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Resources for Accountants

Journal Entry for Goods Sold on Credit [Video]

When a company sells inventory on credit, the company must debit the accounts receivable account and credit the sales revenue account. If the company uses a perpetual inventory system, then the company must also debit cost of goods sold and credit the inventory account at the time of the sale (if the company uses a periodic inventory system, cost of goods sold is not debited and the inventory account is not adjusted until the end of the period).When the company later collects cash from the customer, the company must debit the cash account and credit the accounts receivable account.— Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education accessible to all people.— SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING• A 44-PAGE GUIDE TO U.S. TAXATION• A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS• MANY MORE FREE PDF GUIDES* http://eepurl.com/dIaa5z— HIRE MICHAEL MCLAUGHLIN, PHD, CPA * https://michaelmclaughlin.com/hire-me — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/

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Resources for Accountants

What is Globalization? [Video]

In this video, we will discuss what is globalization, the factors contributing to it, how it actually works, and the pros and cons of globalization.What is Globalization?It is an extension of trade, commerce, and culture of a particular economy along with the different nations. As a result, it permits the interchanging of various domestic products, technologies, food, and other resources on a global scale.Globalization Characteristics- Flourishing TRADE- Movement of capital from one region to another region- Exchange of knowledge – Interconnectivity of different sectors- Promoting international investment- Exchange of services and goods Benefits of Globalization – Provides cross border connectivity – Promotes the dependency of nations- Helps in providing a free trade environment- Helps in expanding the business globally- Creates newer job opportunities- Workforce migration- Cultural integration- Lower taxes on international business Drawbacks of Globalization – Immigration issues for the workforce- Uneven distribution of wealth – Labor exploitation- Economic downfall in one nation impacts other countries- Competition from local sellers and loss of customers in the local market.For more details, you can refer to our article – https://www.wallstreetmojo.com/globalization/Connect with us! YouTube https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUwLinkedIn https://www.linkedin.com/company/wallstreetmojo/mycompany/Facebook https://www.facebook.com/wallstreetmojoInstagram https://www.instagram.com/wallstreetmojoofficial/?utm_medium=copy_linkTwitter https://twitter.com/wallstreetmojo

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Resources for Accountants

Life is Full of Imperfect Things | Inspiring short stories #32 | Motivational & Inspirational Video [Video]

Life is Full of Imperfect Things. Inspiring short stories #32. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.Other stories from the motivational series that may interest you:#1: A Glass of Milk https://youtu.be/f7ZsrgU5qpo#2: Building Bridges https://youtu.be/z11Qtbtup7k#3: Human Life Span https://youtu.be/9p8BsGHK7qg#4: When God Made Fathers https://youtu.be/sctpkPRfOWE#5: Digging Up a Garden https://youtu.be/-CZ7i7y5WEY#6: A $1.11 Miracle https://youtu.be/agH2B9Kp22c#7: Weakness or Strength https://youtu.be/9WWyJYfN2yM#8: Law of the Garbage Truck https://youtu.be/76q5IGAaN9Q#9: The Angry Father https://youtu.be/HKItgPLu-ts#10: Your Personal Angel https://youtu.be/W2suHpCXjFw#11: What Goes Around Comes Around https://youtu.be/z7pDopITEmY#12: The House with the Golden Windows https://youtu.be/q_x6xBDAvEU#13: The Cookie Thief https://youtu.be/2AN_WvGcczA#14: Attribute to Mother https://youtu.be/2iAHPt3bA6Q#15: A True Love Story https://youtu.be/EEfJ5t2OV7wGet the book, ‘Top 100 Motivational Stories: The Best Inspirational Short Stories and Anecdotes of All Time’: https://www.bizmove.com/inspiration/m9b.htm

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Resources for Accountants

How To Write A “Thank You” Note After Job Interview [Video]

From my experience as a hiring manager, a “Thank You” note can make the difference in getting hired. In this video I show you how to write a killer ‘thank you” note that will help you shine. Get your FREE “Thank You” note template here:https://thefincontroller.com/p/thank-you-note-template🔥Enroll in my online course “Night Before the Accounting Interview Guide” including All Levels Q&A🔥:https://thefincontroller.com/p/the-night-before-your-accounting-interview-course-for-all-levels📈Get My “Controller KPI Dashboard” (Excel + Course) with the most important P&L and Balance Sheet KPIs:​https://thefincontroller.com/p/controller-kpi-dashboard-one-kpi-dashboard-to-run-a-business​——————————————————————My Merch:https://the-financial-controller.creator-spring.com⚪️ 🧠 Roger CPA Review Course (get 50% off – Highly recommended): https://www.uworld.com/productreferral.aspx?ukey=8lzsxx2bT8qzYRxekeTKyWQ3d3d⚪️ 📚 Learning//SkillShare (get 2 weeks free): https://www.skillshare.com/r/profile/Bill-Hanna/7521537———————————————————————Hang Out with me on social media:📸 https://www.instagram.com/the_financial_controller/📱https://www.tiktok.com/@thefinancialcontroller🙋🏼‍♂️https://www.facebook.com/groups/780732429036886/?source_id=101273467885666DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!All views expressed on my channel are mine alone. Not intended as financial or professional advice

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Resources for Accountants

Tax Benefit of Employing Children [Video]

There are several tax benefits for employing children.If your child is under the age of 18 and works for your company, your child’s wages won’t be subject to social security tax, Medicare tax, or federal unemployment tax.If your child is at least 18 but under the age of 21 and works for your company, your child’s wages won’t be subject to federal unemployment tax.There are several caveats:• Your business must be either: (1) a sole proprietorship or (2) a partnership in which each partner is a parent of the child• Your child must do actual work for your business• You must pay the child actual wages – Buying them pizza for dinner doesn’t count, and yes there was a taxpayer who tried to deduct that— Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education accessible to all people.— SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING• A 44-PAGE GUIDE TO U.S. TAXATION• A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS• MANY MORE FREE PDF GUIDES* http://eepurl.com/dIaa5z— HIRE MICHAEL MCLAUGHLIN, PHD, CPA * https://michaelmclaughlin.com/hire-me — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/

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Resources for Accountants

Keep Your Dream | Inspiring short stories #31 | Motivational & Inspirational Video [Video]

Keep Your Dream. Inspiring short stories #31. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.Other stories from the motivational series that may interest you:#1: A Glass of Milk https://youtu.be/f7ZsrgU5qpo#2: Building Bridges https://youtu.be/z11Qtbtup7k#3: Human Life Span https://youtu.be/9p8BsGHK7qg#4: When God Made Fathers https://youtu.be/sctpkPRfOWE#5: Digging Up a Garden https://youtu.be/-CZ7i7y5WEY#6: A $1.11 Miracle https://youtu.be/agH2B9Kp22c#7: Weakness or Strength https://youtu.be/9WWyJYfN2yM#8: Law of the Garbage Truck https://youtu.be/76q5IGAaN9Q#9: The Angry Father https://youtu.be/HKItgPLu-ts#10: Your Personal Angel https://youtu.be/W2suHpCXjFw#11: What Goes Around Comes Around https://youtu.be/z7pDopITEmY#12: The House with the Golden Windows https://youtu.be/q_x6xBDAvEU#13: The Cookie Thief https://youtu.be/2AN_WvGcczA#14: Attribute to Mother https://youtu.be/2iAHPt3bA6Q#15: A True Love Story https://youtu.be/EEfJ5t2OV7wGet the book, ‘Top 100 Motivational Stories: The Best Inspirational Short Stories and Anecdotes of All Time’: https://www.bizmove.com/inspiration/m9b.htm

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Resources for Accountants

Island of Feelings | Inspiring short stories #30 | Motivational & Inspirational Video [Video]

Island of Feelings. Inspiring short stories #30 . Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.Other stories from the motivational series that may interest you:#1: A Glass of Milk https://youtu.be/f7ZsrgU5qpo#2: Building Bridges https://youtu.be/z11Qtbtup7k#3: Human Life Span https://youtu.be/9p8BsGHK7qg#4: When God Made Fathers https://youtu.be/sctpkPRfOWE#5: Digging Up a Garden https://youtu.be/-CZ7i7y5WEY#6: A $1.11 Miracle https://youtu.be/agH2B9Kp22c#7: Weakness or Strength https://youtu.be/9WWyJYfN2yM#8: Law of the Garbage Truck https://youtu.be/76q5IGAaN9Q#9: The Angry Father https://youtu.be/HKItgPLu-ts#10: Your Personal Angel https://youtu.be/W2suHpCXjFw#11: What Goes Around Comes Around https://youtu.be/z7pDopITEmY#12: The House with the Golden Windows https://youtu.be/q_x6xBDAvEU#13: The Cookie Thief https://youtu.be/2AN_WvGcczA#14: Attribute to Mother https://youtu.be/2iAHPt3bA6Q#15: A True Love Story https://youtu.be/EEfJ5t2OV7wGet the book, ‘Top 100 Motivational Stories: The Best Inspirational Short Stories and Anecdotes of All Time’: https://www.bizmove.com/inspiration/m9b.htm

Categories
Resources for Accountants

Spoken Words Can’t Be Retrieved | Inspiring short stories #29 | Motivational & Inspirational Video [Video]

Spoken Words Can’t Be Retrieved. Inspiring short stories #29. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.Other stories from the motivational series that may interest you:#1: A Glass of Milk https://youtu.be/f7ZsrgU5qpo#2: Building Bridges https://youtu.be/z11Qtbtup7k#3: Human Life Span https://youtu.be/9p8BsGHK7qg#4: When God Made Fathers https://youtu.be/sctpkPRfOWE#5: Digging Up a Garden https://youtu.be/-CZ7i7y5WEY#6: A $1.11 Miracle https://youtu.be/agH2B9Kp22c#7: Weakness or Strength https://youtu.be/9WWyJYfN2yM#8: Law of the Garbage Truck https://youtu.be/76q5IGAaN9Q#9: The Angry Father https://youtu.be/HKItgPLu-ts#10: Your Personal Angel https://youtu.be/W2suHpCXjFw#11: What Goes Around Comes Around https://youtu.be/z7pDopITEmY#12: The House with the Golden Windows https://youtu.be/q_x6xBDAvEU#13: The Cookie Thief https://youtu.be/2AN_WvGcczA#14: Attribute to Mother https://youtu.be/2iAHPt3bA6Q#15: A True Love Story https://youtu.be/EEfJ5t2OV7wGet the book, ‘Top 100 Motivational Stories: The Best Inspirational Short Stories and Anecdotes of All Time’: https://www.bizmove.com/inspiration/m9b.htm