Alonzo, Thanks so much for the confidence booster! I recently started a website to better organize the videos and finished uploading the managerial course yesterday. The videos are completely free. You can check out the managerial course here: edspira.com/courses/managerial-accounting Take Care!
Thank you SO MUCH for these videos. I'm finishing up my BS in Business Management online and this class has been hard for me to pass without examples. Your videos are easy to understand and have helped me immensely.
Here's an example: if a manufacturing company hired a CPA firm to perform tax services for $500, and the CPA firm then performed those services for the company, the manufacturing company would now owe the CPA firm $500 (we would say that the manufacturing company "incurred" an expense, or in other words, that it must now record a $500 expense in its accounting records)
Let's say a company received goods that they purchased FOB shipping point and the freight cost is 900 paid in cash. Would that be product or period cost? A little stumped. Thank you in advance!
All costs that are directly or indirectly incurred in bringing an article to its existing condition and location necessary to be sold in the course of business are capitalized as inventory. As jacksonheideman8807 said, this would include freight in costs.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
this is one of the best explanations in the history of explanations well done
Alonzo,
Thanks so much for the confidence booster! I recently started a website to better organize the videos and finished uploading the managerial course yesterday. The videos are completely free. You can check out the managerial course here:
edspira.com/courses/managerial-accounting
Take Care!
Thank you SO MUCH for these videos. I'm finishing up my BS in Business Management online and this class has been hard for me to pass without examples. Your videos are easy to understand and have helped me immensely.
Excellent Tutorial, because you use practical example which enable us to grasp the concept. please keep it up!!!!
Thanks, will do!
Keeping track of cogs is important!
Thank you, helped me to understand some points i couldn't get it from my lecture😊
This was very helpful , go ahead
excellent!
This is great. Thank you for these videos
What do you mean when you mentioned incur? and why is it 1000 incurred as you have mentioned. please help thanks
Here's an example: if a manufacturing company hired a CPA firm to perform tax services for $500, and the CPA firm then performed those services for the company, the manufacturing company would now owe the CPA firm $500 (we would say that the manufacturing company "incurred" an expense, or in other words, that it must now record a $500 expense in its accounting records)
@@Edspira okay got it thank you so much. God bless you
YOUR AMAZING THANK YOU
Thanks!
Got main points from u , thanks
No problem my friend. Take care and have a happy Thanksgiving!
good lesson
Thank you very much
Let's say a company received goods that they purchased FOB shipping point and the freight cost is 900 paid in cash. Would that be product or period cost? A little stumped.
Thank you in advance!
Freight in is a product costs (capitalized into inventory) and expensed when sold (COGS)
All costs that are directly or indirectly incurred in bringing an article to its existing condition and location necessary to be sold in the course of business are capitalized as inventory. As jacksonheideman8807 said, this would include freight in costs.
Please go over the meaning of cogs thanks
I have another video that covers cogs (cost of goods sold) for a manufacturer
I have a question please outside the materials.
I would like to know what is the name of software you are using to make these videos?
I use a Wacom Bamboo Tablet and Camtasia Studio.
It's nice
goat