CORRECTION OF ERRORS AND SUSPENSE ACCOUNTS (PART 2) (THE EFFECT OF ERRORS ON PROFIT)

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I really appreciate how you make accounting simple to some of us. Receive my greetings from Kenya

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I have benefited alot from him
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Me too I even have FA on Monday

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Gratitude from Uganda. You are good at what you do Mr. Fog.

[@IbrahimIdrissaSesay-pv1dv]

Mr FOG you're the best Accounting teacher I had ever met. You've made errors and Suspense to be one of my simplest and favorite topic in Financial Accounting. Thanks very much.
May God continue to increase your knowledge

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thank you sir, I've really gained a lot from this channel

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You made me enjoy studying accounting...Thank you sir

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I have enjoyed most of your lecture on UA-cam your the best sir may God continue to bless your hard work🙏

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Sir your teaching methods are easy to understand
Thanks so much sir
Watching from Nigeria

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So much gratitude from Kenya.... your a genius

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😭I'm writing ICAN and I find your videos so helpful ❤ you make accounting easy

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How was the results?

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Thank you sir.. I have a good appreciation now of the topic.

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This is so amazing in it's clarity

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This is my first time

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Keep up the good work sir, your videos are making my academic journey easy, may God bless you.

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I'm from Zambia enjoying the video sir

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🙏🙏 thanks sir this is really helping me to understand better, financial accounting,,,

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I really appreciate your teachings
Am from Uganda

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L appreciate ,,you are really changing lives

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Your words are very clear thanks sir 👏👏👏

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God bless you sir. You are really imparting lifes

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Very well understood sire, thank you.

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instablaster

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Nashukuru sir,I mean thank I'm from Tanzania

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Thank for treated well from Tanzania

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Thx so much.How do I approach a qn when given errors

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Really appreciate teacher

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Thank you sir, well explained

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Much love from Uganda

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Well explained thank you sir

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You made accounting easy ❤

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Really helpful!!!!

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God richly bless you 🎉

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Your simply the best

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Best teacher

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Well done sir

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Financial Accounting made simple 💕

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6:20 Statement of Adjusted Net profit

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God bless you❤

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Thanks... explain to me how to correct a statement of financial position

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Perfect Teacher

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Sir the major problem I have is overcast n undercast issues

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Purchases✅

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[@masterkayijuka9489]

Hello sir i am very interested to follow your teaching about accounting ,then i wouldlike to request you to give us the introduction of cashflow statement.thanks

[@nanadmedici6505]

Thanks Sir

[@MahamaAbubakari-cx1mb]

Pls sir are we using expenses,income and inventory items only in the adjusted net profit?

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God bless u sir

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When shall we expect new uploads from you sir?

[@FOGAccountancyTutorials]

Weekly, from next week Friday onwards

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Thank you Sir

[@FOGAccountancyTutorials]

Welcome

[@Ennychanter]

Weldone sir

[@musasesay4106]

How errors affects the balance sheet are adjusted

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You look peng in this shirt👌

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❤

[@brenfatty5637]

sir how about questions on accumulated fund

[@adenikebello9158]

I am struggling to understand the adjusted net profit. ..pls help

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What about over depreciation and under depreciation

[@vickykaramba3632]

What if the balance bought down is not given how do I get it or what do I do

[@linahapolinary5658]

Hello sir, i have a problem on when to know when suspense account is opened?

[@FOGAccountancyTutorials]

You need to understand the errors first and differentiate them from those that affect the agreement of the trial balance and those that will not affect...
Next, resolve that only errors that affect the agreement of the trial balance will go through the suspense account.

[@fataihamzah7248]

I hail

[@ajunatechs]

WAT IS OVERCASTED AND UNDERCASTED IN ERRORS

[@olisachukwurah9901]

I'm still a bit confused about this topic... I don't understand how to identify the effects.

[@FOGAccountancyTutorials]

Kindly repeat the video and follow the example... I’m that that should help.
What I did is to try and classify all the effects into overstatement or understatement of profits.

[@musasesay4106]

But the closing stock also appears in the balance Sheet

[@FOGAccountancyTutorials]

closing stock appears in the income statement as well before the balance sheet. We are adjusting it because it has an effect on profit

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Please I texted you but u have not replied till now

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[@masterkayijuka9489]

Hello sir i am very interested to follow your teaching about accounting ,then i wouldlike to request you to give us the introduction of cashflow statement.thanks

[@FOGAccountancyTutorials]

CASHFLOWS have been uploaded now. Thanks