![How to make a GIF using Adobe Photoshop [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_206_0_0jpg.jpg)
GIFs are a great way to add eye-catching movement to a social media post, or to add personality to a blog post on your website. GIFs are also a unique and efficient way to demonstrate a process or set of instructions within your eLearning module. Learn how to make a custom GIF with us using Adobe Photoshop in this short instructional video!See our full blog post here: https://www.gaapdynamics.com/insights/blog/how-to-make-a-custom-gif-using-photoshopLearn 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!
Resources for Accountants
![How I Saved Hundreds on My Car Insurance | Easy Way to Locate the Best Car Insurance Rate [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_203_0_0jpg.jpg)
Here’s the free service we use to discover the cheapest car insurance rate that is available to us: (toll-free) at 1-855-981-7528. This is a free by phone service that specializes in locating the cheapest car insurance rates. They perform the tedious task of shopping around, and present you with the cheapest auto insurance provider for your location. We call this service every year before our car insurance expires. It allows us to discover whether there is a cheaper car insurance rate than ours, and has saved us lots of money over the years.
![AICPA Town Hall Series – June 24 Edition [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_200_0_0jpg.jpg)
AICPA Town Hall Series – June 24 Edition
![IFRS 16 Lessee Accounting Example 2 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_197_0_0jpg.jpg)
This video shows how the lessee should account for a lease under IFRS 16 when the expected residual value of the asset is lower than the guaranteed residual value. In this situation, the lessee is expecting to make a payment at the end of the lease to compensate the lessor for the different between the guaranteed residual value and the asset’s actual residual value. The lessee must therefore discount this expected payment to its present value and include it when calculating 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 Right-of-use Asset [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_194_0_0jpg.jpg)
When the lessee capitalizes a lease, it doesn’t just record a liability; it also records a right-of-use asset. At the commencement of the lease, the right-of-use asset is calculated as follows:Initial measurement of lease liability + lease prepayments + initial direct costs + costs to dismantle/remove the asset or restore the site – lease incentives received from the lessor = right-of-use asset The right-of-use asset is then recorded on the lessee’s statement of financial position and depreciated over the lease term.— 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
![IFRS 16 Lessee Accounting Example 1 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_191_0_0jpg.jpg)
This video shows how the lessee should account for a lease under IFRS 16 when the expected residual value of the asset is higher than the guaranteed residual value. — 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 Right-of-use Asset | IFRS 16 [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2021/06/mp_188_0_0jpg.jpg)
When the lessee capitalizes a lease, it doesn’t just record a liability; it also records a right-of-use asset. At the commencement of the lease, the right-of-use asset is calculated as follows: Initial measurement of lease liability + lease prepayments + initial direct costs + costs to dismantle/remove the asset or restore the site – lease incentives received from the lessor = right-of-use assetThe right-of-use asset is then recorded on the lessee’s statement of financial position and depreciated over the lease term.— 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
![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