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Are Retained Earnings REALLY "Retained"? 3 Things That Confused Me As An Accountant

The Financial Controller 27 views

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Can you explain fifo and weighted average for the periodic inventory system? Having some trouble with it
Comment from : @kylesheehan1811

Qualified vs unqualified terms frequently confuse people I assume someone named it wrongly when the accounting audit was established Qualify has a Latin root of qualis meaning of what sort, but mostly it means certified or having credited nowadays So the term qualified needs to be replaced by conditional or restricted etc Of course, unqualified by clean ir perfect etc Thanks
Comment from : @tspark1071

No u r not wrong Ben U r bang on I saw many people, accounting experts in my life They were confused with this So there are many people in the world with this kind of predicament, yet they dont feel comfortable to express it Thank you so much U r just awesome God bless you 🙌
Comment from : @funmasti29

Confused with bank account statement want in more details why does bank record opposite
Comment from : @NehaGuntukwar

nice microphone
Comment from : @michaelw2108

Thanks Bill I too used to have same confusion on bank statement but it is cleared now
Comment from : @saibaba270

Negative equity confuses me
Comment from : @GENIUSA1A

For me the third one been unclear, why unqualified report is clean report? brBank- for banker, I am lender, when I given money and bank should show credit balance(same we have for creditors) Since they owe mebrIf I am wrong correct me for bank
Comment from : @vijayrajashree4694

Same ting happened to me 😄
Comment from : @cefimssoas9830

Yeah the debits and credits in bank statements threw me off too lol
Comment from : @mauriciosueros599

Thank you so much for this , I’m middle age man with middle of learning accounting as a brand new accounting learner ! brI feel awful most of the time since it gets very confusing, I know probably everyone is super smart with this stuff here but little things help me , even I read everyone’s comments and learn things ! Thank you all for being such nice people 😊
Comment from : @savissm

I'm currently in my Undergrad, but in my first accounting class I remember my textbook saying the bank statement is from the banks perspective I can see how that could be confusing without the explanation
Comment from : @jonathantaylor5450

Good video
Comment from : @CPATuttle

Excellent video
Comment from : @yj9032

Accrruals are confusing!
Comment from : @franreyes6158

I like the mic and the green screen Modern and 👍
Comment from : @Tina-gp4rg

What happens to accumulated depreciation year on year ?
Comment from : @arpandoshi9878

SubscribedbrThank youbrCan you please make a video on COGS effects in accounting ERP
Comment from : @arpandoshi9878

My Accounting professor has taught on why does bank statement shows credit amount when it the opposite in your book Your vide0s are good
Comment from : @RA-rh5lb

Please help me clarify what 'unappropriated retain earning' is ? brbrHow to analyze the health status of company that keep accumulating its net profit in 'unappropriated retain earning' for >5years, without approriating it?
Comment from : @andrip5486

Fellow accountant here! Yes, I got taught the banking perspective Cr/Dr switcheroo at university when studying my accounting modules It was very subtle and could have been missed quite easily
Comment from : @alkerbix

I had same confusion about qualified and unqualified opinion 👍
Comment from : @curiousmind4381

Please explain current tax in ias12
Comment from : @omokunlesamuel8915

I appreciate that there are answering out there to questions some of us aren't comfortable asking our managers Some make you feel really stupid for asking them
Comment from : @Viper4ever05

oh my god why u put background music !!! educational content creator should really understand that there video's should be boring and quite as possible , it really distract me and i already have adhd imagine the pain
Comment from : @Namilkather

College is a scam
Comment from : @justincarrizales1206

Notice how he said college didn’t teach me this
Comment from : @justincarrizales1206

The first thing that confused me was start-up funding for the recording of capital and bankbrDebting bank was confusing because I was only thinking on investor side not the company side
Comment from : @farhanupdiwely8827

Hi, I like your videos I've seen about 10 so far! br3 out of many confusing accounting things: br1 Accrued expenses vs prepaid expenses br2 Why AP gets added back to cash flow statementbr3 Diluted EPS vs EPSbrAwesome videos, keep it up!
Comment from : @madeline2495

Thanks for such a great content Can we have a brief explanation of manufacturing standard costs, how are they generated, and how often they need to be updated?brAlso, what advise do you have for new accounting managers? brbrBest Regards,
Comment from : @sdeeb81

Lol they act like they could not have just used words that made sense The bank credit and debit thing confused me too until my internship Instead of just being confusing they have millions of different words they can use haha
Comment from : @Mrconserv

Thanks for another great video clears a lot of things up Still have some question that maybe you could assist with,why is depreciation called a non-cash expense yet cash is paid out at the time of purchasing, how is this cash recovered?
Comment from : @mrkasirye

Thank you for sharing this! I have a quick question if you don't mind answering I'm starting in big 4 audit at the end of this summer, but due to visa limitations, I may need to return to school next fall (I have a BBA in Accounting & Information Systems and currently have completed 2/4 of the CPA exams) Would you recommend an MS in Finance, MS in Accounting, or MS in Business/Data Analytics? Thank you again for all you do!
Comment from : @yohann8004

Another great video Thanks for covering these topics I am starting school this fall to get into accounting after a 14 year career in retail I hope to be a controller one day as well Excited for the journey and love learning as much as I have from your videos!
Comment from : @920WIZCO

Hey do you give practical job practice here for accounting and finance so students are sure what to expect when they join an org to work Thanks :)
Comment from : @zain4494

Great job Great reminder especially on the Unqualified and Qualified Audit opinion
Comment from : @tranquil5608

Thanks 👍
Comment from : @husseinmustafa5326

Learn to adjust your mentality brand avoid worrying your parents by sharing bryour stress with them brPractise filial piety by easing their minds and brtaking responsibility brfor your own karma and your lives
Comment from : @张淑佳-g9u

Thank you for sharing your knowledge with us I have learned a lot and I am putting some tips into practice :)
Comment from : @yosairysrichiez2957

Plz do a seperate video on the explanation of unqualified opinioni am still unclearsorry for thati like and watch ur videosi learned a lot from ur videos
Comment from : @Gullafrah

Getting better and better 👍👍👍
Comment from : @karenli33

Thank you! Cool setup!
Comment from : @bossmanceo

Can you explain proration and write offs in cost accounting? I finished the course and I still don't get it
Comment from : @ramizabdulahad8419

i love ur videos, thanks for ur uplaods and efforts they are really appreciated
Comment from : @moggimoggi

Great video
Comment from : @gutterfood2089

Hi Bill! I really confused about buying fixed assets an amount of $50,000 paying $20 000 cash and balance issued a promissory note payable in 5 years and bearing 6percent interest Could you please explain all possible questions about this transaction thanks a lot
Comment from : @manuelquezon83

First time i heard the term i was like : why the fuck do you want an unqualified opinion ? Whats your problem ?
Comment from : @nbcritical9819

Yes!! This is such a good video I have a multi-layer explanation to hopefully help people lock in this information There are always those little things in accounting that we just never bother to research and iron out in my head For the auditors out there, you lovely people brbr The qualified opinion contains a qualifier This one is tricky for a lot of people I always think of "but" statements when I hear qualified opinion "Your financial statements are a pure fiction and I have substantial doubt that your company is going to continue as a going concern" (I think a going concern is just a term they rolled forward from Ye Olde Lawbook) Just remember that but statements aren't clean ones Another pertinent linguistic relative: conditional love, conditional surrender Both of those are generally worse than the unconditional versions "I'm in love with an accountant, but their bookshelf only contains accounting textbooks" brbrThat's a qualified expression of love It isn't unconditional A more realistic scenario than the previous: "I like this accounting textbook's content, but they printed it in Comic Sans"brbrYour opinion of the book had to be qualified You liked the textbook, but the Comic Sans was a deal-breaker But statement When an opinion has a "but", it usually means that there are conditions brbrAnother business example Think of this in the context of a Shark Tank/Dragon's Den tv show:br"Your business is great, but this deal represents a larger risk than I am willing to take on Therefore, I am out (or they negotiate a less risky deal from the Shark/Dragon investor) brbrbrHopefully one of these is memorable to someone An unqualified opinion is one that doesn't need qualifiers Whether the "but" is implicit or explicitly written/stated, it makes the statement a qualified one
Comment from : @Chironex_Fleckeri