best explantation in the Internet, so far!!! Thank you !!!
@kugblenuben208417 күн бұрын
I love your explanation
@kofiohenesasu476517 күн бұрын
Good morning Your is good, and kindly do more on the various standards.
@mulugetaassefa72 жыл бұрын
Well done !! good and clear approach keep it up!!
@omaryothman8774 Жыл бұрын
Thank you Sir George, excellent lecture
@miguelnsaka4911 ай бұрын
THIS IS GREAT SIR, SHOULD BE NAMING YOUR VIDEOS IN PARTS E.G PART 1, PART 2
@georgesaccountingtutorials10 ай бұрын
Well noted, Miguel. Thank you!
@annielehong91973 жыл бұрын
Wow! Wow! and more wow's!!! I can't remember how many videos I watched, in search of "Right-of-use asset" calculation but none of them helped. May God expand your territory sir.👏👏👏 Keep it up!! As I subscribe!!!
@PraiseHYMN7252 жыл бұрын
That was a perfect presentation. I going to look for the next
@kobinaenos34772 жыл бұрын
Good tutorials, keep it up.
@richardfosuhene73473 жыл бұрын
Very well understood. Keep it up sir
@mreben91833 жыл бұрын
Thank you so much sir this was very very helpful, highly appreciated 🙏💯
@godfreyedwinmwale2477 Жыл бұрын
thank you sir for this, its really clear teaching
@georgesaccountingtutorials Жыл бұрын
You are most welcome
@dorcasochil32613 жыл бұрын
An exquisite presentation! Very good one Sir
@georgesaccountingtutorials3 жыл бұрын
Many thanks!
@nhansieu3772 жыл бұрын
fantastic explanation and really good hand writing
@anthonyahuchaogu23313 жыл бұрын
This video is so explicit ..thank you
@solomonowomunigbon3487 Жыл бұрын
Thank u, quite simplified. Just an observation - under YE 2019 - the outstanding bal. is 13,337,500 {15,837,500 - 2,500,000}.
@ekegodswill5130 Жыл бұрын
I thought about this and even had to message him for clarifications Thank you
@cemsitmaz31653 жыл бұрын
Thank you Mr. Savio great explanation !
@tapiwamafuta80493 жыл бұрын
Excellent explanation!
@allennassali37243 жыл бұрын
Very useful. Thank you so much
@charleswanjau81882 жыл бұрын
Good work sir
@shiomwenyonamusha1722 жыл бұрын
Thank you very much. This really helped
@supernatural_fanz Жыл бұрын
I appreciate your efforts sir,ride on💪...but the amortization schedule for advance is different from that of arrears, pls corrext me if am wrong coz am actually confused😢
@georgesaccountingtutorials Жыл бұрын
Thanks for patronizing my channel. Yes, you are right! The amortization for "advance" is different from that of "arrears" because of the "timing" of lease payments. With the advance, lease payments are made before interest is calculated on the outstanding balance. On the other hand, with the arrears, interest is calculated on the opening balances before lease payments are made. I hope this helps.
@attapoku4769 Жыл бұрын
Why was the annual lease payment for the 2018 year ignored in the subsequent measurement
@georgesaccountingtutorials Жыл бұрын
Thanks for patronizing my channel, Atta Poku. It is because the 2018 lease payment (made at the beginning of the year) had already been factored into the calculation of the initial lease liability and Right-of-Use Asset. Thus, subtracting it again will be tantamount to a "double treatment" of the 2018 lease payment. I hope this helps.
@user-il2ej7gl3d5 ай бұрын
I am failing to understand how you have calculated the annuity factor of 5.759.May you demonstrate on the calculator please
@fasb253 жыл бұрын
At 9:17 can you show me how the double entry will be? The cash increased and decreased in this transaction
@jayadevsr5412 Жыл бұрын
Thank you,!!
@ifeychrisonyejeme79543 жыл бұрын
Thanks for the video. How do one account for the lease liability of a 5years contract with 2years prepaid at commencement date? How do you unwind the lease liabilities for the 5years ?.
@putikeswarasudarsono Жыл бұрын
Sir, thank you for the video, this is the only thing that answer my question so far. I would like to know, if in the first year you pay for, let's say two months rent, while maintaining the amount monthly annuity will it be recognised as and advance payment or a reduction in the lease liability principal? Thank you have a nice day.
@georgesaccountingtutorials Жыл бұрын
It will be recognized as an advance payment.
@GUYJOSUA3 жыл бұрын
thanks sir foe this is very helpful...
@hassanahmed27653 жыл бұрын
thanks man, it helps a lot
@cholamulubwa59463 жыл бұрын
Well explained
@mishawnroberts16623 жыл бұрын
Presentation is excellent however what do we do if the lease is paid monthly in advance?
@nellymotsa8290 Жыл бұрын
Thank you appreciated
@studentsfinancemasenounive8049 Жыл бұрын
THANK YOU!
@sharonmmary7291 Жыл бұрын
How did you get the Accumulated depreciation of 2019 which is 3,429,500?
@georgesaccountingtutorials Жыл бұрын
Since 2019 is the second year, I multiplied the annual depreciation charge of 1,714,250 by 2 to get the 2019 accumulated depreciation (i.e. 1,714,250 x 2 =3,429,500)
@sharonmmary7291 Жыл бұрын
@@georgesaccountingtutorials thanks much
@ellentechie-quansah70223 жыл бұрын
Excellent
@georgesaccountingtutorials3 жыл бұрын
Thanks
@christiancobbinah92963 жыл бұрын
I love it
@georgesaccountingtutorials3 жыл бұрын
Glad to hear that, Sir
@sumitchakraborty33703 жыл бұрын
Sir.., Annuity payments can also be calculated as For Year 1-9 at PVAF 10%, (10-1YEARS)..
@georgesaccountingtutorials3 жыл бұрын
Yes please
@tuwiilikakulula9698 Жыл бұрын
I am still finding it confusing to understand your amortisation schedule sir, I could really use a bit more of explanation on the table.
@georgesaccountingtutorials Жыл бұрын
Hello Tuwiilika, thank you for patronizing my tutorial video and for your question. This amortization schedule applies exclusively to the case where lease payments are made in advance (that is, where payment is made at the beginning of the period). Where lease payments are made in advance, the first payment is recognized as part of the Right-of-Use Asset (AND NOT IN THE AMORTIZATION SCHEDULE). That is why no lease payment was recognized in the amortization schedule for the year 2018. I hope this helps.
@michaelokai74243 жыл бұрын
Please can u do a video on this but lease rentals are paid semi annually?
@richardarhinful73463 жыл бұрын
I think with the payment made in an advance, that amount should be deducted from the opening balance in the amortization schedule and interest should be charged on the outstanding balance before moving to the next year.
@georgesaccountingtutorials3 жыл бұрын
Yes please...That's exactly what's in the video...Kindly check again
@blommabsa18923 жыл бұрын
I it should be ignored since it is present in the current liability of 14 397 500🤔.....we will subtract it after the payment has been made....I guess....but just think general I guess sir🤔
@daviemunene2 жыл бұрын
you have really made it clear, was wondering how its done for payment in advance
@ramyasri952211 ай бұрын
👍
@salomeasubop5077 Жыл бұрын
Good evening Sir...thank you for this clear explanation. But then i still dont understand why the initial lease payment made in the beginning of the year 2018 was not recognized in the subsequent measurement as the lease amount didnt reduce as at 2018 year-end. I mean isn't the advanced payment supposed to reduce the liability just as its done for 2019? Please explain further
@salomeasubop5077 Жыл бұрын
Oh i guess this is clear. Thank you
@joselynnnassimbwa12693 жыл бұрын
How can I like this video 2 times...😅
@alialbalushi97872 жыл бұрын
Hi sir Request you kindy explain how to do journal transaction in liability said As per we now right of use asset Transaction in will be Cr accumulated right of use asset Dr depreciation
@johnsonbaryeh2 жыл бұрын
It's been deducted in annuity calculation. That's , instead of 10yrs he used 9yrs
@blommabsa18923 жыл бұрын
Thanks sir....but I have a concern, you used the initial lease payment of 2500 000....you then added it to the right of use asset....were you not supposed to ignore it since it is present in the current liability ?? I feel like you have double counted🤔
@ifeychrisonyejeme79543 жыл бұрын
It wasn't added to derive the lease liability. Remember when he computed the annuity, he used 9 years lease /rental payments instead of 10year as the first year's payment is already prepaid. This prepaid amount was what was added to the right of use asset.
@kawukifelix54012 жыл бұрын
Is The beginning the same as Payment in advance
@tapiwamafuta80493 жыл бұрын
Can you do a video on deferred tax consequences ofIRFS 16
@georgesaccountingtutorials3 жыл бұрын
Noted, please
@attapoku4769 Жыл бұрын
Why was the annual lease payment for the 2018 year ignored in the subsequent measurement