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The Statement of Financial Position and Income Statement (part b)
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good day,
HELP, i am unable to view the lectures for F3, can anyone help me. i can only see the first topic and every thing else blank.
Can someone tell me where could I find the answers to the text (e.g. question 1, question 2…) in the paper?
I have done the exercise after the examples but don´t know wether they are right.
Thanks for the reply in advance!
If you mean the tests in the course notes, then try looking at the end of the course notes!
(They are also listed on the index page)
The lectures are working fine – it is either your internet connection or try using a different browser.
great explanation
Hi – One thing I didn’t get, why would we consider wages and salaries as (drawings)? Just because it was taken by the owner? From what I know wages and salaries are considered to be business expense called salaries expense or so and yes they are deducted from the capital but they are not called “drawings”, drawings are what the owner takes out the capital for his own personal use, can you explain please?
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really helped a lot….. very well explained in details… thank you so much open tuition
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Can this statement be also considered as drawings:
1. Withdrew cash for business use.
it could be used as expenses
At the financial year end on June 30 2011 the invoice was not paid. Part of the invoice relates to the current financial year and part relates to the next financial year.
@acca0393, So Debit expenses 200 and Credit accruals / payables 200
Good tuition. I have a question. The financial year ends June 30, 2011. I have received an invoice for $1,200 for insurance which runs from May 1 2011 to 30 April 2012. What is the treatment of this invoice in the income statement and statement of financial position for the year ended June 30, 2011?
@acca0393, Have you paid it?
Where are the descriptions for the terminology Revenue, Purchases and Trading Account at the end of section 4?
This one was very helpful
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I am an ex computer programmer, came in to do ACCA after number of redundancies in IT, which was kept on evolving at such a pace, coud not take it anymore. I started studying ACCA about 9 weeks ago. This debit and credit, left and right entries was totally alien to me, nowhere near Programming languages syntaxes. Even though I am studying ACCA syllabus at an Accountancy college, my tutors could never explain the way, the tutor here at opentution explains – 10 out of 10. My sincere heart felt thanks to you, the relaxed well toned tutor & whole team of opentuition.
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I cannot download the notes :S
Thanks for such a nice video!!!!!
Thanks so much my dear OP
Drawings dont go in the income statement.
Hi there,
Good lecture.
Do drawings go into the income statement?
They’re obviously not the same as wages/salary, but would they go under ‘expenses’?
Thank you
yes they should obviously go under expenses because they are assets of a company withdrawn from it
@buteur, they go in the balance sheet
@buteur, They most certainly DO NOT go into the Statement of Income!
THIS/ IS/ GOOD!
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Thank you very much. Well explained!
Nice one…. Continuing to next…
Thanks for such a nice video!!!!!
I am really grateful to opentuition.com. First I took the help of our local ACCA tuition provider. But they were unable to solve my problems and understand my condition because I was from humanities department and I never had accounting related subject. I felt lots of problems to understand the mathematical terms of F3 . But now I am fearless. Opentuition is giving me all the supports and essential notes which I need. Especially I would like to thank the teacher and the tuition provider whom I hear in on-line. He is really cordial and excellent in teaching. please, give my especial thanks to him.
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