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Resources for Accountants

Gamblers Fallacy: Easy explanation. [Video]

In this video, you will learn about Gambler’s fallacy, its reason, and how to avoid falling for it. #gamblersfallacy #casino #wallstreetmojo #investing #trading Chapters: 00:00 – Introduction 01:33 – What is the gambler's fallacy? 02:05 – Why does gambler's fallacy happen? 02:36 – What is the coin toss example of gambler's fallacy?. 03:58 – What are the Real-life examples of gambler's fallacy? 05:07 – How to avoid the gambler’s fallacy? 05:21 – Conclusion (Explained in detail in the video) Say that you are in a casino and see that the ball has landed on a red number 10 times in a row. You bet money on the ball to land on a red number, but the ball lands on black. You bet money on red again, but the ball again lands on black. (Explained in detail in the video) This cycle goes on 27 times, after which it finally lands on red, but you have already lost all your money. So what went wrong? You fell for the "Gambler’s Fallacy." (Explained in detail in the video) What is the gambler’s fallacy? The gambler’s fallacy is a false belief that something that happened in the past will influence something that happens in the present, even if the two events are independent. This concept is also known as the "Monte Carlo fallacy." (Explained in detail in the video) Why does it happen? The human mind is very tricky and smart. It tries to figure out patterns in the occurrence of events and predict what will happen next. Sometimes this might work, but sometimes events may be so random that we can deduce no good patterns from them. Instead of trying to decide the outcome based on past events, you should rather play the odds. (Explained in detail in the video) How to avoid the gambler’s fallacy? Knowing about it first is the best way to avoid falling for this fallacy. Once you know what the fallacy is and why it happens, the next time you make any decision, you should ask yourself if you are doing that because of Gambler’s fallacy, or are you doing it based plainly on the odds? (Explained in detail in the video) So, this was all about the gambler’s fallacy, and we hope you learn a lot from this video. So, show it to us by liking, commenting, and sharing this video. Also, don’t forget to subscribe to the channel if you don’t want to miss out on such videos we post regularly. ========================================================================== 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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Resources for Accountants

Inherent Risk and Control Risk for Purchasing [Video]

After identifying the significant accounts and relevant assertions, the auditor should assess the risk of material misstatement.The auditor thus needs to:• Assess inherent risk for accounts payable, as well as for purchase transactions and cash disbursement transactions• Assess control risk for accounts payable, as well as for purchase transactions and cash disbursement transactionsOnce the auditor knows both the inherent risk and the control risk for accounts payable and purchasing and cash disbursement transactions, the auditor knows the risk of material misstatement (RMM).A high RMM means the auditors will need to set detection risk lower to achieve an acceptable level of audit risk.0:00 Introduction0:36 Inherent risk2:42 Control risk5:38 Risk of material misstatement7:00 RMM and detection risk— 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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Resources for Accountants

Follow-on public offering: Easy explanation [Video]

This video will teach FPO, their types, and why companies have FPOs. #ipo #fpo #wallstreetmojo #shares #stocks Chapters: 00:00 – Introduction 00:40 – What is an FPO? 01:24 – Examples of FPOs 01:54 – Types of FPOs 01:59 – Dilutive FPO 02:26 – Non-Dilutive FPO 02:48 – Reasons for FPO 03:00 – Reason for FPO: To clear debt 03:31 – Reason for FPO: To reduce control of debtors 03:54 – Reason for FPO: To raise more capital 04:12 – Conclusion (Explained in detail in the video) When a company wants to go public and raise capital from the general public, it has an IPO. But, if the company wants to raise more capital after the IPO, it would have an FPO. (Explained in detail in the video) FPO stands for Follow-On Public Offering. IPO and FPO both happen in the primary market while the stock market makes the secondary market. (Explained in detail in the video) Examples of some FPOs In 2018, PolarityTE, which has the ticker COOL on Nasdaq, issued an FPO for about $55 million of equity shares. In 2019, a Chinese company, Huya, completed an FPO of $343 million. (Explained in detail in the video) Types of FPOs There are mainly two types of FPOs based on what kind of shares the company offers, Dilutive FPO and Non-Dilutive FPO. If a company brings in new shares and offers them in the FPO, it is a "Dilutive FPO." On the other hand, if the company is offering already existing shares in the FPO, it is a "Non-Dilutive FPO." (Explained in detail in the video) Reasons for FPO A company would do that for a couple of reasons. To Clear Debt It is very common for companies to take debt to grow, but sometimes the debt may become a burden for them. Hence, companies may raise capital through FPO to pay their debt and reduce liabilities. (Explained in detail in the video) To Reduce Control of Debtors When a company takes debt, the debtors may restrict the company and limit their risk-taking activities. Hence, companies raise capital through FPO, pay back the debt, and regain control over the company's affairs to reduce the debtor's control. (Explained in detail in the video) To Raise More Capital Companies raise capital through IPOs for future expansions and business plans. At times, the capital raised in the IPO may not be enough for them, and they need to have an FPO to raise more capital. So, this was all about "Follow-On Public Offering," and we hope you liked the video. We come up with such videos regularly. If you don't want to miss out on those, subscribe to the channel. Also, don’t forget to like the video and comment on which topics you would like to have a video on. ========================================================================== 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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Resources for Accountants

Transfers of Financial Assets [Video]

So, you’ve transferred a financial asset…or at least you thought you did…? ASC 860¸ Transfers and Servicing requires certain criterion to be met for a transfer to be accounted for as a sale. If these criterion are not met, then the “transfer” is a secured borrowing. The concept of “control” is key to determining how to account for a transfer under ASC 860. This course discusses common forms of transfers, how to identify them, concepts of control, and the accounting treatment.Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/316/transfers-of-financial-assetsLearn more about GAAP Dynamics: https://www.gaapdynamics.com/Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalogSubscribe to GAAP Dynamics to see more videos like this!

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Resources for Accountants

How to Increase Profits and Sales in Your Business | How to Make Your Business More Profitable [Video]

Discover How to Increase Profits and Sales in Your Business. Go to https://www.bizmove.com to get a free business plan template, plus dozens of tools for managing and starting a business, featuring dozens of templates, books, worksheets, tools, software, checklists, videos, manuals, and spreadsheets. All completely free, no strings attached. Also see here how I managed to save hundreds on car insurance (my dirty little trick): https://www.bizmove.com/auto-car-insurance.

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Resources for Accountants

Robert Materazzi of Lukka discussing Digital Assets, how his Firm helps the Ecosystem Grow [Video]

Subscribe to Beryl Elites YouTube channel for future videos and updates ! Rober Materazzi, CEO of Lukka interviewed by Clair McCall of The Beryl Consulting Group.Some salient points from the interview: “Lucca is a institutional software and data company that supports any business that has crypto on their balance sheet.” “We primarily support crypto funds through fund administrators or fund auditors who are customers of our software and or our data products depending on what audit processes they’re working on … we support over 400 active crypto funds .. we’re the only provider that that actually built our software with AICPA sock controls.” “We service a number of big traditional corporations as well .. and we’re seeing a ton of the traditional financial institutions launch various different types of businesses to support crypto, none of that seems to have slowed at all despite the market conditions .. we’ve been working with the crypto native companies, crypto exchange, OTC desks, market makers.” “Most of our risk is the operational and the technology risk, which is um absolutely paramount that we get right so that our customers can rely on our services and the calculations and everything that we do with our products.”Beryl Elites Global Investments & Innovations Conferences encompass traditional institutional finance, alternative investments, fintech, alternative data, digital assets, and geopolitics. It features high-octane discussions, networking and entertainment in congenial ambiance. Visit the Beryl Elites Knowledge Center at berylelites.com/bkc for more primary sources and Beryl-ROI Curated Industry News at https://berylelites.com/beryl-roi-news Copyright 2022 The Beryl Consulting Group. All Rights Reserved.

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Resources for Accountants

Dotcom bubble -Simple Explanation [Video]

#dotcom #bubbleburst #wallstreetmojo #markets #stockmarketsThis video is about Dotcom bubble burst in the US financial markets in year 2000. Why did this happen, and how did this happen? You’ll find all answers in this video.Chapters: 00:00 – Introduction 00:47 – What is dotcom bubble?01:30 – Why did the bubble burst?01:50 – What caused the dotcom bubble, what was the internet startup craze before Dotcom burst of 2000?02:35 – What do we mean by Herd mentality?03:10 – What speech did Alan Greenspan gave that was a reason for dotcom burst?03:43 – What was Taxpayer relief act, 1997?04:19 – What happened during bubble crash?04:44 – What happened after year 2000 bubble burst?05:37 – How can we avoid having similar situation like Dotcom bubble burst of Year 2000?07:07 – Conclusion (Explained in detail in the video)Dotcom bubble crash in year 2000 was so brutal that the Nasdaq Composite Index went from $5100 to $1100, wiping out all the gains it had made over the years.(Explained in detail in the video)What was the dotcom bubble?By the mid ‘90s, many internet companies came up, and things looked pretty good.The valuation of these internet companies had shot up by 400%.the Nasdaq Composite Index price went from a mere $320 to $5100 in just a decade.(Explained in detail in the video)But then something happened in 2001 that all these companies, whose futures were looking bright, had their share prices crash by almost 80%.Why did the bubble burst?So with the prices going up and up year after year, a sort of bubble was created, and the internet companies were at the center of it.(Explained in detail in the video)Eventually, the overly inflated prices had to come all the way down, and the bubble had to burst.(Explained in detail in the video)How it happened:1. Starting up craze (Explained in detail in the video)2. Herd mentality: People following others without giving it a proper thought.(Explained in detail in the video)3. Alan Greenspan the then chairman of the US Federal Reserve, gave a speech that this internet hype was creating a bubble 4. Taxpayer relief act, 1997(Explained in detail in the video)5. The crashIt took ten years for the price of the Nasdaq Composite Index to go from $300 to $5100, but it only took two years to crash from $5000 to $1100.(Explained in detail in the video)6. AftermathDuring the bull trend, the valuation of almost every company was just soaring through the roof.After the crash, many companies went bust.The dotcom crash even caused a mild recession in the US at that time.(Explained in detail in the video)How can you avoid getting crashed?There are two things that you can do to save yourself from such a bloodbath:1. Accept negative outcomes2. Don’t fall for the hypeSo, this was all about market crashes and the dotcom bubble in particular.(Explained in detail in the video)What are your views on our video? Do share in the comment section below!Don’t forget to subscribe and vote a thumbs-up for our videos, it keeps us motivated to keep making such 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

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Resources for Accountants

Scope and Defined Contribution Plans under IAS 19 [Video]

Are you offered some type of benefit by your employer (paid vacation days, bonuses, retirement, etc.)? If so, do you ever wonder how the different benefits offered are accounted for? IAS 19 governs the accounting for all types of employee benefits under IFRS. In this CPE-eligible eLearning course (1.0 CPE), you’ll learn what’s in scope of IAS 19, and the various accounting requirements for certain types of employee benefits, including short-term, termination, and defined contribution plans. Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/315/employee-benefits-scope-and-defined-contribution-plans-under-ias-19 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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Tour of the Revolution [Video]

Take a tour of the Revolution! The Revolution is our online learning platform that brings together engaging, relevant content and motivated learners in an online environment. This platform helps us deliver high-quality digital learning at your moment of need. Our online, self-study courses include: Plain-English explanations of complex accounting rules Entertaining videos that keep you engaged Examples and disclosures illustrating "real-life" application Plenty of participant interactions – no multitasking with our courses! Our courses are continually updated and new courses are constantly being added, so check back often! If you don't see what you're looking for, let us know. We take requests! Have course material that you think others might benefit from? Contact us for course authoring opportunities! Check it out here: https://revolution.gaapdynamics.com/catalog Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/catalog Subscribe to GAAP Dynamics to see more videos like these!

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Cathie Wood exchanges news on the actions of Shopify and Coinbase. Should investors do the same? [Video]

Cathie Wood recently doubled on Shopify while selling part of his participation in Coinbase.#CathieWood #TradesNews #ShopifyCoinbase #StocksMacroeconomic uncertainty has become a sacred wind for many businesses, but global shopify and coinbase really feel the bite of the bear market. After growing at turbocharged speed throughout Pandemic, the two companies have seen the momentum failed because high inflation has put pressure on discretionary consumer expenditure. To manage costs better, Coinbase announced in mid -June that they would cut 18% of their workforce, and Shopify followed the announcement yesterday that they would reduce 10% of their own workforce. To further complicate problems, US Securities and Exchange Exchange were reported Investigate Coinbase on the grounds that they might have allowed investors to trade unregistered securities, causing shares to fall 20% in one day. The announcement has led to a significant decline in stock prices, accelerating the impact of disappointing financial results and weak guidelines. Coinbase and Shopify are currently 84% and 80% of the highest respectively. With regard to that background, CEO ARK Invest Cathie Wood sold 1.3 million coinbase shares on Tuesday, and bought 1.8 million shares of Shopify. Should investors follow his footsteps? Case for ShopifyShopify simplifies trade. The software is uniting physical and digital display windows such as brick-and-mortar shops, online markets, and directly websites to consumers, which allow businesses to manage sales from one platform. Shopify also provides a number of added value services such as payment processing, discount delivery, and financing. In general, the DTC business model offers a greater level of control business over customer experience, allows them to build lasting relationships that produce repeated purchases. Shopify focus on DTC Commerce distinguishes it from marketplace operators such as Amazon, and extensive integration and service portfolios have made Shopify a leading E-Commerce software vendor measured by user satisfaction and market presence. Unfortunately, the soaring inflation is very burdensome to this business, and the company failed again in guidance in the second quarter. Revenue grew only 16% to $ 1.3 billion and Shopify posted a non-GAAP loss of $ 0.03 per share diluted, down from $ 0.22 positive per share diluted in the same quarter last year. Many investors are understood disappointed. Shopify has lost the momentum taken during Pandemi, and the situation may be worse because inflation continues to burden consumer expenses. However,