Let's Tute
Reading Financial Statements
In this video, a teacher explains how to read and interpret financial statements in a simple language. They compare the financial statements of two businesses and analyze important factors such as gross profit, expenses, cash management,...
Let's Tute
Difference between Consignment and Sales
In this video, we will teach the difference between consignment and sale
Let's Tute
Introduction to Consignment Accounting: Valuation of Goods-in-Transit
Introduction to Consignment Accounting part 10/10: In this video, the teacher explains the concept of goods in transit and how they are valued in stock. Using an example, the teacher walks through the calculation of closing stock value,...
The Business Professor
Profit Center Performance - Variable and Absorption Income Statements
Measuring the performance of a profit center is based upon the reporting of profits and losses. Pursuing an absorption or variable costing approach for inventory will alter the gross profit calculation.
Let's Tute
Consignment Accounting: Preparing Ledger Accounts for Consignment and Goods Destroyed by Fire
In this video, the teacher explains how to prepare three ledger accounts. The task involves calculating the loading on cost, valuation of stock, abnormal loss, and consignee's expenses, and settling one of the account throughs a bank...
The Business Professor
Chapter 9 - Accounting for Warranties Example
Professor AJ Kooti provides an example of how to Account for Warranties in his financial accounting course.
The Business Professor
Pro Forma Financial Statements
Pro Forma Financial Statements or Pro Forma are used to project the peformance of a business or project. This video explains how to create pro forma financial statements - namely the balance sheet, income statement, and cash flow statement.
Seven Dimensions
Improving Profitability
In this video, the speaker discusses the importance of regularly reviewing financial statements and market trends to improve business profitability. They emphasize the need for transparency and tough decision-making during difficult...
The Business Professor
Introduction to Adjustments in Accounting
In this video, the teacher explains the concept of adjustments in accounting. The teacher also introduces the four different types of adjusting entries: deferred expenses, deferred revenues, accrued expenses, and accrued revenue.
The Business Professor
Contribution Format Income Statement
This video what is the Contribution Format Income Statement in managerial accounting. It also discusses how managers use the contribution format income statement in comparison to a traditional income statement required under GAAP.
Let's Tute
Posting and Analyzing Financial Statements: Completing the Accounting Cycle
This video is a tutorial for accounting students on how to prepare an income statement and balance sheet by posting all the items from the final adjusted trial balance and checking each account in the ledger to ensure accuracy. The video...
Let's Tute
Introduction to Consignment Accounting: Consignment vs Sales
Introduction to Consignment Accounting part 4/10: The video explains the difference between consignment and sale, highlighting the key points such as ownership, expenses, returning of unsold goods, and profit or loss. It also discusses...
The Business Professor
Ch3. Video 9 - Completing the Accoutning Cycle (Financial Statements) Example
Ch3. Video 9 - Completing the Accoutning Cycle (Financial Statements) Example
The Business Professor
Cost Classification - Absorption and Variable Costing
Cost classification is a major component of absorption and variable costing. Absorption costing allocates fixed overhead to Cost of Goods Sold while Variable costing allocates fixed overhead to whisl Selling General and Administrative...
The Business Professor
Cost-Volume-Profit Analysis - Operating Income
The Cost Volume Profit Analysis yields the number of units needed for an operation to break even. At break even, the operating income is zero.
Let's Tute
Basic Accounting Terminology
In this video, we discuss various accounting terminologies such as books of accounts, purchases and sales returns, profits, gains, and losses. We also cover terms like discounts, receipts, assets, liabilities, and stock/inventory.
The Business Professor
Complete Accounting Cycle - Financial Accounting - Part 3 of 3
Prof. AJ Kooti explains the accounting cycle. This video is part 3 of a 3 part series.
The Business Professor
Completing the Accounting Cycle - Financial Statements Example
Professor AJ Kooti provides a detailed examples of how to complete the accounting cycle all the way through entering the information onto the Financial Statements. This video is part 1 of 2.
Let's Tute
Introduction to Consignment Accounting: Valuation of Stock on Consignment
Introduction to Consignment Accounting part 9/10: This video teaches how to value consigned stock in a consignment business using an example of oil barrels. It covers the calculation of cost, deduction of abnormal losses, adjustment of...
Let's Tute
Consignment Accounting - Introduction
In this video, we will teach the concepts of consignment like its basics and procedure
The Business Professor
Fixed Overhead Analysis
Overhead is a major component of any budget. Overhead may be fixed or variable. A fixed overhead analysis seeks to identify what portions of the overhead is affected by operations.
Economics Explained
An Honest Discussion About A Universal Basic Income: What is UBI and what are its costs?
In this video we go over the pros and cons of a universal basic income. The US government spent over $5 trillion of economic stimulus and relief payments during the pandemic of 2020 and 2021. This is enough money to give every adult in...
Let's Tute
Accounting for Peculiar Items in Nonprofit Organizations
In this video, the teacher explains the meaning and accounting treatment of peculiar items in nonprofit organizations. They cover topics such as payment of honorarium, endowment funds, government grants, special funds, and stationary...