1. Profile photo of Rustam says

    Mr John, according to DEAD and CLIF theory: (DRs)? in Drawings results in ? in Assets (cash). or ? in Trade rec. leads to ? of cash. ive just started but i am really interested in more thorough understanding of this genius table. maybe original invention would help… and could you explain other features, please. why EXPENSES ASSETS DRAWINGS are Debits; CAPITAL LIABILITIES INCOME are Credits? debits are all inwards, yes but what about drawings? just because they ? the Capital introduced? or could i think of them like negative figure under the debits?
    Thank you Sir.

    • Profile photo of John Moffat says

      The best will be if you watch the next lectures in the course which go through double-entry bookkeeping, because there I explain why debits are debits, and why credits are credits (and why drawings are a debit – yes, they are like negative capital). I do explain it all in the lectures, and you can understand that I cannot type out all of the lectures here :-)

  2. avatar says

    Dear sir,

    Good day,

    Last year I make use of your F1 material and I pass with 60%. Thank you open tuition.
    I just start study for F3, enjoy the lecture so far… I believe I will make the paper as well.

    Thank you open tuition for making this materials available to us.

    Warm regards.

    Ayodeji Ajayi.

  3. avatar says

    I just started studying the lecture notes simultaneously with the videos and I must confess it has been seamless.I just understood the basic foundation ignoring the debit and credit as you advised. I am moving to chapter 2b and I hope it continues to be this easy to understand. I am planning to take F1 F2 and F3 come June.

    Thank you open tuition.


    • Profile photo of John Moffat says

      We record for the business as if it is separate from the owner.
      So if I give money to the business so that it has cash in the bank and can afford to buy machines etc., then I have lent money to the business and the business owes that money to me.
      It is not the dividend (for a sole trader there are not dividends – there are drawings. The lecture does stress this.). If the owner gets money back from the business then there is less owing to the owner.

  4. avatar says

    Hi, I am studying for Diploma in IFRS, December 2014. A friend has suggested that I follow the lectures for F3, F7 and P2 to clear that exam. However, please advise, if that would be sufficient or do we have separate tutorials for the diploma exam?

    A reply would be much appreciated. Thanks!

    • Profile photo of John Moffat says

      Your friend is correct (although you do not need all of the lectures – best is to have the DipIFRS syllabus in front of you). It is mostly F7 and P2 (F3 is only a few IFRS’s and is fairly basic) – F7 and P2 get more advanced,

      We do not have separate lectures for the Diploma, I’m afraid.

  5. avatar says

    Thanks Mr. John I personally follow your lecture videos, and so far I did my F2 and F3 but I successfully passed all of them. I want to seize this opportunity once again to thank you, keep up the good work.

    • Profile photo of John Moffat says

      In part (c) they bought goods for $1,000.
      In part (d) they bought more goods for $2,000.

      So the total cost of the goods they have is now $3,000.

      In (f) they sell half of them and so we have absolutely no choice but to assume that if all of them cost $3,000, then half of them must have cost $1,500.

    • Profile photo of John Moffat says

      It means that in the financial statements we should show the true economic effect of a transaction (the substance) even if it is different from the legal position (the form).

      This is covered in the later chapter and lecture on accounting conventions.

  6. avatar says

    Greetings Kind Sir.
    I just wanted to say THANK YOU SOOOOOOO MUCH. I find your videos very intuitive. With your effective teaching methodology, I was able to solve a question regarding the equation of financial position (Assets= Capital + Liabilities) in a revision kit of mine (BPP Publications) . I honestly can’t thank you enough, you truly deserve a round of applause, a standing ovation even. Hats off to you sir! Why I must say I’d give you a hug right now if I could. Oh, and the lecture notes indeed are a bonus! I’m currently doing CAT and once I came across this heavenly website, I was simply too bewildered to think that such a marvel even exists! The lectures on Cost Accounting too have made my life pretty easy. My lecturer isn’t particularly helpful for Management Accounting, and the videos posted under the F2 Lectures were more than helpful for me to be self-reliant in revising, all thanks to you good sir. Keep up this spirit, may you be blessed for all your merits!! 😀

  7. avatar says

    In the 2nd chapter of F3,regarding the example , i did the trail balance for that.But in trail balance in debit side i get 16400 and in credit side i get 16800.Please let me know what is the mistake i would have done.
    but the income statment, i did right.I got gross profit 2200 and net profit as 2000 as you did in the lecture.
    Help me out please.

      • avatar says

        Iam not able to find answer.Iam giving my trail balance below.
        Trail balance
        Cash 5800 10000 capital
        shop 2000 1400 payable
        purch. 3000 5200 sales
        car 3000 200 electricity
        receiva 1400

        TOTAL 16400 16800 TOTAL

      • Profile photo of John Moffat says

        But in the second chapter there are no debits and credits, and no trial balance!!

        Watch the next lecture to see how we do the debits and credit and how we prepare the trial balance (it is trial balance, not trail balance :-) )

        (I don’t know why you bothered with debits and credits and a trial balance, but anyway the electricity is a debit not a credit. Then it will balance :-) )

  8. avatar says

    Hi Mr.Jhon im doing F2 & F3 exams this december following only your lectures and notes. Is it well enough to pass my exam (i mean is it all syllabuscontents included in your lecture and notes?) if i study those properly?

    Your lectures are great and easy to understand.

    Thank you

    • Profile photo of John Moffat says

      The Course Notes and lectures contain enough to be able to pass the exam well.
      However you must get hold of a Revision/Exam Kit from one of the approved publishers – practicing questions is most important of all, and these books contain lots of questions to practice.

  9. Profile photo of kulola says

    i actually didn’t know some thing very important but after i saw this video am very much at peace concerning the problem i had which has been solved finally
    thanks open tuition and keep up the good work

    • Profile photo of John Moffat says

      That is impossible to say – it depends on how much time you have available and how easy or difficult you find the topics. Everyone is different!! You should be able to manage it in one of two months, but so much depends on the above.

  10. avatar says

    Hi! Can anybody help me? Ever since I upgraded my asus transformer infinity from android 4.0 to 4.1, I’ve been unable to play these videos (as well as other flash videos from other sites). How can I watch the videos?

  11. avatar says

    i never liked school but this tutoring was so great it makes me never wanna leave school, am so thankful for it, please keep up the good work guys and help the slower in understanding people like myself.

  12. avatar says

    I am unable to watch these lectures anymore, can anybody out there explain what’s going on??

    Exams are in two weeks and this is giving me hard time to watch, giving message of crash adobe player despite of having re-installed the software, other sites perfectly work only opentuition has problem, is this a pause ??

  13. Profile photo of elly says

    highly explanatory, well laid out and the pace of lecture is sound and clear. higly commendable especially if one has a difficulty with grasping the foundational terms.. this lecture made it so clear. thanks so much Open Tuition!

  14. avatar says

    All the lectures are good and clear but some of you should look through the site and maybe print the notes to stop asking poor admin man the same questions… try and use a bit of initiative for gods sake!
    Good stuff and better now that you have sorted out the order of the videos.

  15. avatar says

    Awesome one….
    Just that, sometimes I feel, there is some noise as if the lecturer / tutor is chewing or eating something… don’t know if that’s true anywhere, but I felt some such voices.. Otherwise, really awesome video. Meant a lot to me!


Leave a Reply