SAS 149 [Video]
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SAS 149 [Video]

Close Captioning has been auto-generated.The AICPA has issued SAS 149, Special Considerations — Audits of Group Financial Statements (https://www.aicpa.org/resources/download/aicpa-statement-on-auditing-standards-no-149) (Including the Work of Component Auditors and Audits of Referred-to Auditors), which supersedes extant AU-C 600. The new standard differentiates between a newly created term “referred-to auditors” (not part of the engagement team) and an updated term “component auditors” (part of the engagement team). It also moves towards a principles based approach for deciding the proper audit response. The SAS is effective for audits of group financial statements for periods ending on or after December 15, 2026.Do you agree with the changes to group audits?Watch all A&A Today videos at https://www.youtube.com/playlist?list=PLzz2wvHsZ2DNJ64dEWyHTq5BcvI1RALA-____________________________________________________________Subscribe for More CPA Video Updates https://www.youtube.com/user/WashingtonCPAs CONNECT WITH US: WSCPA https://www.wscpa.org FACEBOOK https://www.facebook.com/WashingtonCPAs LINKEDIN https://www.linkedin.com/company/353584 TWITTER https://twitter.com/WashingtonCPAs INSTAGRAM https://www.instagram.com/washingtoncpas/

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Journal Entry for Stock Issuance [Video]
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Journal Entry for Stock Issuance [Video]

This video shows how to record a journal entry for a stock issuance. The journal entry for a stock issuance differs based on whether: -The stock issued is common stock or preferred stock -The stock issued is par or no-par stock -The stock is exchanged for cash or non-cash consideration -Stock issuance costs are netted against the proceeds against the stock issuance The video shows the journal entry for the stock issuance in each of these situations. 0:00 Introduction 0:20 Issuing no-par stock 0:43 Issuing stock with a par value 1:45 Issuing stock for noncash consideration 2:59 Issuing preferred stock 3:48 Accounting for stock issuance costs — 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

Order book- Youtube Shorts [Video]
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Order book- Youtube Shorts [Video]

#shorts #orderbook #financialmarket #wallstreetmojo What is order book?| MUST WATCH | WALLSTREETMOJO An order book is an electronic book that records all buy and sell orders for a specific stock, currency, derivative, bond, etc. You’ll find data on the bid and ask offers, along with other orders like market orders, limit orders, stop loss, trailing stop loss, etc. To know more about it, check out our Youtube video. https://www.youtube.com/watch?v=OiYrAKbTL8o&t=22s ========================================================================== 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

Open position- Youtube Shorts [Video]
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Open position- Youtube Shorts [Video]

#shorts #openposition #financialmarkets #wallstreetmojo What is an open position? | MUST WATCH | WALLSTREETMOJO An open position is when a trader or an investor has either gone long or short on any financial asset and hasn’t yet squared off or closed the position. The duration of these open positions will vary with investors and traders. To know more about it, check out our Youtube video. https://www.youtube.com/watch?v=oQWoeRGsAew ========================================================================== 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

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