5 Accounting Adjustments From Easy to Insane 😵‍💫

[@JessicaSantos-gr9us]

More of these please. As a seasoned accountant it’s a good refresher

[@camchurch911]

I’m an SFA at a SaaS company and it’s interesting seeing these problems impact us all the time. Though we recognize revenue and costs under ASC 606, it effectively functions the same as ASC 340.

[@Perfectsound88]

Marked it in watch later list.Will watch after going home.Waiting anxiously for the toughest entry 😊

[@avejshaikh9095]

Really helpful, especially considering the practical examples and the proper explanation. Thank you so much!

[@TheFinancialController]

You're very welcome!

[@suleymanmohamed512]

Beautiful piece of work, being one of your early subscribers I have benefited immensely from you and i can't appreciate more.You are really an inspiration and make me fall in love with this profession regardless of the threat posed by AI.

[@KatsC100]

Thank you. I have learned a lot!

[@ha-sipsatang]

Informative video, always good to showcase the capitalisation v expense rules under contracts for revenue.

[@gavinmears1817]

Excellent video. Easy to follow and well produced. I'm 20 years+ in the business but I got something from it and I'll be sending on to others.

[@h4rkus133]

Great video - really useful for racking up those additional CPD hours!

[@rajeshh6073]

Awesome content and very well explained..... Please continue to present more such videos 🫡

[@TheFinancialController]

Thank you, I will

[@Jon-jk3bh]

Awesome. Thank you.

[@rohitthakur-xv2dh]

Beautiful presentation and the way you explain it that's really helpful. Keep making such interesting videos.

[@TheFinancialController]

Thank you!

[@mz.loquacious]

​@@TheFinancialController can you create a video on these entry into balance sheet/ income statement ?

[@vlos3642]

Thank you!! More of these videos please

[@TheFinancialController]

Will do!

[@SeyPras.]

Awesome! More of these plz 🔥

[@zohaibaziz885]

Thank you so much for this video.

[@TheFinancialController]

You are so welcome!

[@Abby-gv2vg]

This is great video!!! Would you please post more cash flow forecasting, budget, consolidation and project accounting please!

[@honeythiefgameplays8609]

Saving to watch after work, started with late invoice of inventory... Exactly what mostly happens here lol 1st Edit watched everything and example and please I've learned new things please keep making videos like this with real life examples, reading and applying IFRS standards is a bit hard with no real life examples. I've learned how to write-off AR and my manager told me to write-off an AR account balance, trust me before this video I would DR an expense account, but now I know I will counter against doubtful allowances that was already created. keep up with this amazing work!

[@Nic-xr1og]

MORE OF THESE VIDEOS PLEASE!

[@jeremypage6093]

Your videos are always fun to watch. It give me practice on doing some aspects of accounting that I don’t always get an opportunity to do.

[@ValeriaPezzino]

I've just discovered this channel, and as an accountant I'm thoroughly enjoying the content. I work in Europe, looking forward to more IFRS content 😊

[@TheFinancialController]

Welcome aboard!

[@catiagm83]

Great job as usual. These kind of videos are superlatives!

[@marierosenbaum8232]

Well presented and laid out. THANKS!

[@michaelnavarro964]

Love this vid!

[@mohammadhabib1927]

Very well explained

[@imranmunawar3]

Very interesting and informative. Thanks

[@PiccolaMonalisa]

I love how easy to understand your material is. Do you have a labor sale for the bundle? I am not earning right now have time on my hands and I will need borrow to make it happen. Thanks for what you provide free of charge!

[@georgeosae2040]

So on point. Great delivery

[@mohamedfaisal4123]

Thanks for your effort. Please post more such real life scenarios.

[@TheFinancialController]

Thank you, I will

[@astrocatcity]

Very informative, thank you

[@TheFinancialController]

Glad it was helpful!

[@constantine2061]

Great video! Can you do a video for someone who wants to start their own accounting practice. Specifically what steps they should take, which roles they should pick, and what skills they should learn. Thanks

[@Perfectsound88]

Hana Sir Can you please make a video on IFRS 16 lease the treatement,how it is used in corporates with an example.Between thanks for all your videos and you are doing a great work.God Bless you.

[@bahosman2721]

Excellent piece

[@evednavimedia]

Good stuff! Thanks!

[@djay_3]

Thanks for such a good video 😊 Tc

[@noblekasondebwembya172]

Hi Bill, I’m a big fan of your channel and have been following your content closely as a subscriber. I really appreciate all the valuable insights you share about auditing and accounting. I was wondering if you could consider posting a video or providing templates for validating and recalculating accrued expenses and prepayments during audits. It would be incredibly helpful for many of us in the field. Thank you for all the great work you do! Best regards, Noble.

[@SaeedKhan-zm3zr]

Thank you sir

[@hasysali1159]

Thanks

[@Wookierabbit]

This was enjoyable. Mostly easy. Capitalization of Contracts was new to me, but made sense. :-)

[@lawrencesmith4514]

Great video! More of these 💯

[@adeebsmemorylane6056]

Great video.. please keep it up 👍

[@TheFinancialController]

Thanks, will do!

[@nclevans]

Can you do more examples? Thank you.

[@TheFinancialController]

Sure thing!

[@user-qb1iu2tx7x]

Great

[@juliapugachev6826]

The deferred rent account no longer exists under ASC 842. Can you please explain in which cases this rent sample can be used?

[@Mystery.motion]

Will the entry be different in case of financial lease ?? And why do you deferr the rent liability when a business gets a rent-free space ??

[@erickgarcia6494]

In that first example most companies use a GRNI account, goods received not invoiced instead of accrued liabilities for specific inventory purchases

[@TheFinancialController]

True, this is the concept. The mechanics differ

[@OhioDinonuggies]

Hi! Thank you for all these! Can you advise? I’m in accounts payable for global manufacturing a Berkshire Hathaway company, lots of processes outside of posting invoices. How can I relay my experience de in AP in an interview for an accounting associate? I have watched all your interview videos and have notebooks of notes. Advice would be so appreciated ❤

[@srisridaran05]

Hi, I have a doubt in moderate question. Why we're using deferred rent liability even it was mentioned as free for first month ? Can you please let me know

[@Justin-qq7qz]

for the A/R write off, is there another entry needed to reduce revenue by 25K as well?

[@mctaniegra9041]

Question please. Why are we Dr Allow for D/A for the whole 25K for that customer if we are only computing for a certain percentage each month for them? Why is it not Dr Allow for D/A (the % computed for that customer so far) Dr Bad Debt Exp balance then Cr AR 25K. Thank you in advance

[@derinsider3438]

Hello Financial Controller, i am currently living in Germany. Please, for someone not living in the USA, does it make sense to pursue CPA or i should go for ACCA . Kindly advise NB: Not sure if i may work in USA in future

[@YZsTravelAdventures]

Example 3 - you would recognise this as Lease Liability and ROU asset per ASC 842 as well right?

[@TheFinancialController]

There is an exception that allows to use legacy standard for leases 12 months or less

[@lyle6699]

Can you make a video about Bank reconciliation in real Life?

[@TheFinancialController]

I already have a video on bank reconciliation

[@MarkPlassmeyer]

Great video! Thanks for what you do on your channel. I'm a novice bookkeeper, so your videos are very informative and easy to digest. I had a question about #3 - Deferred Rent. In your question, you wrote the first payment was due April 1st. In the correct solution, you put the transaction date as April 30th. Wouldn't April 1st be the proper transaction date, presuming that's when payment was actually made? Or is April 30th proper under the accrual method? Thanks again.

[@TheFinancialController]

Yes, April 1st is more accurate. Though, for overall April Financials, no impact.

[@MarkPlassmeyer]

@@TheFinancialController I was thinking that was likely the case. Thanks! Keep up the great work.

[@majdees]

Great informative entries! I have a question. Shouldn't you credit the liability instead of cash in the buyout of legacy vendor contract? Then when you pay you credit cash and debit the liability? Appreciate it

[@TheFinancialController]

Yes, if you the cash will be paid at a later day. In this case, the cash is being paid immediately after the contract signing.

[@scottumfer4342]

I don't understand why you still use deferred rent examples. Companies were required to adopt ASC 842 1-2 years ago which eliminated the use of deferred rent. If anyone is following this example they wouldnt be GAAP compliant.

[@TheFinancialController]

Scott I believe the guidance allows for leases 12 months or under to elect a policy to use the legacy standard for operation lease.

[@scottumfer4342]

You are correct.

[@SwordofTheMorningg]

Using the word Fuck in a thumbnail of a professional development video…..it’s kinda cringe man. Obviously trying to attract people to your video with it but this is not the way. Probably the only person it bothers but maybe others feel the same way. Just wanted to mention - your content is always good but I was disappointed by this.

[@TheFinancialController]

It's a good point, I will change the thumbnail

[@user-xr5qr3rw3x]

看到他就讨厌 上次我问他有没有什么新的课 他让我态度好一点 我什么也没说 只是问他有没有新的课 他叫我态度好点 最狠就是不买你的课