Accounts Receivables, Video 1, What are Accounts Receivable?

[@charlesgold9016]

I wish we had youtube all those years ago in sixth form. Bet I would have gone on to major in Accounting not Economics in Uni. Many thanks for this

[@elsegrech]

No problem - happy I could help even now! Warm regards, Else

[@tovorakotoarisoa2549]

the best lecture about A/C RC on the KZbin.

[@elsegrech]

Thanks so much!!

[@joannetaylor999]

I'm doing a distance learning course and find your videos incredibly helpful. Thank you so much for making these available publicly.

[@pakbusinessbloggers3629]

KZbin is the best platform for learning.

[@Maroi-kun]

I am 49. I wish I would have majored in Accounting. I believe it was my calling, but listened to those who said it was hard. I didn't even pick up a book to see. I have spent the last 27 years post college in unfulfilling jobs.

[@elsegrech]

Never too late to change your career. My mother went to college to become a nurse when she was 44. I went back to university to become a primary school teacher at 42. My sister is 57 and she is returning to college next fall to become a forensic accountant. Never say never! You can do anything you set your mind to.

[@Mannymenhavetried]

You are an an expert educator. This field needs more people like yourself.

[@elsegrech]

Thank you so very much....it is wonderful to get feedback from someone who is learning accounting!!

[@sovannarasong6196]

I’m preparing for AR account interview, great video and simple to understand

[@elsegrech]

Thanks so much for the feedback Sovannara!! Much appreciated.

[@shaikhehteshm7984]

But salary is so less in India for AR

[@AYoung-kp4my]

You are an awesome clear teacher. Thank God for the internet but most importantly you.

[@elsegrech]

Thanks for the feedback!! Much appreciated. Warm regards, Else

[@riy99]

This is the best lecture about A/C RC on the KZbin.

[@jazzmiller2690]

This Video Rocks, very straight forward and easy to understand ! Thank you

[@elsegrech]

Thanks so much!

[@rafsanchowdhury343]

. Thank you so much for making these available publicly.

[@elsegrech]

You are very very welcome!

[@labourlawadvisorc.n.r3180]

I am in India. I am watching video it is very helpful

[@elsegrech]

Glad it helps your learning!

[@labourlawadvisorc.n.r3180]

@@elsegrech thanks for your reply. Your country name

[@raymondchan3275]

Why do i learn more from these super helpful videos than my acutal in-person class... Angry.

[@elsegrech]

It happens but remember that a video you can change to meet your learning needs...hard for an instructor in a class with a lot of students to do that. As an instructor I can tell you it's impossible. We just do our best in class.

[@Olivia-light.joy.and_peace]

You are now my favorite youtuber.

[@elsegrech]

THANK YOU SO MUCH OLIVIA!!!!

[@elainejiang6745]

I love your video, it’s crystal clear

[@elsegrech]

Thanks so much!

[@EmilyElizabethxox]

Great refresher, thank you for posting

[@elsegrech]

Thanks for the feedback Emily!

[@kishoriyadav1951]

nice video....

[@firstreviewer8966]

Very Well done and Very informative, Thank You, So Much! Excellent, FR

[@elsegrech]

Happy I could help!

[@scorpiogirlva8421]

To the point. Thank you!

[@elsegrech]

You are most welcome!

[@shanindian8570]

Thank you for a wonderful explanation on AR👍

[@elsegrech]

You are very welcome!

[@AMITAS5]

Its a very nice explanation.

[@elsegrech]

Thanks Amita!!

[@xxlamaxx1]

Hi from Richard Deklerk's class :D

[@elsegrech]

:o) Hope the course is going well!! Else

[@padmajapenmatsa3157]

This is v helpful.. Thank you so much.

[@sebleasmare5692]

Thank you so much I am very grateful. I wish I know you long time ago.

[@diontaedaughtry974]

Thank you this was very helpful and informative 👍👍

[@elsegrech]

Glad you liked it!

[@subramaniashok2612]

Diontae Daughtry

[@b.d.c1292]

thank you so much

[@Main446]

Great explanation! Thank you!!

[@elsegrech]

You are welcome!

[@sylvial1985]

Finally no Indian accent!

[@malihak.6467]

be grateful the people with indian accents are going out of their way to make videos to help you understand stuff instead of making fun of their accent....

[@firstoptionhomeinspection9040]

Thank you for your help

[@NB-pv6xi]

Thank you.

[@elsegrech]

You are very welcome!

[@Adrian.engleton]

One Love.

[@mustafamohamed6917]

Thanks for your videos! May you please make videos about closing entries and more accounting videos? I really found your videos helpful. Thanks a lot once again!

[@elsegrech]

Thanks Mustafa! I am working hard on creating additional videos and hope to post more soon! Thank you again. Else

[@bentrieshard]

at 7:40 you say that accounts receivable decreases and cash increases but the video shows a +4000 instead of a -4000. May wana clarify on that for some people.

[@elsegrech4042]

Thanks! Have to fix that and my apologies for the error.

[@jakysnaky1233]

+bentrieshard The mistake still isnt fixed, it could be very confusing for students

[@elsegrech]

+jacob posluns The biggest problem is that I am not a KZbin native...and I am having problems figuring out how to fix it in KZbin!! I will try and get it correction this week, during reading week! My apologies Jacob.

[@elsegrech]

+jacob posluns Figured it out and thanks so much for pointing it out Jacob!!

[@andrewgarcia681]

Hi, Else. Just a comment: at 4:14 you ask what the entry is on "October" 28th. I think you meant August. Minor error, but I just thought I let you know! Great video!

[@lisamccray6481]

My question is that the negative parentheses are automatically taken care of/inserted by using the appropriate journal entries?(Dr, Cr). And so are the placements to balance sheet and Income Statement?

[@elsegrech]

If I understand your question correctly Lisa....it is that an indicator of whether something is positive or negative on the income statement is indicated by whether something is recorded as a debit or a credit? That is somewhat true but keep in mind that a Credit is a negative for assets but a positive for liabilities and equity...so you have to view the "rule" with care. It would totally depend on which side of the equal sign (in the basic accounting equation) you are on. Hope that helps and, if not, just post another question! Warm regards, Else

[@lisamccray6481]

@@elsegrech I am very clear on your explanation here. Very much understood. It depends whether it is an asset or other-sided entry. So I must keep that in mind as a distinguishing factor. I will. I'm learning to keep in mind the twists and turns of each journal entry as it pertains to the accounting equation. I don't have a problem dotting I's and crossing T's. Thanks.

[@lisamccray6481]

@@elsegrech One more thing AFDA is negative. It's a contra asset. Originally speaking anyway. So not necessarily "always." Like when you have to add back to it because an uncollectible was unexpectedly paid/reinstate some of it... This may be a two part (at least) matter: individual customer and Income Statement.... Well, I can wear a rewind button down to the nub like no one else can... Thanks to you 🧐 and replay 🤔, I will be a millionaire 😎. So, don't worry about me anymore. Just letting you know how useful video 4 on write off/reinstating is. All of them, of course. I'm just so grateful to you. I'm not one to forget when far into the future. Just saying. I'll stop bothering you for now. But I will be back someday to thank you again, from the other side.

[@elsegrech]

@@lisamccray6481 You are very welcome!

[@elsegrech]

@@lisamccray6481 Glad I can help Lisa!!

[@lilibethmelean6732]

can I take this course if I live in the United States? Are the same vocabulary and accounting regulations?

[@elsegrech]

Hi Lilibeth. I would say that most of introductory financial accounting is identical between Canada and USA because it is at the very basic level. However, to be sure, you would have to compare what I am doing in my videos to what your instructor does in the class and what your course's textbook says. But the majority would be identical. Hope that helps! Else

[@lauriemanibusan9371]

Can I share this lecture with my students as a reinforcer

[@elsegrech]

+Laurie MANIBUSAN Absolutely Laurie - glad I can help students learn accounting!

[@giovannicriscione6697]

Why on min. 07:49 Accounts Receivables are NOT REDUCED (-) 4,000 $ but there is written Cash + 4,000 and A/R + 4,000? And instead on min. 08:04 it is correct (infact it is Cash + 2,000 $ and A/R - 2.000 $) ??! So confused on this!

[@elsegrech]

Apologies Giovanni. This is where I did a correction using the old KZbin ability to over write an exiting video. However, that option was removed later and therefore the error is now showing. You are correct....the A/R should have gone down by 4,000 and I should have shown a - sign, not a + sign. My apologies!

[@maisiem.6053]

Please please I hope you see this... So I'm doing up my trial balance I have done all of my ledgers..only problem is ..its not balancing.. Can you guide me.. Example: credit sales H.Henry 43... Should the 2 accounts be sales & H.Henry... Or should it be sales and Accounts receivable...???

[@elsegrech]

It is hard to say without seeing the question you are doing but...if the sales are on account then the correct entry is Dr. A/R, Cr. Sales Revenue. Hope that helps. Else

[@maisiem.6053]

@@elsegrech that's the correct questions... I'll repeat the question It says June 4- Credit sales H.Henry $4300

[@elsegrech]

@@maisiem.6053 Then yes, the entry I gave you is correct! Hope that helps.

[@maisiem.6053]

@@elsegrech thank you very much I will let you know... P.s: new subscriber!!

[@desmondlough2397]

#ElseGrench2020

[@elsegrech]

:o) Thanks so much!

[@drdwgmd14]

I still would vote for her. Dec 27th 2019

[@holymoly9695]

The best fucking video!!!❤️

[@elsegrech]

LOL! Thanks.

[@dekalvin]

please update the merchandising playlist

[@elsegrech]

Working on it Dekalvin! Else

[@dekalvin]

Else Grech Accounting thanks

[@maisalshami7975]

thank you so much ...would you please speak slowly 😅

[@elsegrech]

Sigh. I am struggling with that but am getting better. Remember there is an option to slow down the speaking on KZbin so take advantage of that...but I am working on that.

[@maisalshami7975]

Else Grech Accounting Thaaaank you so much 😊

[@ninam.6781]

4:10 the customer* pays

[@elsegrech]

Oh....what I mean is that the company which is our customer pays. But I can see that by saying it this way it is confusing. Apologies! Else

[@commandercody7594]

2 words... American accent.

[@elsegrech]

Canadian accent you mean! ;o)