It's that time of year again! Make tax preparation less painful by getting your documents in order.

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.

This video explains what are the Steps of an Audit Engagement

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

Ch4. Video 8 - Accounting Cycle for Merchandising Business Example Part 1

Companies often employ differing policies concerning whether to capitalize the purchase of assets or expense the purchase in a given year. This video explains the effects of a capitalization policy on the financial statements.

Financial accountants focus on the preparation of financial statements to report to the outside world. Managerial accountants focus on the use of internal information to all internal decision making.

Closing Process - Financial Accounting

How Inventory Method Affects Financial Statements

Thsi video explains what are the Generally Accepted Auditing Standards (GAAS)

GAAP Accounting Principles - Financial Accounting

In this video, we dive into the allowance method for uncertain accounts, a crucial concept for businesses that sell products on credit. We explore how this method helps deal with unpaid accounts and how it can provide valuable insights...

The video provides an explanation of contingent liabilities in accounting. The speaker distinguishes between known liabilities, estimated liabilities, and contingent liabilities - the latter being future obligations that may or may not...

In this educational video, we delve into the concept of accounting adjustments used to reconcile valuation methods. Join us as we explore the reasons behind the divergence between the book value and fair market asset value of a company's...

Absorption costing and variable costing are two methods of accounting for use of inventory or costs of goods sold in an organization

In this video, the four audit opinions (unqualified, qualified, adverse, and disclaimer) are explained.

This video explains what is a Substantive Test in Audit practice.

This video explains what are Contingencies in Audit practice.

This video explains what are Compilations in Audit practice.

This video explains what are Attorney Letters in Audit practice.

In this video, we will explore what accounts receivable are and dive into the purpose and process of conducting accounts receivable confirmations during an audit. We will also discuss the different types of confirmations and their impact...

This video explains the significance between a Single vs Combined Report in Auditing

The video provides an overview of Section 404 of the Sarbanes-Oxley Act. The video emphasizes the importance of evaluating both internal controls and financial statements as they can have different outcome assessments.

In this educational video, we delve into the important topic of Section 302 of the Sarbanes-Oxley Act (SOX). Join us as we explore the key provisions of this act and understand the responsibilities it places on upper management, namely...