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The Big Mac Index: McEconomics Explained [Video]

The Big Mac Index: McEconomics Explained

In this video, you will learn about the Big Mac index, its formula, and how it works.

#bigmacindex #ppp #wallstreetmojo #cpi #currencyexchange

Chapters:
00:15 – Introduction
00:33 – What is the Big Mac index?
01:45 – Formula
02:40 – Big Mac index vs CPI
03:40 – Conclusion

What is the Big Mac index?
The Big Mac index, also known as burgernomics, is a currency comparison tool that uses the cost of a McDonald’s Big Mac burger to measure the purchasing power parity between countries.

The Economist magazine introduced it in 1986 as a fun and interactive way to measure currency imbalances.

The index uses the US Dollar as its base currency and compares the price of a Big Mac burger in other countries to the relative cost of the burger in the US.

(Explained in detail in the video)

Formula
Calculating the Big Mac index involves comparing the price of a Big Mac in two countries, A and B, and dividing it by the exchange rate of the base currency.

Big Mac Index vs CPI
The CPI is criticized for its susceptibility to manipulation and political influence. In contrast, the Big Mac index is seen as a more comprehensive and reliable tool for measuring the cost of living.

The price of a Big Mac reflects various factors, including fixed costs, making it less prone to manipulation.

Studies suggest that the Big Mac index is often a more accurate measure of PPP. Thus, it may help understand the cost of living and PPP in different countries.
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Resources for Accountants

FREE Excel Course (Step by Step) [Video]

In this Free Excel course, an industry expert provides a practical understanding of the fundamental aspects related to Excel. First, the video discusses basic Excel functions. Then, it moves on to explain cell referencing and named ranges, name manager, and array formula. Lastly, the course covers how to work with charts in Excel. The detailed coverage of the basic concepts makes it an ideal course for beginners who wish to develop knowledge of Excel. Timestamps: 0:00:01-0:00:49 Introduction 0:00:49-0:12:13 Basic Excel Functions 0:12:13-0:27:29 Cell Referencing and Named Ranges 0:27:09-0:36:05 Name Manager 0:36:05-0:51:36 Array Formula 0:51:36-1:15:21 Working with Charts Get all important Excel functions here: https://www.wallstreetmojo.com/excel-functions/?utm_source=YouTube&utm_medium=Social&utm_campaign=Description

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Resources for Accountants

IFRS 16 Lessor Accounting Example 2 | Finance Lease [Video]

When a lessor accounts for a finance lease under IFRS 16, the lessor must derecognize the asset from its statement of financial position and record a lease receivable upon commencement of the lease. If the lessor is a manufacturer or dealer, then the lessor must also record sales revenue and cost of goods sold upon commencement of the lease. Both the sales revenue and cost of goods sold must be reduced by the present value of the unguaranteed residual value.The lessor will then recognize interest revenue throughout the lease term. At the end of the lease, the lessor will restore the asset to its statement of financial position. If the actual residual value turns out to be less than the unguaranteed residual value, the lessor records a loss for the difference.— Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin

Categories
Resources for Accountants

IFRS 16 Lessor Accounting Example 1 | Finance Lease [Video]

When a lessor accounts for a finance lease under IFRS 16, the lessor must derecognize the asset from its statement of financial position and record a lease receivable upon commencement of the lease. If the lessor is a manufacturer or dealer, then the lessor must also record sales revenue and cost of goods sold upon commencement of the lease. The lessor will then recognize interest revenue throughout the lease term. At the end of the lease, the lessor will restore the asset to its statement of financial position. If the actual residual value turns out to be less than the guaranteed residual value, the lessor will receive cash from the lessee to cover the shortfall. — Edspira is the creation of Michael McLaughlin, 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* http://eepurl.com/dIaa5z— 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/ — CONNECT WITH EDSPIRA* Website: https://www.edspira.com* Blog: https://www.edspira.com/blog/ * Facebook page: https://www.facebook.com/Edspira* Facebook group: https://www.facebook.com/groups/561316587899818//* Reddit: https://www.reddit.com/r/edspira* LinkedIn: https://www.linkedin.com/company/edspira— CONNECT WITH MICHAEL* Website: http://www.MichaelMcLaughlin.com* LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin * Twitter: https://www.twitter.com/Prof_McLaughlin* Facebook: https://www.facebook.com/prof.michael.mclaughlin* Snapchat: https://www.snapchat.com/add/prof_mclaughlin*Twitch: https://twitch.tv/prof_mclaughlin * Instagram: https://www.instagram.com/prof_mclaughlin*TikTok: https://www.tiktok.com/@prof_mclaughlin