Chapter 5 - FOB Destination and FOB Shipping Point EXPLAINED!!

[@aniyahb.7198]

This video was extremely helpful for me as I work through this civil law class. Thank you for your very thorough and easily digestible explanation!

[@elsegrech]

You are very welcome!

[@signmanmatt]

Thank you for taking the time to make this video! Teaching anything this clearly is an art! You are an artist!

[@MM-wv4ez]

Lovely lovely video

[@jazzman9469]

Thank you for this great breakdown. If the shipment is lost in transit and the terms are FOB destination, is the shipper still responsible for the freight cost or can they file a claim with the transportation company? If so, say for example the shipment is $5k, does the transportation company have to pay the shipper? Same question applies for damaged freight? Thank you!

[@petersakurai3986]

I have a question. Assuming that a Japanese company ordered shoes from a manufacturer in China on a "FOB Shanghai Port" basis. In this case, is FOB shipping "on the deck of the boat" sailing to Japan? I was tought in school that FOB means a shipper will be Free form any obligation when he loads the goods On Board the ship sailing to Japan. So, the manufacturer will pay all expenses until the goods are loaded on the deck of a ship. Am I correct in understanding this way? Please let me know. Thank you. Peter Sakurai

[@elsegrech]

Hi Peter. FOB means "free on board". If it then says "Shanghai Port" then the shipper pays all expenses until it is on board on the Shanghai Port. After that all shipping costs are born by the receiver. Hope that helps! Else

[@petersakurai3986]

@@elsegrech Hi Else, thank you very much for your explanation. It helps me a lot. Peter

[@carliandrews6843]

Quick question in the destination does the shipping get paid for when they receive the goods, or does the buyer get free shipping?

[@elsegrech]

FOB Destination that buyer does not pay and the shipping is free to the buyer...the seller pays for the shipping. Hope that helps.

[@swampdonkey152000]

Thanks!

[@سامحسيد-ص8ج]

Wonderful my teacher I want ask you about cma certification, is it really important or just business on middle east area specifically because it's fees is very expensive because it is pay by dollar

[@elsegrech]

Certification is worth it IF it is viewed positively by the individuals in industry that will provide jobs. Yes, often fees are very expense. Myself, in 2019, paid $1,400 Canadian in fees to CPA but, at the same time, I would not be able to work at my job (and may in the past) without my certification. There are many job sites which list jobs requiring a CPA designation, so I know that it is worth it here in Canada because jobs require it. So, my answer is...it depends on whether the jobs that are available require certification. If the answer is yes then the expense is worth it. Hope that helps. Else

[@سامحسيد-ص8ج]

@@elsegrech Really too thanks to your kind response, here in Egypt not more company need to cma certification, but it is important in some foundations and firms so I will learn it by self if I will not get certification but enough to mine that develop myself in accounting and language

[@elsegrech]

@@سامحسيد-ص8ج An excellent idea considering how much we can learn on our own with all the resource available to use today (and likely more in the future) Best of luck. Else

[@سامحسيد-ص8ج]

@@elsegrech Miss else I have a question If I give trade discount on bills Is that appear in income statment under selling expenses or appear in net sales formula

[@elsegrech]

@@سامحسيد-ص8ج Trade discounts appear as part of revenue, reducing sales revenue. Hope that helps

[@ParkerJohnston-u9l]

👍

[@laraloncar501]

😃

[@liljay0687]

I absolutely hate this topic

[@elsegrech]

But does this video help you learn it?!?

[@liljay0687]

@@elsegrech yes!!!! I was struggling to understand. This video told me FOB shipping point means the receiver pays for shipping costs. I had no clue lol and im using becket. I could’ve missed it in the lecture! Thank you for the video!

[@elsegrech]

@@liljay0687 Glad it helped!!