Search results “Gaap accounting principles concepts”
To support you can donate via PAYTM by following this link http://p-y.tm/PdIMBe8d7 OR via upi at [email protected] In this video I have tried to provide a basic idea of what GAAP is and why is it required. Hope this proves useful to anyone who watches it. Please let me know your comments on the video and if you like it please hit the like button. Do not forget to subscribe for more such videos in future. Thanks for watching my videos. Support, Share and Subscribe! Gear I use: For writing on screen: http://amzn.to/2wSA955 Microphone : http://amzn.to/2w8ktKk Laptop: http://amzn.to/2wJo8jd Link for my facebook page: https://facebook.com/thecommercetutor Website: http://www.thecommercetutor.com
Views: 75688 The Commerce Tutor
Financial Accounting: GAAP Principles and Concepts
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Views: 30215 ProfAlldredge
Generally Accepted Accounting Principles(GAAP): Financeera
A video explains the concept of Accounting Principles in detail. Highly recommended and useful for beginners in accounting or non- accounting and finance professional
Views: 14214 Gaurav sharma
GAAP Generally Accepted Accounting Principles | Financial Accounting | CPA Exam FAR
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Generally Accepted Accounting Principles | GAAP | SSC CGL 2018 | CAG AAO
GAAP for AAO in CAG through SSC CGL Paper 4 (AAO CAG). Finance and Economics paper Tier 2 . very important topic for concepts and numericals. This forms the basis of accountancy.
Views: 10170 Exambay
Accounting Principles, concepts and conventions, GAAP class 11
1. Business Entity Principle This principle assumes that, business and businessman are two separate entities.  All transactions are recorded from the point of view of business and not from the point of view of businessman.  Businessman is treated as creditor of business. 2. Money measurment Principle  Only those transactions are recorded in the books of accounts which can be measured in terms of Money.  Non – monetary transactions are not recorded in the books of accounts.  Strike, efficiency of management , quality of product, loyal employee., affects the business but cannot be measured in terms of money, that’s why they are not recorded in books of accounts. 3. Accounting Period Principle/Periodicity Principle  Life of business is indefinite, so Indefinite life is divided into periodic intervals, each intervals is known as accounting period(normally one year/12 months).  At the end of each accounting period an financial statements (P&L A/c and Balance sheet) are prepared to know the profitability and financial position of the business. 4. Cost concept or Historical cost concept  All business transaction are recorded at their cost price.  All business assets are recorded in books at cost i.e., the price paid to acquire it.  Any increase or decrease in the market price is not considered.  If nothing is paid to acquire an assets the same will not be recorded as an assets. For example : self generated goodwill, favourable location, managerial skills, moral of employee etc. 5. Matching principle  This concept is based on Accounting period concept.  In order to determined profit earned or loss suffered by a business duiring an accounting period, revenue of that period should be match with expenses incurred in that period.  Matching means association of Revenue with Related expenses.  Due to this concept adjustment should be made for like write off, outstanding expenses, prepaid expenses etc. 6. Dual Aspect Principle:  Every business transaction has double effect one is debited and other is credited.  If transaction is debited, the same should be credited with an equal amount.  Assets are always equal to liabilities.  Hence, Accounting Equation according to this principle is:  Assets = Capital + liabilities 7. Realisation principle or Revenue Recognition Principle  Revenue is considered as being earned on the date when goods are sold, wheather money is received or not. For example sales on approval not recorded as revenue until approved by customer. 8. Materiality  Only those transactions should be recorded which are material or relevant for the determination of income of the business. All immaterial or unimportant items should not be recorded.  For example: purchase of stationary is recorded as an expense even if the stationary purchased is an assets. 9. Conservatism  Anticipate no profits but provide for all possible losses.  Be ready to protect the possible losses, but don’t predict the profits.  For example: provision for bad debts.  Provision for depreciation. 10. Going concern concept/continuity concept  Business will continue for a long time.  There is neither the intention nor the necessity to liquidate the business.  Business activities will continue and transactions will be recorded accordingly. 11. consistency  one policy is used year by year, do not change the policy.  If we change the policy, accounts will not clear the financial statements.  If some proved and better method of accounting is made available it can be adopted by business, but not again and again. 12. Full disclosure  all material information should be disclosed. It means nothing should be hidden.  The concept say, “all information of A/c should show to the public not hide anything.” 13. Timliness  Provide all information to the mgmt. in time.  Record the information/transaction According to Date & time.  If information is not supplied in time it will obstruct the quick decision making.
Views: 81246 PRATHAM SINGH
Accounting Principles, concepts, conventions - Hindi
This video series is aimed to give the intermediate students of telangana and AP syllabus a fast crash course in the subject. You will learn all about accounting principles, conventions and concepts in this video explained by a CMA. Mr. S.W. Ahmed is a qualified practicing CMA. He has been associated with Cognevo Institute of Excellence for over a decade now. He brings in a lot of value to our efforts with his expertise and experience. He works with various educational organisations like Chegg, Cengange & Coursehero etc.
Introduction to GAAP (Generally Accepted Accounting Principles)
This video discusses Generally Accepted Accounting Principles (GAAP). GAAP refers to the common set of rules companies must follow when preparing financial reports for external parties (investors and creditors). Not all countries use the same GAAP. A country may adopt International Financial Reporting Standards or it may create its own local GAAP. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 57587 Edspira
Accounting principle in hindi
Thank you friends to support me Plz share subscribe and comment on my channel and Connect me through Instagram:- Chanchalb1996 Gmail:- [email protected] Facebook page :- https://m.facebook.com/Only-for-commerce-student-366734273750227/ Unaccademy download link :- https://unacademy.app.link/bfElTw3WcS Unaccademy profile link :- https://unacademy.com/user/chanchalb1996 Telegram link :- https://t.me/joinchat/AAAAAEu9rP9ahCScbT_mMA
Views: 36575 study with chanchal
#9, Accounting Principles ( part 1)
chapter 4 Accounting principles accounting entity Principle Money measurement principle Accounting period principle full disclosure principle Accounts Adda video 9 #commerce #accounts #class11
Views: 13432 Accounts Adda
#04 | Accounting Principles | Accounting Concepts | GAAP | FAA | By - Shubham Priyadarshi
#commercegyan This Video Lecture will help you in understand : 1. Business Entity Principle / Concept 2. Money Measurement Principle / Concept 3. Dual Aspect or Duality Principle / Concept 4. Going Concern Principle / Concept 5. Consistency Principle / Concept 6. Accounting Period Principle / Concept 7. Revenue Recognition Principle / Concept 8. Prudence / Conservatism Principle / Concept 9. Matching Principle / Concept 10. Materiality Principle / Concept 11. Full Disclosure Principle / Concept 12. Historical Cost / Cost Principle / Concept For Notes http://commercegyan.com/accounting-principles-basics-of-accounting/ Join us on our facebook page https://www.facebook.com/commgyan/ Our w.app No is 8368984141
Views: 190 Commerce Gyan
The Importance of GAAP
A look at why financial statement users need Generally Accepted Accounting Principles (GAAP) to make better-informed decisions about whether to provide capital, lend or donate money, or whether or not to support a voter referendum.
Introduction to GAAP and Transaction Analysis
Introduction to GAAP and transaction analysis
Views: 27063 Denise Dodson
Accounting Concepts and Principles Easy Learn Guide
This video is the perfect description of accounting concepts, assumptions and principles. It contains the following assumptions: 1. Accounting Entity Assumption 2. Money Measurement Assumption 3. Going Concern Assumption 4. Accounting Period Assumption Accounting concepts which are included in the video are: 1. Dual Aspect Concept 2. Revenue Recognition Concept 3. Historical Cost Concept 4. Matching Concept 5. Full Disclosure Concept 6. Verifiable and Objective Evidence Concept It also includes following modifying principles: 1. Cost Benefit Principle 2. Materiality Principle 3. Consistency Principle 4. Prudence Principle Thank you for watching. Please subscribe for more accounting videos. Also please follow on our Facebook page Feel free to post your doubts below and suggestions for more videos YouTube Subscribe link: https://www.youtube.com/subscription_center?add_user=q77PpKa5faZMe2ic2yc5xQ Facebook link: https://facebook.com/Wings-Add-wings-to-your-knowledge-1059913524027756/
Views: 31220 Wings Education
Generally Accepted Accounting Principles (GAAP)
This video is about some beginner's level understanding about Generally Accepted Accounting Principles (GAAP). The GAAP concepts are discussed briefly but crisply.
Views: 8738 Exambay
Accounting Concepts and Principles: Accounting Basics and Fundamentals
This lesson will teach you 7 Accounting Concepts and Principles that underly all accounting studies and practice. To add relevance, reliability and comparability throughout the behaviour of all accountants globally, accountants follow these 7 accounting concepts in all their activities. This lesson should be the first topic you study in your Introduction to Accounting knowledge journey as it lays the fundamentals for all future accounting study. You will learn about: * The Entity Concept 2:07 * The Accounting Period Concept 5:08 * The Cost Principle 8:02 * The Matching Concept 11:34 * The Profit Recognition Principle 13:49 * The Conservatism Principle 16:50 * The Going Concern Principle 20:15 Each concept is explained both with the theory and an example or two. If you apply all these concepts & principles throughout your activity as a student, bookkeeper or accountant then you will be a successful accounting professional. So whether you are a accounting student, bookkeeper or MBA candidate with a finance subject, you should find value in this lesson. You can also get in touch anytime if you need any further help or clarification beyond the lesson. Just check out the contact details in our YouTube Channel. --------------------- Thumbnail Portrait: Photo by Bruce Mars from Pexels --------------------- This video was brought to you by AccoFina. Subscribe to the Channel: https://goo.gl/84Sfeg Or just check out the Channel Page: https://goo.gl/yTj9Bs Here’s AccoFina’s Most Popular YouTube Video: https://goo.gl/Jbv685 And here’s AccoFina’s Latest YouTube Upload: https://goo.gl/wDM83Y AccoFina Website, Product Pages and Social Networking: 1) Website (includes Free Spreadsheets, Free Books and Free Calculators) http://www.accofina.com 2) Amazon Author Page: http://www.amazon.com/author/axeltracy 3) Udemy Instructor Page https://www.udemy.com/u/axeltracy/ 4) Facebook http://www.facebook.com/accofinaDotCom 5) Twitter http://www.twitter.com/accofina 6) Google+ http://plus.google.com/+accofina
Views: 161934 AccoFina
Review of Financial Accounting - Principles, Assumptions, & Constraints
For more videos like this go to www.patrickleemsa.com. Join Robinhood and we'll both get a share of stock like Apple, Ford, or Sprint for free. To do so, make sure you click on this link: https://share.robinhood.com/patrickl803 ___________________________________ NETWORK WITH ME! PATRICKLEECPA Twitter - https://twitter.com/patrickleecpa Website – https://www.patrickleecmsa.com ___________________________________________ Send a letter or send something cool about how you’re using these videos. Patrick Lee, MSA PO Box 936 Winfield, Kansas 67156 ___________________________________________ WORK WITH ME! CONTACT US: [email protected]
Views: 12855 Patrick Lee
01 GAAP General Accepted Accounting Principles
Generally accepted accounting Principles Introduction: Basic Accounting Principles And Guidelines. The general rules and conceptions that govern the subject of accounting are known as basic accounting principles and guidelines. The complicated, legalistic and detailed accounting rules are based on these basic accounting principles and guidelines. For instance, the FASB (Financial Accounting Standards Board) uses these basic accounting principles and guidelines as a basis for their own thorough and broad set of accounting rules and procedures. Generally accepted accounting Principles consists of the flowing three important sets of rules: (1) the basic accounting guidelines and principles, (2) the thorough rules and principles issued by FASB and its ancestor the APB (Accounting Principles Board) (3) The commonly acknowledged industry practices. Basic Accounting Principles and Guidelines Since GAAP is founded on the basic accounting principles and guidelines, we can better understand GAAP if we understand those accounting principles. The following is a list of the ten main accounting principles and guidelines together with a highly condensed explanation of each. 1. Economic Entity Assumption 2. Monetary Unit Assumption 3. Time Period Assumption 4. Cost Principle 5. Full Disclosure Principle 6. Going Concern Principle 7. Matching Principle 8. Revenue Recognition Principle 9. Materiality 10. Conservatism
Views: 279 Knowledge Zone
What is GAAP?
GAAP stands for Generally Accepted Accounting Principles; these are the standard and commonly accepted ways of recording and reporting accounting. GAAP is the acronym for generally accepted accounting principles. That means the basic accounting principles and guidelines such as the cost principle, matching principle, full disclosure, etc., the detailed standards and other rules issued by the Financial Accounting Standards Board and its predecessor the Accounting Principles Board, and generally accepted industry practices. GAAP must be adhered to when a company distributes its financial statements outside of the company. If a corporation's stock is publicly traded, the financial statements must also adhere to rules established by the overseeing governmental agency. This includes having its financial statements audited by an independent accounting firm. Accountants use generally accepted accounting principles to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession. In 2008, the Securities and Exchange Commission issued a preliminary "roadmap" that may lead the United States to abandon Generally Accepted Accounting Principles in the and to join more than 100 countries around the world instead in using the London-based International Financial Reporting Standard. The SEC expressed their aim to fully adopt International Financial Reporting Standards in the U.S. by 2014. With the convergence of the U.S. GAAP and the international IFRS accounting systems, as the highest authority over International Financial Reporting Standards, the International Accounting Standards Board is becoming more important in the United States. By Barry Norman, Investors Trading Academy
Accounting Principles | Entity | Going Concern Concept | GAAP | LetsTute Accountancy
Check out our new video on Accounting Principles | Entity | Going Concern Concept | GAAP This video explains the need for accounting principles / GAAP & what is the entity and going concern concept with an example. We have attached a PDF where one can get a quick glance of the whole chapter in few minutes. You will understand need and importance of all the accounting principles and conventions. Also, entity concept, going concern concept, money measurement, cost principle, revenue recognition, objective evidence, dual aspect, matching principle, accrual concept, materiality, consistency, conservatism, full disclosure, etc explained in detail. There are objective type questions on accounting principles and conventions. Link:- https://goo.gl/p17wRU You can buy our entire course on Accountancy : Amazon : https://goo.gl/c7Gq3m Udemy : https://bit.ly/2JwpfGJ Subscribe Us For More Updates: Link : https://goo.gl/pH6rtu Website : http://www.letstute.com/ To Get Regular Content Updates- Like Us On Facebook : https://www.facebook.com/letstutepage Follow Us On Twitter : https://twitter.com/letstute Add Us On Google+ for updates on our upcoming Videos https://plus.google.com/+Letstute Email us @ [email protected] WhatsApp your Queries on +91 7506363600 Visit our other channels LetsTute - Math / Sciecne / EVS http://bit.ly/1Q85cNP LetsTute Cbse Math https://goo.gl/kMGY4X LetsTute in Hindi https://www.youtube.com/channel/UCz17OJWV27c5FZKKBlLDXEw? Values to Lead (Value Education) http://bit.ly/1poLX8j
Views: 79332 Letstute Accountancy
Accounting Principles - Money Measurement | Accounting Concepts | LetsTute Accountancy
Check out our video on "Accounting Principles - Money Measurement | Accounting Concepts” I hope you enjoy this online lecture on "Accounting Principles - Money measurement concept | Gaap | LetsTute Accountancy" by LetsTute. #accountancy #accounting generally accepted accounting principles #gaap #ifrs You can buy our course for Accounts which includes video lectures, Assessments and Quiz from, Udemy: http://bit.ly/2Dk7c2D To Get Regular Content Updates- Facebook : https://www.facebook.com/letstutepage Twitter : https://twitter.com/letstute Google+: https://plus.google.com/+Letstute For Queries: Email: [email protected] Call / WhatsApp: +91 7506363600 Visit our other channels: LetsTute : http://bit.ly/1Q85cNP LetsTute CBSE Math: http://bit.ly/2h1B2lP Values to Lead (Value Education): http://bit.ly/1poLX8j
Accounting  Principles & Concepts | Accounting Concepts | 11th | CA-CPT - By CA Pardeep Jha
Accounting Principles & Concepts, Basic Accountancy by CA. Pardeep Jha, for XIth C.B.S.E. I've explained all the Basic Accounting Concepts and Principles of Double entry Book Keeping. Accrual Concept is discussed in detail in a separate video, Here is the link - https://youtu.be/R2kyJLau5_g This video covers - What is - 1. Prudence /Conservatism Concept 2. Money Measurement Concept 3. Full Disclosure 4. Materiality Concept 5. Cost Concept 6. Matching Concept 7. Realization concept 8. Accrual Concept 9. Consistency Concept 10. Entity Concept 11. Dual Aspect Concept 12. Going Concern Concept 13. Periodicity Concept You can Ask your Queries here or on our Facebook Page www.facebook.com/winningquest Prudence /Conservatism Concept Money Measurement Concept Full Disclosure Materiality Concept Cost Concept Matching Concept Realization concept Accrual Concept Consistency Concept Entity Concept Dual Aspect Concept Going Concern Concept Periodicity Concept What is Prudence /Conservatism Concept What is Money Measurement Concept What is Full Disclosure What is Materiality Concept What is Cost Concept What is Matching Concept What is Realization concept What is Accrual Concept What is Consistency Concept What is Entity Concept What is Dual Aspect Concept What is Going Concern Concept What is Periodicity Concept
Views: 2708 Winning Quest
Accounting Concepts and Principles
Video project for our Accounting 1 assignment (using powtoon)
Accounting Principles - What is Cost Concept | Accounting Concepts | LetsTute Accountancy
Check out our video on "Accounting Principles - What is Cost Concepts | Accounting Concepts” We have attached a PDF where one can get a quick glance of the whole chapter in few minutes. You will understand need & importance of accounting principles and conventions. Also, entity concept, going concern concept, money measurement, cost principle, revenue recognition, objective evidence, dual aspect, matching principle, accrual concept, materiality, consistency, conservatism & full disclosure are explained in detail. Link :-https://goo.gl/nT4fqj I hope you enjoy this online lecture on "Accounting Principles - Cost Concept | Gaap | LetsTute Accountancy" by LetsTute. #accountancy #accounting #generally accepted accounting principles #gaap #ifrs #concepts You can buy our course for Accounts which includes video lectures, Assessments and Quiz in the form of: Online Courses: Udemy: http://bit.ly/2Dk7c2D To Get Regular Content Updates- Facebook : https://www.facebook.com/letstutepage Twitter : https://twitter.com/letstute Google+: https://plus.google.com/+Letstute For Queries: Email: [email protected] Call / WhatsApp: +91 7506363600 Visit our other channels: LetsTute : http://bit.ly/1Q85cNP LetsTute CBSE Math: http://bit.ly/2h1B2lP Values to Lead (Value Education): http://bit.ly/1poLX8j
Views: 2901 Letstute Accountancy
#10, Accounting Principles( Part 2)
different types of accounting principles class 11th accounts materiality principle prudence principle cost concept of historical cost concept matching concept accounts Adda video 10 #commerce #accounts #class11
Views: 8068 Accounts Adda
NFRA, GAAP, AS, IND AS, IFRS all Concepts | in hindi
Free Study Material for paper 1, 2 https://youtu.be/sLn6SJqhiMU For notes and PDF: https://navclasses.blogspot.in/2018/03/gaap-as-ind-as-ias-ifrs-nfra-notes.html Full Study Playlist for CBSE UGC NET in Hindi: https://goo.gl/1NvyMk Paper 1 Important topics and time table for UGC NET June 2018: https://youtu.be/-MKDioVT0Zk Human resource management in Hindi: https://goo.gl/v96yPm If any one wants to get PDFs by Navclasses then click here: https://www.facebook.com/groups/navclasses/files/ Subscribe Nav Classes for regular lectures Ask you doubts here in comment box If any one wants to get PDFs by Navclasses then click here: https://www.facebook.com/groups/navclasses/files/ Nav classes Videos in English language: https://goo.gl/iXUuG8 CBSE UGC NET in Hindi: https://goo.gl/1NvyMk Data Interpretation tricks: https://goo.gl/Or5lWg HRD lectures in Hindi: https://goo.gl/MiPZLF HRD lectures in English: https://goo.gl/Hg7cWg Reasoning Tricks in Hindi: https://goo.gl/WULwTn Math Tricks: https://goo.gl/3WYJDu CBSE UGC NET: https://goo.gl/j4qvzZ SHRM: https://goo.gl/oMU6IP Human resource management in English: https://goo.gl/2E4Py8 Human resource management in Hindi: https://goo.gl/v96yPm Arrangement puzzles: https://goo.gl/xWFWSP Syllogisms: https://goo.gl/chw3Vq Nav Online Classes for all commerce Lectures & tricks to crack exams All carve for Knowledge ends here Here you will get all possible help and personal assistance Procedure 1. Subscribe https://goo.gl/r6rSqV and Ring Bell with it to get all lectures on your inbox 2. New lecture Daily Featured Sunday for CBSE UGC NET, SSC, CGL, BANK PO, IBPS, Railway, CPO, UPSC, BOB & NIACL AO and ASSISTANT, DENA BANK, SBI PO MAINS 3. Google Group for more interaction: https://groups.google.com/d/forum/navclasses 4 like Facebook Page: https://www.facebook.com/navclassesonline/ 5 Join Fb Group https://www.facebook.com/groups/navclasses/ Subscribe to http://navclasses.blogspot.in/ for written notes and MCQs
Views: 12863 Nav classes
#8, Theory base of accounting - concept, conventions, assumptions(Part 1)
basic accounting concepts and conventions Going Concern assumption consistency assumption accrual assumption class 11 chapter 3 accountancy basic Accounting Principles accounts Adda video 8 #commerce #class11 #accounts
Views: 10309 Accounts Adda
In this video I discussed about GAAP , and 14 Accounting Concepts and conventions with examples. U can pause the video and take the notes also. This notes are the summery of three standard books of ACCOUNTING. This video series is helpful for BBA , MBA AND B.COM , 11, 12 CLASS STUDENTS.
Views: 357 POOJA SINGH
3.1 Accounting Principles and Concepts (XI Accounts) (Complete Video)
Class - XI Accounts [Accounting Principles and Concepts] For all videos of Class XI Accounts. visit:- myepathshala.com. You can also download all the notes of chapter in pdf format from our website free of cost. http://myepathshala.com/classes/subject/chapter/class-11/accounts
Views: 1109 Anurag classes
Accounting Concepts and Principles explained in Malayalam
Easy Explanation in Malayalam
Views: 11729 Koshy Thomas
Accounting Principles, Concepts, Conventions (Lec 1/2) | Class 11 Accounts | by Ankit Kansal
This is 1st lecture on Accounting Principles, Concepts & Conventions recorded by Ankit Kansal (CA, Bcom (H), CFA L3 Candidate) as part of complete video series on Class 11 Accountancy. Follow us on Facebook: https://m.facebook.com/kansalconsulting/ https://www.facebook.com/kansalconsulting/ This lecture is also useful for SSC AAO exams, MBA, Bcom, BBA etc. People with zero knowledge of finance or accounts can start learning accounts from this lecture. This is the first step in direction of mastering complete understanding of accounting. This lecture contains following concepts under Accounting terms: 1. Why accounting principles are required to be studied. 2. Detailed discussion on A) Business Entity Principle, B) Money Measurement Principle, C) Accrual concept, D) Matching Principle, & E) Conservatism/ Prudence principle with examples. Please mail your queries at [email protected] Follow us on Facebook: https://m.facebook.com/kansalconsulting/ https://www.facebook.com/kansalconsulting/ For Basic GST understanding watch......... https://www.youtube.com/watch?v=3fXpYQpbcOM&t=389s For Cash Book watch........ https://www.youtube.com/watch?v=xQZLRWeTDAU&t=266s For Accounting Terms watch...... https://www.youtube.com/watch?v=11WZnkrA81g&t=66s
Views: 16356 Kansal Consulting
What are GAAP | Accounting Concepts | Principles & Conventions | CA CPT | CS & CMA | Class 11
What are GAAP, Learn Basics of Accounting Introduction. We have covered Meaning & Scope of Accounting, Accounting Concepts, Principles & Conventions, brief of accounting standards, Accounting Policies and Measurement Discipline. For Details Visit http://www.meraskill.com/ca-cpt/accounts/introduction-to-accounting WhatsApp Now 8692900017 http://www.meraskill.com/ Our other chapters in this series Accounts by Sheela Madam http://bit.ly/AcctsIntro http://bit.ly/AcctJournaltoCB http://bit.ly/CR_ROE http://bit.ly/BankRecoS http://bit.ly/MSInventory http://bit.ly/MSDep http://bit.ly/MSFinalAc http://bit.ly/MSConsignment http://bit.ly/MSJointV http://bit.ly/MSBillsOfExchg http://bit.ly/MSSalesReturn http://bit.ly/MSPartnership1 http://bit.ly/MSPartnership2 http://bit.ly/MSCompanyActs1 http://bit.ly/MSCompanyActs2 Law by Bharat Sir http://bit.ly/MSNatureofContract http://bit.ly/MSConsideration http://bit.ly/MSEssentialElements http://bit.ly/MSPerformanceOfContract http://bit.ly/MSBreachOfContract http://bit.ly/MSContingent_Quasi http://bit.ly/MSFormationContractOfSale http://bit.ly/MSCondition_Wattanties http://bit.ly/MSTransferOfOwnership http://bit.ly/MSUnpaidSeller http://bit.ly/MSNatureOfPartnership http://bit.ly/MSRelationshipOfPartners http://bit.ly/MSRegistration_Dissolution Micro by Bharat Sir http://bit.ly/MSIntroMicroEconomics http://bit.ly/MSDemand http://bit.ly/MSTheoryofCB http://bit.ly/MSSupply http://bit.ly/MSTheoryOfProd http://bit.ly/MSTheoryOfCost http://bit.ly/MSMarket http://bit.ly/MSPriceDetermination Macro by Jaya Madam http://bit.ly/MSNatureOfIndianEconomy http://bit.ly/MSRoleOfDiffSectors http://bit.ly/MSNationalIncome_Tax http://bit.ly/MSPopulation_Poverty_Unemployment http://bit.ly/MSInfrastuctureChallnges http://bit.ly/MSBudget_Money_Banking http://bit.ly/MSEconomicsReforms Maths by Anand Sir http://bit.ly/MSRatio_Propr http://bit.ly/MSIndices_Log http://bit.ly/MSEquations http://bit.ly/MSInequalities http://bit.ly/MSInterest http://bit.ly/MSPermutaion_Combination http://bit.ly/MSAP_GP http://bit.ly/MSSets_Function http://bit.ly/MSLimits http://bit.ly/MSDifferentiation http://bit.ly/MSIntegration
Views: 11278 Mera Skill
Accounting Principles - GAAP Principles Tutorial 9 of 10
The 9th tutorial video on financial accounting continues to explain the GAAP. In this video Principles are covered. The cash and accrual basis of accounting is explained and so are the different methods of revenue recognition. Other concepts covered in this video are Matching concept, full disclosure and cost basis of accounting. Videos 7, 8 9 and 10 together cover details of financial accouting generally accepted Accounting Principles or GAAP.
Views: 10750 CXOLearningAcademy
Generally Accepted Accounting Principles (GAAP) | Accounting | Chegg Tutors
Manufacturing Companies help track their units in work in process using a method called equivalent units. Equivalent Units are partially completed units translated into whole units. Accounting for whole units is much easier to track than if they were seen as partially completed units. To properly calculate equivalent units, companies must first figure the total units to account for. From there, calculate the number of units that were completed from the Beginning Work in Process batch, units started and completed and ending work in process. Under the FIFO method, manufacturers are only focusing on what was completed during the period. This allows them target current period expenses since beginning work in process are comprises the oldest units that will leave first once after completion. ---------- Accounting tutoring on Chegg Tutors Learn about Accounting terms like Generally Accepted Accounting Principles on Chegg Tutors. Work with live, online Accounting tutors like Nathan G. who can help you at any moment, whether at 2pm or 2am. Liked the video tutorial? Schedule lessons on-demand or schedule weekly tutoring in advance with tutors like Nathan G. Visit https://www.chegg.com/tutors/Accounting-online-tutoring/?utm_content=managed&utm_medium=video&utm_source=youtube&utm_campaign=videotutorials ---------- About Nathan G.,Accounting tutor on Chegg Tutors: Texas State, Class of 2010 Finance/Accounting Major Subjects tutored: Accounting TEACHING EXPERIENCE Educated from Texas State University, I received my BBA Accounting in 2010. During college, I would often study with classmates. I noticed how much I enjoyed helping them with Accounting. I then knew I had a skill underutilized. My passion for tutoring fuels my desire to see you succeed. With over 7 years of instructional experience, I will provide the tools to help you master Accounting. Check out my YouTube Channel to learn more about Accounting: https://www.youtube.com/channel/UCCyBG-qtLqfvCdSG34ES8Ag. EXTRACURRICULAR INTERESTS I am a man of many tastes. I really enjoy technology, racquetball, basketball, real estate investing practices, web development, and comedy! I love diversifying my interests so I never get bored lol. Hope to hear from you soon! We'll setup a plan to help you succeed in Accounting. Want to book a private lesson with Nathan G.? Message Nathan G. at https://www.chegg.com/tutors/online-tutors/Nathan-G-862370/?utm_source=youtube&utm_medium=video&utm_content=managed&utm_campaign=videotutorials ---------- Like what you see? Subscribe to Chegg's Youtube Channel: http://bit.ly/1PwMn3k ---------- Visit Chegg.com for purchasing or renting textbooks, getting homework help, finding an online tutor, applying for scholarships and internships, discovering colleges, and more! https://chegg.com ---------- Want more from Chegg? Follow Chegg on social media: http://instagram.com/chegg http://facebook.com/chegg http://twitter.com/chegg
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Accounting Assumptions and Principles | Intermediate Accounting | CPA Exam FAR | Chp 2 p 3
Conceptual framework for financial reporting, statement of financial accounting concepts, Conceptual framework, elements of financial statements, recognition and measurements, qualitative characteristics of accounting information, GAAP, SEC, FASB, CPA exam, he Entity Concept, The Accounting Period Concept, The Cost Principle, The Matching Concept, The revenue Recognition Principle, The Conservatism Principle, The Going Concern Principle. In the practice of financial accounting, certain basic assumptions are important to an understanding of the manner in which data are presented. The following four basic assumptions underlie the financial accounting structure: Economic Entity Assumption.  Economic activity can be identified with a particular unit of accountability in a manner that assumes the company is separate and distinct from its owners or other business units. Going Concern Assumption. In the absence of contrary information, a company is assumed to have a long life. The current relevance of the historical cost principle is dependent on the going-concern assumption. Monetary Unit Assumption. Money is the common denominator of economic activity and provides an appropriate basis for accounting measurement and analysis. The monetary unit is assumed to remain relatively stable over the years in terms of purchasing power. In essence, this assumption disregards any inflation or deflation in the economy in which the company operates. Periodicity Assumption. The economic activities of a company can be divided into artificial time periods for the purpose of providing the company’s periodic reports. Basic Principles 10. (L.O. 7) Certain basic principles are followed by accountants in recording and reporting the transactions of a business entity. These principles relate to how assets, liabilities, revenues, and expenses are to be identified, measured, and reported. Measurement Principle. A ‘mixed-attribute’ system permits the use of various measurement bases. Historical Cost Principle. Acquisition cost is considered a reliable basis upon which to account for assets and liabilities of a company. Historical cost has an advantage over other valuations, as it is thought to be verifiable. Fair Value Principle. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in on orderly transaction between market participants at the measurement date. Recently, GAAP has increasingly called for the use of fair value measurements in the financial statements. Revenue Recognition Principle. Revenue is recognized at the time in which the performance obligation is satisfied. Expense Recognition Principle. Recognition of expenses is related to net changes in assets and earning revenues. The expense recognition principle is implemented in accordance with the definition of expense by matching efforts (expenses) with accom-plishment (revenues). Product costs, such as material, labor, and overhead, attach to the product, and are recognized in the same period the products are sold. Period costs, such as officers’ salaries and other administrative expenses, attach to the period, and are recognized in the period incurred. Full Disclosure Principle. In the preparation of financial statements, the accountant should include sufficient information to influence the judgment and decision of an informed user. A series of judgmental tradeoffs must occur. Cost Constraint 11. (L.O. 8) Although accounting theory is based upon certain assumptions and the application of basic principles, there are some exceptions to these assumptions. One exception is often called a constraint, and sometimes justifies departures from basic accounting theory. Cost Constraint. The cost constraint (or cost-benefit relationship) relates to the notion that the benefits to be derived from providing certain accounting information should exceed the costs of providing that information. The difficulty in cost-benefit analysis is that the costs and especially the benefits are not always evident or measurable.
Accounting Principles Interview questions
job interview for Accounting Principles.What Is The Difference Between Financial Accounting And Management Accounting?What Is The Difference Between Product Costs And Period Costs?What Is The Matching Principle?
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Accounting Concepts, Conventions and Principles - CA-CPT, CA Foundation  By CA Harish Miglani
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Accounting Principles
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Financial Accounting: Add'l GAAP Concepts & Principles
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#11, Accounting Principles (Part 3)
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Financial Accounting - GAAP Principles and Concepts by Dave Alldredge
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ACCOUNTING-PRINCIPLES#Explained#For Class 11,CA,CS,CMA & All Commerce Students.
•°•°•°•SUPPORT & CONTRIBUTE US•°•°•°• If Videos are helpful to you. •••धन्यवाद••• EVERY CONTRIBUTION IS HELPFUL This will motivate me to bring more Useful Videos for you, •°•°By CLICKING on the Link below:- https://pmny.in/aIRgNgmBUdRh https://youtu.be/9xXBdAa18_I 》JOURNAL ENTRIES CLASS 11 & FOR ALL COMMERCE STUDENTS《 https://youtu.be/8CZj8WQxnSs •Chapter-1•--Class 11 Meaning of Accounting, Accountancy & Book-keeping. https://youtu.be/FeQZZOK_hqs •Chapter-ACCOUNTING EQUATION CLASS-11• https://youtu.be/EePmInhwc-0 •Chapter-1 Class 11 Introduction to Accounting TOPIC:-OBJECTIVES OF ACCOUNTING •ACCOUNTING-PRINCIPLES• Explained with Step by step instructions. Useful for Class 11,CA,CS, CMA and all Commerce Students. ••Very Important Concepts•• Theory Base of Accounting •BUSINESS ENTITY CONCEPT •MONEY MEASUREMENT CONCEPT •ACCOUNTING PERIOD CONCEPT •FULL DISCLOSURE CONCEPT •MATERIALITY CONCEPT •PRUDENCE/CONSERVATIVE PRINCIPLE •COST CONCEPT •DUAL ASPECT CONCEPT •REVENUE RECOGNITION PRINCIPLE •VERIFIABLE OBJECTIVE PRINCIPLE
FASB's Conceptual Framework for Accounting
This video provides an overview of the conceptual framework created by the Financial Accounting Standards Board (FASB) to guide the development of Generally Accepted Accounting Principles (GAAP) in the United States. The conceptual framework includes the objective of financial reporting, the elements of financial reports (assets, liabilities, etc.), and the qualitative characteristics of accounting information. The conceptual framework also highlights assumptions that are made when preparing financial reports, as well as several principles and constraints that affect financial accounting. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
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