The 3 Most Important Income Statements [Video]
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The 3 Most Important Income Statements [Video]

The 3 most important financial statements are the income statement, the balance sheet, and the statement of cash flows.The income statement tells you whether a company made a profit or loss. It’s where you would go to see a company’s sales, expenses, and earnings. You can also use it to calculate a company’s margins.The balance sheet tells you what a company owns (assets) and what it owes (liabilities). It’s where you’d go to see the company’s cash or inventory balance, or to find out how much debt the company has. The balance sheet also shows the book value of the firm, which is called equity.The statement of cash flows tells you the sources of the company’s cash and how the company used that cash. Did the company gets its cash from normal business operations, from selling off productive assets, or from borrowing or issuing stock? And where did the company spend that cash? Maybe the company burned through cash in its operations, spent cash to purchase investments, or used cash to pay off debt or buy back stock. #Shorts— 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 freely available to the world.— 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 AND SPREADSHEETS* http://eepurl.com/dIaa5z— SUPPORT EDSPIRA ON PATREON*https://www.patreon.com/prof_mclaughlin— 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/* https://michaelmclaughlin.com

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Dollar-cost averaging: Easy explanation [Video]
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Dollar-cost averaging: Easy explanation [Video]

In this video, you will learn about an investing strategy called dollar cost averaging.#dollarcostaveraging #investing #wallstreetmojo #timingthemarket #portfolioChapters:00:00 – Introduction00:51 – What is dollar cost averaging?02:15 – Benefits02:48 – Limitations03:34 – Dollar cost averaging vs timing the market04:21 – ConclusionWhat is dollar cost averaging?Dollar cost averaging is a strategy in which firms or even individuals break down their investments into parts and invest at regular intervals.This investing approach allows investors to reduce volatility risks and sudden fluctuation in the prices of financial assets.(Explained in detail in the video)BenefitsThe strategy doesn’t just help divide and reduce the risk associated with the price decline, but it also builds consistency in investing.This strategy also allows investors to build a diversified portfolio instead of focusing on one single financial asset.LimitationsIf you are looking to get quick returns on your investment, then this strategy isn’t for you. You’d be better off investing lump-sum, but that means you’ll be taking on higher risk.The second limitation is that transaction costs will increase if you invest with this strategy.Dollar cost averaging vs timing the marketTiming the market would work only if you know for sure that the market will go up or down from a certain point. If you are a trader, then you may try and do that.But from an investing point of view, if you try to time the market, then you’ll never be able to get it right a 100%. There will always be a better time to invest.On the other hand, dollar cost averaging can help you avoid situations where timing the market can backfire.(Explained in detail in the video)This was all about dollar cost averaging. Subscribe to the channel, like the video, and share it with others.==========================================================================Subscribe to Our Channel –Youtube https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1LinkedIn https://www.linkedin.com/company/wallstreetmojo/Facebook https://www.facebook.com/wallstreetmojoInstagram https://www.instagram.com/wallstreetmojoofficial/Twitter https://twitter.com/wallstreetmojo

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Substantive Procedures for Auditing Payroll Cycle [Video]
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Substantive Procedures for Auditing Payroll Cycle [Video]

After the auditor has set the achieved level of control risk and determined the risk of material misstatement for the payroll cycle, the auditor can adjust detection risk: Audit Risk = Inherent Risk x Control Risk × Detection Risk Detection risk is the risk that the auditor’s procedures will fail to detect material misstatements. The auditor can increase or decrease detection risk by changing the nature, timing, and extent of the substantive procedures to be performed. The purpose of the substantive procedures is to substantiate financial statement accounts and disclosures. The more substantive procedures an auditor performs, the better the auditor’s chances of detecting material misstatements. When it comes to substantive procedures for the payroll cycle, the auditor can: • Perform analytical procedures • Perform tests of details for payroll transactions • Perform tests of details for payroll-related account balances After the substantive procedures have all been performed, the auditor will calculate the aggregate misstatement for payroll-related liabilities and other accounts. If the aggregate misstatement is less than or equal to the tolerable misstatement, the auditor will conclude that payroll-related liabilities and other accounts are fairly presented. If the aggregate misstatement is more than the tolerable misstatement, the auditor will conclude that payroll-related liabilities and other accounts are not fairly presented. In that case, the auditor would want the client to make an adjusting journal entry. 0:00 Introduction 1:13 Types of substantive procedures 1:21 Analytical procedures 3:58 Tests of details for transactions 5:38 Tests of details for account balances 6:39 After substantive procedures 6:54 Receive PDF guide — 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 freely available to the world. — 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 AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — 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/ * https://michaelmclaughlin.com

Material nonpublic information- Youtube Shorts [Video]
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Material nonpublic information- Youtube Shorts [Video]

#shorts #information #insidertrading #wallstreetmojo What is material nonpublic information? | MUST WATCH | WALLSTREETMOJO Material nonpublic information is information related to the company's internal matters that haven’t been made available to the public yet. Such information can affect the company's share price and investors buying and selling decisions in the financial markets. To know more about it, check out our Youtube video. https://www.youtube.com/watch?v=PF6yhTrx0Zo ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo

Market order vs Limit order- Youtube Shorts [Video]
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Market order vs Limit order- Youtube Shorts [Video]

#shorts #marketorder #limitorder #wallstreetmojoWhat are market order and limit order? | MUST WATCH | WALLSTREETMOJO Market orders will allow you to buy or sell financial assets in the financial market at the market price that’s being traded at that time.On the other hand, limit orders will allow you to buy or sell at a higher or lower price than the current market price. To know more about it, check out our Youtube video. https://www.youtube.com/watch?v=_KenQ8iNUm0========================================================================== Subscribe to Our Channel – Youtube https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn https://www.linkedin.com/company/wallstreetmojo/ Facebook https://www.facebook.com/wallstreetmojo Instagram https://www.instagram.com/wallstreetmojoofficial/ Twitter https://twitter.com/wallstreetmojo

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Episode 9: Debating the 150- hour Education Requirement for CPAs [Video]
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Episode 9: Debating the 150- hour Education Requirement for CPAs [Video]

In Episode #9 of GAAP Chats, Mike and Chris discuss the 150-hour education requirement for CPAs. This comes as states are considering reducing the requirement to address the shortage of accountants entering the profession. Please note that the following content is not a full transcript of the episode. For the full audio version, listen here: SIGN UP FOR OUR FREE WEBINAR!Improving Audit Quality – Get Ready for PCAOB Inspections and Peer Review!Earn Free CPE! Sign up by using the link below!https://info.gaapdynamics.com/improving-audit-quality-get-ready-for-pcaob-inspections-and-peer-reviews

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