Month-End Closing Of Accounts By MAS (Mastering Accounting Skills)

[@humamahreen6863]

Thanks for sharing you explained to us very well Your work is great and will keep it up

[@jaffarsadiq6969]

Jazakallah is very useful points to attend an interview

[@guidinglights3285]

Very clear and informative presentation

[@khushibox8207]

Very nice video, keep it up.

[@MuhammadAnas-u5j]

Wao, this exactly i need

[@tharakasandaruwan3376]

Good one. Thanks.

[@azhard7399]

Jazak Allah khair for such short and to the point informative video 😊

[@seyedsalihu8668]

Assalamualaikum. You are the great teacher (Masha Allah superb explanation)

[@masteringaccountingskills7717]

Wa Alikum Salam. الحمدللہ علی ذالک

[@rizwangroup5371]

Tnx for ur Nice Presentation.

[@iamprakash3144]

U r a genuine Teacher

[@pkbinesh8744]

well done brother ....thanks

[@muhammadshah4014]

Nice sharing, Thanks

[@imrankhan-lx7rg]

Thanks for your efforts.keep it up

[@hemabenjadav8809]

Great video sir

[@zohajamil9831]

thanks for sharing

[@shoaibchand3565]

Nice info

[@Thehopefullone]

Thankyou very much sir 🙏

[@mahmoudkaram2209]

MashaAllah Bro, Your explaination is great

[@anandhakrishnanr7757]

Very helpful video👌👌

[@DazedInfoSeeker]

Thank you! Good work

[@kansingh5968]

Nice video thanks sir

[@ratheeshrathi1578]

Thank for all the help 😊

[@yousefaltaisan5229]

Jazak Allah Khair ❤

[@shafrazmustafa7875]

Shukran ❤ wa alaikum Salam sir

[@mahmoudalshami1557]

Like , subscribe,comments is not enough for this channel you deserve the best bro I'm lucky to find this channel in KZbin Greeting from Yemen

[@sangeethas8406]

Thank you

[@christine3081]

Hats off to you, Sir! You have the best and most practical content on the same topics! Subscribed👍

[@Jamal-rk1bk]

Good sir

[@zulfanraza3371]

I need it... Thanks sir, pls make video on deffered tax

[@atifmj4994]

👏👏✍👍

[@shoaibchand3565]

Please make more videos for practical accounting

[@ashrafbakr2758]

Thanks

[@kahoul22]

Brother may Allah reward you with good in this life and the next. It feels so good to learn accounting from a muslim brother. Do you have a linkedin

[@sherazsohail7400]

dear please make video on prepayment (expense & revenue)

[@m.b.hossain6818]

Walaikumussalam

[@cmakulwantsingh2039]

Great, Please make a video for Balance sheet Reconciliation, Preparation of cash flow statement, how to finalize books of accounts.

[@syedmustaqahamed458]

Assalamu aalaikum sir plz do a complete video topic on MIS management information system

[@masteringaccountingskills7717]

Wasalam Bro Sure, i will insha ALLAH

[@cartooneveryday395]

I thought that u speek arabic bec i speak arabic but its okay i will keep listening with English good luck

[@rahidap2178]

Thank you👍👍👍. Please make video cash flow statement please

[@masteringaccountingskills7717]

Thank you for feedback. I have in my list. Will share soon

[@rahidap2178]

@@masteringaccountingskills7717 sir, please give me your mobile number.

[@farrukhali3767]

Thanks for all

[@saeedmalol4630]

Accumulate depreciation ? Each fixed asset need accumulate depreciation? In Which head under it will come ? In your video u said contra asset , is it a head ? Please explain about it

[@masteringaccountingskills7717]

Accumulated depreciation is the total amount an asset has been depreciated up until a single point. Each period, the depreciation expense recorded in that period is added to the beginning accumulated depreciation balance. Contra asset means an account in chart of account that will be deducted from its relevant head of fixed assets. Like accumulated depreciation on plant and machinary will be deducted from total amount of plant and machinary under fixed assets. It is actually a provision from the profit of the company which will help to rebuy a new assets when the old assets is not in to usable form after some years due to wear and tear.

[@ansarvv5696]

Hii do you have online class

[@shr2543]

Amortization all prepaid expenses, which month we have to record insurance prepaid expenses for February month insurance prepaid ?

[@mahmoudkaram2209]

May you Please Explain to me How can I Know the Beginning Inventory every month? Means What is the Beginning Inventory On FEB and March... ETC

[@masteringaccountingskills7717]

Normally, the system will provide you with inventory reports. In addition to that, Every month end you will export inventory reports to Excel and save it. Like this, you will have inventory opening and closing for each month. Create a separate folder for each month closing files and save all reference files in that folder. Previous month closing inventory will be opening of current month.

[@usmansadiq9179]

Do we enter the estimate expense provision at month end for example in case of electricity bill. we receive bill mid of following month.. do we need to enter accrued expenses on estimate base . similary in case of salary. it also vary . so how we do this practically ? waiting for your kind reply

[@masteringaccountingskills7717]

Electricity you can if there is no VAT Involved. but for salaries not.

[@usmansadiq9179]

@@masteringaccountingskills7717 so we need to wait for actual electricity and salary expense figure in order to post accrual in back date ??

[@PUILTEAM]

The company ERP already prepare financial statements why re-preparing again ?

[@masteringaccountingskills7717]

Final accounts companies used to generate in excel. Saving that files for future reference. Why? Reason1) if in future any accountant intentionally or by mistake enter any entry in previous year, which is already closed. Then by matching previous period trial, we can easily trace that rransaction. For example, accountant received a cash of US$ 500 in current date 2 jan 2024 He will stole that cash and match his Cash ledger by making 500 $ cash payment in oct-2022. Thats why Managers are making GL Reconciliation for month end and year end closing and keeping track of financial statements in excel. Reason 2) Sometimes we have subsidiary GL Account for different account heads. But management doesnt want to see subsidiray GL accounts in financial statements, then managers will redevelop financial statement with control account only. Like this a 2 page or 3 pages balance sheet can be summarised in a half page only. Easy to understand. Example: Advances to employees is control account with 150 subsidiary gl for each employee. If in balance sheet you show all subsidary 150 act heads, it will be more than 3 pages on the balance sheet only for employee advances.... Reason 3) To calculate and automate financial statements analysis. I hope its clear, why even after having ERP Financial Statements, we need to prepare financial statements in excel.

[@farrukhsami7851]

Sir for AR reconciliation which month opening balance i have to take please explain in the video its confusing (last month opening balance I have to take or last month closing balance for current month please reply )

[@masteringaccountingskills7717]

Last month closing balance.

[@farrukhsami7851]

@@masteringaccountingskills7717 thanks sir 😇

[@osamakhan2749]

Asalam o alikum Sir i want to enhance my skills ,do you have time for teaching me online please.I am doing my job in dubai as an accountant for small business but i am not satisfied with the accounting procedures i am doing so i need to learn from you and apply it there

[@masteringaccountingskills7717]

Wasalam. Bro. Too much busy schedule. I am sharing whatever i have the skills. Especially for accountants training. Stay connected. Regards

[@salmansami7880]

Great explanation! Can I have your any contact

[@x-lookup]

Sir ye india hai angreji se jyada hindi log jyada achhe se samajhte hai