This video clarified a lot of things for me! Essentially what I've been taught by my elders was the concept of cash flow but they called it calculating profits, but in accounting terms calculating profits is one hell of an ordeal! Thank you sir for making this amazing, and easy to understand video!
This really helps! Thank you! I have a question, in your video, you explained that Account Receivable means invoices sent to customers and they haven't paid yet; I see (Increase)/decrease in receivables and contract assets in the Cash Flow Statement, what's the difference between receivable and contract assets?
Thank you for the kind words! I appreciate it! Contract assets are similar to receivables (i.e. money to be collected from customers) but there are also other obligations the company needs to fulfill to collect the money it's entitled to. I found a good article online that helps explains the difference between receivables and contract assets - hope it's helpful: ifrscommunity.com/knowledge-base/ifrs-15-contract-assets-and-contract-liabilities/
Great breakdown of the differences.
You killed it
This video clarified a lot of things for me! Essentially what I've been taught by my elders was the concept of cash flow but they called it calculating profits, but in accounting terms calculating profits is one hell of an ordeal!
Thank you sir for making this amazing, and easy to understand video!
Thank you for the kind words! I’ll be back publishing content later this year!
You make everything so easy and smooth
Please keep making the videos
Do something on cash flow statement
You the best 👍
Grateful
Appreciate your kind words!
Nice video...keep educating us with more finance related videos. thanks. 👍
Much appreciated! Glad you like the content
Great video and easy to follow.
Much appreciated Hamza! Glad you liked it!
This really helps! Thank you! I have a question, in your video, you explained that Account Receivable means invoices sent to customers and they haven't paid yet; I see (Increase)/decrease in receivables and contract assets in the Cash Flow Statement, what's the difference between receivable and contract assets?
Thank you for the kind words! I appreciate it! Contract assets are similar to receivables (i.e. money to be collected from customers) but there are also other obligations the company needs to fulfill to collect the money it's entitled to. I found a good article online that helps explains the difference between receivables and contract assets - hope it's helpful: ifrscommunity.com/knowledge-base/ifrs-15-contract-assets-and-contract-liabilities/
Great overview. Can you do a video on gross vs net profit?
Great suggestion! Will do a video on that topic next month!
Thank you
Sahi hai bhai