EDNA Vlog

This is a video on “What are Cryptocurrency scams and how we can safeguard ourselves!”. #crypto #scam #wallstreetmojo #cryptocurrency #cryptoscam Chapters: 00:00 – Introduction 00:47 – What are cryptocurrency scams? 01:10 – What are Fake investment schemes? 01:40 – What are Rug pull scams? 02:23 – What are Romance scams? 03:04 – What are Phishing scams? 03:36 – What are social media giveaway scams? 04:14 – How to identify if you are being scammed? 05:13 – Conclusion (Explained in detail in the video) According to a CNBC report, more than 46,000 people have lost over $1 billion in crypto scams. Cryptocurrencies have surely gained the attention of people, but it has also gained the attention of scammers. These scammers are responsible for the rampant crypto scams that are targeting innocent people around the world. The crypto scams are just like any other financial scams, people fall for the various tactics used by the scammers, and they lose their money. There are many tactics that these scammers use: (Explained in detail in the video) 1. Fake investment schemes 2. Rug pull scams 3. Romance scams 4. Phishing scams 5. Social media giveaway scams (Explained in detail in the video) No matter what tactics the scammers use, there are some red flags that you can spot and save yourself from falling prey to them. 1. No one can ever guarantee any return or profit be it in anything, let alone in crypto. 2. Anyone offering you free money is basically out there to scam you. 3. Don’t trust anyone who is not ready to give you complete details of the investment. 4. Before you invest your money into anything, make sure that you do your own research to ensure that it is all genuine. 5. Anyone who approaches you claiming to grow your investments is most probably a scammer. (Explained in detail in the video) This was all about crypto scams that you need to be aware of. We regularly upload videos on topics including crypto, finance, etc. So, if you don’t want to miss out on those videos, then subscribe to the channel. Don’t forget to like, comment, and share this video as that’s how we’ll know you are liking our content. ========================================================================== 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

It also covers several AICPA updates , including new NOCLAR requirements and accounting and auditing for digital assets.

This is a video on “Crypto: What Is a Smart Contract?”. #stmartcontract #cryptocurrency #wallstreetmojo #smartcontractbenefits #miners Chapters: 00:00 – Introduction 00:01 – Introduction to contracts? 00:20 – Example of a standard Contract? 01:11 – What is a smart contract? 01:33 – Example of a Smart Contract? 02:14 – What are miners? 02:42 – How can we trust a smart contract? 03:20 – Sectors where smart contracts are used? 04:00 – Which company uses smart contracts? 04:14 – Live example of smart contracts 05:00 – Conclusion In this video tutorial, we will discuss standard contracts, Smart contracts and their example, miners, security and benefits of smart contacts, sectors and companies using smart contracts, etc. (Explained in detail in the video) Contracts govern a huge part of our personal and professional life. But, given the history of many contract violations, you can always rely on a central figure or authority to honour your side of the bargain? (Explained in detail in the video) Example: Largest crowdfunding platform, "Kickstarter” Individuals or organizations visit this website, create a project, set a funding goal, and start collecting funds. Once the target fund has been collected, Kickstarter must transfer the money to the creators. Or, if the project fails to accumulate the target funds, money must go back to the donors. (Explained in detail in the video) So, there is always a reliance on the central figure who acts as a contract dictator or controller. Similarly, smart contracts are programs or protocols stored in the blockchain that are executed automatically when pre-determined contract conditions are met. (Explained in detail in the video) So in the above example, instead of depending on Kickstarter, the organization decides to create a smart contract for its project. A developer programs the smart contract. Code is then added to the blockchain, and its copies are distributed to the entire network of donors. (Explained in detail in the video) Next, miners, use their computers to solve mathematical problems and verify if the agreement conditions are valid. Once the majority confirms the validation of the contract, donors can transfer all their money to the smart contract. And once the project is fully funded, the smart contract self-executes and all the funds are transferred to the creator’s account. However, if the project fails to gather the required amount, the funds will be automatically transferred to all the donor’s accounts. (Explained in detail in the video) Security: Smart contracts are stored inside a blockchain using encryption protective codes, and hence nobody can alter these agreements. Once a smart contract is created, it remains as it is. Also, because each record on the blockchain is connected to the previous record, hackers would have to tamper with the entire chain to alter a single record. Because it is controlled by blockchain, this means that a copy of the agreement is distributed as a ledger to all the donors. This means that if someone tries to tamper with the agreement, all the other donors would know about it, and that person’s attempt would be declared invalid. (Explained in detail in the video) Because of these properties, smart contracts have slowly started gaining entry into various sectors. Some examples include: (Explained in detail in the video) • The gaming industry, • IBM (the computer giant) and Sonoco (the protective packaging giant) also use smart contracts to safely transport and deliver temperature-controlled life-saving medicines. • Insurance companies • Banks • Postal companies can use it for payments on delivery. The most famous one employing smart contracts is the digital currency “Ethereum.” Here’s a real-world example where Ethereum smart contracts are in action. (Explained in detail in the video) AXA, the French insurance giant, uses Ethereum-powered smart contracts to provide flight insurance to its customers. And the condition is a delay of two hours or more in a regular flight schedule. Based on the code, the smart contract holds AXA's money until that certain condition of 2 hours flight delay is met. So, as soon as global air traffic databases show flight delays of 2 hours or more the smart contract self-executes. And you are compensated. (Explained in detail in the video) This brings us to end of the video. Don’t forget to hit that subscribe button and vote a thumbs-up for this video. And stay tuned! Because there’s more to come on cryptocurrencies. (Please check the video for details). ========================================================================== 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 purchasing process is very important to a business, as manufacturers can’t make goods without raw materials and retailers can’t sell goods without first buying them. Even service providers must acquire goods or services to provide services (e.g., accounting firms need to purchase tax preparation software and law firms purchase software to research legal cases). Before auditing the purchasing process, the auditor needs to get an overview of the activities that make up a company’s purchasing process. The purchasing process consists of the following steps: 1. Requisitioning goods or services 2. Purchasing goods or services 3. Receiving goods or services 4. Processing invoices 5. Making disbursements 6. Updating records 0:00 Introduction 0:22 Requisitioning goods or services 1:19 Purchasing goods or services 4:09 Receiving goods or services 5:37 Processing invoices 7:57 Making disbursements 8:40 Updating records — 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 accessible to all people. — 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 * http://eepurl.com/dIaa5z — 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/

What is Bitcoin Mining? – Easy explanation. (Basics) This is a video on “What is Bitcoin Mining”. Chapters: 00:00 – Introduction 00:12 – Where do Bitcoins come from or enter the market? 00:17 -What is Bitcoin mining? 00:23 – How Bitcoin mining is done? 00:48 – What are the key concepts of bitcoin? 00:54 – What is Block? 01:04 -What is Hash? 01:35 -What is Proof of work? 01:50 -What is Nonce Value? 02:03 – How does the whole mining process work? 03:26 -What is Miners Pool? 03:50 – Why miners mine Bitcoin? 03:56 – What are the rewards of Bitcoin mining? 04:22 – Which are the top Mining farms? 04:39 – Is Bitcoin mining profitable? 04:49 – How much Bitcoin rewards are given to miners? 04:39 – Is Bitcoin mining profitable? 05:15 – Conclusion In this video tutorial, we will discuss how Bitcoins enter the market, what is Bitcoin mining and how is it done, its key concepts, miners Pool, rewards of mining, the top Mining farms and are they profitable, and Bitcoin rewards, etc. (Explained in detail in the video) Do you know? Bitcoin is the world’s first publicly distributed currency. A bitcoin enters the market through a system called mining. Bitcoin mining is the process of adding new bitcoins to the system by validating bitcoin transactions. Individuals or organizations called miners use specialized computers and softwares to solve extremely complex mathematical puzzles. And the first miner to solve the equation gets rewarded with some bitcoins. (Explained in detail in the video) Key concepts 1. Block – A block is the smallest unit in blockchain that stores all the transaction data in the blockchain network. 2. Hash – A hash function is basically a method by which the transaction details you input are converted into an output of fixed length consisting of letters and numbers. Bitcoin uses a specific algorithm to convert your transactions into a fixed-length digital output called a hash. Each time the same input is entered into the hashing function, it produces the same output as earlier The miners verifying the transactions on the bitcoin network are actually trying to guess the hash value. (Explained in detail in the video) 3. To arrive at this hash value, miners need to arrive at the nonce value- a complex mathematical puzzle that, when solved, gives the targeted hash and validates the entire transaction. (Explained with example in the video) The difficulty level of mining increases each time 2016 blocks are added to the network. Mining is a very complex process & the hardware/computers used are usually very expensive and use a lot of resources. Due to this Miners have come up with a solution called miners pool, where a group of miners with their advanced computers get together to mine bitcoins collectively by sharing their resources. Rewards: (Explained in detail in the video) At present, a successful miner is rewarded with 6.25 bitcoins, making it close to 120 thousand US dollars. That’s why a lot of individuals and organizations devote their entire time to bitcoin mining. However, when you consider the highly expensive electricity costs and the expenses incurred in building a farm full of supercomputers, the profit margins are not always that high. (Explained in detail in the video) In 2009, miners were rewarded with 50 bitcoins. But as the years rolled on, the rewards were curtailed to half with every passing four years. So, in 2012- 25 bitcoins were rewarded. In 2016- The reward went to 12.5 bitcoins. And from 2020, the rewards were further reduced to 6.25 bitcoins. Don’t forget to subscribe and vote a thumbs-up for our videos. And stay tuned for our next video on the cryptocurrency series. Please check the video for details. #miners #mining #wallstreetmojo #cryptocurrency #bitcoin ========================================================================== 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

This is a video on “What is Blockchain”. Chapters: 00:00 – Introduction 00:33 – What is a Blockchain? 00:42 – Benefit of blockchain? 01:45 – What makes a block? 01:53 – What is a Hash?? 03:00 – What is encryption? 03:53 -What is decentralization? 04:23 -What is Node? 05:26 -What is the benefit of a decentralized system? 06:12 – How a blockchain transaction goes through? 06:32 -What are miners? 06:32 -What is proof of work? 06:52 – What is the mining process? 07:17 – Conclusion In this video tutorial, we will discuss what is blockchain, its benefits, what is block, hash, encryption, node, security of blockchain, decentralization and its benefits, Nide, miners and proof of work and mining process, etc. (Explained in detail in the video) A blockchain is like a storehouse that stores all the transaction data and information electronically in the form of blocks. The idea behind blockchain is to record and distribute all the digital transactions and not allow anyone to edit them. So, a blockchain network is nothing but made of these millions of blocks that keep records of each and every transaction within it. Each block contains a set of data that typically includes: 1. The transaction details like who sent the money to whom. 2. Hash- You can compare a hash with a biometrics identification like a fingerprint that generates a unique set of numbers when we create our ID proofs. 3. And the last thing that a block store is the previous block’s hash. (Explained in detail in the video) This means that the transaction details of any preceding block are stored in the new block, and so on. This is because there is a limit to the amount of data a single block can store. Because of this, the process of linking one block to another goes and on, forming a chain-like network of blocks linked together. This entire process of linking makes storing and tracking information very easy and secure. (Explained in detail in the video) Encryption: Encryption ensures that the records on the blockchain are stored in the form of complex mathematical codes or numbers. Consider it like a unique identification number that you get when you create your Tax Identification Number( TIN ) or any other ID proof. This means that only the owner of a record knows all his data. And only he can use it to make transactions using a public-private key partnership. A public key is like the email id that stores your digital address, and everybody on the blockchain network uses it to identify you. And a private key is more like your password that only you know about and allows you to make transactions and protect your data. (Explained in detail in the video) Blockchain eliminates the slightest possibility of fraud by using its third security parameter called decentralization. Blockchain transactions don’t need any third-party intermediaries like a bank for your transactions to go ahead. A decentralized system means that there is no central place or authority that controls, tracks, and keeps records of your transaction. Instead, a copy of your transaction details is distributed to the entire network of people or computers within the blockchain network. These computers are called nodes. Every node has a copy of each and every transaction taking place within the blockchain, and each time a copy is updated, the nodes update their records. Making it impossible for a single person to alter or tamper with any records. (Explained in detail in the video) How a blockchain transaction goes through: In the 1st step, you enter the transaction details like the receiver’s wallet address and the number of bitcoins you want to send to them. Next, a copy of your transaction details encrypted as a hash gets distributed to the entire network of people in the blockchain. Now, miners try to figure out the right hash value by solving some really complex mathematical equations called proof of work. And this entire process of validating a transaction and adding a new block to the blockchain is called mining. Finally, the new block is added to a chain of many more blocks existing within the network. This chain of blocks is nothing but a long history of every transaction that has already taken place in the blockchain. (Explained in detail in the video) This brings us to the end of the video. Don’t forget to hit that subscribe button and vote a thumbs-up for this video. 🙂 And stay tuned to our channel for more such videos. #blockchain #mining #wallstreetmojo #cryptocurrency #hash #node ========================================================================== 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

Impairment impacts entities in all industries and can occur frequently. Since determining whether an impairment loss exists differs depending on the type of asset and often involves significant judgment, an understanding of the guidance is critical! This CPE-eligible eLearning will explore the IFRS accounting requirements under IAS 36, specifically how to measure the recoverable amount and how to recognize an impairment loss. Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/280/impairment-of-assets-part-two-ias-36 Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalog Subscribe to GAAP Dynamics to see more videos like this!

Many companies recognize inventories in their financial statements. Inventory is a portion of their business assets that will be (or already are) ready for sale as part of normal operations. In this module, you will learn about: What is included in inventory cost, including how to calculate total cost The measurement principles applied to inventory The initial and subsequent recognition principles applied to inventory Disclosure requirements of IAS 2 Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/278/inventories-overview-of-ias-2 Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalog Subscribe to GAAP Dynamics to see more videos like this!

Share-based payment awards can be issued by an entity to a variety of individuals for a variety of reasons. These awards can be issued to employees, members of the board of directors, or even vendors. But are they compensatory? What is the difference in accounting between equity-classified and liability-classified awards? And how are such awards valued? Our online share-based payment training series covering ASC 718 Stock Compensation answers these questions and more! In the first CPE-eligible, eLearning course (2.0 CPE), we explore the scope of ASC 718 and provide guidance so that you can determine whether the award is within the scope of the standard and, if it is, whether it is equity-classified or liability-classified. And classification matters because the accounting is vastly different! We also review basic measurement techniques and key inputs when determining the fair value of those awards. In another online course, we look at what happens after the award's initial recognition at the grant date, including attribution of the award to compensation expense, the accounting for modifications, and disclosures associated with share-based payments to employees. So, join us as we take a closer look at the accounting for share-based payment awards that fall within the scope of ASC 718. Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/16/stock-compensation-scope-classification-and-measurement Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalog Subscribe to GAAP Dynamics to see more videos like this!

This is the second course in our two-part series exploring the accounting for share-based payment awards in accordance with ASC 718 Stock Compensation. In this CPE-eligible, eLearning course (2.0 CPE), you learn about the key terms and dates in a common share-based payment award and discover the various types of vesting conditions included in these contracts, including the impact of each on the recognition of compensation expense for both liability- and equity-classified awards. You also learn how to properly account for modifications to share-based payment awards. With tons of examples and practical application considerations, you’ll be ready to apply your new skills in no time! Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/257/stock-compensation-attribution-and-modifications Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalog Subscribe to GAAP Dynamics to see more videos like this!

Often overlooked for the “sexier” steps within the 5-step model of ASC 606 Revenue from Contracts with Customers, identifying the contract with the customer in step 1 is super important. Why? Well, if you don’t have a contract, you can’t recognize revenue! And whether a contract exists is dependent on meeting certain criteria, which we cover in detail during this CPE-compliant, eLearning course (0.5 CPE) using plenty of class examples. In addition, during this online course, we cover the relevant accounting if the criteria in step 1 are not met at contract inception, as well as the requirement to combine contracts entered at or around the same time. This is the second course in our 7-part revenue recognition training series. Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/130/revenue-identify-the-contract-with-the-customer-step-1-of-asc-606 Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalog Subscribe to GAAP Dynamics to see more videos like this!

Now that you’ve been introduced to the 5-step model within ASC 606, Revenue from Contracts with Customers, it’s time to take your learning to the next level! In this CPE-eligible, eLearning course (0.5 CPE), we dive into step 2, identifying performance obligations. In step 2, an entity must first identify any promised goods and services within a contract and then determine which of those goods and services are separate performance obligations. Why is identifying performance obligations so important? Because it determines when and how much revenue should be recognized by the entity for each performance obligation! In this online course, we cover the process of identifying a contract’s performance obligations, including important considerations and application guidance within ASC 606 related to step 2. This is the third course in our 7-part revenue recognition training series. Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/231/revenue-identify-performance-obligations-step-2-of-asc-606 Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalog Subscribe to GAAP Dynamics to see more videos like this!