![Citibank $900M Wire Mistake Explained | A Breakdown In Internal Control [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_361_0_0jpg.jpg)
In August of 2020, A Citibank contractor, rather than sending the periodic interest payment of $8M to the lenders, he/she wired $900 million or almost the entire balance of the loan by accident. Citibank then sent a note to the wire recipient , the lenders in this case, saying, oops, sorry about that, please send us the money back. Some of them complied and returned the money.My Best-Selling Products:Get My โNight Before the Accounting Interview Guideโ including All Levels Q&A:https://thefincontroller.com/p/the-night-before-your-accounting-interview-guide-for-all-levels๐ Get $25 off MY ONLINE COURSE ON FINANCIAL METRICShttps://thefincontroller.com/p/learn-financial-metrics-kpis/?product_id=2659754&coupon_code=SAVE25&preview=logged_outUse Coupon Code: Save25——————————————————————-My Recommended Products (I will only share what I love โค here)โช๏ธ ๐ง Roger CPA Review Course (get 50% off): https://www.uworld.com/productreferral.aspx?ukey=8lzsxx2bT8qzYRxekeTKyWQ3d3dโช๏ธ ๐ Learning//SkillShare (get 2 weeks free): https://www.skillshare.com/r/profile/Bill-Hanna/7521537My Recommended Finance & Accounting Books ๐+๐ง =๐ฅโช๏ธ Auditing: https://amzn.to/361wJhZโช๏ธ Forensic Accounting: https://amzn.to/2G6t9boโช๏ธ Introduction to Finance: https://amzn.to/2ExgUEAโช๏ธ Introduction to Managerial Accounting: https://amzn.to/33SEyE4———————————————————————Hang Out with me on social media:๐ฑhttps://www.tiktok.com/@thefinancialcontroller๐๐ผโโ๏ธhttps://www.facebook.com/groups/780732429036886/?source_id=101273467885666๐ธ https://www.instagram.com/the_financial_controller/DISCLAIMER: 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.
Resources for Accountants
![Unlocking the Puzzle of Accounting for Foreign Currency [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_358_0_0jpg.jpg)
This is the introductory video to our self-study eLearning course “Unlocking the Puzzle of Accounting for Foreign Currency.” Check it out here: https://revolution.gaapdynamics.com/courses/unlocking-the-puzzle-of-accounting-for-foreign-currency-v2Accounting for foreign currency is foreign to many people. Itโs easy to see why. Itโs confusing! It raises questions such as:-How do you read foreign exchange rates?-Should you divide or multiply the rate by the amount of foreign currency?-Whatโs the difference between the reporting currency, foreign currency, and functional currency?-Where are gains and losses recorded? P&L? OCI?Given the recent volatility in foreign currency markets, there is a renewed focus on the accounting for foreign currency under ASC 830. From foreign currency transactions to translation of financial statements, check out this self-study eLearning module to make sure you’re covered! Read some of our blog posts about Foreign Currency: https://www.gaapdynamics.com/insights/blog/2018/03/20/unlocking-the-puzzle-of-accounting-for-foreign-currency/https://www.gaapdynamics.com/insights/blog/2016/08/02/dive-into-asc-topic-830-(fas-52)-to-better-understand-foreign-currency-translation/Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/catalog Subscribe to GAAP Dynamics to see more videos like these!
![Learning by Doing Explained | Management & Business Concepts [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_355_0_0jpg.jpg)
Discover what is Learning by Doing.Get Business Related Freebies: Free books from Amazon, any topic. Business, Fiction and Nonfiction:https://www.bizmove.com/free-books-online/ Video guides to improve your management skills:https://www.bizmove.com/business-management-course/ 300 free business and management guides:https://www.bizmove.com/small-business-encyclopedia/ Free business templates and tools:https://www.bizmove.com/tools/ Free management skills books:https://www.bizmove.com/books/management-skills-books.htm Free downloadable business plan template:https://www.bizmove.com/business-gifts.htm Free starting a business books:https://www.bizmove.com/books/starting-a-business-books.htm A comprehensive resource of free management and business related stuff:https://www.bizmove.com/******************Don’t forget to subscribe so you don’t miss any of our videos, we upload regularly.******************
![Audit vs Assurance | Top Differences You Must Know! [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_352_0_0jpg.jpg)
In this video on Audit vs Assurance, here we discuss top differences between Audit vs Assurance along with infographics and comparison table. ๐๐ก๐๐ญ ๐ข๐ฌ ๐๐ฎ๐๐ข๐ญ?—————————–The audit is the evaluation process of the accounting entries present in the company’s financial statement.๐๐ก๐๐ญ ๐ข๐ฌ ๐๐ฌ๐ฌ๐ฎ๐ซ๐๐ง๐๐?————————————Assurance is the process of analyzing and used in the assessment of accounting entries and financial records.๐๐ข๐๐๐๐ซ๐๐ง๐๐ ๐๐๐ญ๐ฐ๐๐๐ง ๐๐ฎ๐๐ข๐ญ ๐ฏ๐ฌ ๐๐ฌ๐ฌ๐ฎ๐ซ๐๐ง๐๐————————————————————————#1 – The audit is conducted through an internal auditor or an external auditor. Whereas, Assurance is conducted by an audit firm.#2 – Audit tells about any misrepresentation that happens in financial records, any misuse of funds, any fraud and any dishonest activity that a company does. Whereas, Assurance specializes in evaluating the improvement of information quality within an organization. #3 – The audit is the first step. Whereas, Assurance if followed by the audit.To know more about the ๐๐ฎ๐๐ข๐ญ ๐ฏ๐ฌ ๐๐ฌ๐ฌ๐ฎ๐ซ๐๐ง๐๐, you can go to this ๐ฅ๐ข๐ง๐ค ๐ก๐๐ซ๐:- https://www.wallstreetmojo.com/audit-vs-assurance/Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe – https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
![CPA Explains Revenue Recognition Under GAAP Rule | With Examples [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_349_0_0jpg.jpg)
Revenue recognition is figuring out when a business has actually earned its revenue. With the keyword being โearnedโ because itโs all about earning the revenue you record when it comes to revenue recognition rules.Knowing when to recognize revenue is one of the reasons why we have Generally Accepted Accounting Principles (GAAP). GAAP has detailed rules for when and how to recognize revenue, and how to report it on your income statements. The most recent of these rules is ASC 606 or Accounting Standard Codification 606.My Best-Selling Products:Get My โNight Before the Accounting Interview Guideโ including All Levels Q&A:https://thefincontroller.com/p/the-night-before-your-accounting-interview-guide-for-all-levels๐ Get $25 off MY ONLINE COURSE ON FINANCIAL METRICShttps://thefincontroller.com/p/learn-financial-metrics-kpis/?product_id=2659754&coupon_code=SAVE25&preview=logged_outUse Coupon Code: Save25——————————————————————-My Recommended Products (I will only share what I love โค here)โช๏ธ ๐ง Roger CPA Review Course (get 50% off): https://www.uworld.com/productreferral.aspx?ukey=8lzsxx2bT8qzYRxekeTKyWQ3d3dโช๏ธ ๐ Learning//SkillShare (get 2 weeks free): https://www.skillshare.com/r/profile/Bill-Hanna/7521537My Recommended Finance & Accounting Books ๐+๐ง =๐ฅโช๏ธ Auditing: https://amzn.to/361wJhZโช๏ธ Forensic Accounting: https://amzn.to/2G6t9boโช๏ธ Introduction to Finance: https://amzn.to/2ExgUEAโช๏ธ Introduction to Managerial Accounting: https://amzn.to/33SEyE4———————————————————————Hang Out with me on social media:๐ฑhttps://www.tiktok.com/@thefinancialcontroller๐๐ผโโ๏ธhttps://www.facebook.com/groups/780732429036886/?source_id=101273467885666๐ธ https://www.instagram.com/the_financial_controller/DISCLAIMER: 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.
![Investment Management Industry Fundamentals: Investments [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_346_0_0jpg.jpg)
This is the introductory video to to our self-study eLearning course “Investment Management Industry Fundamentals: Investments.” Check it out here: https://revolution.gaapdynamics.com/courses/investment-management-industry-fundamentals-investments-copyPart of the โInvestment Management Industry Fundamentalsโ learning path, this course presents an overview of typical investments held by entities in the investment management industry. This includes a discussion of the common types and accounting for equity securities, debt securities, and alternative investments. Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/catalog Subscribe to GAAP Dynamics to see more videos like these!
![Market Sentiment Explained | Management & Business Concepts [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_343_0_0jpg.jpg)
Discover what is Market Sentiment.Get Business Related Freebies: Free books from Amazon, any topic. Business, Fiction and Nonfiction:https://www.bizmove.com/free-books-online/ Video guides to improve your management skills:https://www.bizmove.com/business-management-course/ 300 free business and management guides:https://www.bizmove.com/small-business-encyclopedia/ Free business templates and tools:https://www.bizmove.com/tools/ Free management skills books:https://www.bizmove.com/books/management-skills-books.htm Free downloadable business plan template:https://www.bizmove.com/business-gifts.htm Free starting a business books:https://www.bizmove.com/books/starting-a-business-books.htm A comprehensive resource of free management and business related stuff:https://www.bizmove.com/******************Don’t forget to subscribe so you don’t miss any of our videos, we upload regularly.******************
![Common Stock Formula (Example) | How to Calculate Common Stock? [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_340_0_0jpg.jpg)
In this video on Common Stock Formula, here we discuss how to calculate Common Stock (number of outstanding shares) with the practical examples and downloadable excel sheet. ๐๐ก๐๐ญ ๐ข๐ฌ ๐๐จ๐ฆ๐ฆ๐จ๐ง ๐๐ญ๐จ๐๐ค ๐ ๐จ๐ซ๐ฆ๐ฎ๐ฅ๐?———————————————————Common stocks are a company’s number of shares, and are included in the balance sheet.๐๐จ๐ฆ๐ฆ๐จ๐ง ๐๐ญ๐จ๐๐ค ๐ ๐จ๐ซ๐ฆ๐ฎ๐ฅ๐———————————————-Common stock formula is represented as follows,Number of Outstanding Shares = Number of Issued Shares โ Treasury Stocks๐๐ฑ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐จ๐ฆ๐ฆ๐จ๐ง ๐๐ญ๐จ๐๐ค ๐ ๐จ๐ซ๐ฆ๐ฎ๐ฅ๐—————————————————————-Let’s take an arbitrary example of firm C. Find out how to calculate the company’s number of outstanding shares. We will now also try to understand what approved shares released shares, and stocks of treasuries mean. Suppose 4000 shares are the number of authorized shares for a company.SolutionGivenAuthorised Shares – 4000Shares Issued – 3000Treasury Shares – 700By using above formula we get, Number of outstanding shares = 3000 -700= 2300C Number of outstanding shares = 2300To know more about the ๐๐จ๐ฆ๐ฆ๐จ๐ง ๐๐ญ๐จ๐๐ค ๐ ๐จ๐ซ๐ฆ๐ฎ๐ฅ๐, you can go to this ๐ฅ๐ข๐ง๐ค ๐ก๐๐ซ๐:- https://www.wallstreetmojo.com/common-stock-formula/Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe – https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
![Accounting Jobs At Amazon | Job Duties, Qualifications & Salaries [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_337_0_0jpg.jpg)
Amazon offers a variety of Accounting and Finance positions for qualified candidates. In this video I review 3 different Accounting jobs with their duties, qualifications, and compensation. Videos mentioned in this episode:My video on making the move from Accounting to Finance:https://youtu.be/UXz2nw2kDbUMy video on US GAAP:https://youtu.be/Yy2y_tfqKdcMy video on benefits of working at a Big 4:https://youtu.be/afL2OmCUiA0My video on VAT vs. Sales Tax:https://youtu.be/TVhhQH7PXZkMy Best-Selling Products:Get My โNight Before the Accounting Interview Guideโ including All Levels Q&A:https://thefincontroller.com/p/the-night-before-your-accounting-interview-guide-for-all-levels๐ Get $25 off MY ONLINE COURSE ON FINANCIAL METRICShttps://thefincontroller.com/p/learn-financial-metrics-kpis/?product_id=2659754&coupon_code=SAVE25&preview=logged_outUse Coupon Code: Save25——————————————————————-My Recommended Products (I will only share what I love โค here)โช๏ธ ๐ง Roger CPA Review Course (get 50% off): https://www.uworld.com/productreferral.aspx?ukey=8lzsxx2bT8qzYRxekeTKyWQ3d3dโช๏ธ ๐ Learning//SkillShare (get 2 weeks free): https://www.skillshare.com/r/profile/Bill-Hanna/7521537My Recommended Finance & Accounting Books ๐+๐ง =๐ฅโช๏ธ Auditing: https://amzn.to/361wJhZโช๏ธ Forensic Accounting: https://amzn.to/2G6t9boโช๏ธ Introduction to Finance: https://amzn.to/2ExgUEAโช๏ธ Introduction to Managerial Accounting: https://amzn.to/33SEyE4———————————————————————Hang Out with me on social media:๐ฑhttps://www.tiktok.com/@thefinancialcontroller๐๐ผโโ๏ธhttps://www.facebook.com/groups/780732429036886/?source_id=101273467885666๐ธ https://www.instagram.com/the_financial_controller/DISCLAIMER: 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.
![Fair Value Hierarchy Advanced Issues [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_334_0_0jpg.jpg)
This is the introductory video to our self-study microlearning course “Fair Value Hierarchy Advanced Issues.” Check it out here: https://revolution.gaapdynamics.com/courses/fair-value-advanced-issues-microlearningOne of the primary fair value measurement disclosures is the fair value hierarchy which helps users of the financial statements understand the inputs used to measure fair value measurements.In this microlearning, you will learn the fair value hierarchy implications of off-the-run U.S. Treasury bonds, bonds priced using matrix pricing and centrally cleared derivatives.Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/catalog Subscribe to GAAP Dynamics to see more videos like these!
![New Product Development Explained | Management & Business Concepts [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_331_0_0jpg.jpg)
Discover what is New Product Development.Get Business Related Freebies: Free books from Amazon, any topic. Business, Fiction and Nonfiction:https://www.bizmove.com/free-books-online/ Video guides to improve your management skills:https://www.bizmove.com/business-management-course/ 300 free business and management guides:https://www.bizmove.com/small-business-encyclopedia/ Free business templates and tools:https://www.bizmove.com/tools/ Free management skills books:https://www.bizmove.com/books/management-skills-books.htm Free downloadable business plan template:https://www.bizmove.com/business-gifts.htm Free starting a business books:https://www.bizmove.com/books/starting-a-business-books.htm A comprehensive resource of free management and business related stuff:https://www.bizmove.com/******************Don’t forget to subscribe so you don’t miss any of our videos, we upload regularly.******************
![Cross Price Elasticity of Demand – Meaning, Formula, Examples | How to Calculate? [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_328_0_0jpg.jpg)
In this video tutorial, we learn what is cross-price elasticity, its formula along with calculation examples and downloadable excel template.๐๐ก๐๐ญ ๐ข๐ฌ ๐๐ซ๐จ๐ฌ๐ฌ ๐๐ซ๐ข๐๐ ๐๐ฅ๐๐ฌ๐ญ๐ข๐๐ข๐ญ๐ฒ ๐จ๐ ๐๐๐ฆ๐๐ง๐?————————————————————————–Cross Price Elasticity of Demand measures price-to-demand relation i.e change in the quantity demanded by one product with a change in the price of the second product where, if both products are substitutes, it will show a positive cross elasticity of demand.๐ ๐จ๐ซ๐ฆ๐ฎ๐ฅ๐————————————————————————–The cross-price elasticity of demand is represented as follows, Formula = (โQX/QX) รท (โPY/PY)Further the formula is elaborated as follows, Formula = (Q1X โ Q0X) / (Q1X + Q0X) รท (P1Y โ P0Y) / (P1Y + P0Y),๐๐ฑ๐๐ฆ๐ฉ๐ฅ๐————————————————————————–Let us take the simple example of gasoline and passenger vehicles. Now let us assume that a surge of 60% in gasoline price resulted in a decline in the purchase of passenger vehicles by 15%. Calculate the cross-price elasticity of demand in this case.Given,Percentage Change in Quantity of Passenger Vehicles =.-15%Percentage Change in Price of Gasoline =60%Using above formula we get,= -15% /60%= -25%To know more about the ๐๐ซ๐จ๐ฌ๐ฌ ๐๐ซ๐ข๐๐ ๐๐ฅ๐๐ฌ๐ญ๐ข๐๐ข๐ญ๐ฒ ๐จ๐ ๐๐๐ฆ๐๐ง๐, you can go to this ๐ฅ๐ข๐ง๐ค ๐ก๐๐ซ๐:- https://www.wallstreetmojo.com/cross-price-elasticity-of-demand/Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe – https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1