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@ZealousSaidy 13 сағат бұрын
Ooh thanks madam God blessings is indeed with you in Christ ❤
@Futx.6 3 күн бұрын
Good teacher, thanks.
@tharakabandara6298 8 күн бұрын
❤
@jazzytownd4343 11 күн бұрын
hi mrs is there reasoning behind why we divide 72000/60% and not times
@aqaaccountingteacher 11 күн бұрын
Watch again from about 3 mins. The GP margin is 40% so COS represents 60% of the selling price which is 100%. Divide COS by 60 and multiply by 100 gets you the sales figure.
@Charityteamgosport 12 күн бұрын
Great video thanks miss
@aqaaccountingteacher 12 күн бұрын
You’re welcome 😊
@ShayneChurchman-Paston-hs1nx 12 күн бұрын
Hi! Really love the videos, just started A-Level Accounting. Currently on Income Statements, could you possibly go through a very simple IS? Including purchases, Purchases Rt, Sales, Sales Rt, Opening and Closing Inventories, and Carriage in and out. Thank you!
@aqaaccountingteacher 12 күн бұрын
Hello. Glad you are enjoying the videos. I have an accounting 101 playlist that covers all the basics, including a simple income statement and statement of financial position ACCOUNTING 101 - an introduction to the basics of Accounting: the accounting equation, debits and credits, T-accounts and double-entry bookkeeping. kzbin.info/aero/PLBHwxDxca95GMz4mURDGWi-dtxhg7Px99
@samantaislam2253 15 күн бұрын
I Don't whether my comment reaches you or not.. I had a qstn actually theres a qstn in my (cost and managerial accounting garrison 15th edition) So there i got Production cost per unit Year 1 =$ 32 Year 2 = $40 Goods sold Year 1 = 8000 (2000 units ending inventory) Year 2= 8000 (no Ending inventory) Now while making the income statement The calculation of COGS is being (8000*$32)-----year 1 ( 2000*$32)+ (6000*$40)---- year 2 My qstn is the units of goos sold was 8000 units in both year but Why they divided 2000+6000? Any logic Plz answer
@aqaaccountingteacher 15 күн бұрын
COGS for year 2 is made up of the 2000 units of opening inventory @$32 (these were closing inventory at the end of year 1) plus 6000 bought in year 2 at $40. Does that help?
@samantaislam2253 15 күн бұрын
@@aqaaccountingteacher yeah i just cleared the concept. Btw thank you so much for the reply 💟
@aqaaccountingteacher 14 күн бұрын
You’re very welcome.
@yemekdolaptahaberinola488 16 күн бұрын
thank you for the video!!
@zerog1037 17 күн бұрын
Very useful, thank you but I don't understand why the closing inventory isn't acocunted for the over absorption, yet we account for the over absoprtion of the fixed manufacturing costs after the gross profit.
@aqaaccountingteacher 17 күн бұрын
I think you’ve answered your own question there! We leave cost of sales as it is, including the inventory, and make the adjustment for under or over absorption after gross profit.
@eugeneheanue2083 29 күн бұрын
Love your videos. Would it be possible for you to organise them into a simple way. KZbin has kinda mixed them up. Once again thanks for your work. Looking at the AAT site, compared to years ago they are geared up now to charge more than they help. 👍
@aqaaccountingteacher 29 күн бұрын
Try looking at the playlists. They are organised into subject areas.
@MeTDG-vd9yp Ай бұрын
So skibidi
@junayedpatwary3573 Ай бұрын
If someone wants to talk to you personally about the subject, can they do that?
@aqaaccountingteacher Ай бұрын
No. Happy to try and help with queries through comments on the channel, though.
@junayedpatwary3573 29 күн бұрын
@@aqaaccountingteacher i have bought the revision notes from hodder education. Is it recommended book to buy? Also, how should you recommend to study the subject who is going to do the alevel withing one year than two years. However, the person has some sort of knowledge as the person did business alevel
@aqaaccountingteacher 29 күн бұрын
Yes, it’s a good revision guide. Business A-level gives you an overview of ratio analysis, capital investment appraisal and cash budgets but that’s about it. You’ll just need to work up from double entry bookkeeping onwards. The Osborne text books are good for learning the basics but you’ll need to do lots of practice using past exam questions to bring yourself up to the required level for the exams. Good luck!
@junayedpatwary3573 29 күн бұрын
@@aqaaccountingteacher do u think I need to buy the Osborne book if I have bought the revision guide?
@aqaaccountingteacher 29 күн бұрын
Yes, probably, as it goes into a lot more detail. The revision guide is great for revising once you have a firm grasp of the basics. There’s a separate text book for each year of a-level. I think they’re £16 each for the e-book.
@eugeneheanue2083 Ай бұрын
many thanks...
@aqaaccountingteacher Ай бұрын
You're very welcome 🙂
@khayliamorley1480 Ай бұрын
Omg I have a test and I’ll surely fail. I don’t think I could remember this all in one night. 😞
@Jraaaa-pd7cc Ай бұрын
at 10:20 why would you debit rent received instead of credit, since its an income and following clip shouldnt it be on the cr side
@aqaaccountingteacher Ай бұрын
It has been credited to the rent received account (income) and dr to the cash account (asset).
@jazzytownd4343 Ай бұрын
hi when i do the percentage of 33 1/3 x 48000 on my calculator it doesnt show 16000 so why do we have to do it by 3 i dont understand why not any other number whats the difference between 3 and 33 1/3
@aqaaccountingteacher Ай бұрын
33 1/3% is equal to 1/3. So, you either need to multiply by 33.33333333333333% or divide by 3.
@Wojbest_YT Ай бұрын
what would then happen to the 1042
@aqaaccountingteacher Ай бұрын
? It appears on the bank rec and will be the opening balance on the next month’s bank statement.
@GraceIkgopoleng Ай бұрын
I got a question saying that,Tizza (Pty)Ltd plot 278,Kaunda Road in Lobatse ,supplies Nazos resturantof plot 620,Pogodi Road Gaborone with items.July2024 1Nazos Restaurant had a balance of 2500.3Tizza(Pty)ltdsupplied goods toNazo Restaurant worth 2000. 4Tizza Pty Ltd sent a credit note 500 Tizza ltd Pty delivered goods to Nazo Restaurant worth 5000. 6Nazo Restaurant paidTizza Pty Ltd cash1500. Nazo Restaurant paid by check 6000. PLEASE HELP ME TO DO THIS QUESTION MAKING A QUOTATION LETTER
@zakariya-777 Ай бұрын
if we returned a cheque to a credit customer would we credit in the purchase ledger? (nothing to do with the question, just want to consolidate my knowledge, thanks)
@aqaaccountingteacher Ай бұрын
Customers are in the sales ledger and suppliers are in the purchases ledger. If a customer cheque bounces (returned by the bank) then Dr Customer and SLCA / Cr bank. If you bounce a supplier cheque, Dr Bank Cr Supplier and PLCA.
@zakariya-777 Ай бұрын
hi miss 11:18 is it overdrawn because its on the credit side, if so does that mean if the bal b/d was on the dr side of the cashbook then the bal per cash book would be a positive figure. Also if something doesnt match in the bank statement which is in the cashbook, if it is a Dr its an outstanding lodgement, buts if its a Cr its an unpresented cheque?
@aqaaccountingteacher Ай бұрын
Yes, spot on 👍🏼
@zakariya-777 Ай бұрын
hi miss, hope u are well just wondering for the 76 overdrawn, how can you tell its an overdrawn figure, is it because the bal b/d is on the credit side. thanks
@aqaaccountingteacher Ай бұрын
Yes, precisely that.
@mrdripz1095 Ай бұрын
is there any socials where i can add you because im struggling on some execercises, regarding double entr bookeeping
@aqaaccountingteacher Ай бұрын
No but I believe there are some Facebook groups that might be helpful.
@Charityteamgosport Ай бұрын
Top video ☘️☘️
@mrdripz1095 Ай бұрын
Is accounting A level hard
@aqaaccountingteacher Ай бұрын
It’s quite hard. The key is lots of practice. You can’t learn it by just reading a book.
@mrdripz1095 Ай бұрын
@@aqaaccountingteacher I'm worried about the maths aspect
@aqaaccountingteacher Ай бұрын
The maths isn’t difficult - no worse than GCSE. Basic arithmetic, percentages, ratios and some simple rearranging of equations.
@mrdripz1095 Ай бұрын
@@aqaaccountingteacher ohhh alr, would you happen to know anything about vocational courses such as criminology
@aqaaccountingteacher Ай бұрын
Not masses but it’s proving very popular at my college and is equivalent to an a-level. My students really like it and say it’s very interesting.
@EduRiz-w2h 2 ай бұрын
I got an A in aqa a level accounting scoring 171/240 only 6 marks of an A*. Thank you for everything as this wouldn’t be possible without you
@aqaaccountingteacher 2 ай бұрын
That’s amazing - well done. All of your hard work has clearly paid dividends 🙂 Good luck for the future.
@EduRiz-w2h 2 ай бұрын
@@aqaaccountingteacher thank you, you too miss.
@TinoMutingwende-hf1oo 2 ай бұрын
thanks , that was very helpful
@nikeshpoudel4001 2 ай бұрын
Thank you
@alansayer6961 3 ай бұрын
Busy summer! Working well.
@aqaaccountingteacher 3 ай бұрын
Haha. Made these earlier in the year but couldn’t upload until AQA released the papers. Hope you are enjoying retirement?
@alansayer6961 3 ай бұрын
@@aqaaccountingteacher I was marking for most of June. I'll tell you next month 😉
@Charityteamgosport 3 ай бұрын
Another banger video miss
@elliegordon9743 3 ай бұрын
Do you do private tutoring ?
@aqaaccountingteacher 3 ай бұрын
No, I’m afraid that’s not something I currently offer due to teaching full time 😢
@Charityteamgosport 3 ай бұрын
Great video thanks miss
@aqaaccountingteacher 3 ай бұрын
🎖️top fan😂
@Charityteamgosport 3 ай бұрын
Top video thanks Miss
@aqaaccountingteacher 3 ай бұрын
Thank you Raymond 😂
@imperialsofficial.7833 4 ай бұрын
Thank you ma'am
@aqaaccountingteacher 4 ай бұрын
You're very welcome 🙂
@Charityteamgosport 4 ай бұрын
Great stuff here thank you miss
@aqaaccountingteacher 4 ай бұрын
No, thank you @raymondwhelan1684
@darknessrulez-de4lv 4 ай бұрын
thank you for the video, I just dont understand the reason why the things go on the Dr/Cr side of the accounts, and I mostly get confused with accounts such as disposals, provision for doubtful debts, and provision for depreciation accounts as they are different to the rest of the DEAD CLIC accounts that we are taught. Is there anything I could do to make myself understand better?
@aqaaccountingteacher 4 ай бұрын
You need to make sure you fully understand basic double-entry before you start on the adjustments. The provision accounts all reduce the value of an asset which is why they are credit balances.
@parthapatney4297 4 ай бұрын
thank you for this video! I just dont understand why the disposal of depreciation goes on the Dr side in the provision for depreciation account, and out of all the DEAD CLIC accounts what type of account is provision for depreciation?
@aqaaccountingteacher 4 ай бұрын
The provision accounts all reduce the value of an asset which is why they are credit balances. When a disposal happens, you have to remove the depreciation to date on that asset from the provision for depreciation account so a debit entry is needed.
@DC-pn4ph 4 ай бұрын
your the 🐐, i had 58% attendance and literally spammed ur exam Q videos . Paper 2 went really well for me, paper 1 was good too just a little harder
@zuhairyusuf4656 4 ай бұрын
I don't get it , When calculating total direct materials Why did you not use the formulae (Standard usage × standard price )-( actual usage × actual price) Instead of using standard usage of 2850 as in the formula, you used actual usage of 3100 So why did you do that ?
@aqaaccountingteacher 4 ай бұрын
You always need to flex the standard quantity for the actual level of production.
@zuhairyusuf4656 4 ай бұрын
I still don't understand 😞
@aqaaccountingteacher 4 ай бұрын
SQ is often given for planned output but if you didn’t make the planned number of units you need to flex it to how many units you actually produced. Easiest way to do it is to find SQ for 1 unit and multiply by the ACTUAL NUMBER of units produced.
@zuhairyusuf4656 4 ай бұрын
@@aqaaccountingteacher I got it ! Thank you so much , love your videos ,💯👏👏👏
@aqaaccountingteacher 4 ай бұрын
@zuhairyusuf4656 oh, I’m so pleased! You’re very welcome. Good luck for tomorrow.
@JoelR574 4 ай бұрын
How is this paper 2 ( what topic does it come under )
@aqaaccountingteacher 4 ай бұрын
It isn’t! It was from the old specification - ACCN2 (not 7127-2)
@Rahmzzz.1 4 ай бұрын
You got a video on Master budget? I cant seem to find to many on youtube
@aqaaccountingteacher 4 ай бұрын
Yes, I have several separate ones on the budgeted income statement and budgeted statement of financial position if you search for those. Jayne Slater is the text book example for both. There are some past exam Q’s, too.
@Rahmzzz.1 4 ай бұрын
@@aqaaccountingteacher Thanks, hopefully it doesn't come up on Monday
@nxxxxx4 4 ай бұрын
Hi I was doing Ishiguiro plc ( from ACCN4 2015) and the mark scheme says to times the fixed cost per unit by the adjusted units and here you did it by the original units. So I was wondering what is the difference between the treatment of fixed costs from both questions ?
@aqaaccountingteacher 4 ай бұрын
The question from 2015 I think is absorption costing? This one is marginal costing. That’s the difference! Under marginal costing you multiply up the original units by fixed costs. With absorption costing the OAR is based on forecast output so the under or over absorption is the difference between that and actual output.
@aidanmoore916 4 ай бұрын
If the OAR was on labour or machine hours for example , how would you go about calculating the cost of under absorption? Would it be the OAR x the difference in those aswell? Also is over absorption then classed as income? Thanks
@aqaaccountingteacher 4 ай бұрын
Yes, the number of hours more or less than planned x hourly OAR. And yes, any overabsorption is added to gross profit.
@DC-pn4ph 4 ай бұрын
10:47 where did u get 28500 from
@aqaaccountingteacher 4 ай бұрын
It’s SQ for 1 unit (15m) x number of units produced (1900).
@DC-pn4ph 4 ай бұрын
@@aqaaccountingteacheroh, why do you not multiply by 1850?
@aqaaccountingteacher 4 ай бұрын
Perhaps you need to rewatch the video! All the way through 🙂
@DC-pn4ph 4 ай бұрын
@@aqaaccountingteacheryep sorry just watched it, figured out you flexed it
@Eak-h7j 5 ай бұрын
would my answer need to be laid out in this exact format?
@aqaaccountingteacher 5 ай бұрын
No, paper 2 (management accounting) is much more flexible on layouts.
@ehehrrhr 5 ай бұрын
how come we subtract the under absorption ?
@aqaaccountingteacher 5 ай бұрын
It’s because you haven’t absorbed enough overheads so gross profit us higher than it should be.
@ehehrrhr 5 ай бұрын
@@aqaaccountingteacher ohh okay thank you
@Rahmzzz.1 5 ай бұрын
I'm confused. Why did you Depreciation since my teacher says to never add depreciation and also in Question 15 2023 exam they didnt't include depreciation. So what do we do?
@aqaaccountingteacher 5 ай бұрын
Maybe have a read of the earlier comments ⬇️. That should explain and/or rewatch the video.
@Eak-h7j 5 ай бұрын
why would you add the depreciation instead of taking it away?
@aqaaccountingteacher 5 ай бұрын
It’s already been deducted to arrive at profit for the year so we need to add it back as it’s a non-cash expense.
@mithunanvasanthan3888 5 ай бұрын
hello miss, at 7:30 you said the assets were being written off over 5 years, how did you get that. Also why did you get the percentage of the difference 60k-12k instead of 20% of 60k/12. Thats the only bit i got wrong in the question.
@aqaaccountingteacher 5 ай бұрын
20% per annum = 5 years. (100/20 =5). The depreciation is calculated on cost minus estimated residual value. That’s the annual charge which is divided by 12 to get 1 month’s worth.
@mithunanvasanthan3888 5 ай бұрын
@@aqaaccountingteacher that makes sense , thank you :)
@mrpodge2401 5 ай бұрын
@@aqaaccountingteacher wouldn’t it be (60,000 x 0.2)/12? I thought that was straight line. Do I assume that there’s been sales and purchases of NCA which have changed the annual depreciation?
@aqaaccountingteacher 5 ай бұрын
@mrpodge2401 yes, see above ⬆️
@ax930 5 ай бұрын
Hi! Sorry for when you are calculating the selling price is it over 60 because it’s in minutes and it’s 60 minutes in an hour or is it over 60 because that’s how much you calculated for materials ?
@aqaaccountingteacher 5 ай бұрын
You’re working out labour and overheads based on an hourly charge so the 60 relates to 60 minutes in an hour, it has nothing to do with the selling price.
@Ryan-qg2zk 5 ай бұрын
who is here after that 2024 SOCF