The videos of him are the savior of all the students who are pursuing accounting courses. This playlist is one of the best playlists that i ever found.
I think his use of the word "error" is a bit extreme. The choice of inventory counting method doesn't change the value of the inventory. Think about it. Otherwise you'd get different CGS when you sell out all inventory, which would mean you can generate money out of thin air. With the arrows he just shows that when the CGS is overstated in one accounting period, then in the next it will be understated. This is what he means by "self-correcting". If you think about it, it must be like that. If it permanently makes your financial statements better, then you again created money out of thin air.
The videos of him are the savior of all the students who are pursuing accounting courses. This playlist is one of the best playlists that i ever found.
These videos have been my lifesaver for my online accounting class. I was really lost, but now I understand everything! Thank you!!
y'll remember Circuit City?
35:58 HW Ex 6-10
HW QS 6-9 0:50
You reminded me to study Just in time inventory. :-D
20:51 QS 6-12
Way off on the cost of that Watchman. No way it was that low.
Does anybody know where can i find test answers?
+Tamar Aghapishvili all the links to stuff like that are in the comments under the first few vids, none of them get this far in the playlist.
All supplementary material is here: blogs.jccc.edu/accounting/_1/practice-tests/
ha ha watching something on a screen when its not a phone...lol!!
I don't understand why an error self corrects after 2 years. Anybody?
I think his use of the word "error" is a bit extreme. The choice of inventory counting method doesn't change the value of the inventory. Think about it. Otherwise you'd get different CGS when you sell out all inventory, which would mean you can generate money out of thin air. With the arrows he just shows that when the CGS is overstated in one accounting period, then in the next it will be understated. This is what he means by "self-correcting". If you think about it, it must be like that. If it permanently makes your financial statements better, then you again created money out of thin air.
Thanks
Great teacher!!
Good vid