EDNA Vlog

A nonfungible (unique) token (NFT) is a cryptographic token stored on the blockchain. It is a digital representation of something in real life, such as art, media, or other content. In the coming years, accountants will take the lead in addressing accounting and financial reporting challenges related to this type of digital asset. Learn more about how accountants are making sense of nonfungible tokens. https://www.aicpa.org/resources/video/how-accountants-are-making-sense-of-nonfungible-tokens-nfts

As more industries and companies get involved with digital assets and blockchain business opportunities, accountants are taking the lead in familiarizing themselves with these technologies. Find out how accountants are well-positioned with and in organizations to provide expertise on digital assets and blockchain. https://www.aicpa.org/resources/video/accountants-are-providing-insight-on-digital-assets-and-blockchain

Accounting professionals are looking beyond digital currency and considering the full scope of digital assets, particularly as regulations are beginning to be put in place. Accountants can break down digital assets into three categories: digital record, blockchain, and tracking. Discover how accountants are leading the way in working with three categories of digital assets. https://www.aicpa.org/resources/video/accountants-are-considering-the-full-scope-of-digital-assets

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In Episode #8 of GAAP Chats, hosts Mike Walworth and Chris Brundrett dig into some recent SEC and PCAOB enforcement actions so, hopefully, other CPAs can learn from others’ mistakes! Specifically, we’ll talk about an SEC enforcement action involving related party transactions and a PCAOB enforcement action involving a myriad of errors on three audit engagements.

#shorts #limitorder #financialmarkets #wallstreetmojo What is the limit order? | MUST WATCH | WALLSTREETMOJO A limit order is a type of order that we can place in the financial markets, which allows us to buy or sell financial assets at a special price that we can pre-determine. To know more about it, check out our Youtube video. https://www.youtube.com/watch?v=OoEJ9964xHw ========================================================================== 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

In this video, you will learn everything you need to know about defensive industries. #defensiveindustry #necessities #wallstreetmojo #consumer #demand Chapters: 00:00 – Introduction 00:43 – What are defensive industries? 01:26 – Characteristics 02:34 – Example 03:36 – Advantages 04:12 – Disadvantages 04:53 – Conclusion What are defensive industries? A defensive industry is a specific industry that has constant production and distribution irrespective of the fluctuations in the economy of the country. Therefore, these industries would be vital even in recessions. This is possible because the products the industries produce mainly include essential commodities and basic needs products. Characteristics Non-affected by economic fluctuations Inelastic demand High returns Attract investors Low employee turnover Example Defensive industries include all those industries that have companies manufacturing essentials like food grains, consumables, medical items, etc. But there are industries, too, like the defense manufacturing industry, water treatment industry, waste management industry, etc. Retail companies like Walmart would also fall under the ambit of defensive industries as it deals with necessary products. Advantages Protects from global competition Allows economy to grow steadily Attracts investors Deals in products or services with inelastic demand Companies have lower employee turnover Employees have job security and satisfaction Defensive companies are less volatile Disadvantages Overprotection of the defensive industry may lead to a monopolistic situation. Lack of global competition will reduce innovation. Discourages companies to expand to products other than necessities. The growth of defensive industries is slower than in other industries. It provides lower returns to investors compared to other industries. Compliances in such industries are high. This was all about defensive industries. Subscribe to the channel, give the video a like, and share it with others. ========================================================================== 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 Minnesota Society of CPAs advanced a bill that would allow accounting students to meet the profession’s education requirement by earning 120 hours and two years of experience. If passed, this legislation would upend CPAs’ ability to easily practice across state lines, because licenses issued in Minnesota would no longer meet nationally accepted standards. Join the AICPA and National Association of State Boards Accountancy (NASBA) to learn about the consequences of reducing the profession’s education requirement.

Before you can test a client’s internal controls you first need to know which internal controls are in place. The auditor can identify the internal controls by asking the client’s employees to complete a questionnaire and by doing a walkthrough of the payroll cycle. The walkthrough would involve following a transaction from the initial hiring of an employee all the way through to the recording of a journal entry for payroll. The auditor should also perform a walkthrough of the process for removing a terminated employee from the payroll. If the auditor notices an area where a misstatement might occur during the walkthrough, the auditor should ask: has the client designed a control that, if operating effectively, would prevent or detect a material misstatement? The client should consider entity-level controls as well as controls specific to payroll. Segregation of duties is perhaps the most important internal control for the payroll cycle. 0:00 Introduction 0:40 Summary 0:54 Entity-level controls 2:31 Segregation of duties 4:42 Examples of segregation of duties 6:30 List of internal controls for payroll 7:08 Occurrence 9:58 Completeness 10:58 Authorization 12:01 Accuracy 13:08 Cutoff 13:31 Classification 15:01 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