Filipino Accounting Tutorial

📢𝗗𝗘𝗔𝗗𝗟𝗜𝗡𝗘𝗦 𝗳𝗼𝗿 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗳𝗼𝗿 𝗜𝗡𝗩𝗢𝗜𝗖𝗜𝗡𝗚 𝗥𝗘𝗤𝗨𝗜𝗥𝗘𝗠𝗘𝗡𝗧𝗦.

Nag-issue ang Bureau of Internal Revenue (BIR) ng RR No. 11-2024 to 𝗔𝗺𝗲𝗻𝗱 𝘁𝗵𝗲 𝗧𝗿𝗮𝗻𝘀𝗶𝘁𝗼𝗿𝘆 𝗣𝗿𝗼𝘃𝗶𝘀𝗶𝗼𝗻𝘀 of RR 7-2024 relative to the Deadlines for Compliance for Invoicing Requirements.

Ayon sa RR No. 11-2024

🔴 𝗨𝗻𝘂𝘀𝗲𝗱 𝗢𝗳𝗳𝗶𝗰𝗶𝗮𝗹 𝗥𝗲𝗰𝗲𝗶𝗽𝘁𝘀 (𝗢𝗥) - Maaaring i-convert ang mga unused OR as INVOICE. For ease of doing business, allowed ang taxpayer na i-strikethrough ang word OFFICIAL RECEIPT (example: O̶F̶F̶I̶C̶I̶A̶L̶ ̶R̶E̶C̶E̶I̶P̶T̶) and i-𝗦𝗧𝗔𝗠𝗣 "Invoice", "Cash Invoice", "Charge Invoice", "Service Invoice", or any name describing the transaction until 𝗙𝗨𝗟𝗟𝗬 𝗖𝗢𝗡𝗦𝗨𝗠𝗘𝗗

🔴 Ang 𝐬𝐮𝐛𝐦𝐢𝐬𝐬𝐢𝐨𝐧 of INVENTORY LIST of unused OR/Billing Statement/Statement of Account/Statement of Charges to be used as INVOICE is 𝗼𝗻 𝗼𝗿 𝗯𝗲𝗳𝗼𝗿𝗲 𝗝𝘂𝗹𝘆 𝟯𝟭, 𝟮𝟬𝟮𝟰.

Narito ang RR No. 11-2024: https://www.bir.gov.ph/index.php/revenue-issuances/revenue-regulations/2024-revenue-regulations.html

𝐓𝐨 𝐭𝐡𝐞 𝟔𝟗.𝟕𝟐%, failing an exam does not define your worth. Keep believing in yourself. This is just a one chapter in your story, and the best is yet to come. 🌷🫂

𝐓𝐨 𝐭𝐡𝐞 𝟑𝟎.𝟐𝟖%, congratulations and welcome to the profession! Pagpupugay rin sa mga magulang, kapatid, kaanak, mga g**o, kolehiyo/unibersidad, at iba pa na naging parte ng inyong CPA journey! 👏🎉

Thank you, Polytechnic University of the Philippines Junior Philippine Institute of Accountants Manila (PUP JPIA Manila), for inviting me (once again 🙂) as your 𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐋𝐞𝐜𝐭𝐮𝐫𝐞𝐫 for the review series, 𝑱𝑷𝑰𝑨 𝑹𝒆𝒗𝒊𝒆𝒘 𝑺3: 𝑾𝒂𝒏𝒅𝒆𝒓𝒊𝒏𝒈 𝑻𝒉𝒓𝒐𝒖𝒈𝒉 𝑳𝒂𝒃𝒚𝒓𝒊𝒏𝒕𝒉 𝒐𝒇 𝑾𝒊𝒔𝒅𝒐𝒎. 🌟✨

Good luck, and may God bless all of you on your upcoming exams!🙏🫶

For special lecturer invites: [email protected]

📢Join us for the 𝑢𝑙𝑡𝑖𝑚𝑎𝑡𝑒 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗦𝘂𝗺𝗺𝗲𝗿 𝗖𝗮𝗺𝗽 brought to you by the Accounting Lecture Series! ✨

Get ready for an immersive experience as the Filipino Accounting Tutorial guides you through a crash course in 𝐁𝐚𝐬𝐢𝐜 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 (𝐁𝐅𝐀𝐑).

🆙In addition, 𝑡𝑎𝑘𝑒 𝑦𝑜𝑢𝑟 𝑠𝑘𝑖𝑙𝑙𝑠 𝑡𝑜 𝑡ℎ𝑒 𝑛𝑒𝑥𝑡 𝑙𝑒𝑣𝑒𝑙 with hands-on training in 𝐜𝐥𝐨𝐮𝐝-𝐛𝐚𝐬𝐞𝐝 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐬𝐨𝐟𝐭𝐰𝐚𝐫𝐞. 🙂

Whether you're aspiring to be a 𝑣𝑖𝑟𝑡𝑢𝑎𝑙 𝑎𝑐𝑐𝑜𝑢𝑛𝑡𝑎𝑛𝑡 or aiming for a future in accounting, this camp equips you with essential competencies right from the start.

Special thank you to Sir Rain of Accounting Lecture Series for extending the invitation to this exciting summer camp. Sir Rain will be handling 𝐴𝑐𝑐𝑜𝑢𝑛𝑡𝑖𝑛𝑔 𝑓𝑜𝑟 𝐵𝑢𝑠𝑖𝑛𝑒𝑠𝑠 𝐶𝑜𝑚𝑏𝑖𝑛𝑎𝑡𝑖𝑜𝑛𝑠, arguably one of the most challenging courses in the BSA subject! 🔥✨

Register now:
https://forms.gle/Qbj3KSPbotP6c6gb8
https://forms.gle/Qbj3KSPbotP6c6gb8
https://forms.gle/Qbj3KSPbotP6c6gb8

For more details about the Accounting Summer Camp, visit the Accounting Lecture Series!✨

I hope everyone had a Holy Week filled with peace, bringing new beginnings into your life. 🤲

✨𝗝𝘂𝘀𝘁 𝗮 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗿, 𝘁𝗼𝗺𝗼𝗿𝗿𝗼𝘄, 𝗔𝗽𝗿𝗶𝗹 𝟭 (𝗠𝗢𝗡𝗗𝗔𝗬), 𝘆𝗼𝘂'𝗹𝗹 𝗯𝗲 𝗿𝗲𝘁𝘂𝗿𝗻𝗶𝗻𝗴 𝘁𝗼 𝘆𝗼𝘂𝗿 𝘂𝘀𝘂𝗮𝗹 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗰𝗹𝗮𝘀𝘀𝗲𝘀.✨

🟥Also, I like to announce that I'm working on creating 𝗜𝗻𝘁𝗲𝗿𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝟮 𝘃𝗶𝗱𝗲𝗼 𝘁𝘂𝘁𝗼𝗿𝗶𝗮𝗹𝘀! 📝🙂

As of this writing, nasa Leases (Lessee) na ang latest videos.

Narito rin ang handouts and link ng YouTube playlist if you need it! 🙂

🟢𝕄𝕒𝕘-𝕒𝕣𝕒𝕝 𝕟𝕒𝕟𝕘 𝕞𝕒𝕓𝕦𝕥𝕚, 𝕗𝕦𝕥𝕦𝕣𝕖 ℂℙ𝔸! 🏆❣️

𝐇𝐀𝐍𝐃𝐎𝐔𝐓𝐒:
https://drive.google.com/drive/folders/1yFuWcIyzQyP7ZJHhmY-0RKL9SHYSqtIk?usp=sharing

𝐕𝐈𝐃𝐄𝐎 𝐓𝐔𝐓𝐎𝐑𝐈𝐀𝐋 𝐏𝐋𝐀𝐘𝐋𝐈𝐒𝐓:
https://youtube.com/playlist?list=PLl-IwImaCVm5TNZ23z-lhNmsndZkDN-eC&si=QBHHgFNftHkgbmeW

𝟭𝟬 𝗠𝗜𝗟𝗟𝗜𝗢𝗡 𝗩𝗜𝗘𝗪𝗦! 𝟭𝟬 𝗠𝗜𝗟𝗟𝗜𝗢𝗡 𝗧𝗛𝗔𝗡𝗞𝗦! 🙇‍♂️❤️

Your continuous support fuels our passion! A tremendous THANK YOU to all of you 🥹🫶

✨ 🎥 Filipino Accounting Tutorial 🤝 Sir Win - Accounting Lectures 🎥 ✨

𝘽𝘼𝙎𝙄𝘾 𝙁𝙄𝙉𝘼𝙉𝘾𝙄𝘼𝙇 𝘼𝘾𝘾𝙊𝙐𝙉𝙏𝙄𝙉𝙂 𝘼𝙉𝘿 𝙍𝙀𝙋𝙊𝙍𝙏𝙄𝙉𝙂 (𝘽𝙁𝘼𝙍) 𝙋𝙇𝘼𝙔𝙇𝙄𝙎𝙏 ⏯️🎥

Beginning with your enrollment in the Accountancy, Business, and Management (ABM) strand and the Bachelor of Science in Accountancy (BSA) course program, you are officially on the path to becoming a 𝘾𝙚𝙧𝙩𝙞𝙛𝙞𝙚𝙙 𝙋𝙪𝙗𝙡𝙞𝙘 𝘼𝙘𝙘𝙤𝙪𝙣𝙩𝙖𝙣𝙩 (𝘾𝙋𝘼). The start of the classes is fast approaching.

Kickstart you 𝑪𝑷𝑨 𝒋𝒐𝒖𝒓𝒏𝒆𝒚. To assist you in your 𝑏𝑎𝑏𝑦 𝑠𝑡𝑒𝑝𝑠 towards the 𝗖𝗣𝗔 title, you might consider watching our 𝘽𝘼𝙎𝙄𝘾 𝙁𝘼𝙍 𝙫𝙞𝙙𝙚𝙤𝙨.

𝑇ℎ𝑒 𝑑𝑖𝑠𝑐𝑢𝑠𝑠𝑖𝑜𝑛 𝑜𝑓 𝑡ℎ𝑒𝑜𝑟𝑖𝑒𝑠, 𝑐𝑜𝑛𝑐𝑒𝑝𝑡𝑠, 𝑎𝑛𝑑 𝑝𝑟𝑜𝑏𝑙𝑒𝑚-𝑠𝑜𝑙𝑣𝑖𝑛𝑔 𝑖𝑠 𝑐𝑜𝑚𝑝𝑟𝑒𝑠𝑠𝑒𝑑 𝑖𝑛𝑡𝑜 𝑎𝑛 ℎ𝑜𝑢𝑟 𝑜𝑟 𝑙𝑒𝑠𝑠 𝑜𝑓 𝑣𝑖𝑑𝑒𝑜𝑠 para hindi totally time-consuming ang mga lessons. Because I want you to spend the majority of your time in class 𝘱𝘢𝘺𝘪𝘯𝘨 𝘢𝘵𝘵𝘦𝘯𝘵𝘪𝘰𝘯 𝘵𝘰 𝘺𝘰𝘶𝘳 𝘵𝘦𝘢𝘤𝘩𝘦𝘳𝘴 𝘢𝘯𝘥 𝘱𝘳𝘰𝘧𝘦𝘴𝘴𝘰𝘳𝘴, 𝘳𝘦𝘢𝘥𝘪𝘯𝘨, 𝘢𝘯𝘥 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘪𝘯𝘨 𝘱𝘳𝘰𝘣𝘭𝘦𝘮-𝘴𝘰𝘭𝘷𝘪𝘯𝘨 𝘴𝘬𝘪𝘭𝘭𝘴.

𝗦𝗮 𝗹𝗮𝗵𝗮𝘁 𝗻𝗴 𝗺𝗮𝗴𝘀𝗶𝘀𝗶𝗺𝘂𝗹𝗮 𝗻𝗴 𝗸𝗮𝗻𝗶-𝗸𝗮𝗻𝗶𝗹𝗮𝗻𝗴 𝗖𝗣𝗔 𝗷𝗼𝘂𝗿𝗻𝗲𝘆, 𝗴𝗼𝗼𝗱𝗹𝘂𝗰𝗸 𝗮𝗻𝗱 𝗚𝗼𝗱 𝗯𝗹𝗲𝘀𝘀 𝘀𝗮 𝗶𝗻𝘆𝗼! 𝗣𝗮𝗴𝗯𝘂𝘁𝗶𝗵𝗶𝗻 𝗻'𝘆𝗼 𝗮𝗻𝗴 𝗽𝗮𝗴-𝗮𝗮𝗿𝗮𝗹 🫶 𝗞𝗮𝘆𝗮 𝗻'𝘆𝗼 '𝘆𝗮𝗻! ❤️

𝑳𝒊𝒏𝒌 𝒕𝒐 𝑩𝒂𝒔𝒊𝒄 𝑭𝑨𝑹 𝒗𝒊𝒅𝒆𝒐𝒔: https://youtube.com/playlist?list=PLl-IwImaCVm7FDTaw6Xh5urQM9HYWFRau

👀Review of Intermediate Accounting Topics👀
💰💵Accounting for Cash and Cash Equivalents💰💵

⁉️Frequently Asked Question of Accounting for Cash and Cash Equivalents:
💭How much is the cash and cash equivalents to be reported on balance sheet?

✅In layman's term, cash simply means "money".
✅However, in accounting parlance, cash connotes more than money.
✅Accordingly, in accounting, cash includes checks, bank drafts and money orders.
✅Kaya dapat alam natin ang mga "items" considered as "cash" and mga items considered as "cash equivalents".

Panoorin ang buong review session sa link na ito:

Review of Intermediate Accounting Topics | Accounting for Cash and Cash Equivalents Review of Intermediate Accounting Topics | Accounting for Cash and Cash EquivalentsTimestamps:00:00 Start01:08 Cash04:32 Postdated checks and Unreleased chec...

INTERMEDIATE ACCOUNTING 2 (IA2) PLAYLIST ⏯️📕

One of the requested subjects ito based sa mga comments na gawaan ko raw ng mga video lessons, and ito na po s'ya 🙂

I like to share lang po na meron na rin tayo na Intermediate Accounting 2 Playlist 🫶

Topics so far:
✅Liabilities
✅Accounting for Premium Liability
✅Accounting for Warranty Liability
✅Accounting for Notes Payable
✅Accounting for Bonds Payable

[Sa ngayon, currently working on my retirement of bonds and accounting for compound financial instruments video lessons 🫶]

The video lessons are short lang and concise ang theories and problem-solving [para may oras ka rin to study, magbasa and magsolve on your own 🙂]

Nakabreak-down na ang playlist for you na mas madali i-navigate ang particular/specific topic na gusto mo lang aralin ♥️

Q: "Saan po ba ko mag start?"

A: Nabasa ko po ang katanungan ninyo, Joel 🙂 And here is the sequence:

1. Basic Accounting Playlist:
https://youtube.com/playlist?list=PLl-IwImaCVm7FDTaw6Xh5urQM9HYWFRau

2. Partnership Accounting Playlist:
https://youtube.com/playlist?list=PLl-IwImaCVm5nGgG-k4FmlEwLMzbfQdpF

3. Corporation Accounting Playlist:
https://youtube.com/playlist?list=PLl-IwImaCVm5il_cN30ViZqzfg1a3ljNs

4. Intermediate Accounting 1 Playlist:
https://youtube.com/playlist?list=PLl-IwImaCVm7M573mrA5x7GBDujXs1c1b

At marami pa na mga topics and playlist 🙂

✅Related Facebook post here:
https://m.facebook.com/story.php?story_fbid=1228724154587809&id=418539748939591&mibextid=Nif5oz

Thank you too 🥹 Mas masaya kami, knowing bumalik ka sa pag-aaral after ilang taon din na pag-hinto ♥️🙇‍♂️

'Pag need nyo mag-advance study or mag-recap ng mga accounting lessons, you might consider watching our accounting lessons sa verified Youtube channel namin 🙂

Every week, we upload accounting lessons to help future CPAs take their first steps toward the CPA title 👩‍💼👨‍💼

YouTube channel stats:

👀 7,000,000+ views
✅ 150,000+ subscribers
🎥 200+ lecture videos

Been uploading accounting lectures since April 2019 and can't believe the channel is now seems approaching 10 million views. 👀🙇‍♂️

Thank you to everyone who watched and shared our YouTube accounting lessons.

Also, thank you to the teachers that include our accounting lectures into their business/accounting classes as supplemental material.

We will continue to upload new accounting lessons every week that may be useful to business students.

(Marami pa po na i-ta-topic dito🙂)

Mastering DEBITS and CREDITS

✅Kapag maalam ka na po kung ano-ano ang mga Asset, Liability, Equity, Revenue or Expense, isa sa DAPAT matututunan ng mga beginners sa accounting ang pag-gamit ng Debits and Credits.

✅Dapat alam natin ang basic accounting model. Basic accounting model is:

*** Assets = Liabilities + Equity ***

✅Debit is normally nasa left (kaliwa) side, and Credit is normally nasa right (kanan)side. And dapat:

*** Debits = Credits ***

✅Ngayon, pagsamahin na natin
*** Assets = Liabilities + Equity ***
*** Debits = Credits ***

✅It means na NORMAL balance ng Asset is Debit (parehas nasa left/kaliwa), and NORMAL balance ng Liabilities and Equity is Credit (parehas nasa right/kanan).

Hinahati sila ng "=" sign.

✅Paano naman pag Revenue and Expense? Ano ang normal balance nun? At ano ang analysis bakit ganun ang normal balance nila?

Panoorin ang video para sa iba pang detalye 🙂
https://youtu.be/5CUCojBKuBo

Basic Accounting - Debits and Credits (Part 1) Learn the rules of Debit and Credit.Financial Transaction Worksheet Link:https://youtu.be/fQ0P17eUR9Mhttps://youtu.be/E50Tj5s6LIcReference: Basic Accounting ...

✅Napapadalas na naman ang mga ganitong questions to us, saan daw mag-start ng panoood ng mga free accounting lessons namin sa YouTube? 🤔

✅How can someone without an accounting background learn the basics/fundamentals of financial accounting?

✅To begin your basic financial accounting/fundamentals of accounting, you may consider watching our free basic accounting lessons sa Youtube. Arranged na po ang topics dito ♥️ Here is the link:
https://youtube.com/playlist?list=PLl-IwImaCVm7FDTaw6Xh5urQM9HYWFRau

Here is the link na rin of the related post po:
https://m.facebook.com/story.php?story_fbid=996811484445745&id=418539748939591

https://m.facebook.com/story.php?story_fbid=528959991230899&id=418539748939591

May katagalan na rin itong post na ito but we like to share this again para sa mga newbie na gustong maging accountant 🙂 Lalo na po malapit na naman ang simula ng klase.

I-master n'yo na po agad-agad ang BASICS ng accounting ngayon pa lamang. ✋

"hindi ako confident kasi di ako magaling sa math but then nong napanuod ko to naintindihan ko naman"

"feeling ko kakayanin ko basta mag advance lang study lage😊😁"

--

Kaya mo 'yan future accountant kung sino ka man! With your diligence sa pag aaral madedevelop rin ang iyong confidence ♥️

Thank you rin for your comment. Seems it reminds us na ituloy pa rin itong mga accounting lessons sa YouTube 🥲

VALUE ADDED TAX:
VAT EXEMPT TRANSACTIONS

Recap muna tayo, future CPAs, ng BUSINESS TAXES
Business Taxes
1️⃣ VAT
2️⃣ Percentage Tax

✅Recap muna rin natin, kailan po ba nagiging liable ang business magbayad ng VAT? Ano po ba yung pagkakaiba ng VAT vs NON-VAT?

Maaari n'yo click ang link na ito to recap VAT vs NON-VAT 🙂
https://www.facebook.com/418539748939591/posts/1079588919501334/

✅Now, mabalik ulit tayo sa VAT. Kung gusto n'yo po matutunan ang basics of VAT, dapat alam n'yo rin po ang mga EXEMPT TRANSACTIONS under po ng ating Tax Code.

✅Ang EXEMPT TRANSACTIONS po ay makikita nyo sa Section 109 ng ating Tax Code

✅Ang mga EXEMPT TRANSACTION po ay mga transactions na exempt sa VAT and exempt rin sa Percentage Tax. Ibig sabihin, walang mga business tax ang mga transaction na ito 🙂

✅Meron po tayong 29 EXEMPT TRANSACTIONS [Sections 109(A) to 109(CC)] under ng Tax Code as of this facebook post writing 🙂

✅Ipapaliwanag namin sa inyo yan bawat section. Sa ngayon, 3 sections pa lang ang naka upload sa aming YouTube channel ♥️ itutuloy po namin ang remaining sections sa mga susunod na weeks 🙂

Narito ang link:
https://youtube.com/playlist?list=PLl-IwImaCVm6CSM59E6TVZ0Z6HtueGw35

⭐Please subscribe po for more accounting and tax lessons ⭐🙂
https://youtube.com/c/FilipinoAccountingTutorial

Congratulations on this great accomplishment ♥️🥉

Thank you for your comment 🙂

It seems this is another proof that our free accounting lectures serve their purpose 🥹

Ano po ang Qualifying Exam?

Ito po ay exam na dapat makakuha ng passing score ang student para "qualified" pa rin s'ya sa course na inenrol n'ya.

Kapag "failed" ka sa qualifying exam, maaari ka po matanggal or ma-disqualified sa course na iyong inenrol.

📌INVESTMENT IN ASSOCIATES

Recap rin natin ang classification of investment in equity securities depending sa % shares owned 🙂

✅1️⃣ Equity securities at fair value - If the shares owned by the entity is less than 20%, it is presumed that walang significant influence ang investor over investee.

✅2️⃣Investment in associates - if 20% to 50% is owned. Ang presumption is meron ng "significant influence" ang investor over investee.

✅3️⃣Investment in subsidiary - if 50% or more is owned, ang presumption is meron ng "control" ang investor over investee.

Ano ang pagkakaiba ng "significant influence" and "control"? 🤔

Panoorin ang video for more lessons:
https://youtu.be/sp_fATTAK1c

PAS 28 Investment in Associates PAS 28 Investment in AssociatesTimestamps:00:00 Definitions07:15 Significant Influence15:07 Equity Method18:29 Excess of Cost over Carrying Amount19:56 Probl...

Thank you too, but, maaari naging isa kami sa mga naging guide mo towards your exam, pero ikaw naman talaga ang nagligtas sa sarili mo sa exams, not us. Haha 😅 Congratulations, aspiring CPA♥️

We hope mas marami pa tayo ma-reach na aspiring CPAs. 🤞

Baka sakaling makatulong rin tayo sa kanila on how to 'ligtas' themselves from exams. 🙂

Magpapatuloy pa rin kami sa pag-upload ng mga free accounting tutorial videos para sa mga aspiring CPAs 🙂

Topic natin is DELINQUENT SUBSCRIPTION

✅If the shareholder failed to pay the unpaid subscription on or before the due date, that shareholder can be declared DELINQUENT dahil hindi s'ya nagbayad on time. Yung shares associated with that shareholder is considered naman as DELINQUENT shares.

✅para macollect ang unpaid subscriptions, the delinquent shares will be sold at public auctions. The delinquent shares will be sold to the HIGHEST bidder.

✅Ang HIGHEST bidder is the person who is willing to pay the offer price for the SMALLEST number of shares.

Bakit ung "smallest" number of shares ang considered highest bidder? 🤔

Ano-ano naman po ang mga journal entries needed for delinquent subscription? 🤔

Panoorin ang video for more discussion po:
https://youtu.be/Cgi0cWLlTec

Review of Selected Accounting Topics: Delinquent Subscription Class, I'm sorry for the wrong spelling of the term "delinquent". I decided to publish this video as public because I believe the video will still be useful ...

⏯️ FUNDAMENTALS OF ABM PLAYLISTS🧮 ⏯️

Common na tanong sa amin ng mga newbie sa accounting:

"Saan po ba ako magsisimulang manood ng mga accounting tutorials n'yo po?"🤔

Kung newbie ka po sa pag-aaral ng accounting, panoorin mo lang po ang 4 na playlist ng FUNDAMENTALS OF ABM 🙂

1️⃣ The Accounting Equation and The Types of Major Accounts
2️⃣ Business Transactions and Their Analysis
3️⃣ Accounting Cycle of a Service Business
4️⃣ Accounting Cycle of a Merchandising Business

If you able to master ang 4 na topics na 'yan, then you are almost reasonably ready na para sa iilang higher accounting topics 🙂🧡

Share lang ulit namin para sa mga bago namin followers, because sharing is caring 🙂♥️

👀Mag-review muna tayo ng selected accounting topics: BONUS COMPUTATION🙂

Paano magcompute ng bonus??🤔

✅Bonus is a special compensation when the results of the business operations are favorable.

✅Usually, nagkakaroon ng "bonus" to partners kapag maganda ang operations ng business.

✅May mga instances rin na may required minimum amount of net income na dapat ma-achieve bago magbigay ng additional compensation in a form of "bonus".

✅Madali lang naman magcompute ng bonus. Bonus = Basis of bonus x bonus rate. 🙂

Nagkakaroon lang ng problem in determining the "basis" of bonus dahil maraming possible "variations" ang basis of bonus.

Meron po tayong tinatawag na basis na:
(1) Bonus is based on net income "BEFORE" bonus
(2) Bonus is based on net income "AFTER" bonus

Yung (1) and (2), minsan may kasama pang before (or after) SALARIES and INTEREST 😄

Panoorin ang video for more information:
https://youtu.be/0P8ewvGjqk4

Review on Selected Accounting Topics: Computation of Bonus to Partners Review on Selected Accounting Topics: Computation of Bonus to PartnersReference: Advanced Accounting Vol. 1 by Sir Antonio Dayag ...

Filipino Accounting Tutorial's YouTube channel passed the 6M views milestone 🏆

6,000,000 views and counting! 🙇‍♂️🧡

Maraming salamat po sa inyong lahat! 🙇‍♂️♥️

Wow! Finally. Face-to-face accounting examinations are now approaching? 🙂

Paunti-unti na tayong nakakabalik sa traditional classes. Malapit na 💗

INVENTORY ESTIMATION - RETAIL INVENTORY METHOD

✅The Retail Inventory Method came to its name because the selling price or the "retail price" is tagged to each item of inventory. See photo below po 🙂

✅The Retail Inventory Method is generally applied by department stores and supermarkets 🏪🛍️

✅Future CPAs, in mastering the retail inventory method, dapat alam n'yo po muna ang pagkakaiba ng "Markup" and "Markdown"

Markup is basically nagdadagdag po tayo ng selling price or retail price.
Markdown is nagbabawas naman po tayo ng selling price or retail price.

Panoorin ang video for more discussion: 🙂
https://youtu.be/bMzzcojUokQ

✅PAS 1 Presentation of Financial Statements (Statement of Financial Position) Part 2

General features of financial statements:
1. Fair presentation and compliance with PFRS
2. Going concern
3. Accrual basis of accounting
4. Materiality and aggregation
5. Offsetting
6. Frequency of reporting
7. Comparative information
8. Consistency of presentation

Ano po ang ibig sabihin ng mga features mentioned above? 🤔🙂

Panoorin ang Part 2 ng PAS 1 dito:
https://youtu.be/h4SQS0UaqaE

Face-to-face accounting classes are waving 👋

Konting tyaga-tyaga na lamang sa distance learning, aspiring CPA, malapit na ang traditional f2f accounting classes 🙂

Maraming salamat sa lahat ng nanonood ng aming mga accounting lessons.

Sana kahit f2f na, you might consider pa rin watching ang mga lessons ni Filipino Accounting Tutorial 🙂 especially sa mga want magrecap or mag advance study 🧡

Our first topic ngayong Alert Level 1 na in most areas in the Philippines,

📌PAS 1 PRESENTATION OF FINANCIAL STATEMENTS (Statement of Financial Position)

Ikaw na future CPA, napagdaanan mo na ang basic accounting wherein introduce ang Financial Statements. May idea ka na about balance sheet, income statement, changes in equity, and cash flows. So kahit papano may idea ka na about dito 🙂

Lahat ng accounting na ginagawa natin must be in accordance with generally accepted accounting principles (GAAP) and ang GAAP natin is Philippine Financial Reporting Standards (PFRS)

The PFRS collectively include the following:
1. PFRS
2. Philippine Accounting Standards (PAS)
3. Philippine Interpretations

✅Dapat mo po magets ang ibig sabihin ng "general purpose financial statements".

✅Ano-ano nga ba ang components ng "complete set" of general purpose financial statements according to PAS 1?

✅Ano-ano po ba ang "general features" or distinctive characteristics kumbaga ng isang general purpose financial statements?

Panoorin ang discussion:
https://youtu.be/ty4nAmVHptc