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ACCA F3 Bank Reconciliations (b) Example 1
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thank you very much!
You are welcome 馃檪
Great. Thank you.
You are welcome 馃檪
Good day, What figure is used in the financial statements, the cash book balance or the bank statement balance?
Hilarious! 馃榾
Thank you for these lessons, they’re great!
You are welcome 馃檪
Sir can anyone “Credit Transfer” to my bank without my permission?
Yes they can (but who would tell them your account number? Probably it would be you 馃檪 )
continue doing a great job!!! Mr Moffat!
Thank God for Open Tuition
well explained lecture.
a perfect lecture for the ones dealing first time with the bank reconciliation… 馃檪
I too totally agree! May God bless you Sir Moffat! 馃榾
excellent lecturer
ThnXxxxxxxxx
This lecture video is hilarious. Very funny one, thank you for the wonderful lecture and the jokes.
Is direct debit not like an increase in our bank balance? Because ‘debit’ increases the cash balance? Respond
@chandhini, Respond?!!!!
A debit on the bank statement is a payment. Direct debits are automatic payments (and therefore a credit in the cash account).
@johnmoffat, If that is the logic,then how are credit transfers assumed to be a tranfsfer from our A/c instead of a trasnfer to our A/c?
@chandhini, *transfers
@chandhini, I know it is confusing but blame the UK banks, not me 馃檪
They call it a credit transfer because you are transferring money to the credit of someone else’s account.
@chandhini, Direct debits are initiated by the person receiving the money from us – they simply tell our bank how much money that want out of our account.
Credit transfers are initiated by the person who is paying the money – we tell our bank to take the money out of our account and credit someone else’s account.
@johnmoffat, I’ve got it now! Thanks! 馃檪
Thanks! 馃榾
@chandhini, You are welcome 馃檪
hhaha im sure i will not have problem with understanding “direct debit” from now on :P…especially with tht example
lectures are awesome , very helpful . thank you so much OpenTuition.com
brilliant stuff
superb
good
i’m in love with the lecturer and his smashing British accent. <3
excellent
excellent keep up the good work.
8)
very good explanation and the example you gave about the old lady is hilarious 馃榾