The video explains how to calculate cost of goods sold using the LIFO (last in, first out) method using the example of Delta Company. The presenter starts with the calculation of the cost of goods sold and goes on to compute the gross...

This video explains what is petty cash book & its need, what are the types of petty cash book & how to record transactions in petty cash book.

Internal Controls for Cash Disbursements - Accounting

Determine Cost of Inventory - Financial Accounting

In this video, the teacher explains how to complete a bank reconciliation using an example of a hotel company. They go through each step of the reconciliation process, including identifying outstanding checks, correcting bookkeeping...

Specific Identification Method of Inventory Accounting

Units Production Method of Depreciation

In this video, the teacher explains how to calculate and record the total payroll tax expense from the employer's perspective for a uniform company. The video covers the different components of payroll tax, including FICA, state...

In this video, the teacher explains how to journalize and calculate the relevant events for a notes payable example. They provide three different examples, including one that spans multiple years, one that occurs within one year, and one...

This video is a beginner's guide to basic accounting principles, using a grocery store business as an example. It covers concepts such as the entity concept, going concern concept, and the importance of maintaining proper records for...

Declining Balance Method - Depreciation - Accounting

Straight-Line Depreciation Method - Financial Accounting

The video covers expenses in the context of running a business. The speaker explains the definition of expenses and simplifies it in layman's terms by stating that expenses are the costs of assets or services used to generate revenue....

Introduction to Accounting Using real world examples, this live-action video introduces the profession of accounting in a dynamic style. The program begins with a brief history of accounting from ancient cuneiform business records to the...

GAAP Accounting Principles - Financial Accounting

This video is part of a series on accounting adjustments and discusses deferred expenses, specifically prepaid rent and supplies. The video defines deferred expenses and explains how they are assets paid in advance of receiving their...

In this video, the teacher explains the concept of FIFO (First-In, First-Out) method for inventory costing. They go through the journal entries and calculations step by step, showing how to determine the cost of goods sold and ending...

This Video Explains Why Relationships Matter in Marketing

This video explains the concept of a multi-step income statement, which breaks down net income into operating and non-operating income to provide investors with more detailed information about a company's finances. The video provides...

Ch4. Video 9 - Accounting Cycle for Merchandising Business Example Part 2

You can take a cue from George Washington by becoming commander in chief of your finances.