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IFRS 16 Leases requires lessees to record nearly all leases on their balance sheets. But how? In this CPE-eligible (1.0 CPE), eLearning course you’ll learn how to record them on the balance sheet, both initially and throughout the lease arrangement. The course concludes with considerations you need to understand if there are changes to the lease arrangement after the commencement date. Whether you’re responsible for financial reporting or auditing financial statements under IFRS, this course is a must for the international accountant! Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/299/leases-lessee-accounting-and-application-issues 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!

The classes typically required for an accounting major can be put into 3 groups: 1. Required accounting courses 2. Required non-accounting courses 3. Accounting electives Required accounting courses usually include: • Financial Accounting • Managerial Accounting • Intermediate Accounting • Tax • Audit • Accounting Information Systems Required non-accounting courses usually include: • Corporate Finance • Micro- and/or Macroeconomics • A management course • A marketing course • A math course • A stats course Accounting electives usually include: • Advanced Accounting • Advanced Tax • Advanced Auditing • Nonprofit/Governmental Accounting • Financial Statement Analysis Some schools also offer additional accounting electives, such as: • Accounting Ethics • Law for Accountants • Sustainability Reporting • Fraud Examination / Forensic Accounting • Data Analytics for Accounting 0:00 Introduction 0:10 Required accounting courses 0:20 Financial accounting 0:33 Intermediate accounting 0:43 Managerial accounting 0:51 Financial vs. Managerial Accounting 1:59 Tax 2:18 Auditing 2:38 Accounting information systems 3:03 Required non-accounting courses 3:17 Corporate finance 3:34 Micro and macroeconomics 3:44 Management 4:06 Choosing which management course 4:21 Marketing 4:34 Math and statistics 4:54 Accounting electives 5:07 Advanced accounting 5:22 Advanced tax 5:31 Advanced auditing 5:41 Nonprofit/governmental accounting 6:03 Financial statement analysis 6:20 Other accounting electives 6:30 Special topics 6:42 Accounting research 7:02 Which electives to take? — 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

In this video tutorial, we will discuss the basics of creditworthiness, how to assess the creditworthiness of a Sovereign State, how to assess the creditworthiness of Securities, why are Credit rating agencies important, etc. This is Part 2 of the video on Creditworthiness #Creditworthiness #CreditRating #wallstreetmojo #Securityrating #SovereignStatesrating #S&P #Fitch #moody Chapters: 00:00 – Introduction 00:15 – What is creditworthiness? 00:32 -Whom does creditworthiness apply to? 00:37 – What are the criteria of creditworthiness? 00:45 – Which are the biggest Credit rating agencies? 01:05 – How to assess the creditworthiness of a Sovereign State? 01:53 – What does a low credit rating means for a Sovereign State? 02:10 – How do Top rating agencies rate a Sovereign State? 02:17 – How to assess the creditworthiness of Securities? 02:20 – What are securities? 03:07 – Why are Credit rating agencies required or important? 03:50 – Conclusion (Explained in detail in the video) In part 1, we covered the meaning of creditworthiness and the evaluation of the creditworthiness of individuals. In this Part 2 of the Creditworthiness video, we will cover the creditworthiness of Sovereign States & securities! (Explained in detail in the video) Creditworthiness for the Sovereign States A state cannot exert its financial or political risk rating to invest in its debt instruments. Sovereign states will receive a Sovereign Credit Rating, an independent evaluation. A third-party credit rating agency will give a country a rating based on how risky it is in terms of its economy and government. A country's creditworthiness will go down if it has a big budget deficit. A low credit rating means that they are not a good credit risk, which could make it hard for them to get money from the global market and other bodies. (Explained in detail in the video) Creditworthiness of Securities Securities are just financial instruments to raise funds in capital markets. There are three kinds of securities: equity, debt, and Hybrid. Securities are put through the same test that lenders use to decide whether or not to lend money to a company. The securities are also evaluated with credit ratings. The financial success and strength of a security can be judged by its credit rating. Following the 2008 Global Financial Crisis, credit agencies were chastised for assigning high credit ratings to loans that ultimately proved to be high-risk investments. They failed to identify dangers that would have alerted investors to avoid certain forms of debt, such as mortgage-backed securities. (Explained in detail in the video) But now the systems are said to be proofed and the agencies have improved their processes. What are your views on the creditworthiness & credit rating agencies processes! Do share in the comment section below! Don’t forget to subscribe and vote a thumbs-up for our videos. ========================================================================== 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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Are you a CPA who’s cut from a different cloth than your peers? Are you an artist or an educator looking to venture down a new path? Perhaps you love interacting with people and sharing your knowledge just as much as (if not more than!) you love your daily accounting and auditing tasks. Maybe you’re looking for a new way to express your creativity or expand your teaching skills. Being an accountant doesn’t just mean preparing journal entries and closing books every day, and there are always new opportunities to fuel your creativity and expand your skills. GAAP Dynamics gets it. We’re searching for CPAS who are technical experts with an entrepreneurial, highly motivated energy — and excited to be an integral member of a fast-paced, growing company. Are you a creator? We want you too, as we dive head-first into the exciting world of eLearning. Why waste your time as a Dilbert? You can let your skills and personality shine at GAAP Dynamics! Ready to make a change? Let’s talk: https://www.gaapdynamics.com/about/careers/ Visit GAAP Dynamics: https://www.gaapdynamics.com/ View our online courses: https://revolution.gaapdynamics.com/

Even professionals mess up sometimes! During the recent reshoot of our career video, we made some mistakes and slip-ups, here for you to enjoy! Here at GAAP Dynamics, accounting and eLearning doesn’t have to be all about spreadsheets and powerpoints. We believe that working hard is just as important as playing hard. Take a peek into what happens behind the scenes at GAAP D! Careers at GAAP Dynamics: https://www.youtube.com/watch?v=lnOqkTM07Rs Visit GAAP Dynamics: https://www.gaapdynamics.com/ View our online courses: https://revolution.gaapdynamics.com/ Music Credit: Lesfm from Pixabay

This is a video on Creditworthiness: Introduction, Agencies and Criteria. In this video tutorial, we will discuss the basics of creditworthiness, credit Rating, whom creditworthiness applies to, its criteria, top credit rating agencies, how the creditworthiness of individuals & companies is measured, etc. #Creditworthiness #CreditRating #wallstreetmojo #Individualrating #companyrating #S&P #Fitch #moody Chapters: 00:00 – Introduction 00:27 – What is a Credit Rating? 00:58 – What is creditworthiness? 01:20 – Whom does creditworthiness apply to? 01:24 – What are the criteria of Creditworthiness? 01:34 – Which are the top credit rating agencies? 01:44 – How the creditworthiness of individuals is measured? 02:07 – What is the Character criteria of evaluating creditworthiness? 02:19 – What is the Capacity criteria for evaluating creditworthiness? 03:11 – What is the Capital criteria for evaluating creditworthiness? 03:42 – What is the Conditions criteria for evaluating creditworthiness? 04:08 – What is the Collateral criteria for evaluating creditworthiness? 04:27 – How the creditworthiness of a company is measured? 04:51 – Conclusion (Explained in detail in the video) Let’s say a person asks you for a small loan and promises to pay back in a week’s time. But he has not returned the money of a few others! I.e his creditworthiness is in question! You might still decide emotionally but for a bank, it would be a practical decision based on his creditworthiness. (Explained in detail in the video) Creditworthiness is a measure of judging the loan repayment history of borrowers to ascertain their worth as a debtor who should be extended a future credit or not. Creditworthiness applies to people, sovereign states, securities, and other entities. (Explained in detail in the video) The three biggest credit rating agencies for securities and sovereign states are Moody’s, Standard & Poor, and Fitch. (Explained in detail in the video) Creditworthiness for Individuals: Creditworthiness for individuals is evaluated based on several factors. Typically, lenders will take a qualitative and quantitative look at the 5 C’s of Credit when evaluating a borrower: #1 – Character (Explained in detail in the video) #2 – Capacity (Explained in detail in the video) #3 – Capital (Explained in detail in the video) #4 – Conditions (Explained in detail in the video) #5 – Collateral (Explained in detail in the video) The factors for judging a company’s creditworthiness are the same, but the analysis is done concerning the business. Lenders often look for security against loans or guarantees, especially in the case of high-risk borrowers. A high-risk borrower has a greater chance of defaulting. Besides, the bank or lenders also charge higher interest rates from such a group to compensate for the greater risk. (Explained in detail in the video) This brings us to the end of the first part of this video. In part 2 we will cover the creditworthiness of Sovereign States & securities! What are your views on the creditworthiness & credit rating agencies' processes! Do share in the comment section below! Don’t forget to subscribe and vote a thumbs-up for our videos. It keeps us movitvated to post great videos for you! ========================================================================== 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 the introductory video to our self-study eLearning course "Pensions and Postretirement Benefits." Check it out here: https://revolution.gaapdynamics.com/catalog Are you planning to live until 100 (We sure hope so!)? But do you wonder if your employer has the same assumption (probably not!)? But why does it matter? Well, this is one of the many assumptions your employer must consider when accounting for your retirement benefits. It is important to understand the many inputs and estimates used to value various retirement obligations, which have specific guidance depending on the type of benefit. Learn more about GAAP Dynamics: https://www.gaapdynamics.com/​ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/c…​ Subscribe to GAAP Dynamics to see more videos like these!

For many companies, property, plant, and equipment (PP&E) is often a significant line item in the balance sheet. Do you know what’s included in this line item? In this CPE-eligible, eLearning course (1.2 CPE) we discuss the types of assets and costs that should be capitalized as part of PP&E. You learn about the concept of depreciation, including the inputs needed and the various methodologies available to calculate depreciation in the financial statements. Finally, this online course covers the difference in accounting and reporting under U.S. GAAP for held-for-sale assets as compared to those assets that are held for use. Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/26/Property%252C%2520Plant%2520and%2520Equipment 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!

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You've researched how to account for a transaction, and it says to use the "interest method." Feeling like you've now got more questions than answers? While the interest method can seem like a monumental risk, we break it down for you in this CPE-eligible, eLearning course (0.5 CPE)! We walk through what the interest method is, as explained in ASC 835, where it is commonly used in U.S. GAAP, and how the method works. Hoping for a step-by-step example? You're in luck! We included two examples in this online course so you can truly understand how to calculate the effective rate and apply the interest method in practice. Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/59/interest-method-and-effective-interest-rates 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!

Once the auditor has a solid understanding of the company’s purchasing the process, the auditor can identify significant accounts in the purchasing process and relevant assertions. Significant accounts for the purchasing process can include accounts payable, accrued expenses, and many of the expenses that appear on the income statement. The auditor should also examine transactions that affect accounts payable, such as purchase transactions and cash disbursement transactions. With respect to accounts payable, management is asserting that: • Liabilities represent actual obligations of the company (existence) • All liabilities and related expenses or assets have been recorded (completeness) • All liabilities and related expenses or assets have been recorded in the correct period (cutoff) • All liabilities and related expenses or assets have been recorded for the correct amount (valuation) • Expenses have been recorded in the correct account (classification) Completeness is one of the most important assertions for accounts payable. Accounts payable are often associated with an expense, so failing to record accounts payable will not only reduce liabilities on the balance sheet but reduce expenses on the income statement. The auditor thus needs to search for unrecorded liabilities. The cutoff assertion is related to completeness, as management may try to reduce liabilities and expenses by postponing the recording of accounts payable until after the end of the period. Alternatively, management might close the books early (e.g., December 27 instead of December 31) to avoid recording a liability at the end of the period. The auditor should thus look carefully at accounts payable recorded immediately following the end of the period. Existence is not as important as completeness and cutoff, as management has little incentive to overstate accounts payable. The company’s employees, however, might create fictitious accounts payable or try to run personal expenses through accounts payable. For these reasons, the existence assertion is relevant, as some accounts payable might not be real obligations of the company. The valuation assertion is also relevant, as management has an incentive to understate liabilities. In some cases, the company’s vendors might overstate amounts due to them. Classification can be an issue for the expenses that are recognized in conjunction with accounts payable. Misclassification of expenses has been a factor in numerous high-profile frauds. WorldCom, for example, classified routine expenses as capital expenditures, which stretched the recognition of the expenses over a longer time horizon. 0:00 Introduction 0:28 Identify significant accounts (accounts payable) 1:31 Transactions affecting accounts payable 2:54 Identify the relevant assertions 3:09 The completeness assertion for accounts payable 4:13 The existence assertion for accounts payable 5:38 The cutoff assertion for accounts payable 6:30 The valuation assertion for accounts payable 6:52 The classification assertion for accounts payable 7:32 Assertions for purchase transactions and cash disbursement transactions — 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