#Shorts: Cash Flow Statement
#Shorts: In this video we go over what is the cash flow statement. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic
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#Shorts: Income Statement
#Shorts: In this video we go over what is the income statement. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic
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#Shorts: Balance Sheet
#Shorts: In this video we go over what is the balance sheet. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic
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#Shorts: Financial Statements
#Shorts: In this video we go over what are the financial statements. See our full video at: https://www.youtube.com/watch?v=WL-jc-MTgic
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#Shorts: ASC 805 A Business Defined
#Shorts on ASC 805 A business defined. There are inputs, a process, and outputs. If you have at least the first 2 you have a business. Watch the full episode here: https://www.youtube.com/watch?v=6GcJVM09GkU
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#Shorts: ASC 805 Substantially All Screener
#Shorts on ASC 805 Substantially All Screener. The screener can help turn a business combination into an asset acquisition if substantially all value is in one asset. Watch the full episode here: https://www.youtube.com/watch?v=6GcJVM09GkU
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#Shorts: Units of Production Depreciation Method
#Shorts on Units of Production Depreciation example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1
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#Shorts: Double Declining Balance Depreciation
#Shorts on Double Declining Balance Depreciation example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1
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#Shorts: Sum of Years Depreciation Method
#Shorts on Sum of Years Depreciation Method example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1
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#Shorts: Straight Line Depreciation
#Shorts on Straight Line Depreciation example. See our full video to learn about all 4 depreciation methods: https://www.youtube.com/watch?v=nqdaRZL6Tqo&list=UU1Iva-1xSychaikynKjspiQ&index=1
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Depreciation: The 4 Common Methods
In today's adventure the kids are at their first month close and have some questions on depreciation. We dive into the topic with helpful examples to explain everything from what depreciation is to how to calculate it.
There are 4 common depreciation methods in accounting. There are more, but these are the 4 most common taught in school. We go through each one. Those methods are:
- Straight Line
- Sum of Years
- Double Declining
- Units of Production
If you have questions leave it in the comment section. I or the community can help out with all your basic accounting questions.
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0:00 Depreciation Intro
0:50 Depreciation Explained
1:41 Salvage Value
2:05 Useful Life Determination
2:35 Straight Line Dep.
3:16 Sum of Years Dep.
4:13 Double Declining Dep.
5:05 Units of Production Dep.
6:00 Journal Entries
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Business Combination vs. Asset Acquisition : How to define a business
In this video we face off between what is a business combination versus a asset acquisition. This can be a tricky first step after acquiring assets and can determine a lot of downstream accounting and valuation work. In this episode we start with the basics of what defines a business in the accounting literature with ASC 805. These are your inputs, process, and outputs.
We also go over a very useful screener that may cause the purchase of a business to not be deemed a business combination. This screener is the substantially all screener. Lastly, we perform an example with Laine's acquisition to walk through how to record the entries for an asset acquisition.
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Attribution:
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2
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How to Account for a Lease Abandonment
This episode breaks down the accounting as well as other considerations when abandoning a lease under ASC 842. The accounting is broken down simply through an example to make learning easy.
How to account for subleases
In this video we explore sublease accounting. How to account for the original lease right of use asset (ROU) and lease liability as well as setup the new sublease accounting. We tackle common issues like net presentation and impairment as well.
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Accounting for Lease Modifications
In this episode we go through various lease modifications and the accounting related to each. We use visual elements to help understand how to adjust your lease accounting for any simple modifications.
Video Link: https://youtu.be/EM_KypETSN4
Let's learn what debits and credits are
It's the fundamental building block of accounting; debits and credits. In this video we explore what are debits and credits, how to make journal entries, and what T accounts are. If you want to learn the basics of accounting this is step number 1. We utilize examples to help make the learning fun and easy.
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0:00 Intro
0:56 The Accounting Equation
1:17 Debits and Credits
2:10 Journal Entries & T Accounts
2:41 JE Example 1
3:26 JE Example 2
3:56 Outro
2
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Financial Statements: Let's Learn the Basics
In this video we explore the basics of what are financial statements. The main financial statements are the balance sheet, income statement, and cash flow statement. We snuck in an extra one called the statement of equity. Utilizing a simple example we break down the basics of each and help build our first financial statements for the kids lemonade business.
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0:00 Intro
0:50 What are Financial Statements
1:59 Activity for the example
2:22 Balance Sheet
3:50 Income Statement
5:22 Cash Flow Statement
6:50 Equity Statement
7:40 Close
4
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