i'm an Engineering student and i'm doing CA also. This is very useful to me. Thank you sir.
@harrietnyapidi2978
3 жыл бұрын
Wow,very clear and straightforward lecture. Thanks lecturer
@dpurnimaa64
2 жыл бұрын
thanks for the awesome explanation!
@matusariwu2457
Жыл бұрын
Thank you sir
@tkhue3296
4 жыл бұрын
one more concept cleared . Thanks
@egzon
3 жыл бұрын
Hello, Awesome Lectures and congratulations for your work. However, I have a concern or a question, so to say. If we pay insurance for the car every year, would that be considered as a capitalized expenditure for the car or as a normal revenue expense? If it is a capital expenditure, do we have to add the insurance cost for the car (or maybe even repairment costs) to the value of the car at the end-year or should it be registered in the Financial Statement of Profit or Loss as a separate expense not related to the car value nor depreciation?
@opentuition
3 жыл бұрын
Insurance is a revenue expense :-)
@issiwarakavinda4056
3 жыл бұрын
cupiri sir
@blackm9063
3 жыл бұрын
Great!!!
@DuongNguyen-uv7te
Жыл бұрын
So as Professor said, what if it on 15th April, 8 or 9 months? for pro rata?
@opentuition
Жыл бұрын
You could do either, but as I also said they won't play games in the exam :-)
@khushijain4984
3 жыл бұрын
after deducting depreciation why are not showing it in book value rather then cost??pls reply i have commented on your 3videos but you have not answer any of them :(
@opentuition
3 жыл бұрын
Our tutors do not regularly check here. If you have any questions you should ask them in the Ask the Tutor Forum on our free website - we always reply to questions there within 24 hours. On the SOFP we always show non-current assets at the book value. We keep the cost and the accumulated depreciation separate in the t-accounts because we are required to show the breakdown of the book value (i.e. cost less depreciation) with the SOFP.
@wadew6300
4 жыл бұрын
we assume the car's useful life is 5 years, what about after 5 years we are still using the car?
@opentuition
4 жыл бұрын
Then we stop depreciating it and the carrying value is zero :-)
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