![Changes to the CPA Exam 2024 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_185_0_0jpg.jpg)
The format of the CPA exam is changing significantly in 2024. The exam will have three core sections that everyone is required to pass:o Accountingo Auditingo TaxTechnology will be emphasized in all three of the core sections.In addition, CPA candidates will be required to pass one of the following disciplines:o Tax compliance and planningo Information systems and controlso Business analysis and reportingThus, to become a CPA, you’ll need to pass all 3 core sections and one discipline section. — Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin
![The Effect of the Residual Value on the Lease Liability | Lessee | IFRS 16 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_182_0_0jpg.jpg)
The residual value only affects the calculation of the lease liability when: a) the lease contains a guaranteed residual value and b) the lessee’s expected residual value is lower than the guaranteed residual value This makes sense; if the lessee has guaranteed that the residual value will be $10,000 but believes the residual value will only be $6,000 then the lessee should anticipate a cash payment of $4,000 (to cover the difference). This shortfall is considered a final lease payment, so it is discounted to its present value and included in the lease liability.If the lessee expects the residual value to be higher than the guaranteed residual value, then the lessee doesn’t anticipate making a payment. In that case, the residual value has no effect on the lease liability. If the lessee has not made any guarantees at all concerning the residual value, then the lessee isn’t responsible for declines in the residual value and there is no effect on the lease liability.— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin
![How to Calculate the Lease Liability | Lessee | IFRS 16 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_179_0_0jpg.jpg)
The lease liability is calculated as the present value of the lease payments. Three things are required to calculate the present value of the lease payments:1. The amount of each lease payment2. The lease term3. The discount rateLease payments include: (a) fixed or variable payments(b) amounts payable under a residual value guarantee(c) the bargain purchase priceWhen it comes to the discount rate, the lessee should use the lessor’s implicit interest rate. If the lessee doesn’t know the lessor’s implicit interest rate, the lessee should use the lessee’s incremental borrowing rate as the discount rate.— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin
![Lease Accounting for Lessees | Overview | IFRS 16 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_174_0_0jpg.jpg)
IFRS 16 requires lessees to capitalize all leases (with exceptions for short-term leases and leases of low-value assets). Capitalizing a lease means the lessee will:(1) Recognize a right-of-use asset upon commencement of the lease(2) Recognize a lease liability upon commencement of the lease(3) Record depreciation expense throughout the lease(4) Record interest expense throughout the leaseThe depreciation expense pertains to the right-of-use asset, while the interest expense pertains to the lease liability. This will result in a front-loading of expenses during the lease, since interest expense will be higher in the early periods of the lease (since the lease liability will be higher in the early periods, and interest expense is calculated using the lease liability).Note that the lessee’s interest expense could be different from the lessor’s interest revenue if the lessee’s lease liability differs from the lessor’s lease receivable.— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin
![AICPA Town Hall Series – June 17 Edition [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_169_0_0jpg.jpg)
AICPA Town Hall Series – June 17 Edition
![AICPA Town Hall – Apr 22 Edition [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_166_0_0jpg.jpg)
AICPA Town Hall – Apr 22 Edition
![3 Step DuPont Analysis for ROE | Financial Statement Analysis [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_163_0_0jpg.jpg)
The 3-step DuPont Analysis disaggregates return on equity (ROE) into 3 components: ROE = profit margin * asset turnover * equity multiplier Profit margin and asset turnover both pertain to the company’s operations, whereas the equity multiplier is a measure of leverage that pertains to the company’s financing decisions. Increasing the company’s leverage can increase ROE if the company is doing well, as the company can borrow money and earn a higher return than the cost of borrowing. In bad times, however, increased leverage can be a bad thing, as the company needs to continue making interest payments even if it is losing money. Thus, leverage makes good situations better and bad situations worse.— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin
![5 Step DuPont Analysis for ROE | Financial Statement Analysis [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_160_0_0jpg.jpg)
The 3-step DuPont analysis is helpful in that it breaks ROE into 3 components. However, the 3-step DuPont doesn’t fully isolate the effect of the firm’s financing decisions because it measures profit margin as net income divided by sales. The 5-step DuPont analysis corrects for this by using operating margin instead of profit margin and separately measuring the interest burden and the tax burden.The 5-step DuPont Analysis thus disaggregates return on equity (ROE) into 5 components: ROE = [(operating margin * asset turnover) – interest burden] * equity multiplier * (1 – tax rate)— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin
![ENGAGE 2021 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_157_0_0jpg.jpg)
Categories
ENGAGE 2021 [Video]
Reimagine what is possible at ENGAGE 2021The world experienced several major developments in 2020, and the pace of change isn’t slowing down. Depending on your mindset, skill set and resources, this can either be a challenge or an opportunity. At ENGAGE 2021, you’ll learn how to reimagine your futureNo other event comes close to our breadth or depth of specialized programming. You’ll gain exclusive insights, develop practical skills, and network with your unique professional community across ten crossover tracks. aicpaengage.com
![Lease Classification for Lessee | IFRS 16 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_154_0_0jpg.jpg)
IFRS 16 requires lessees to capitalize all leases, with two exceptions: (1) short-term leases (lease term of 12 months or less)(2) leases of low-value assets (fair market value of the leased asset is $5,000 or less at the beginning of the lease)If the lease meets either of these two exceptions, the lessee can choose not to capitalize the lease. It might seem like a company could avoid capitalizing a lease by simply entering into a one-year lease (to qualify for the short-term lease exception) and then renewing the lease each year. Such a company would still be required to capitalize the lease, however. This is because leases with a term of 12 months or less must be capitalized if (a) they have a renewal option and (b) it’s reasonably certain the lessee will exercise the renewal option.— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin
![ENGAGE 2021 SPORTS AND ENTERTAINMENT [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_151_0_0jpg.jpg)
Reimagine what is possible at ENGAGE 2021The world experienced several major developments in 2020, and the pace of change isn’t slowing down. Depending on your mindset, skill set and resources, this can either be a challenge or an opportunity. At ENGAGE 2021, you’ll learn how to reimagine your futureNo other event comes close to our breadth or depth of specialized programming. You’ll gain exclusive insights, develop practical skills, and network with your unique professional community across ten crossover tracks. aicpaengage.com
![Earnings Management and Financial Statement Analysis [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_148_0_0jpg.jpg)
When analyzing a company’s financial statements, it’s important to remember that the company’s management may have manipulated the financial statements. The company may have engaged in aggressive revenue recognition or improperly capitalized expenses to inflate the company’s profit. Thus, detecting whether a company has engaged in earnings management (or financial statement fraud) is a critical aspect of financial statement analysis; don’t just take the numbers as given. Remember that a lot of assumptions, estimates, and decisions led to the creation of those numbers, so they should be viewed with a degree of skepticism.— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin