of how sources/uses work. This is a fairly basic example. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 20572 Notepirate
Adjusting Entries for Prepaid Expenses (Financial Accounting Tutorial #20)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this financial accounting tutorial we cover adjusting entries for prepaid expenses like insurance policies or rent leases paid in advance. To create the adjustment we must figure out what amount one month of rent expense is and journalize it by debiting rent expense and crediting prepaid expense (an asset). Remember that adjusting entries do not involve cash and that the adjustment that the business will record will either be a revenue or expense adjusting entry! ** Notepirate is privately owned and exclusive to Notepirate.com. ** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001 Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 41300 Notepirate
Percentage of Receivables Method for Bad Debts Expense (Financial Accounting Tutorial #44)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP After talking about the percentage of sales method we talk about the percentage of receivables method. Instead of using net sales, we look at the receivables that we have and use a certain percentage. The TRICKY part about this approach is that when you calculate the percent by the receivables, unlike the sales method, it gives you the ENDING allowance for doubtful accounts number. Therefore, you have to find the adjustment which is just some simple subtraction! The reason is because unlike the sales method, A/R is not a temporary account like sales, its a permanent one. If it were a temporary account then the number would be the adjustment because that percentage of receivables would represent the TOTAL estimated uncollectibles for the year. Instead what we're doing is multiplying the rate by TOTAL receivables which means its not just the uncollectibles for THIS year but the estimated for ALL receivables which is why the value goes in the ending balance slot! ** Notepirate is privately owned and exclusive to Notepirate.com.** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 21930 Notepirate
Prepare a Cash Flow Statement using Indirect Method: Part 1 (Financial Accounting Tutorial #65)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP Most of you have been patiently waiting for the cash flow statement tutorial...well it's finally here! This is the first part of the cash flow statement. We'll explain the parts of a cash flow statement, what we'll be tackling in upcoming tutorials along with why net income does not reflect cash balances! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 131748 Notepirate
Adjusting Entries for Accrued Expenses (Financial Accounting Tutorial #19)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP In this financial accounting tutorial I begin explaining adjusting entries and how they are either revenue or expense adjustments, never involve cash and are prepared at the end of an accounting period (passage of time). This first adjustment example will include salaries expense and a payable being accrued. Creating an adjustment will allow us to comply with the matching principle by matching expenses with revenues earned for the period (month). ** Notepirate is privately owned and exclusive to notepirate.com. ** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001 Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 82976 Notepirate
Variance Analysis, Calculate Price and Usage Variances (Cost Accounting Tutorial #44)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 In this tutorial (part two) we'll go through a problem where we'll have to calculate the price and usage variances for labor costs and materials costs. Remember how I said there will be variances for each item on the budget essentially? That's correct since we're covering two of those. Remember that price and usage variance together is the total variance for a certain item (like materials). Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites!
Views: 31238 Notepirate
Absorption vs. Contribution Approach using Income Statements (Cost Accounting Tutorial #30)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 Absorption costs can be separated into two types of costs: inventoriable and non-inventoriable costs. They can also be thought of as manufacturing or non-manufacturing costs. Contribution costing separates all costs into either a variable or fixed cost. Watch as we breeze through a comparison of both types of income statements. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 23071 Notepirate
What is a Cost Function (Managerial Accounting Tutorial #6)
 
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Full Crash Course on Udemy for $9.99! http://bit.ly/2DfGBXu Cost functions help us understand cost behavior and how to project costs. We cover the components of a cost function and show the relationship between cost driver and total cost. Remember that even though a cost function can have a fixed and variable component it can be solely fixed or variable also! Leave questions in the comments below :) Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 17113 Notepirate
The Cash Budget Part 1, Sales Budget and Collections Budget (Cost Accounting Tutorial #39)
 
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70% Off the Complete Crash Course on Udemy: http://bit.ly/2Dhip74 The cash budget is a comprehensive plan that looks at the cash receipts, disbursements and any financing required. In this tutorial we work on the receipts segment of the cash budget by preparing a sales budget and then a collections budget. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 42909 Notepirate
Interest vs. Non Interest Bearing Notes Receivable (Intermediate Financial Accounting I #9)
 
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What is the difference between interest and non-interest bearing notes? Learn the characteristics of both and follow an example that looks at a notes receivable asset. We will record and amortize notes receivable in the next tutorial! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: https://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 13773 Notepirate
What is Financial Accounting? (Financial Accounting Tutorial #1)
 
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75% OFF the full Crash Course on Udemy: http://bit.ly/2oZIdcP This presentation introduces students to the idea of financial accounting. We cover what financial accounting is and why financial accounting is important. We use a modern day example of the company Apple in this tutorial to get across the concept. Hopefully what you take away from this video is that financial accounting involves recording transactions and summarizing them into financial statements (what FA is) and that we have financial accounting to offer users information to make decisions with (the WHY!). ** NotePirate is privately owned and exclusive to NotePirate.com** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate
Views: 87059 Notepirate
Structures of a Business (Financial Accounting Tutorial #2)
 
09:29
75% OFF the full Crash Course on Udemy: http://bit.ly/2oZIdcP Have you ever been interested about learning different ways to structure your business? Or maybe you just need a refresher because this is on a test. Regardless, we're covering sole proprietorships, partnerships and corporations in this tutorial (with a brief side explanation of a LLP). Learn about the liability associated with each structure and some of the benefits and disadvantages that go along with each! ** NotePirate is privately owned and exclusive to NotePirate.com** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate
Views: 15785 Notepirate
Least Squares Regression Method (Cost Accounting Tutorial #9)
 
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75% Off the Complete Crash Course on Udemy: http://bit.ly/2qwRnPf ​The least squares regression method will allow us to construct a cost function using all of the data points. We'll see that the method also yields the coefficient of determination which demonstrates the correlation between our cost and cost driver. Learn more by watching this video! Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 28114 Notepirate
Preparing the Financial Statements (Financial Accounting Tutorial #25)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP This financial accounting tutorial explores how the adjusted trial balance is used to complete the 3 main financial statements: the Income Statement, the Balance Sheet, and the Retained Earnings Statement. We examine how to construct these basic finance tools, explain why you construct each statement in a specific order, and examine effects on accounts like equity. Feel free to skip over parts. It's a pretty simple tutorial where I mainly transfer account balances. We appreciate all of the support you've given us. Be a part of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com. ** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate
Views: 61772 Notepirate
The Financial Statements (Financial Accounting Tutorial #5)
 
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75% OFF the Full Crash Course on Udemy: http://bit.ly/2oZIdcP This tutorial should provide you with an elementary understanding of the Income Statement, Retained Earnings Statement, Balance Sheet and Cash Flow Statement. Examples are included like always and if you have any questions feel free to post below in the comment section :) ** NotePirate is privately owned and exclusive to NotePirate.com** Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate
Views: 30648 Notepirate
Activity Based Costing Systems for Overhead (Cost Accounting Tutorial #28)
 
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Full Crash Course on Udemy for $9.99: http://bit.ly/2Dhip74 Activity based costing (ABC) systems provide a way of splitting overhead costs into different overhead activities. The costs are then allocated to products or projects proportionally by their cost driver activity levels. Join us as we go through an example to explain ABC costing. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-Pirate/514933148520001?ref=hl Follow us on Twitter: http://twitter.com/notepirate We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! ** Notepirate is privately owned and exclusive to Notepirate.com.**
Views: 29170 Notepirate