Скачать с ютуб Capital and Revenue Expenditures - Financial Accounting Tutorial в хорошем качестве

Capital and Revenue Expenditures - Financial Accounting Tutorial

Capital and Revenue Expenditures is a free tutorial by Robert (Bob) Steele from Financial Accounting course Link to this course(Special Discount): https://www.udemy.com/course/financia... This is the best Financial Accounting Course Course summary: An Introduction to Accounting, The Double Entry Accounting System, & Recording Transactions using Debits and Credits Analyze, use, and create from scratch financial statements including a balance sheet, income statement, statement of equity, and statement of cash flows Use the concepts of the double entry accounting system Record financial transactions using the accounting equation Record financial transactions using debits and credits Learn when and how to use accounting methods such a the accrual method and cash method Apply the concepts related to the revenue recognition principle and the matching principle to recording transactions and reading financial statements Record period end adjusting entries and be able to explain why adjusting entries are necessary is a well designed accounting system Record merchandising transactions. Record transactions involving inventory Track inventory using cost flow methods like FIFO, LIFO, and Weighted Average Methods Create and use subsidiary ledgers like accounts receivable by customer and accounts payable by vendor subsidiary ledgers Learn how to create and use special journals and how they can be part of an accounting system Construct and interpret a bank reconciliation, one of the most critical internal controls Be able to implement internal controls over cash Value account receivable and record bad debt expense using either the allowance method or direct write off method Calculate depreciation using different depreciation methods including straight line depreciation, double declining balance, & units of production depreciation Record payroll transactions and calculate net pay and income tax withholding Record transaction specific to partnerships including methods to allocate net income to the partners, adding a new partner, and a partner leaving or selling a partnership interest Record transaction specific to a corporation including selling capital stock, selling preferred stock, buying treasury stock, issuing cash dividends, and issuing stock dividends Record transactions related to the issuance of bonds Record transactions related to notes payable. Learn to create an amortization table. Construct a statement of cash flows using the direct method and indirect method. We go into more detail about best practices to construct a statement of cash flows than any other course we have seen English [Auto] In this presentation we will discuss capital expenditures and revenue expenditures aimed at the difference between the two. Using a forklift as an example when we go through the demonstrations so we have the capital expenditures and the revenue expenditures and often the question is should something be capitalized as a capital expenditure or should it be expensed as a revenue expenditure. In other words what statement should the expenditure go under. If it is a capital expenditure it's going to go on the balance sheet. If it's a revenue expenditure it's going to go on the income statement. If we think about something like our forklift here the question is if we do some maintenance to the forklift is it a capital expenditure something we should put on the balance sheet and then expense over time. Or is it something that we should expense in year one should we put it on the balance sheet as we do with the forklift itself and expense the cost over some useful life. Or should we put it on the income statement and just expense it as it happens. Now of course the difference between those would be if we capitalized the expenditure something like putting a whole new engine in the forklift for example it would then go on the balance sheet whereas if we did some maintenance on the forklift then we would put it on the income statement. And there's always gonna be some question in terms of how much repairs and maintenance should be put in on that. On the balance sheet and how much should be just expensed at the time of purchase. So expense recognition then would be deferred. If we're talking about a capital expenditure meaning we're not going to write off the expense at the point in time we have the expenditure if we put a whole new engine into the forklift then we're going to put it on the books as an asset as we did with the forklift itself and then expense it over its useful life depreciated over its useful life. And that means we're going to defer the expense and we're not going to lower net income in year one. It will be lower a net income in later years whereas if it's just a normal r