Accounting Concepts & Principles | GAAP | CMA | ACCA | CPA | CA | CIA | CFA | Commerce Specialist |

This video from Commerce Specialist explains the Accounting Concepts and Principles. Lights are thrown on GAAP. It explains how to apply various accounting concepts in practical accounting. Complete discussion has been made on the Concepts like: Business Entity, Going Concern, Principle of Double Entry, The Money Measurement, Time Period Principle, Historical Cost Concept, Principle of Materiality and Aggregation, Economic Substance over Legal Form, Principle of Consistency, Principle of Adequate Disclosure, Prudence/Conservatism, Matching Principle, Principle of Objective Evidence and Concept of Realization.
This Video also explains how these accounting concepts are related to various topics in accounting, specially in the preparation of Financial Statements.
This tutorial/lecture video is very relevant and useful for students of B. Com, O Levels, A Levels, BBA, MBA, CA, ACCA, CMA, CIMA, CIA and CPA as it covers the learning outcomes of their syllabus.
About:
Commerce Specialist is a Certified Management Accountant (CMA) from USA, holds Certification in International Auditing from ACCA-UK, a Bachelors in Accounting, A teaching qualification of B.Ed., an MBA in Finance along with over 20 years’ experience of working in various MNCs in different sectors including Banking, NBFIs, Retail, Oil & Gas, Telecommunication, and top business schools, colleges and universities.
website link: www.comparativeedge.com
Link of my previous videos:
1. Depreciation Basics: [Methods and Calculations] • Depreciation | Methods...
2. IAS 16 Property, Plant & Equipment: • IAS 16 PPE | Property,...
3. Inventory Valuation [Systems & Methods]: • Stock Valuation System...
4. Break Even Analysis (CVP Analysis) • Break-Even Analysis | ...
5. IAS 7 Statement of Cash Flows: • Statement of Cash Flow...
6. Accounting for Receivables: • Accounting for Receiva...
7. Ratio Analysis • Ratio Analysis | Finan...
8. MBA VS ACCA • BBA V/S ACCA | MBA V/S...
9. Capital Budgeting / Investment Appraisal: • INVESTMENT APPRAISAL |...
10. Basic Accounting: • ACCOUNTING BASICS | FU...
11. Accounting Basics Part 2: • ACCOUNTING BASICS 2 | ...
12. How to Pass CMA • HOW TO PASS CMA USA EX...
13. Operate or Shut down decisions • Operate or Shut Down D...
14. Life Cycle Costing • LIFE CYCLE COSTING | P...
15. HOW TO PASS ACCA EXAM • HOW TO PASS ACCA IN FI...
16. IAS 33 (EARNINGS PER SHARE) • How to calculate Earni...
17. TARGET COSTING • Target Costing | Targe...
18. HOW TO DO CMA USA ESSAY SECTION • How to attempt CMA ESS...
19. ERRORS & THEIR RECTIFICATION • Rectification of Error...
20. SUSPENSE ACCOUNTS • Suspense Account | Rec...
21. OPERATING & FINANCIAL LEVERAGE • Operating Leverage | F...
Viewers and students can contact me on [e-mail] or email me at [e-mail] or whatsapp me on [phone].
Commerce Specialist, GAAP, Business Entity, Going Concern, Principle of Double Entry, The Money Measurement, Time Period Principle, Historical Cost Concept, Principle of Materiality and Aggregation, Economic Substance over Legal Form, Principle of Consistency, Principle of Adequate Disclosure, Prudence/Conservatism, Matching Principle, Principle of Objective Evidence and Concept of Realization. B. Com, BBA, MBA, CA, ACCA, CPA, CMA, A levels, O Levels, CIA,
#accountingconcepts #acca #cma

[@amrdeepsingh8397]

Very very understandable sir pls make more videos, I really appreciate your work, you saved my acca journey, i had almost given up but you are my glimmer of hope

[@CommerceSpecialist]

Thanks for your kind words. More videos are coming soon, links to many are already in the description

[@RamBathala]

feeling proud to be a part of sharing your knowledge sir , hope we continue this journey . thank you

[@laxmandaraithapa1758]

Outstanding teaching explanation... Hats off !

[@NadiaNadia-gz2fu]

amazing

[@asifansarii600]

Outstanding job

[@faithmusikisi7950]

Simple and easy to understand. Thanks Sir

[@drschinnathambiabrahamjohn163]

Sir, I am Dr Chinnathambi Professor i am following your lecture videos and peacefully taking classes as per yours.

[@mosesnjobo1651]

Thank you very much sir for well explained lesson.

[@CommerceSpecialist]

Thanks Moses

[@mohammedaathil9712]

Outstanding teaching sir👏✨

[@CommerceSpecialist]

Thanks dear🙏👍

[@pakistaninternational.9855]

I acknowledge your knowledge and the expert way of explaining every tipic.

[@CommerceSpecialist]

Thanks my dear❤️🙏

[@AbdulrazakSuleiman]

Sir iam really very happy for having your videos as guidance, with your videos we will learn more and also it gives us guidance on how to become successful in our ACCA journey, we really appreciate. Before i give up with ACCA that i cannot succeed but now with the help of your videos iam very confident that i can succeed. We really appreciate once again. I need videos on all IASs and IFRSs Standards thanks

[@CommerceSpecialist]

Thanks, sure.

[@shyakaoreste5715]

I tried to follow all you're video sir ,you're brilliant, I like the way you explain with a lot examples

[@CommerceSpecialist]

You are welcome, thx

[@Sadath435]

This video is very very usefull and explained very well and i understand it easily. Thank you sir for your valuable time and effort.

[@CommerceSpecialist]

Thanks Mohomed

[@deepakrana7949]

I have watched all your videos really helpful.

[@CommerceSpecialist]

Thx dear

[@jsam2787]

Love you Sir

[@idongesitakpan2218]

Thank you sir.. The video really helped..

[@CommerceSpecialist]

Thanks

[@ajeshnair4682]

Superb ❤

[@CommerceSpecialist]

Thx dear

[@akashdeepdhiman6775]

Today, I got to know all accounting principles in an easy method

[@CommerceSpecialist]

👍

[@tabb4481]

Clear explanation

[@CommerceSpecialist]

Thx

[@hb9354]

Great video sir! Learnt a lot. Can you please cover the topic of Business Combinations, Group Accounting, Consolidation Principles, and the most challenging questions on Consolidations. And, how to construct the Consolidated Financial Statements.

[@CommerceSpecialist]

Sure

[@ankitacharya5307]

Thank you sir make more videos

[@CommerceSpecialist]

Sure

[@asifansarii600]

Sir please come up with abc costing and process costing

[@CommerceSpecialist]

Sure

[@HabubaHams]

it is so clear but for some principals we need more examples.. specialy8matiriality 9 and 10

[@CommerceSpecialist]

Sure, will discusd it in class. Regards

[@aselapriyankara3176]

its is great explanetion sir .sir can you done f&q live session to to ask our accounting related matters.

[@CommerceSpecialist]

Sure, im planning for one. Hopefully soon

[@pakistaninternational.9855]

Is there your any video on Accounting Policy, available?????

[@CommerceSpecialist]

Policies are covered in different topics and standards

[@mohamedmahad4017]

Plz prepare Consolidation of financial statements

[@CommerceSpecialist]

Its in the pipeline dear.