Advanced financial accounting a PowerPoint presentation. In this presentation we will discuss enterprise wide disclosure, get ready to account with advanced financial accounting. enterprise wide disclosures established by ASC 280 standards provide users more information about the company’s risks generally made in a footnote to the financial statements. First category of required information to include under ASC 280 is information about products and services so information about products and services disclosure related to them. Companies are generally required to report revenues from external customers for each major product and service or each group of similar products and services. Unless doing so is not practical. primary reason for this is that the company could have organized its operating segments on a different basis from the organization of the entities product lines. So we’ve got then again, companies are generally required to report revenues and external customers for each major product and service. You might be saying, hey, well, they already have the segment’s reporting. But it’s possible that those two things don’t exactly line up in the way they put the segment reporting together and therefore, you know, you have this requirement. second category of required information to include under ASC 280 is going to be related to geographic areas information. The following needs to be reported unless it would be impractical to do so. revenues from external customers attributed to the company’s home country of domiciled revenue from external customers attributed to all foreign countries in which the enterprise generates revenues.
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Other Intangibles
In this presentation we can continue on discussing acquisitions, this time talking about other intangibles other intangibles other than goodwill, get ready to account with advanced financial accounting. We are talking here about intangibles that must be recognized separately. So in prior presentations, we talked about an acquisition process and the recording of goodwill and the calculation of goodwill. Through that process, you’ll remember that we talked about the revaluation we had to reevaluate the assets and liability of the company that’s been acquired to their their value and then consider that or compare that, to the consideration that’s being given we can think about goodwill. Now in that process, however, we might have some other intangibles that need to be valued at that time as well, other than just simply the goodwill. So for example, we might have marketing related intangibles things like Internet domains and trademarks. So instead of just basically lumping everything into goodwill, we got to say okay, all right. They’re going to be marketing related intangibles like the internet domains and the trademarks that we need to apply some of that intangible amounts to we need to value in essence, those things as well breaking them out from just basically a kind of a lump sum valuation of goodwill.
Note Receivable Example
In this presentation we will discuss notes receivable, giving some examples of journal entries related to notes receivable and a trial balance so we can see the effect and impact on the accounts as well as the effect on net income of these transactions. first transaction, we’re gonna have 120 day 7% note giving the company EMI and extension on past due AR or accounts receivable of 6200. When considering book problems and real life problems, one of our challenges is to interpret what is actually happening what is going on, which party are we in this transaction in? Therefore, how are we going to record this transaction when we’re looking at notes receivable? A common problem with notes receivable is the conversion of an accounts receivable to a notes receivable. So in this case, that’s what we have. We have an accounts receivable here that includes an amount of Due to us by this particular company in AI so these are our books, we have a receivable people owing us money for prior transactions goods or services provided in the past and they owe us in total, all customers owe us 41,521 this customer in particular owes us 6200 of this amount in the receivable that could be found not in the general ledger which would give backup of transactions by date.
Notes Receivable
In this presentation, we will take a look at notes receivable. We’re first going to consider the components of the notes receivable. And then we’ll take a look at the calculation of maturity and some interest calculations. When we look at the notes receivable, it’s important to remember that there are two components two people, two parties, at least to the note, that seems obvious. And in practice, it’s pretty clear who the two people are and what the note is and what the two people involved in the note our doing. However, when we’re writing the notes, or just looking at the notes as a third party that’s considering the note that has been documented. Or if we’re taking a look at a book problem, it’s a little bit more confusing to know which of the two parties are we talking about who’s making the note who is going to be paid at the end of the note time period? We’re considering a note receivable here, meaning we’re considering ourselves to be the business who is going to be receiving money. into the time period, meaning the customer is making a promise, the customer is in essence, we’re thinking of making a note in order to generate that promise, that will then be a promise to pay us in the future.
Accounts Receivable AR Subsidiary Ledger Explained
Hello, in this lecture we’re going to talk about the accounts receivable subsidiary ledger, the subsidiary ledger being the ledger that will be backing up the account of accounts receivable showing on the trial balance with 27,000. In it, in this case, accounts receivable being that accounts that represents what is owed to us. If we were the owner of the company, we might ask our accounting department, how much money do people owe us? In this case, it would be 27,000 would be the reply. Next follow up question would most likely be who owes us that money? And have we called them when are we going to get paid that money? In order to answer that question, we cannot look at the normal backup balance for all accounts that being the general ledger accounts. If we look at the GL we do get some detail in terms of the activity that has happened. However, that activity is not going to be in terms of who owes us the money. It’s in terms of date.
Receivables Introduction
In this presentation we will take a look at receivables. The major two types of receivables and the ones we will be concentrating on here are accounts receivable and notes receivable. There are other types of receivables we may see on the financial statements or trial balance or Chart of Accounts, including receivables, such as rent receivable, and interest receivable. Anything that has a receivable, it basically means that someone owes us something in the future. We’re going to start off talking about accounts receivable that’s going to be the most common most familiar most used type of receivable and that means something someone, some person some company, some customer typically owes us money for a transaction happening in the past, typically some type of sales transaction. So if we record the sales transaction, that would typically be the way accounts receivable would start within the financial statements, meaning If we made a sale, we would credit the revenue account, we’ll call it sales. If we sell inventory, it would be called sales. If we sold something else, it might be called fees earned, or just revenue or just income, increasing income with a credit, and then the debit not going to cash. But going to accounts receivable.
Accounts Receivable AR Subsidiary Ledger Explained 5
Hello, in this lecture we’re going to talk about the accounts receivable subsidiary ledger, the subsidiary ledger being the ledger that will be backing up the account of accounts receivable showing on the trial balance with 27,000. In it, in this case, accounts receivable being that accounts that represents what is owed to us. If we were the owner of the company, we might ask our accounting department, how much money do people owe us? In this case, it would be 27,000 would be the reply. Next follow up question would most likely be who owes us that money? And have we called them when are we going to get paid that money? In order to answer that question, we cannot look at the normal backup balance for all accounts that being the general ledger accounts. If we look at the GL we do get some detail in terms of the activity that has happened. However, that activity is not going to be in terms of who owes us the money. It’s in terms of date.
Unearned Revenue Reversing Entry 10.55
This presentation and we will enter a reversing entry related to unearned revenue. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file, we’re going to be opening up our old reports down here on the bottom left, the standard reports that being the balance sheet report. First, we’re going to be changing the dates up top from 1120 to the cutoff date 1120 to 2920 February 29 2020. We’re going to run that report. Right click on the tab up top, duplicate the tab up top, go to the tab to the left, go down to the reports on the bottom open up the other favorite report bad being the P and L Profit and Loss income statement where they’re going to be changing the dates up top for it from oh one it won’t let me do it. Why isn’t it let me do it. It’s gonna be a 1012020229 to zero.
Apply Credit Or Advanced Payment to Invoice 8.35
This presentation and we’re going to apply a credit or an advanced payment to an invoice. In other words, we got paid in advance by a customer recorded that into the system. Now we’re going to create an invoice and apply that event advanced payment to it. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file, we’re first going to take a look at our flowchart in the desktop version.
Customer Jobs or Sub Customer 7.65
This presentation and we will set up customer jobs or sub customers. In other words, if you’re working with QuickBooks desktop, people will typically call them jobs. If you’re working with QuickBooks Online, they’re using the terminology of sub customers. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file. Before we go any forward, let’s take a look at our flowchart within QuickBooks desktop.