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Accounting@MacRob — 101 episodes · page 1 of 2
Calculating the GST
GST and the accounting equation
GST General.
Qualitative Characteristics - Verifiability
Qualitative Characteristics - Comparability
Qualitative Characteristics - Faithful Representation
Qualitative Characteristics - Understandability
Qualitative Characteristics - Timeliness
Accounting Assumptions - Entity
Accounting Assumptions - Going Concern
Accounting Assumptions - Accrual Basis
Accounting Assumptions - Reporting Period
Fair Value
The Accounting Equation (A = L + OE)
Expenses (General)
Revenue (General)
Owner's Equity
Equities (General)
Liabilities (General)
Assets (General)
Bad and Doubtful Debts
Accrued Revenue
Accrued Expenses
Unearned Revenue (Prepaid Revenue)
Prepaid Expenses
Balance Day Adjustments-General
Disposal NCA-Trade-In-Profit
Disposal NCA-Trade-In-Loss
Disposal NCA-Cash-Profit
Disposal NCA-Cash-Loss
Depreciation-Reducing balance
Depreciation-Straight line
Depreciation-General
Non Financial KPIs
Account Reconstruction
Business Performance: what is it?
Internal Control:
Cash v Profit (Unit 3)
The Cash Flow Cover (CFC)
Cash Flow Statement (Unit 3)
Classified Balance Sheet (Unit 3)
Good liquidity with net loss (Unit 3) Role Play
Profit but poor liquidity (Unit 3) Role Play
Ethics (General)
Quick Asset Ratio (QAR)
Closing/finalising the ledger
Product Costing
FIFO
Identified Cost (IC)
Accounts Payable Turnover (APTO)
Cash Cycle
Accounts Receivable Turnover (ARTO)
Inventory Turnover (ITO)
NRV/Inventory Write-Down
Inventory gains.
Inventory losses
The Physical Stocktake
Sales Returns
Purchases Returns
Working Capital Ratio (WCR)
Debt Ratio (Part 1)
Asset Turnover (ATO)
Return on Owner's Investment (ROI)
Opportunity Cost
Benchmarks: KPIs
Return on Assets (ROA)
Net Profit Margin (NPM)
Gross Profit Margin (GPM)
Profit and Profitability
KPIs: General
Credit interview
ARTO: Accounts Receivable Turnover
Accounting equation: payment to accounts payable (no discount)
Accounting equation: credit purchase of inventory
Accounting equation: receipt from accounts receivable including discount
Accounting equation: receipt from accounts receivable
Accounting equation: credit sale
Accounts Payable Statements
Statements for Accounts Receivable
Credit transactions and the reports
Accounts payable is a current liability
Why is Discount Revenue revenue?
Paying an Accounts Payable with discount revenue
Recording a credit purchase of inventory
Documentation and credit purchases of inventory
Buying inventory on credit: good for liquidity
Accounts receivable are current assets
Why is discount expense an expense?
Receipt from Accounts Receivable including discount
Recording a credit sale of inventory
Documentation and credit sales
How do account for credit card transactions?
Disadvantages in offering credit
Why sell on credit?
Credit Checks or Debtor Screening