As someone who switched from Computer Science to Accounting, those data structure and algorithms classes helped tremendously with FIFO and LIFO accounting since they’re essentially a method for extracting and filling a data structure with ordered elements(e.g. Arrays, Lists, etc) FIFO = Queue and LIFO = Stack which are both fundamental to Object Oriented Programming.
@@Accountinguniv Very funny it worked out the way it did because my favorite classes that I took while a Computer Science student were theory heavy data structures and algorithms classes. Hardly did any actual programming in that class unless we wanted to for extra credit. The reason why I switched majors was the dread I felt being pressured to learn and keep up with ever growing language libraries meanwhile my motivation for learning it was driven by the theory focused Comp. Sci. courses. Accounting seems to bridge those fields quite well for me!
question for example number 1. Dr. Inventory 15,800 Cr. Cash 15,600 Freight in 200 isnt it like that? also for problem 3. u also need to update the COGS and Inv. right?
Hello Sir, thank you for your useful video on Inventory. I am a new user of inventory management. I had deleted several inventory items that were entered by mistake in QB, which caused a huge amount of inventory shrinkage in the report. How do I fix this inventory shrinkage? Please help me. I shall highly appreciate it. Thanks.
Have you ever returned an item to a store? If so, what was it? Comment below...
This video has helped me a lot
In Making me understand perpetual inventory
As someone who switched from Computer Science to Accounting, those data structure and algorithms classes helped tremendously with FIFO and LIFO accounting since they’re essentially a method for extracting and filling a data structure with ordered elements(e.g. Arrays, Lists, etc)
FIFO = Queue and LIFO = Stack which are both fundamental to Object Oriented Programming.
Glad to hear there’s some nice overlap!
@@Accountinguniv Very funny it worked out the way it did because my favorite classes that I took while a Computer Science student were theory heavy data structures and algorithms classes. Hardly did any actual programming in that class unless we wanted to for extra credit.
The reason why I switched majors was the dread I felt being pressured to learn and keep up with ever growing language libraries meanwhile my motivation for learning it was driven by the theory focused Comp. Sci. courses.
Accounting seems to bridge those fields quite well for me!
I finally understood. Thank you so much!
Thank you so much now i understand the perpetual inventory
I love the practice problems. Ty1
I've finally understood 😍thank you so much.
3 years I take financial accounting class and I hope your video will be cure for me lol
question for example number 1.
Dr. Inventory 15,800
Cr. Cash 15,600
Freight in 200
isnt it like that?
also for problem 3. u also need to update the COGS and Inv. right?
Why is revenue on the credit side?
Thank you sir❤
Thank you so much. Although I’m pretty sure the "defective returened goods" question is supposed to be Dr. Accounts Payable.
thank you.
Thank youuu
Perpetual Inventory, how to record inventory from the previous year? which account is debited and credited?
Hello Sir, thank you for your useful video on Inventory. I am a new user of inventory management. I had deleted several inventory items that were entered by mistake in QB, which caused a huge amount of inventory shrinkage in the report. How do I fix this inventory shrinkage? Please help me. I shall highly appreciate it. Thanks.
I’ve definitely made returns 🙋🏻♀️
🎉
returning to the purchases vendor but you are debiting accounts receivable...are you sure?
*jeez where is the PERIODIC INVENTORY video?*