Learn accounting basics such as bookkeeping, journal entries, profit and loss, balance sheet, depreciation, bad debts, accounting concepts and much more.
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Question: say you record provision for bad debts for a particular period, then later on a particular person doesn't pay their debt. What are the a/cs affected and how do you do the recording?
i have a question.eg. the year ended at 31 july 2006 and at that date we have to accrued $90 for bill expenses . So what should i do like doing working
I've watched 5 videos on capital and still no one can give me a simple laymen's definition. I think one of the problems is that many people use it interchangeably with money. Is capital all of the positive assets of a company? money and assets = capital?
Very informative, but how do u record changes in GST/VAT payable and credits? If you have paid less money for the product you will also have to claim less tax. And vice versa with payable. If u receive less money you will also have to pay less tax. Unsure how to record this in general ledger/journal
Good video but your examples are much easier the other way around, at least in my country, electricity is a accrual, as you use it then are billed and rent is paid in advance then you use it.
I had to do home internet wifi @cable america and they fuckin rip me off I stopped using their internet and return all their equipment 3 months later they told me I have bad debt I dont know what I owe them
Hello, I really like your explanation on accounting I wanna know the meaning of doubtful debts, prov. for doubtful debts and Depreciation, prov.for depreciation. I hope you could explain it in a easier way thank you
Thank you for the kind comment and watching! The links below should help explain the topics you mention. New content will be coming out soon as well so make sure to subscribe :) Bad Debts and the Provision for Doubtful Debts ru-vid.com/group/PL3cdk_SU0v332nMXjQZxm9od0r-sPGsBE Depreciation, Methods of Depreciation, Revaluation and Disposals ru-vid.com/group/PL3cdk_SU0v30L7xrOWRSqfCaSkJ9a6JQb
so would capital and capital assets be the same thing? because capital assets aka long term assets ar items that are purchased that assist in the production of the company and provide benefits to the business and its owners.
Definition: Assumes that the business will continue operating in the foreseeable future. Example: If a company is planning to close down in the near future, the going concern concept is not applicable. Assets may need to be valued based on the expected selling price in case of closure.
