Debt Issuance: Discounts, Premiums, & Issuance Costs
In this episode we dive into the accounting of debt issuance accounting. We look at what are debt issuance costs and how the new guidance provides you to net these costs against debt and amortize them over the life of the debt using the effective interest method.
We also dive into debt discounts and premiums. Everything from examples and journal entries. We also dive into excel and show how to calculate the effective interest rate as well as setup a debt amortization schedule within excel. We show how you can use the Goal-Seek Function within excel as well to solve for the effective interest method.
0:00 Intro
0:53 New Guidance
1:33 Discounts and Premiums
2:02 Journal Entries
2:29 Subsequent Accounting
2:39 Effective Interest Method
2:57 Discount Excel Example
3:57 Excel Goal Seek Function
4:28 Premium Excel Example
4:51 Yr 1 Journal Entries
5:23 Cash Flow Presentation
5:49 Close
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#Shorts: Net Operating Losses (NOLs)
#Shorts: This video is a short of our full video https://www.youtube.com/watch?v=0J5jkDAc2xY
In this one we discuss what are net operating losses and deferred tax assets. We also address valuation allowances (VAs).
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#Shorts: Deferred Tax Asset (DTA)
#Shorts: This video is a short from our full video: https://www.youtube.com/watch?v=0J5jkDAc2xY
In this one we explain the difference between DTL and DTAs.
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#Shorts: Deferred Tax Liability Example: Depreciation
#Shorts: This short is from our full video: https://www.youtube.com/watch?v=0J5jkDAc2xY
In this one we go through example of how a deferred liability can come about due to differences in tax depreciation under MACRS and accounting depreciation.
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#Shorts: Temporary Difference Example: Cash vs. Accrual
#Shorts: This is a short from our full video: https://www.youtube.com/watch?v=0J5jkDAc2xY
In this short we show an example of how a deferred tax liability can exist due to cash versus accrual accounting. We also run through the journal entries of setting up a deferred tax liability and unwinding that deferred in the future.
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#Shorts: Depreciation - Accounting Differences and Tax Differences
#Shorts: This short is from our full video: https://www.youtube.com/watch?v=0J5jkDAc2xY. This one briefly touches on accounting law and tax law differences using depreciation as the best example. We explain MACRS depreciation.
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#Shorts: Taxes - Temporary Differences
This is a short from our full video: https://www.youtube.com/watch?v=0J5jkDAc2xY
This short goes over the basics of temporary differences and what causes them in relation to taxes and completing your tax provison
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#Shorts: Taxes - Permanent Differences
This a short from our full video at: https://www.youtube.com/watch?v=0J5jkDAc2xY
This video quickly explains what are permanent differences in relation to taxes and completing your tax provision.
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#Shorts: Tax Provision Basics
Please watch our full video on taxes: https://www.youtube.com/watch?v=0J5jkDAc2xY
This short is the basics of a basic tax provision. Hope you learn something new.
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Tax Provision: Deferred Taxes
In this video we dive into everyone's favorite topic....taxes. We focus much of the episode on deferred taxes, but start with the basics of a tax provision. We briefly discuss permanent differences, and then dive into temporary differences that usually cause a deferred tax liability (DTLs). We walk through two examples of those deferred tax liabilities and even the journal entries associated.
The video also addresses deferred tax assets (DTAs), Net Operating Losses (NOLs), and Valuation Allowances (VAs).
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0:00 Intro
0:15 Taxable Income
0:43 Tax Provision
1:02 Permanent Differences
1:33 Temporary Differences
2:04 PPE Dep. Temp. Diff.
2:57 Example: Cash vs Accrual
3:28 Example: Journal Entries
3:52 Example: Depreciation
4:45 Deferred Tax Asset (DTA)
5:10 Example: (NOLs)
5:33 Valuation Allowance
6:03 Close
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#Shorts: Are You Ready For Accounting
This video is a short of a joke intro of my inventory accounting episode. Please watch the full video at : https://www.youtube.com/watch?v=OOORjkeLjXU
As well as an additional example of the FIFO method: https://www.youtube.com/watch?v=lx49vFDBm1w
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#Shorts: 3 Inventory Accounting Methods
This video is a short of three Inventory Method (FIFO, LIFO, & WAC). Please watch the full video at : https://www.youtube.com/watch?v=OOORjkeLjXU
As well as an additional example of the FIFO method: https://www.youtube.com/watch?v=lx49vFDBm1w
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#Shorts: First in First Out Inventory Method (FIFO)
This video is a short of what is the First in First Out Inventory Method (FIFO). Please watch the full video at : https://www.youtube.com/watch?v=OOORjkeLjXU
As well as an additional example of the FIFO method: https://www.youtube.com/watch?v=lx49vFDBm1w
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#Shorts: Last in First Out Inventory Method (LIFO)
This video is a short of what is the Last In First Out Inventory Method (LIFO). Please watch the full video at : https://www.youtube.com/watch?v=OOORjkeLjXU
As well as an additional example of the FIFO method: https://www.youtube.com/watch?v=lx49vFDBm1w
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#Shorts: Weighted Average Cost (WAC) Inventory Method
This video is a short of what is the Weighted Average Cost Inventory Method (WAC). Please watch the full video at : https://www.youtube.com/watch?v=OOORjkeLjXU
As well as an additional example of the FIFO method: https://www.youtube.com/watch?v=lx49vFDBm1w
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Inventory Accounting: FIFO, LIFO, & WAC
In this video we explore several common inventory accounting techniques. These include:
- First in First Out (FIFO)
- Last in First Out (LIFO)
- Weighted Average Cost (WAC)
We explain how each method works and advantages. FIFO is the most widely utilized, but LIFO is taught in the US along side FIFO. WAC is utilized heavily in several industries and is also a good technique to learn.
Lastly we run through an example across all 3 inventory techniques, so you can see the differences step by step.
0:00 Joke Intro
0:22 FIFO
1:05 LIFO
1:41 WAC
2:18 Example A 1&2
2:45 Ex. A.3
3:43 Ex. A.4
4:07 Ex. A.5
5:25 Close
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FIFO Inventory Example
The most common inventory method deserved another example. In this episode we run through an example of FIFO. If you want to learn more about the method overall watch our original video on the subject: https://www.youtube.com/watch?v=OOORjkeLjXU
Besides just doing a FIFO inventory example we also focus on some common test questions such as how to determine your inventory balance and cost of goods sold. We try to look at those questions from two techniques that may be helpful.
0:00 Intro + Activity 1
0:26 Activity 2
0:50 Activity 3
1:06 Activity 4
1:32 Activity 5
2:03 Inv. Balance Alternative
2:59 COGS Alternative
3:39 Outro
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#Shorts: Held for Sale Presentation
#Shorts: In this short we determine how to present held for sale in your financials. Check out the full length episode: https://www.youtube.com/watch?v=3b13yyhohWM
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#Shorts: Held for Sale Goodwill Allocation
#Shorts: In this short we determine what to do with goodwill when you have a component held for sale. Check out the full length episode: https://www.youtube.com/watch?v=3b13yyhohWM
Music from Uppbeat (free for Creators!): https://uppbeat.io/t/prigida/prism License code: LVPM1QWDUQOZWQGV
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#Shorts: Determining a Strategic Shift
#Shorts: In this short we determine what is a strategic shift. This is a step when determining if you qualify for discontinued operations. Check out the full length episode: https://www.youtube.com/watch?v=3b13yyhohWM
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#Shorts: Qualifying as a Business
#Shorts: In this short we determine how to qualify as a business. Check out the full length episode: https://www.youtube.com/watch?v=3b13yyhohWM
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#Shorts: What is a component?
#Shorts: In this short we determine what is a component. This is useful for multiple accounting aspects, but in the full episode for held for sale accounting. Check out the full length episode: https://www.youtube.com/watch?v=3b13yyhohWM
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#Shorts: Qualifying for Held for Sale
#Shorts: In this short we determine how to qualify for held for sale. Check out the full length episode: https://www.youtube.com/watch?v=3b13yyhohWM
Music from Uppbeat (free for Creators!): https://uppbeat.io/t/prigida/prism License code: LVPM1QWDUQOZWQGV
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Held for Sale Accounting
We make a few pet puns in this one. Like if you enjoy them. Comment with your favorite animal puns.
In this episode we focus in on how to account for a sale of assets. We start with when you qualify for Held for Sale Accounting. Then discuss why discontinued operations is hard to qualify for since ASU 2014-08. We also discuss goodwill allocation, impairment exceeding non-financial assets, presentation in the financial statements, and how to adjust the fair value over time.
We also define:
- A component
- A business
- A strategic shift
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0:00 Intro
1:09 Held for Sale Qualifications
2:00 Discontinued Operations
2:28 Component
2:56 Business
3:05 Strategic Shift
3:58 Goodwill
4:48 Impairment
5:43 Presentation
6:05 Adjustments
6:18 Close and Puns
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#Shorts: Statement of Equity
#Shorts: In this video we go over what is the statement of equity. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic
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