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far cpa review allowance method bad debt

If a company is bad debt expenses that are a material item on the income statement. They are required to use the allowance method of accounting for bad deaths in the allowance method. We’re going to estimate the accounts that we think will go bad, and set up a provision on our balance sheet on an allowance, on our balance sheet for the accounts that we think will go bad. So it’s a very different approach the allowance method because now we estimate the accounts we think we’ll go back and set up an allowance on our balance sheet for the accounts we think we’ll go back. Disclaimer: These Bisk CPA Review videos were last updated in 2015 and are for entertainment purposes only. These CPA Exam prep videos are old. You should assume that most of the CPA Review content in these videos is outdated and not suitable for […]

reg cpa review elements of contract

This is Elements of a Contract for the CPA Exam, and I’m Jack Norman, I’ve told you that there are seven key elements that are required to have a valid and enforceable contract. And here I’ve got a mnemonic for you that is going to become impressed upon your brain. For contract law on the CPA Exam. A cold sip of cola. A cold sip of cola. Now, this stands for A. The agreement, two parties must come to an agreement. See, consideration is required to have a valid and binding contract. As the statute of frauds, certain contracts must be in writing in order to be valid. Disclaimer: These Bisk CPA Review videos were last updated in 2015 and are for entertainment purposes only. These CPA Exam prep videos are old. You should assume that most of the CPA Review content in these videos is outdated and not suitable […]

bec cpa review corporate governance

Welcome back to the Corporate Governance section of BEC for Bisk CPA Review online learning, I’m Jennifer Louis, CPA and we’re going to talk a little bit more about the specific qualities, duties, and responsibilities of the board of directors. If it’s been a while before, since you looked at the first section that dealt with definitions of what a board of directors is, I’d like you to go back and revisit that really briefly just look through the outline refresh yourself and remind yourself about what the definitions are for the different terminologies that you’re going to be hearing as we go through the section and then come back and pick up this BEC CPA Exam section. Disclaimer: These Bisk CPA Review videos were last updated in 2015 and are for entertainment purposes only. These CPA Exam prep videos are old. You should assume that most of the CPA […]

aud cpa review unmodified opinion audit report

In this auditing class, we’re really going to be talking about Step Six in the audit process. When we form our audit opinion and issue our audit report and you know what the client wants you to know that what the client wants out of any audit. He wants an unmodified opinion. He wants a clean opinion. An unmodified opinion. So I think that’s a good place for us to start. How does your client deserve an unmodified opinion? Disclaimer: These Bisk CPA Review videos were last updated in 2015 and are for entertainment purposes only. These CPA Exam prep videos are old. You should assume that most of the CPA Review content in these videos is outdated and not suitable for CPA Exam preparation or for any other professional purpose. These videos are strictly for nostalgic viewers who already have their CPA license and can discern current accounting, auditing, […]

far cpa review cash accounts receivable

Welcome back. In this FAR CPA Review class, I want to begin our discussion of the asset side of the balance sheet. Let’s start with cash. Now there’s not a lot to study with cash but there are a few things that you have to be careful about first of all what you put in a balance sheet. Under the heading cash must be money. That is free and clear and available to be spent in current operations. Disclaimer: These Bisk CPA Review videos were last updated in 2015 and are for entertainment purposes only. These CPA Exam prep videos are old. You should assume that most of the CPA Review content in these videos is outdated and not suitable for CPA Exam preparation or for any other professional purpose. These videos are strictly for nostalgic viewers who already have their CPA license and can discern current accounting, auditing, tax, […]

reg cpa review types of contracts

I’m Jack Norman, and in this REG CPA Review class, we’re discussing Types of Contracts. A contract is an express or implied legally binding agreement between two or more persons to perform. Or perhaps not perform some specific undertaking a contract is a meeting of the minds. The result of both an offer, and an acceptance. Now there are seven elements of a valid contract. And we’ll review these in greater detail, a bit later. But first, let’s talk about types of contracts. There may be a bilateral contract, which is a promise for a promise. One person promises to do something, the other party promises to do something in exchange for a unilateral contract. On the other hand, is a promise for an act, and is very often it’s something like a reward. Disclaimer: These Bisk CPA Review videos were last updated in 2015 and are for entertainment purposes […]


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