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April 15, 2016 at 5:04 am
Hi Sir, what is the different between matching concept /accruals concpet and duality concept? Can U explain thank you…
John Moffat says
April 15, 2016 at 6:59 am
The accruals concept is that revenue should be recorded when earned, not when the cash is received, and expenses should be recorded when incurred and not when the cash is paid.
The duality concept is that every transaction has two effects – i.e. double entry
April 15, 2016 at 8:24 am
April 15, 2016 at 9:46 am
You are welcome 🙂
January 28, 2016 at 2:19 pm
Hi! Your lectures helped me a lot! But where can I find video about Capital structure – share premium and so on?
January 28, 2016 at 5:22 pm
Under company accounts.
The lectures are meant to be watched in order – they are a complete course for Paper F3 and cover everything needed to be able to pass the exam well.
November 3, 2015 at 1:58 pm
Can somebody. Please tell me the topics they did in their exam ..what was the questions like?
November 3, 2015 at 2:28 pm
If you want to ask things like this, then ask in the relevant forum – not as a comment on a lecture.
Every exam is different. You should buy a Revision Kit from one of the ACCA approved publishers. Also, the ACCA has specimen exams on their website.
October 22, 2015 at 1:17 pm
Hi. Where can I find lectures for contingency of assets and liabilities.
October 22, 2015 at 4:18 pm
In future please ask this sort of question in the F3 Ask the Tutor Forum and not as a comment on a lecture about something else 🙂
The list of free lectures is on this page:
Contingent assets and liabilities are covered in chapter 5 of the free lecture notes and the free lectures that go with them
(Our lectures are a complete course for Paper F3 and cover everything you need to be able to pass the exam well).
May 22, 2015 at 11:34 am
Hi John, How does revenue deal with companies understating profit by companies using high depreciation rates to avoid some corporate tax.
May 22, 2015 at 11:39 am
This is not relevant for Paper F3.
However I do explain what happens in the lecture on depreciation (and I cannot type out the whole lecture here!).
abhinandh dileep says
December 19, 2013 at 10:47 am
passed f3 today with 72%… paper was too tough…
December 19, 2013 at 3:52 pm
Congratulations – 72% is a good mark for an ACCA exam 🙂
September 4, 2013 at 11:04 am
In the course notes, in the first paragraph, there’s a mention of STUDY TEXT.. May I know which study text are you referring at please???
September 4, 2013 at 11:31 am
Any Study Text from one of the approved publishers will contain a chapter on accounting conventions. If you are unable to access a study text then you will find more using Google.
Also see my answer to Jim below.
September 4, 2013 at 10:25 am
Any thing on money measurement concept?
September 4, 2013 at 11:29 am
Not in our notes. Appreciate that the Course Notes are not intended to replace Study Texts but they do contain enough (along with the lectures) to be able to pass the exam reasonably easily.
The concepts and conventions that we have listed are the more important ones for the exam.
September 4, 2013 at 12:52 pm
July 19, 2013 at 2:58 am
under the substance over form concept, it says assets hired and used in the business should be shown in the balance sheet. My questions are
1. if this is shown, does it make the accounts true & fair since it may be perceive to be for the business by users
2. then if it should even appear in the balance sheet why not at the liabilities side since it is an obligation to the business so far as the asset is in the premises
3. Will the asset be shown at hired value or cost or net book value?
4. Will it be depreciated in the business books or the owners books
5. when it is sent back to the owner how will it be remove from the business books?
July 20, 2013 at 8:48 am
Substance over form says that the financial statements should show the financial reality of something rather than the legal position.
In certain circumstances leased assets may be an example of this.
Accounting for this is not relevant for Paper F3 (not until Paper F7), however basically what happens is that it will appear as an asset (because it is used by the business just as if they owned it) and depreciated as normal.
At the same time there is a liability on the balance sheet – the logic being that leasing and making the lease payments is effectively the same as having borrowed money to buy the asset and then having to make repayments on the money.
Again, it does not apply just to any leased asset – it depends on the circumstances – and all that is required for Paper F3 is knowledge of the first sentence of this answer.
July 20, 2013 at 6:09 pm
Thanks very much johnmoffat for the reply and explanation
February 27, 2016 at 10:27 pm
doing a consolidated financial statement that is also an eg of substance over form
June 13, 2013 at 2:13 pm
im failing to play the vedios pliz help
February 27, 2013 at 4:28 pm
he is teaching a girls classssssss ./,./,./,./,/,/,.
October 2, 2012 at 3:57 pm
I love the lecturer! funny!
July 8, 2012 at 9:02 pm
Can anyone tell me where to find the contingent asset and liability video lecture ?? plzz im not getting that
August 2, 2012 at 10:20 am
@rezwan7, There is no lecture at the moment – only the chapter in the course notes.
I will upload a lecture in the next few weeks.
June 25, 2012 at 6:19 pm
where can i find the lecture on contingent liabilities and assets by John Moffat?
May 9, 2012 at 8:08 pm
April 17, 2012 at 2:50 pm
My listen skill isn’t so good so it is too difficult for me to understand without presentation.
February 21, 2012 at 3:48 pm
Not seeing anything on partnership
April 17, 2012 at 2:56 pm
@nattyslim1, partnerships are no longer in the syllabus.
$eep Rock$ says
January 26, 2012 at 10:44 pm
it is playing
November 4, 2011 at 8:10 pm
its not playing
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