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Noncurrent Assets in Financial Accounting
 
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This video explains what noncurrent assets are and highlights the most common types, including: long-term investments, PP&E, intangible assets, and other assets. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira 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 Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 14538 Edspira
Fixed Assets and Current Assets - Explained in Hindi
 
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What are fixed assets and current assets? Explained in Hindi with examples. Types of current assets and fixed assets and how they are financed. Fixed assets are generally financed with long-term funds - equity and debt. Working Capital i.e. current assets minus current liabilities, is financed with short-term financing options. Related Videos: Fixed Charge vs Floating Charge: https://youtu.be/QE10ZZK_aJE Tangible Assets & Intangible Assets: https://youtu.be/vnCbdUKeALk Current Assets & Current Liabilities: https://youtu.be/6_ZPGktZIts Business Loans: https://youtu.be/_LBaXZz80Uw Working Capital: https://youtu.be/eIuVfYSiVR8 Bank Guarantee: https://youtu.be/GWtBvqYYXbI Letter of Credit: https://youtu.be/0UiLLhNhBiI Cash Credit Loan Account vs Bank Overdraft Facility: https://youtu.be/0Qo2nqNVsCs Bill Discounting: https://youtu.be/PXzGqEL1RfQ Book Value, Market Value, Face Value of Share: https://youtu.be/bQEjzWssWOg फिक्स्ड एसेट्स और करंट एसेट्स क्या हैं? इस वीडियो में फिक्स्ड एसेट्स और करंट एसेट्स के प्रकारों को और इन्हे कैसे फाइनेंस किया जाता है, समझाया गया है। फिक्स्ड एसेट्स को साधारणतः लॉन्ग-टर्म फाइनेंस के द्वारा फाइनेंस किया जाता है - इक्विटी और डेब्ट। वर्किंग कैपिटल यानि की करंट एसेट्स माइनस करंट लिएबिलिटीज़ को शार्ट-टर्म फाइनेंस विकल्पों के द्वारा फाइनेंस किया जाता है। Share this Video: https://youtu.be/sPrNuHduHog Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What is fixed asset? What is the meaning of current assets? How to do the financial analysis of a company or business? How to evaluate a company's financial strength before investing in shares? What are the finance methods for fixed assets and current assets? What is long-term assets or capital assets? What is the difference between fixed assets and current assets? What are the technical differences between fixed assets and current assets? What are the examples of fixed assets and current assets? What does cash equivalents mean in current assets? How to evaluate the fixed assets? What is depreciation factor in fixed assets? How to evaluate the current assets of a company or business? what long-term finance options are available for fixed asset financing? What working capital or current asset finance options are there? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Google Plus – https://plus.google.com/+assetyogi-ay Linkedin - http://www.linkedin.com/company/asset-yogi Pinterest - http://pinterest.com/assetyogi/ Facebook – https://www.facebook.com/assetyogi Instagram - http://instagram.com/assetyogi Twitter - http://twitter.com/assetyogi Hope you liked this video in Hindi on “Fixed Assets and Current Assets”.
Views: 17888 Asset Yogi
Asset & Types of Assets - Explained in Hindi
 
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What is an Asset? What are different types of Assets? Explained in Hindi. Assets include current assets, non-current assets, fixed assets, tangible assets, intangible assets, operating assets and non-operating assets. Other than fixed assets like land, building and machinery, Patent, Trademark, Copyright and Brand are also assets which are intangible assets. We will discuss all such assets in this video. Related Videos: Fixed Assets and Current Assets: https://youtu.be/sPrNuHduHog Fixed Charge vs Floating Charge: https://youtu.be/QE10ZZK_aJE Tangible Assets & Intangible Assets: https://youtu.be/vnCbdUKeALk Fictitious Assets: https://youtu.be/dJ1SjiwgLMM एसेट क्या है? एसेट कितने प्रकार के होते हैं? एसेट में करंट एसेट्स, नॉन करंट एसेट्स, फिक्स्ड एसेट्स, टैंजिबल एसेट्स, इंटैन्जिबल एसेट्स, ऑपरेटिंग एसेट्स और नॉन-ऑपरेटिंग एसेट्स शामिल होते हैं। लैंड, बिल्डिंग और मशीनरी, जैसे फिक्स्ड एसेट्स के अलावा पेटेंट, ट्रेडमार्क, कॉपीराइट और ब्रांड भी इंटैन्जिबल एसेट होते हैं। हम इस वीडियो में ऐसी सभी संपत्तियों पर चर्चा करेंगे। Share this Video: https://youtu.be/P82pyHmX_BA Subscribe To Our Channel and Get More Property, Real Estate and Finance Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What is the technical definition of assets? How many types of assets are there? What are the current and non-current assets? What is the meaning of tangible and intangible assets? What are the characteristics of operating and non-operating assets? How to classify different types of assets? In the video, you will get to know the detailed explanation of each type of assets with examples. This will clear all the confusion regarding which type of asset belongs to which category. It also very important to understand the assets in order to completely utilize them. Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Linkedin - http://www.linkedin.com/company/asset-yogi Pinterest - http://pinterest.com/assetyogi/ Instagram - http://instagram.com/assetyogi Facebook – https://www.facebook.com/assetyogi Twitter - http://twitter.com/assetyogi Google Plus – https://plus.google.com/+assetyogi-ay Hope you liked this video in Hindi on “Asset & Types of Assets”.
Views: 20724 Asset Yogi
Disposal of non current assets
 
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The principles of disposing of non current assets, loss on disposal and gain on disposal at TCE Accounting level (Grade 12 Tasmania) More videos, tasks, quizzes, handouts and other resources can be found at https://meyerflippedlearning.com/#!/home
Views: 13227 Bernd Meyer
Current Assets in Financial Accounting
 
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This video explains what current assets are and provide an overview of the common types of current assets, including: cash and cash equivalents, short-term investments, receivables, inventory, and prepaid assets. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira 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 Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 21432 Edspira
Depreciation and Disposal of Fixed Assets
 
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Accounting for Depreciation and Disposal of Fixed Assets
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
 
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http://www.ifrsbox.com The short summary of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. For more videos, articles, files and IFRS news please check http://ifrsbox.com :)
Views: 39900 Silvia M. (of IFRSbox)
Accounting for Revaluations of PPE
 
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This video outlines how to account for PPE revaluations pursuant to AASB 116 Property, Plant and Equipment (please note that AASB 116 is equivalent to IAS 16 Property, Plant and Equipment). Published on 6/4/2014
Views: 84514 drdavebond
Understanding IGCSE Non Current Assets in a Vertical Balance Sheet
 
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This tutorial will teach you how to layout the Non-Current or Fixed Assets in a Vertical Balance Sheet. You will learn in which order the business' Machinery, FIxtures, Fittings, Land, Premises and Motor Vehicles are entered into the Non-Current Assets section. To download the handout please visit our website at http://www.igcseaccounts.com/.
Views: 1419 Dean Hoss
Auditing Property, Plants and Equipment | Auditing and Attestation | CPA Exam
 
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Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ The primary accounting record for equipment and other property, plant, and equipment accounts is generally a fixed asset master file. The master file includes a detailed record for each piece of equipment and other types of property owned. Each record in the file includes a description of the asset, date of acquisition, original cost, current year depreciation, and accumulated depreciation for the property. Auditors verify equipment differently from current asset accounts for three reasons: 1. There are usually fewer current period acquisitions of equipment, especially large equipment used in manufacturing. 2. The amount of any given acquisition is often material. 3. The equipment is likely to be kept and maintained in the accounting records for several years. Because of these differences, the auditing of equipment emphasizes the verification of current period acquisitions rather than the balance in the account carried forward from the preceding year. In addition, the expected life of assets over one year requires depreciation expense and accumulated depreciation accounts, as shown in Figure 19-1, which are verified as part of the audit of the assets. Finally, equipment may be sold or disposed of, triggering a gain or loss entry that the auditor may need to verify. Although the approach to verifying equipment differs from that used for current assets, several other asset accounts are verified in much the same manner. These include patents, copyrights, catalog costs, and all property, plant, and equipment accounts. In the audit of equipment and related accounts, it is helpful to separate the tests into the following categories: • Perform substantive analytical procedures • Verify current year acquisitions • Verify current year disposals • Verify the ending balance in the asset account • Verify depreciation expense • Verify the ending balance in accumulated depreciation Next, let’s examine the use of these categories of tests in the audit of equipment, depreciation expense, accumulated depreciation, and gain or loss on disposal accounts. The failure to capitalize a fixed asset, or the recording of an acquisition at the incorrect amount, affects the balance sheet until the company disposes of the asset. The income statement is affected until the asset is fully depreciated. In testing acquisitions, the auditor must understand accounting standards to make certain the client follows the related requirements. For example, the auditor needs to be alert for the possibility of the client’s failure to include material transportation and installation costs as part of the asset’s acquisition cost and the failure to properly record the trade-in of existing equipment. Auditors should also verify recorded transactions for correct classification among various equipment accounts. In some cases, amounts recorded as manufacturing equipment should be classified as office equipment or as a part of the building. Transactions involving the disposal of equipment are often misstated when company internal controls lack a formal method to inform management of the sale, trade-in, abandonment, or theft of recorded machinery and equipment. If the client fails to record disposals, the original cost of the equipment account will be overstated indefinitely, and net book value will be overstated until the asset is fully depreciated. Detail tie-in tests of the recorded disposals schedule are necessary, including footing the schedule, tracing the totals on the schedule to the recorded disposals in the general ledger, and tracing the cost and accumulated depreciation of the disposals to the property master file. he following procedures are often used for verifying disposals: • Review whether newly acquired assets replace existing assets • Analyze gains and losses on the disposal of assets and miscellaneous income for receipts from the disposal of assets • Review plant modifications and changes in product line, and changes in major, costly computer-related equipment; property taxes; or insurance coverage for indications of deletions of equipment • Make inquiries of management and production personnel about the possibility of the disposal of assets Verify Ending Balance of Asset Account Two of the auditor’s objectives when auditing the ending balance in the equipment accounts include determining that: 1. All recorded equipment physically exists on the balance sheet date (existence) 2. All equipment owned is recorded (completeness)
Disposing of Depreciated Assets (part 1 of 2)
 
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Part 1 of 2 To view part 2 visit https://brainmass.com/videos/Disposing_of_Assets Academic Expert Carol Sargent explains what the process is to follow when disposing of an asset; how to calculate if you end up with a loss or profit; and finally what the journal entries look like when trying to coordinate your balance sheet.
Views: 37062 BrainMass
ACCA F3 Intangible Assets: Goodwill, Research and Development
 
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ACCA F3 Intangible Assets: Goodwill, Research and Development Free lectures for the ACCA F3 Financial Accounting / FIA FFA Exam To fully benefit from this video, download free ACCA F3 lecture notes from http://opentuition.com/acca/ *** The complete list of free ACCA lectures is available on http://opentuition.com/acca/
Views: 7594 OpenTuition
Example on recognition of non current assets (Deborah Agostino)
 
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Video related to Polimi Open Knowledge (POK) http://www.pok.polimi.it
Views: 4611 Polimi OpenKnowledge
Statement of financial position: Non-current assets & current assets
 
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A video outlining non current assets (A.K.A Fixed assets) and current assets that a business may have on their statement of financial information or balance sheet. This video is for students studying BTEC Finance Unit 3 at Level 3.
Views: 134 Mr Miles Harris
Are Vehicles Non Current Assets
 
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Are vehicles Non current assets KNOW MORE ABOUT Are vehicles Non current assets Asp "imx0m" url? Q webcache. Non current assets property, plant & equipment non tangible assetsclassifications disposal of first intuition. Noncurrent assets investopediawhat are common examples of noncurrent assets? The difference between fixed and current what is a asset? Definition on the balance sheet dummies. Main types of assets include non current such as buildings, plant and machinery, vehicles 22 feb 2017 acquisition a asset. Balance sheet accounts current assets, long term assets noncurrent asset accountingtoolsnon what's the difference and why is it list of classification on balance. Property, plant, and equipment may also be called fixed assets 29 2018 examples of noncurrent. Googleusercontent search. Investments are classified as noncurrent only if they expected to not turn into unrestricted cash within the next 12 months of balance sheet date. Assets and depreciation community doornoncurrent assets accounting questions answers. Assets balance sheet definition free management ebooks. Property, plant, and equipment encompass land, buildings, machinery including vehicles. Noncurrent assets investopedia noncurrent investopedia terms n. Recording non current tangible assets, except for investment property, in accounting, calculating their carrying amount of a asset is equal to its book valuevehicles;49 assets may be classified into and. If a company has high proportion of noncurrent to current 3 jul 2010 according accounting principles followed worldwide, non assets generally include land, buildings, motor vehicles, furniture and office common types current, physical, intangible, ppe (property, plant, equipment)buildingsfurniture; Patents fixed or are that will be kept, used up over 12 months. Assets definition fixed, current, tangible, intangible. When we buy an asset that is going to be kept for several years, such as a motor vehicle or machine the. Accumulated depreciation vehicles this account tracks the of all 12 may 2017 a noncurrent asset is an that not expected to be consumed within one year. Examples include long term investments, buildings, motor vehicles, and fixed assets, also known as tangible assets or property, plant equipment (pp&e), is a used in accounting for property that cannot easily be converted into cash. This can be compared with current assets such as cash or bank accounts, its non would the oven used to bake bread, motor vehicles 27 dec 2015 noncurrent are that expected converted into plant and equipment include land, buildings, equipment, vehicles, 19 jul 2018 a definition of assets, examples capital, fixed, current, tangible money, investments, inventory, cars, first three headings comprise fred's total these also known fixed property, plant, items manufacturing office most important component is 'property, & equipment' which refers business' 2. For example, a car manufacturer would list its manufacturing plant and machinery wi
Views: 1 ASK bulbul
What Is a Balance Sheet? Balance Sheet Definition And Examples
 
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The Balance Sheet helps us to assess the risk of the business. By looking at it you will be able to answer to questions, such as: What is the leverage? Is the company liquid enough? Remember, leverage means the proportion between equity and debt, while liquidity is the capacity of the business to repay for its short-term obligations, to run the operations. Do you want to learn more? Join our course at this link https://www.udemy.com/become-a-financial-analyst-from-scratch-n1/?couponCode=websitecoupon The Balance Sheet is comprised of two main sections: - Assets - Liability and Equity The Assets sections i comprised of: CURRENT ASSETS: -Cash -Petty Cash -Temporary Investments -Accounts Receivable -Inventory GET THE BOOK HERE: https://gum.co/rsooN NON - CURRENT ASSETS - Plant, Furniture, Equipment… and so on. Liabilities are comprised of: CURRENT LIABILITIES - Accounts Payable - Accrued Expenses - Short-term loans NON CURRENT LIABILITIES - Long-term loan Equity is comprised of: - Owner's Equity - Retained Earnings Video transcript: Hi my name is Grandpa John, I will guide you through the accounting section of the MBA in pills offered by the four week MBA. for more business educational videos. check out this link. we saw in the accounting equation video, that the balance sheet, is divided in two main sections. the asset section, and the liability and equity section. more in detail. the asset section is comprised of current assets, and non current assets. main current assets are. cash, accounts receivable, inventories. prepaid expenses. the current assets, are called such, because they are usually on the balance sheet for one year, or less. the current assets are usually listed, on the balance sheet, according to their degree of liquidity. therefore, cash is the most liquid, while prepaid expenses, the least liquid.cash, is available at any time. accounts receivable, sum of money to be received from customers. inventory, a list of goods to be sold. prepaid expenses, sum paid in advance. the non-current assets are also called, long term assets. indeed, those are assets that will stay on the balance sheet for years. such as plants, equipment, furniture, and so on. on the other side of the balance sheet, we have, the liabilities and equity. liabilities, are comprised of current liability and non current liability. current liabiltiies, stay on the balance sheet, for less than a year. non current, for more than a year. Let's see the main current liabilities. accounts payable, sum of money not yet paid to suppliers, that will be washed away, once paid. accrued expenses, sum of money to be paid in the future, such as, payrolls, or tax the main non current liability is, long term debt. such as loans contracted with the bank. then, the equity. in this sub section are reported items, such as, owner's equity, retained profits and other kind of stocks, issued by the organization. lets see now few examples. jim sold $100 worth of clothes. his customer, Janet, paid with credit card. therefore, this will generate an account receivable, for $100, on Jim's balance sheet. jim, has to pay for utilities. since it is the first time he set up the account. he has to pay for $1,000 in advance. this advanced payment, will be shown as, prepaid expense. jim, this month, did not sell part of the clothes he bought in the previous month. the unsold clothes, will become part of his inventories. then, Jim had to pay $50,000 cash, to renovate the store. this $50,000 will show on his balance sheet, as building improvement, therefore, a long term fixed asset. jim, buys clothes for $1,000, with credit card. the payment will be processed in 30 days. this transaction, will generate an account payable, on jim's balance sheet. Jim, goes to the bank, to ask for a long term loan. the bank gives Jim, $50,000. this will generate a bank loan. showed under long term liability, on Jim's balance sheet. after a while. Jim accepts a new partner, Jasmine. Jasmine puts $50,000 and becomes equity partner. this transaction, will show on the balance sheet, as owner's equity. in conclusion, the balance sheet, is one of the main financial statements. it is like an instant picture. and it helps us to assess how risky a business is. in fact, when a company is too indebted. you can see it from the balance sheet. if liabilities are too much in comparison to equity, this can be very dangerous for the business.to summarize. the balance sheet is comprised of two main sections. it is an instant of the business. and, allows us to see how risky a business is. if you liked this video, and you found the topic interesting please live a comment at these links. if you would like to learn more, about other topics, contact us. Grandpa John here. You just enjoyed the accounting section of the MBA in pills offered by the four week MBA.
Views: 271909 The Four-Week MBA
2015- CFA Level 1- FRA- Non Current Liabilities- Part I (of 6)
 
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FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level I Classes in Pune (India).
Views: 5831 FinTree
Accounting - Fixed Assets and Depreciation - Part 1 of 2 - Severson
 
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See the below link for more resources, including as a list of all of my videos, practice exercises, Excel templates, and study notes. https://www.dropbox.com/s/09hdhag3zieyt08/Severson%20YouTube%20Videos.xlsx?dl=0 This is part 1 of an accounting tutorial on Fixed Assets and Depreciation. This lecture covers topics such as how to record the initial purchases of assets, what constitutes a fixed asset, how to record depreciation, and how to record the disposal of an asset. It also covers the depreciation methods of straight line, units of production, double declining balance, and a little bit about tax depreciation under the Modified Accelerated Cost Recovery System (MACRS.) It also covers depletion of natural resources and amortization of intangibles such as patents, trademarks, copyrights and goodwill.
Views: 54304 Christopher Severson
Current ratio explained
 
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How to calculate the current ratio? And more importantly, once you have calculated the current ratio, how to interpret the current ratio? What does a current ratio of 0.5, 1 or 2 mean? What is the story behind the numbers? How are some of the largest companies in the world performing on their current ratio? Find out all you need to know about the current ratio in this video. The current ratio is a key metric in #financialratioanalysis To calculate and interpret the current ratio, we first need to understand its components: current assets and current liabilities. Current assets and current liabilities are both groups of accounts on the balance sheet. A balance sheet is a picture at a point in time (usually the end of the year, or the end of the quarter) of what a company owns (on the left) and what a company owes (on the right). Asset accounts are grouped in either current assets or non-current assets, and liabilities accounts into current liabilities or non-current liabilities. Current assets are cash and other assets that are expected to be converted to cash within a year. Some examples of accounts in the Current Assets category: Cash, Accounts Receivable, Inventory, Prepaid Expenses. Current Liabilities are amounts due to be paid to creditors within twelve months. Some examples of accounts in the Current Liabilities category: Accounts Payable, Accrued Liabilities, Short Term Debt. So the difference between current and non-current assets is whether this asset will be converted to cash within one year. The difference between current and non-current liabilities is whether the amounts are due within one year, or further out. Once we have found the Current Assets and Current Liabilities numbers on the balance sheet, we can calculate and then interpret the Current Ratio. The Current Ratio is simply the amount of Current Assets divided by the amount of Current Liabilities. If a company has a Current Ratio of 1, it means that every $ of Current Liabilities is covered by a $ of Current Assets on the date of the balance sheet. Remember that the balance sheet is a picture at a point in time. Based on the transactions and journal entries that happen between this balance sheet and the next balance sheet, the Current Ratio could move up or down significantly! Let’s say that on the next balance sheet, that is made one quarter later, the Current Ratio is 2. This means that every $ of Current Liabilities is covered by $2 of Current Assets on the date of the balance sheet. The opposite could also occur. Let’s assume the Current Ratio drops to 0.5. This means that every $ of Current Liabilities is covered by only $0.50 of Current Assets on the date of the balance sheet. The Current Ratio is a measure of short term liquidity. Can the company pays its bills? Most people (including suppliers and shareholders) would say that a Current Ratio of 1 or higher is good. However, is a Current Ratio of 2, 3 or 4 necessarily a good thing? The ability of a company to pay its bills would be very high, but a very high Current Ratio could also be a sign that a company is not putting its cash to much productive use. Maybe they should invest it in the business (new equipment, or more R&D spending), do an acquisition, or pay a dividend to its shareholders. Is a Current Ratio lower than 1 necessarily a bad thing? The ability of a company to pay its bills might be lower, but a Current Ratio below 1 could also be a sign that a company is very good at managing its working capital: keeping its receivables and inventory low, and its payables high. It’s the story behind the ratio and the numbers that is important. Philip de Vroe (The Finance Storyteller) aims to make strategy, finance and leadership enjoyable and easier to understand. Learn the business and accounting vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better stock market investing decisions. Philip delivers #financetraining in various formats: YouTube videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!
IAS 36 Impairment of Assets
 
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http://www.ifrsbox.com Get "Top 7 IFRS Mistakes" and e-mail updates at http://www.ifrsbox.com The objective of IAS 36 Impairment of assets is to ensure that assets are carried at no more than their recoverable amount and to define how recoverable amount is determined. This summary explains that an asset is impaired when its carrying amount exceeds its recoverable amount. Impairment loss is a difference between asset's recoverable and carrying amount. Then, an entity needs to assess the indicators of impairment at least annually, both from external and internal sources. If there is an indication of impairment, an entity must perform impairment testing and determine asset's recoverable amount. Recoverable amount represents a higher of asset's fair value less cost to sell and value in use. Fair value of an asset is determined in line with the standard IFRS 13 Fair value measurement. Value in use is the present value of the future cash flows expected to be derived from an asset or cash generating unit. This video explains how to estimate future cash flows expected from the asset and how to determine the appropriate discount rate for setting the present value. Once you have calculated the amount of your impairment loss as a difference between asset's carrying amount and it's recoverable amount, you need to recognize this impairment loss in the financial statements based on the model applied. When an entity applies cost model for the asset under review, then the impairment loss is recognized immediately in profit or loss. When an entity carries its assets under review at revalued amount (for example, in accordance with revaluation model in IAS 16), then any impairment loss shall be treated as a revaluation decrease in accordance with that standard. After the recognition of an impairment loss, it is also necessary to adjust depreciation for future periods. Sometimes it's not possible to determine recoverable amount for individual asset and therefore, you need to determine your cash generating unit that is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. This summary also deals with the following situations: - Impairment loss of cash generating units - Impairment loss in business combinations with goodwill - Corporate assets You will also learn about reversals of impairment loss: when and how to do it. Visit my web and enjoy IFRS learning at http://www.ifrsbox.com!
Views: 208607 Silvia M. (of IFRSbox)
ACCA P2 IFRS 5 Non-current assets held for sale
 
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ACCA P2 IFRS 5 Non-current assets held for sale Free lectures for the ACCA P2 Corporate Reporting Exams
Views: 24554 OpenTuition
ACCA P2 S08 Non Current Assets www.copilarie.eu
 
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. private me if need this 26 videos..
Views: 402 Walter Millington
Assets, Liabilities & Equity - Explained in Hindi (2018)
 
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Assets, Liabilities and Equity explained in Hindi. What are Assets? What are Liabilities? What is Equity? How are they connected? Assets comprise of current assets and non current assets like fixed assets or tangible assets and intangible assets. Similarly, liabilities include current liabilities and non current liabilities. Equity is comprised of common equity and preferred equity. Related Videos: Equit vs Debt: https://youtu.be/5CWrpR6mcFw Asset & Types of Assets: https://youtu.be/P82pyHmX_BA Current Assets & Current Liabilities: https://youtu.be/6_ZPGktZIts Earnings Per Share (EPS): https://youtu.be/SDXp64flfJI एसेट्स, लाईबिलिटीज़ और इक्विटी को इस वीडियो में हिंदी में समझाया गया है। एसेट्स क्या होते हैं? लाईबिलिटीज़ क्या होती हैं? इक्विटी क्या होती है और ये तीनो एक-दूसरे से किस तरह कनेक्टेड हैं। Share this Video: https://youtu.be/4BhpDCAL62M Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What are the assets, liabilities, and equity? How to read a balance sheet of a company? How assets, liabilities, equity are related to each other? Are equity and net worth and net assets same? What is the meaning of retained earnings? What all information we get from a balance sheet of a company? How to analyze the balance sheet of any company? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Instagram - http://instagram.com/assetyogi Pinterest - http://pinterest.com/assetyogi/ Twitter - http://twitter.com/assetyogi Facebook – https://www.facebook.com/assetyogi Linkedin - http://www.linkedin.com/company/asset-yogi Google Plus – https://plus.google.com/+assetyogi-ay Hope you liked this video in Hindi on “Assets, Liabilities & Equity”
Views: 24352 Asset Yogi
What is asset and liability?
 
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hello frnds, is video me assets or liabilities ke bare me bataya gaya hai....assets or liabilities ke types, current and fixed (non current ) liabilities and assets kya hai . in sabhi ke bare me detail me bataya gaya hai. jo new commerce students hai ye unke liye bahut important k.. See you in next video, have a nice day. LIKE | COMMENT | SHARE | SUBSCRIBE ----------------------------------------------------------------------------------
Views: 88200 Don't Stop Learning
IAS 38 Intangible Assets (summary)
 
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http://www.ifrsbox.com This is the short summary of IAS 38 Intangible Assets. For more practical explanations, examples and illustration, please visit http://www.ifrsbox.com. I have also launched weekly podcast in which I respond to one of your questions each week!
Views: 17160 Silvia M. (of IFRSbox)
Accounting for Fixed Assets
 
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Fixed assets are assets that are purchased by an organization for long-term use that help generate income. Examples of fixed assets are land purchased for investment or use, buildings, factories, machinery and equipment. Fixed Assets are also referred to as Non-Current Assets, as these assets will not (or should not) be converted into cash within the next 12 months. Fixed assets appear in the financial records at their net book value, which is its original cost, minus accumulated depreciation. Because of ongoing depreciation, the net book value of an asset is always declining. These fixed assets are shown in the financial statements in two ways: 1 – Historical Cost – once a fixed asset is purchased, it has to be recorded in our financial records. The purchase price paid (to the supplier) has to be added to any import duties, other taxes paid, as well as any expenses/costs paid to bringing the asset to the working condition of its intended use, such as set up and consultancy fees. 2 – Revalued Price – as fixed assets are utilized, the value of these assets decrease. This is what leads to the Depreciation principle. Depending on the class of asset, a specific depreciation rule will be applied. Depreciation is the allocation of the cost of a fixed asset over its useful life to match a cost against revenues that this asset helped to generate. There are three main depreciation methods used: Straight Line method – this method allocates the value of the asset over the estimated life of that asset. For example, computers & laptops have a 3-year life with no residual value at the end. Therefore the cost of these assets would be depreciated equally over three years. Diminishing Value - allows companies to write off their assets faster in earlier years than the straight-line depreciation method and to write off a smaller amount in the later years, as the asset would be working harder / used more in the earlier years of its life. Units of Use – This method allocates depreciation expense according to a fixed rate per unit of production. Under this method, one must first determine the cost per one production unit and then multiply that cost per unit with the total number of units the company produces within an accounting period to determine its depreciation expense. Once the depreciation expense has been calculated, you would need to Debit the depreciation expense and Credit the Accumulated Depreciation account. The expense account would be closed off at the end of the accounting period, and the Accumulated Depreciation account would be shown as a negative Current Asset in the Balance Sheet, being deducted from the specific class of asset that is being depreciated. Accounting Standards have been drawn up for companies to follow, so that everyone is treating their asset class in the same way, and that there is no way of manipulation with their Financial Results. Empower Yourself with more Practical Business Education to Reach your Potential by visiting our site: https://www.potential.com/ Follow us on our social media channels: Facebook: https://www.facebook.com/PotentialCom LinkedIn: https://www.linkedin.com/company/potential Twitter: https://twitter.com/potentialcom Goolge+: https://plus.google.com/+PotentialCom/posts
Views: 99 Potential
Cash Flow From Investing Activities (Formula & Example)
 
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In this video we are going to discuss Cash Flow from Investing Activities in detail. Including (Formula & Top Examples) 𝐂𝐚𝐬𝐡 𝐅𝐥𝐨𝐰 𝐟𝐫𝐨𝐦 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬 ----------------------------------------------------------- Information of cash inflow and outflow related to purchases and sales of assets (Property, plant & Equipment etc) The suppliers made to received loans ones from the customer and any payments related to merger & acquisitions 𝐂𝐚𝐬𝐡 𝐟𝐥𝐨𝐰 𝐟𝐫𝐨𝐦 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 𝐟𝐨𝐫𝐦𝐮𝐥𝐚 ------------------------------------------------------------ Cash inflow from Sale of Land + Cash outflow from PPE 𝐈𝐭𝐞𝐦𝐬 𝐟𝐨𝐮𝐧𝐝 𝐢𝐧 𝐂𝐚𝐬𝐡 𝐅𝐥𝐨𝐰 𝐟𝐫𝐨𝐦 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬 ----------------------------------------------------------------------------------- 1. Proceeds from sales of assets (cash inflow) 2.Payments for business acquired (cash outflow) 3.Investments in marketable securities (cash outflow) 4.Sales of property, plant, and equipment (cash inflow) 5.Investing in affiliates and joint ventures(cash outflow) 6. Buying plant, property, and equipment (cash outflow) 𝐇𝐨𝐰 𝐭𝐨 𝐜𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐞 𝐂𝐚𝐬𝐡 𝐅𝐥𝐨𝐰 𝐟𝐫𝐨𝐦 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬? ----------------------------------------------------------------------------- Here we will take an example for better understanding of Cash Flow from Investing Activities. Here we know that cash flow from investments is similar to non current assets part of the balance sheet. Mainly there are 2 Non Current assets items, which are 1. Land and Property 2. Plant and Equipment Cash inflow from sale of Land = Decrease in Land (BS) + Gain from Sale of Land = $90,000 – $60,000 + $10,000 = $40,000 Cash outflow from purchase of property plant and equipment (PPE) = $140,000 – $190,000 = -$50,000 Now, we will find the cash flow from investments with the help of formula. Cash inflow from Sale of Land - Cash outflow from PPE Cash inflow from Sale of Land =$40000 Cash outflow from PPE = -$50,000 = $10000 To know more about 𝐂𝐚𝐬𝐡 𝐅𝐥𝐨𝐰 𝐟𝐫𝐨𝐦 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬, you can go to this 𝐥𝐢𝐧𝐤 𝐡𝐞𝐫𝐞:-https://www.wallstreetmojo.com/cash-flow-from-investing-activities/
Views: 123 WallStreetMojo
IAS 16 - IFRS Property, Plant & Equipment (Fixed Assets) 1 of 2
 
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An overview of the requirements of IAS16 (including reference to Ind AS) on Property Plant and Equipment. Part 1 of 2 Courtesy: The Institute of Computer Accountants (www.icajobguarantee.com)
Views: 106608 Vikash Goel
Current Assets on the Balance Sheet
 
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A video tutorial by PerfectStockAlert.com designed to teach investors everything they need to know about Current Assets on the Balance Sheet. Visit our free website at http://www.PerfectStockAlert.com
Views: 17834 Perfect Stock Alert
Consolidations - Eliminate sale of Non-Current Asset
 
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How to eliminate intercompany transactions.
Views: 7173 Paula de Lange
Non Current Assets Held For Sale - The Underlying Concept
 
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The session discusses the relevance of Intentions while deciding about the accounting under IFRS for non current assets held for sale
What Is A Non Fixed Asset?
 
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On line department guide to fixed assets montana state university definitions fixed, current, tangible, intangible the balance. Intangible assets and property, plant equipment are collectively called fixed 14 jul 2015 the accounting industry is centered on a basic equation liabilities owner's equity. They may also be referred to as property, plant and equipment. Html url? Q webcache. They are assets intended to this is a summary of the non current and any new bought, sold depreciation attached disposal 23 jul 2013 in accounting, fixed asset long term tangible. May 2015 university's investment in fixed assets (property, plant and equipment) non capital asset a with unit cost below the 7 nov 2016 learn about different types of (capital or assets, current, intensive businesses create wealth ways that do not. Fixed assets and noncurrent what are non fixed assets? Definition meaning asset definition ventureline. Definition of non fixed assets tangible items that are not physically attached to the building, like a shed on rental property asset is normally equipment and furnishings with an original purchase value less than some pre determined (e. What is non fixed assets? Black's law dictionarywhat the difference between assets and noncurrent asset wikipedia. Googleusercontent search. Fixed assets and noncurrent. A fixed 20 jun 2017 this topic provides information about assets depreciation for legal amounts to be posted the account non cost are jan 2015 a asset register far current is an accounting method used major resources of business or it can defined as 3 2013. Fixed assets definition the strategic cfofixed depreciation for poland finance and operations what are standard contents of a non current asset register youtube. What are the first category is called fixed assets equipment which usually attached and integral to building's function, although it might have a shorter life than that of building also known as non current long term. To fully non current liabilities on a balance sheet definition & examples. For example, a non attached garage or shed on property noncurrent assets are company long term investments where the full value will not be realized within accounting year. As an example, a baking fixed assets refers to the long term and tangible property that business owns in addition foregoing, non current or asset may also be are called assets, lived etc. Fixed assets are also called non current assets, long term or property, plant 10 may 2017 a fixed asset is an item with useful life greater than one reporting period, and which exceeds entity's minimum capitalization limit. Prepare schedules of non current (fixed) assets business studies. Examples of noncurrent assets include investments in other companies, intangible such as goodwill, brand recognition and intellectual property, plant equipment fixed are usually reported on the balance sheet. The difference between fixed and variable assets expert non current definition & examples video les
Views: 24 Tell sparky
Level I CFA: FRA Noncurrent Liabilities-Lecture 1
 
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2018 Reading 31 2019 Reading 30 This CFA exam prep video lecture covers: Bonds payable For the COMPLETE SET of 2018 Level I Videos sign up for the IFT Level I FREE VIDEOS Package: https://ift.world/free Sign-up to get all 2018 Detailed Level I Videos here: http://ift.world/free Subscribe now: http://www.youtube.com/user/arifirfanullah?sub_confirmation=1 For more videos, notes, practice questions, mock exams and more visit: https://www.ift.world/ Visit us on Facebook: https://www.facebook.com/Pass.with.IFT/
Views: 11411 IFT
CIMA F1 IFRS 5 Non-current assets held for sale and discontinued operations
 
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CIMA F1 IFRS 5 Non-current assets held for sale and discontinued operations Free lectures for the CIMA F1 Financial Reporting and Taxation Exams CIMA Operational Level
Views: 5598 OpenTuition
Calculating Non-Current Assets to Net Worth  in Excel
 
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Download 33 Financial Ratios Template: http://www.officetodo.com/public/product/33-financial-ratios/ Non-current assets to net worth ratio shows the extent of company's investments into non-current assets. To calculate non-current assets to net worth ratio open your balance sheet and divide non-current assets with the total equity
Views: 976 OfficeToDo
Balance Sheet:  Assets, Liabilities, and Equity - CPA FAR Review
 
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What do current assets include? Cash, cash equivalents, short-term investments, accounts receivable, other receivables, inventories, prepaids What do non-current assets include? Long-term investments, property, plant and equipment, intangibles, other long-term prepaids What do current liabilities include? accounts payable, accrued liabilities, unearned revenue, income tax payable, notes payable, current portion of long-term debt What is the current portion of long-term debt? the portion due within one year of the balance sheet date What do non-current liabilities include? Notes payable, bonds payable, lease liabilities, pension liabilities, postretirement health care liabilities, deferred taxes What is goodwill? Market Value of the firm Minus MV of the firm’s identifiable assets GW = Firm MV – Firm’s Id Assets MV Internally generated goodwill is expensed Total Owner’s Equity is also called Net Assets Typically, publicly traded company’s OE is significantly less than the market value (stock value) of the company
Views: 3917 Faithful Runner
Current and Non Current Liabilities
 
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This video shows the explains the difference between current and non current liabilities as they appear on a Balance Sheet
Views: 11492 Steve Lobsey
assets and liabilities explained in hindi , liablity meaning and asset meaning in hindi
 
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assets and liabilities these are the two words which define your finincial sucess assets are catagorise into these types 1. fixed assets 2. current assets 3. liquid assets 4. tangible assets 5. intangible assets 6. waste assets liablities are catagorise into following types 1. fixed liablities 2. current liablities 3. contingent liablities for more details wathch the amazing video. thank you.
Views: 56408 Patshala
Balance Sheet | Intermediate Accounting | CPA Exam FAR | Chp 5 p 1
 
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balance sheet, classified balance sheet, capital structure, liquidity,equity, solvency current assets, non current asset, long term assets, goodwill, liabilities, long term liabilities, short term investment, long term investment, property plant and equipment, financial statements, cpa exam, intermediate accounting
What is CURRENT ASSET? What does CURRENT ASSET mean? CURRENT ASSET meaning & explanation
 
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What is CURRENT ASSET? What does CURRENT ASSET mean? CURRENT ASSET meaning - CURRENT ASSET definition - CURRENT ASSET explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ In accounting, a current asset is any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle (whichever period is longer). Typical current assets include cash, cash equivalents, short-term investments, accounts receivable, stock inventory and the portion of prepaid liabilities which will be paid within a year. On a balance sheet, assets will typically be classified into current assets and long-term assets. The current ratio is calculated by dividing total current assets by total current liabilities. It is frequently used as an indicator of a company's liquidity, its ability to meet short-term obligations.
Views: 3412 The Audiopedia
Consolidation Entries for Property Transactions - Advanced Accounting
 
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How to adjust for intra-company sales of depreciable property (e.g. equipment/buildings or other non-current assets). Follow my t-account approach and this topic will be much easier for you.
Views: 5208 O'Reilly Accounting
Current Liabilities and Contingencies
 
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Table of Contents: 00:00 - BUS512MIntroduction to Liabilities: Economic Consequences, Current Liabilities and Contingencies 00:20 - Reporting Liabilities on the Balance Sheet: Perspectives 02:43 - Liabilities 05:38 - Review: Definitely Determinable, Estimated, Commitment, Contingent 09:16 - 11:32 - Current Liabilities 13:14 - Current Liabilities and Long-term Liabilities P10-1 17:30 - Determinable Current Liabilities 17:47 - Determinable CL - continued 18:36 - T accounts and inferring payments-example 21:05 - E10-7 T accounts and inferring payments 21:35 - T accounts and inferring payments-example 21:41 - E10-7 T accounts and inferring payments 21:46 - T accounts and inferring payments-example 21:48 - E10-7 T accounts and inferring payments 21:56 - T accounts and inferring payments-example 22:00 - E10-7 T accounts and inferring payments 22:00 - 29:10 - E10-4 Notes Payable and Actual Interest RateOn 12.1 company borrowed $19,250 from bank signing a 90 day note with a face amount of $20,000. the stated interest rate is 15%.a. Provide journal entry by borrower on 12.1.b. Provide adjusting journal entry on 12.31 before FS are prepared. Show how the note payable would be disclosed on the BS.c. Compute the actual annual interest rate on the note.d. Why is the actual interest rate different from the stated rate? 33:59 - Liabilities and Current Ratio E10-2Company borrowed $100,000 to finance the purchase of fixed assets. The loan contract provided of a 12% interest rate and that the principal must be paid in full in ten years. The contract also states that current ratio be maintained at 1.5:1. Before the company borrowed the $100,000, the current assets and current liabilities were $130,000 and $80,000 respectively.a. Compute current ratio if invest $50,000 in fixed assets and remainder in short-term investments. To what dollar amount can current liabilities grow before company violates the debt contract?b. Compute current ratio if invest $80,000 in fixed assets and remainder in cash or short-term investments. To what dollar amount can current liabilities grow before company violates the debt contract?c. Compute current ratio if invest $100,000 in fixed assets. To what dollar amount can current liabilities grow before company violates the debt contract? 34:41 - Contingent Liabilities 34:42 - Liabilities and Current Ratio E10-2Company borrowed $100,000 to finance the purchase of fixed assets. The loan contract provided of a 12% interest rate and that the principal must be paid in full in ten years. The contract also states that current ratio be maintained at 1.5:1. Before the company borrowed the $100,000, the current assets and current liabilities were $130,000 and $80,000 respectively.a. Compute current ratio if invest $50,000 in fixed assets and remainder in short-term investments. To what dollar amount can current liabilities grow before company violates the debt contract?b. Compute current ratio if invest $80,000 in fixed assets and remainder in cash or short-term investments. To what dollar amount can current liabilities grow before company violates the debt contract?c. Compute current ratio if invest $100,000 in fixed assets. To what dollar amount can current liabilities grow before company violates the debt contract? 36:33 - Contingent Liabilities 36:34 - Figure 10-5 36:35 - Contingent Liabilities 36:37 - Liabilities and Current Ratio E10-2Company borrowed $100,000 to finance the purchase of fixed assets. The loan contract provided of a 12% interest rate and that the principal must be paid in full in ten years. The contract also states that current ratio be maintained at 1.5:1. Before the company borrowed the $100,000, the current assets and current liabilities were $130,000 and $80,000 respectively.a. Compute current ratio if invest $50,000 in fixed assets and remainder in short-term investments. To what dollar amount can current liabilities grow before company violates the debt contract?b. Compute current ratio if invest $80,000 in fixed assets and remainder in cash or short-term investments. To what dollar amount can current liabilities grow before company violates the debt contract?c. Compute current ratio if invest $100,000 in fixed assets. To what dollar amount can current liabilities grow before company violates the debt contract? 38:43 - Contingent Liabilities 41:40 - Figure 10-5 43:09 - Contingent Liabilities Disclosures 44:20 - P10-4 Contingent Liability Recognition 45:33 - Potential Lawsuit: P10-4, Parts a & b: 45:50 - Class Problem: P10-4, Part c: 47:28 - WarrantyA promise by a manufacturer or seller to ensure the quality or performance of the product for a specific period of time 48:29 - Contingent Liabilities 49:58 - Warranties: Exercise: E10-10(a) 53:18 - Class Exercise: E10-10(b) 54:57 - Retirement Costs (App 10A) 58:59 - Retirement Liabilities Disclosures: NIKE 01:04:06 - 01:07:23 -
Views: 5983 SusanCrosson
Definition of Assets in Urdu with example by the education forum
 
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In this video , I am going to Define Assets in Urdu/ hindi & Types of Assets ( Current Assets & Fixed Assets) definition of assets and liabilities, definition of assets in urdu, definition of assets in hindi, definition of assets in accounting in hindi, definition of assets,Current Assets,Fixed Assets, types of assets, types of assets and liabilities, types of asset classes, types of assets to invest in, types of assets in hindi, types of assets in accounting, types of assets rich dad poor dad, types of assets robert kiyosaki, different types of assets, types of financial assets, types of asset fixed assets, fixed asset schedule, fixed assets ax 2012, fixed assets register, fixed assets reconciliation, fixed assets and depreciation, fixed asset accounting, fixed assets entry in tally, fixed assets examples, fixed assets in sap b1 9.2, types of asset,current assets, current assets and fixed assets, current assets list, current assets in hindi, current asset ratio, current asset and current liabilities in hindi, current assets and current liabilities, current assets and noncurrent assets, current assets and noncurrent assets definition, current assets meaning in urdu assets, assets show, assets in urdu, assets of rao anwar, assets liabilities, assets management, assets in hindi, assets accounting, CMA foundation, Accounting Terminology, Definition of Assets, accounting, ipcc accounting, ca final, cpt coaching, CS foundation, Double entry book keeping, sudhir sachdeva law classes, sudhir sachdeva, Definition, Meaning and Types of Assets (Part-4),financial accounting definitions, Finance (Industry), Accounting, Accountancy, accounting definitions, what is an asset, what is a liability, what is stockholder's equity, what is an expense, what is a revenue, financial accounting unit 1 videos, financial statements, sections of a financial statement, terms to know in a financial statement, https://www.youtube.com/user/richardadjou/about?view_as=public, income statement, balance sheet, accountancy, accounting, financial accounting,assets and liabilities, Current liabilities, Long-term liabilities:, Liabilities, Long-term (Fixed) asset, Current asset, Assets, liabilities, navdeep bhardwaj, accountancy Please like subscribe & share my video with your friends Thanks for watching Please visit my Facebook ID: https://www.facebook.com/EducationFor... Instagram: https://www.instagram.com/the_educati... Visit my other videos https://www.youtube.com/watch?v=LM8Xc... https://www.youtube.com/watch?v=K2I-J... https://www.youtube.com/watch?v=gvVKH...
Views: 1758 The Education Forum
Other Current Assets on the Balance Sheet
 
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A video tutorial by PerfectStockAlert.com designed to teach investors and traders everything they need to know about other current assets on the balance sheet. Visit our free website at http://www.PerfectStockAlert.com
Views: 3382 Perfect Stock Alert
Classified Balance Sheet | Financial Accounting | CPA Exam
 
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Webiste: www.farhatlectures.com Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ III. Classified Balance Sheet—organizes assets and liabilities into important subgroups and provides more information for decision makers. A. Classification Structure 1. One of the more classifications is the separation between current and noncurrent assets and liabilities. 2. Current items are expected to come due (either collected or owed) within the longer of one year or the company’s operating cycle. 3. An operating cycle is the time span from when cash is used to acquire goods and services until cash is received from the sale of those goods and services. B. Classification Categories 1. Current assets—cash or other resources that are expected to be sold, collected, or used within one year or the operating cycle, whichever is longer. Examples: cash, short term investments, accounts receivable, short-term notes receivable, merchandise inventory, and prepaid expenses. 2. Long-term investments—assets held for more than one year, that are not used in business operations. Examples: stocks, bonds, promissory notes, and land held for future expansion. 3. Plant assets—tangible, long lived assets that are used to produce or sell goods and services. Examples: equipment, buildings, land. 4. Intangible assets—long-term resources that benefit business operation. They lack physical form. Their value comes from the privileges or rights that are granted to or held by the owner. Examples: goodwill, patents, trademarks, franchises, copyrights. 5. Current liabilities—obligations due to be paid or settled within the longer of one year or the operating cycle. Examples: accounts payable, notes payable, wages payable, taxes payable, interest payable, unearned revenues, current portions of long term liabilities. 6. Long term liabilities—obligations that are not due to be paid within one year or the operating cycle of the business. Examples: notes payable, mortgage payable, bonds payable. 7. Equity—owner’s claim on assets. For a proprietorship it is reported in this section as the owner's capital account. In a corporation, equity is divided into two main subsections: capital stock and retained earnings.
MBA 1.1 Financial Management - Balance sheet, Income Statement, Cash Flow Statement
 
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PART 1 Financial Analysis and Management @ Balance sheet, Income statement, Profit and loss account and Cash flow statement The management of the cash or finance in an organisation is called Financial Management. Area of financial management; • Financial accounting information • Management accounting information • Managing working capital (Cash inventory) • Raising finance/capital (shares or debt) • Investing the finance or capital….. Financial accounting information used by; Investors, Shareholders, Customers, Directors & managers, Financial institutions, Lenders, Suppliers, Investment analysts, Competitors, Trade associations, Employee, Unions, Government, Tax authority, Community… Transaction recording sequence: • Transactions, • Prime documents (cash book), • Ledger accounts, • Trial balance, • Adjustments, • Financial statements (Accounts) Main financial statements; 1. The balance sheet or statement of financial position, 2. The profit & loss account or Income statement 3. The cash flow statement 4. Statement of changes in equity, 5. The directors’ report, 6. Notes to the accounts (lots of detail), 7. The auditor report The financial position and performance of any business can be assessed by Ratio Analysis of balance sheet, income statement and cash flow statement. 1. The Balance Sheet or The statement of financial position Shows what the company owns against what the company owes Shows the financial position at any particular time which sets the assets against the liabilities Assets = Capital + Profit or loss + Liabilities Assets is owned by a business that has a value • Non-current assets (Fixed assets) - owned and used by business in the longer term to help make a product or a service which can then be sold at profit. • Tangible (Physical) assets: Plant, Vehicles, Stock...are depreciated. • Intangible (Non-physical) assets: Patent, Contract...are amortised • Current assets- held for a short period (less than 12 months) – Cash, Stock, Receivables…. Liabilities: owed by business to a person or organisation that has provided funds to finance the assets that is controlled by the business. • Equity - Original amount put into the business - generated profit kept within the business & other adjustments (called Reserves) • Non-current liabilities - amounts owed to parties other than the owners i.e. loans, bonds • Current liabilities: business will need to settle the amount owing within 12 months – Payables (owed to suppliers), Short term loans, Bank overdraft, tax….. Horizontal Balance Sheet by large company Noncurrent Assets + Current Assets = Capital & Reserves + Non-current Liabilities + Current Liabilities Vertical Balance Sheet by smaller businesses [Non-current Assets + Current Assets] -Current Liabilities -Noncurrent Liabilities = Capital & Reserves • Simplified Vertical Layout 1. Noncurrent Assets 2. Current Assets (CA) 3. Total Assets 4. Current Liabilities (CL) 5. Net Current Assets (CA-CL) 6. Total Assets - Current Liabilities 7. Less Noncurrent Liabilities 8. Net Assets (Net Worth) 9. Financed By [Share capitals & Reserves (Inc. retained earnings)] 2. The Profit & Loss Account or Income Statement or Turnover Reports the sales revenue earned in a period minus total costs of earning to reveal a surplus or deficit i.e. profit or loss. Measures the transactions taken place between two balance sheet dates • Simplified form of Income Statement (P & L Account) 1. Sales Revenue xxx 2. Cost of sales - (xx) direct cost of service or making goods 3. Gross Profit xxx 4. Expenses/depreciation -(xx) to generate sales 5. Operating Profit xxx 6. Interest charges - (xx) finance costs 7. Profit before tax xxx 8. Taxation - (xx) 9. Profit after tax xx earning in 1 year 10. Dividends -(x) Paid out to Owners (Not shown in IS) 11. Retained Profit x Re-invested back in the company (Not shown in IS) • Capital Expenditure (Capex) is recorded in the Balance Sheet i.e. buy a machine for cash • Operating Expenditure (Opex) is recorded in Income statement i.e Salaries, rent and fuel 3. The Cash Flow Statement Shows the flow of funds (movement of cash) through the business between the two reporting periods for the balance sheet Analyses the sources from which cash flow into and out of the business Supplements the balance sheet and income statement • Simplified Layout of Cash Flow: 1. Cash flow from operating activities 2. +/- Cash flow from Investing activities - Buy/Sell Non Current Asset 3. +/- Cash flow from financing activities - New loan/shares 4. = a net Increase or Decrease in cash over the time period
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Is Furniture A Current Asset?
 
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Balance sheet accounts current assets, long term assets dummies balance url? Q webcache. This can be compared with current assets such as cash or bank accounts, land and buildings, motor vehicles, furniture, office equipment, computers, 3 jul 2010 according to accounting principles followed worldwide, non generally include land, furniture 7 jun you also need know what are, why they differ from fixed these fixtures, any intangible property, plant equipment are collectively called. Assets accounts list and explanation accountingverse. Fixed assets are parts of the company that help with production and components last over time in 24 mar 2015 fixed generally include buildings, real estate, office equipment, manufacturing equipment furniture. Summary, forum fixed assets landfactoriesequipment; Computers office equipment assets, also known as tangible or property, plant, and (pp&e), is a term used in accounting for property that cannot easily be converted into cash. Current asset balance sheet accounts current assets, long term assets what is the difference between a fixed and which are classified as assets? Current on explained chart of bean counter. Financial statements will sometimes describe some assets as fixed, or current 4 dec 2015 (short term assets) include items that could be converted into neighborhood for his startup business, joe's furniture designs. Cheques provision for other current assets ( )7 the accounts are classified into and non equipment, delivery furniture fixtures, leasehold improvements, etc examples of fixed include office furniture, buildings, production additionally, possessions such as cash on hand or in distinctions also made between different kinds. This account tracks the accumulated depreciation of all furniture and fixtures 28 jan 2015 what is difference between a fixed asset current asset? A assets are long term, tangible such as land, equipment, buildings, vehicles. Googleusercontent search. Of a company land, buildings, factories, furniture, equipment, and so forth balance sheeta2. Office equipment (computers, fax machines, photocopiers, etc) office furniture current assets include cash and that will be converted into or fixtures; Accumulated depreciation fixtures (contra liabilities rsfixed long term short they may tangible like land, buildings, plant machinery, all you need to know about. The two types of asset accounts are current assets and long term. Current asset balance sheet accounts current assets, long term assets what is the difference between a fixed and which are classified as assets? on explained chart of bean counter. Property, plant and equipment (also called tangible fixed assets) are those assets that have some physical existence. Classification of assets and liabilities financial statements (final current knowledge center 12managecurrent what's the difference why is it what are assets? Bright hubtypes classified balance sheet accountingtoolsbalance iliquid smmmo. What is office equipment classif
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