What if accounting?

Just needed to remove the first post which I wrote about myself to go away from the front page.

It's sad. So make it the memory which I need to focus on and to get it with more bad passion.

Accounting seems to be over for the person who made this blog

No income, no passing ratio at the benefit of the SAD mind. Maybe that's the way life works and you can't work things out really easily the way you want things to come out.

SAD BUT TRUE. No more accounting for the moment. Yes, dreams do come true. Not when you lack something.

So, wish me luck. And if possible, with your support will start and finish ACCA again. Let's see how it goes. Age is increasing, prospects are don't know where they are going.

Let's hope for the best. For the moment in a very tough, rough, hard, crazy situation right now.

Would've loved to make a fourth effort in passing the paper with anger and more angst.

Maybe I needed that failure. Maybe, that's good. I really needed the energy boost.

Passing makes you believe.
Failing makes you angry and make you false believe. Energy boost is given by both. No doubt about that.

FINANCIAL ACCOUTING VIDEOS LINK LIST SO THAT YOUR BROWSER DON'T CRASH OR HANG UP

CHAPTER 1 - Uses of Accounting Information and the Financial Statements - TEACHER : SUSAN CROSSAN

CHAPTER 2 - ACCOUNTING TRANSACTIONS - SUSAN CROSSAN 

CHAPTER 3 - Measuring Business Income - SUSAN CROSSAN THE TEACHER

CHAPTER 4 - Financial Reporting & Analysis - TEACHER : SUSAN CROSSAN

CHAPTER 5 - Merchandising Operations , TEACHER : SUSAN CROSSAN

CHAPTER 6 - INVENTORIES - SUSAN CROSSAN THE TEACHER

CHAPTER 7 - Cash and Receivables , TEACHER : SUSAN CROSSAN

CHAPTER 8 , TEACHER : SUSAN CROSSAN

CHAPTER 9 - TEACHER : SUSAN CROSSAN

CHAPTER 10 - LONGTERM LIABILITES , TEACHER : SUSAN CROSSAN

 CHAPTER 11 - Contributed Capital - TEACHER : SUSAN CROSSAN

 CHAPTER 12 - Corporate Income Statement and Stockholders' Equity - TECAHER : SUSAN CROSSAN

 CHAPTER 13 - CASH FLOWS - TEACHER: SUSAN CROSSAN

CHAPTER 14 - FINANCIAL PERFORMANCE - TEACHER: SUSAN CROSSAN

youtube.com - FINANCIAL ACCOUNTING - CHAPTER 14 - FINANCIAL PERFORMANCE - TEACHER: SUSAN CROSSAN

Financial Performance 1 Overview

Financial Performance 2 Horizontal Analysis

Financial Performance 3 Vertical Analysis

Financial Performance 4 Liquidity Ratios

Financial Performance 5 Liquidity Ratios AR

Financial Performance 6 Liquidity Ratios Inv

Financial Performance 7 Liquidity Ratios AP

Financial Performance 8 Profitability Ratios

Financial Performance 9 Solvency Ratios

Financial Performance 10 Cash Flow Ratios

Financial Performance 11 Market Strength Ratios

youtube.com - FINANCIAL ACCOUNTING - CHAPTER 13 - CASH FLOWS - TEACHER: SUSAN CROSSAN

Cash Flow 1 Statement of Cash Flows Format

Cash Flow 2 Operating Activites

Cash Flow 3 Investing Activites-Investments

Cash Flow 4 Investing Activites-Plant Assets

Cash Flow 5 Financing Activites

Cash Flow 6 Example-operating

Cash Flow 7 Example-Investing

Cash Flow 8 Example-financing

Cash Flow 9 Ratios

youtube.com - FINANCIAL ACCOUTING - CHAPTER 12 - Corporate Income Statement and Stockholders' Equity - TECAHER : SUSAN CROSSAN

Corporate IS SHE 1 Stock Dividends

Corporate IS SHE 2 Stock Splits

Corporate IS SHE 3 Deferred Taxes

Corporate IS SHE 4Tax Computation

Corporate IS SHE 5 ODEC & EPS

Corporate IS SHE 6 Stockholders Equity

Corporate IS SHE 7 EPS & Book Value

youtube.com - FIANANCIAL ACCOUTNG - CHAPTER 11 - Contributed Capital - TEACHER : SUSAN CROSSAN

Contributed Capital 1 Corporations

Contributed Capital 2 Startup and Organization Costs

Contributed Capital 3 Stockholders Equity format

Contributed Capital 4 Sell Stock for Cash

Contributed Capital 5 Sell Stock Finance Building

Contributed Capital 6 Stock Options

Contributed Capital 7 Cash Dividends

Contributed Capital 8 Dividends Declared

Contributed Capital 9 Treasury Stock

Contributed Capital 10 Ratios

 

youtube.com - FIANCIAL ACCOUNTING - CHAPTER 10 - LONGTERM LIABILITES , TEACHER : SUSAN CROSSAN

Long-Term Liabilities -1 Types

 

Long-Term Liabilities -2 Bond Types

Long-Term Liabilities- 3 Bond Price SE4

Long-Term Liabilities -4 Effective Interest Bond Premium

Long-Term Liabilities -5 Effective Interest Bond Discount

Long-Term Liabilities -6 Callable Bonds

Long-Term Liabilities -7 Convertible Bonds

youtube.com - FIANCIAL ACCOUNTING - CHAPTER 9 - TEACHER : SUSAN CROSSAN

FA 9 1 Long-lived Assets

FA 9 2 Long-lived Assets-Buy & Lump-sum Purchase

FA 9 3 Straight line Depreciation

FA 9 4 Units of Production Depreciation

FA 9 5 Declining Balance Depreciation

FA 9 6 Disposal by Trash, Donation, or Sold for Book Value

FA 9 7 Disposal by Sale or Trade-in

FA 9 8 Partial years, Tax Methods, Rate Revisions

youtube.com - FIANCIAL ACCOUNTING - CHAPTER 8 , TEACHER : SUSAN CROSSAN

FA 8 9 Net Present Value Example

FA 8 8 Present Value

FA 8 7 Simple and Compound Interest

FA 8 6 Payroll and Employers

FA 8 5 Payroll and Payday

FA 8 4 Sales and Excise Taxes

FA 8 3 Product Warranties

FA 8 2 Notes Payable

FA 8 1 Current Liabilities

 

youtube.com - FIANCIAL ACCOUNTING - CHAPTER 7 - Cash and Receivables , TEACHER : SUSAN CROSSAN

Cash and Receivables -1 Overview

Cash and Receivables-2 Bank Reconciliation

Cash and Receivables- 3 Accounts Receivable

Cash and Receivables -4 Uncollectible Accounts

Cash and Receivables -5 Notes Receivable

Cash and Receivables -6 Journal Entry Recap

FINANCIAL ACCOUNTING - CHAPTER 6 - INVENTORIES - SUSAN CROSSAN THE TEACHER

Inventories-1 Periodic FIFO

Inventories-2 Periodic LIFO

Inventories-3 Periodic FIFO LIFO Recap

Inventories-4 Periodic AVERAGE

Inventories-5 Perpetual FIFO

Inventories-6 Perpetual LIFO (LIFO IS NO MORE USED - she had posted the video and not removed it that's why giving it)

Inventories-7 Estimates Gross Margin Method

Inventories-8 Estimates Retail Method

 

youtube.com - FIANCIAL ACCOUNTING - CHAPTER 5 - Merchandising Operations , TEACHER : SUSAN CROSSAN

Merchandising Operations-1-Retail Accounts

Merchandising Operations-2-Sales Periodic & Perpetual

Merchandising Operations-3-Purchases Periodic

Merchandising Operations-4-Purchases Perpetual

 

Merchandising Operations-5-Income Statement Perpetual

 

Merchandising Operations-6- Income Statement Periodic

 

FINANCIAL ACCOUNTING - CHAPTER 4 - Financial Reporting & Analysis - TEACHER : SUSAN CROSSAN

Financial Reporting & Analysis 1-Overview

Financial Reporting & Analysis 2-Classified BS

Financial Reporting & Analysis 3-Multistep IS

Financial Reporting & Analysis 4-Liquidity Ratios

Financial Reporting & Analysis 5-Profit&Solvency Ratios

Financial Reporting & Analysis 6-Accounting Conventions

FINANCIAL ACCOUNTING - CHAPTER 3 - Measuring Business Income - SUSAN CROSSAN THE TEACHER

Measuring Business Income 1- Accounting Cycle

Measuring Business Income 2-Adjusting JE Assets & Expenses

Measuring Business Income 3-Adjusting JE Liabilities&Revenue

Measuring Business Income 4-Adjusting JE Accruals

Measuring Business Income 5-Adjusted TB & FS

Measuring Business Income 6-Adjusted TB & CJE

Measuring Business Income 7-Closing Journal Entries

Measuring Business Income 8-T Anatomy and Cash

ACCOUNTING BASICS IN FINANCIAL ACCOUNTING BASICS - - CHAPTER 1 - Uses of Accounting Information and the Financial Statements - TEACHER : SUSAN CROSSAN

Accounting Basics 1- Where did Accounting Come From?

Accounting Basics 2- Accounting Equation

Accounting Basics 3- Assets

Accounting Basics 4- Liabilities

Accounting Basics 5- Stockholders Equity

Accounting Basics 6-Expanded Accounting Equation

Accounting Basics 7- Financial Statements

[ MANAGEMENT ACCOUNTING VIDEOS ]

CHAPTER 1 - BAISCS , CHAPTER 2 - COST CONCEPTS , CHAPTER 3 - JOB COSTING

If you find these videos helpful spread the word if you don't want to please don't ... thanks...

JOB COSTING IN MANAGERIAL ACCOUNTING CHAPTER 3

Job Order Costing- 1 Job & Process

Job Order Costing-2 Cost Flows by T a/c

Job Order Costing-3 Job Order Cost Card

Job Order Costing-4 P6 Sept 1-4

Job Order Costing-5 P6 Sept 8-10

Job Order Costing-6 P6 Sept 15

Job Order Costing-7 P6 Sept 22-27

Job Order Costing-8 P6 September 30A

Job Order Costing-9 P6 Sept 30B

Job Order Costing-10 P6 Sept 30C

Job Order Costing-11 P6 Close OH

EMBEDDED PLAYER - LIST OF VIDEOS IN THE PLAYER

COST CONCEPTS IN MANAGERIAL ACCOUNTING CHAPTER 2 VIDEOS - SUSAN CROSSAN

Cost Concepts-1 Terms



Cost Concepts-2 Income Statements

Cost Concepts-3 Manufacturing Income Statement

Cost Concepts-4 Three Mfg. Inventories

Cost Concepts-5 WIP & OH

Cost Concepts-6 OH 3 Approaches

Cost Concepts-7 OH 4 Steps to Success

Cost Concepts-8 OH Traditional & ABC

STUDENT ACCOUNTANT MAGAZINE OF ACCAGLOBAL.COM GOES DIGITAL SAVING MILLIONS OF PAPER AND POTENTIALLY HUGE AMOUNT

As global ciris are on the heavy side. ACCA has taken the right and bold step by going DIGITAL. The GREEN STEP Will surely be difficult to be taken by the VAST COMMUNITY OF ACCA - Association of Chartered Certified Accoutants still it must be done and they have done it.

All props for the effort.

JUNE / JULY 2009 EDITION

[ QUESTION ] [ AND ] [ ANSWERS ] [ ON ] [ CONTINGENT ] [ LIABILITY ]

WHAT IS CONTINGENT LIABILITY?

- Obligation that may possibly ( take it as 50% likelihood of occurring ) arise from past events not fully controllable by the business.
- A present Obligation that may or may not occur that is why it is not be recognized as a liability.
- An unsure but potential liability.

WHY CONTINGENT LIABILITY IS NOT RECOGNIZED?

- Business cannot determine any future monetary benefits.
- Not reliably information to categorize it as Contingent Liability.

SHOULD THE CONTINGENT LIABILITY DISCLOSED IN FINANCIAL STATEMENTS?

- Yes, they should be disclosed as business sees any probability of it occuring.

SHOULD THE CONTINGENT LIABILITY DISCLOSED IN FINANCIAL STATEMENTS WHEN THE OUTCOME SEEMS NOT PROBABLE?

- No, you should have guessed. And it's right. No need to disclose when business knows it won't happen in a million years ( business analysts and accountants seems sure ).

HOW CONTINGENT LIABILITY SHOULD BE DISCLOSED IN FINANCIAL STATEMENTS?

- By writing notes in Financial Statements. It is not disclosed on the face of SFP - Statement of Financial Position

IF A COMPANY " A " SUES ANOTHER COMPANY " B " IS THE AMOUNT STILL TO BE INCURRED CONTINGENT LIABILITY ?

- Yes, as Company " A " sees the probability of sue case taken up in the court or settling by meeting - Business sees some money exchange between parties. And if the company is found to be guilty then it's no more a Contingent Liability but a Current Liability.


Hopefully, these have cleared your concepts on Liability and mine too. Still have to appear for the paper. Do pray for me.

[ SHARE ] [ THE ] [ LINK ]

<a href="http://studyaccounting.blogspot.com/2009/05/QUESTION-AND-ANSWERS-ON-CONTINGENT.html">[ QUESTION ] [ AND ] [ ANSWERS ] [ ON ] [ CONTINGENT ] [ LIABILITY ]</a>

[ REFERENCES ]

wisegeek.com/what-is-a-contingent-liability.htm
financial-dictionary.thefreedictionary.com/contingency
en.wikipedia.org/wiki/Contingent_Liabilities
scotland.gov.uk/Topics/Government/Finance/spfm/contingentliabs
blog.accountingcoach.com/contingent-liability
investopedia.com/terms/c/contingentliability.asp
citefin.com/333-contingent-liability.html
businessdictionary.com/definition/contingent-liability.html
geekinterview.com/question_details/22180

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