OpenTuition | ACCA | CIMA
Free ACCA and CIMA on line courses | Free ACCA, CIMA, FIA Notes, Lectures, Tests and Forums
View ACCA F3 / FIA FFA lectures Download F3 notes
Spread the word
If you have benefited from our materials, please spread the word so more students can benefit.
To help us keep materials up to do and add new content you can also donate
February 28, 2018 at 12:54 am
pls on the car account why not purchases account? thanks
John Moffat says
February 28, 2018 at 9:05 am
The car is a non-current asset. Purchases is when why buy goods for resale.
Have you not watched the earlier lectures?
February 28, 2018 at 11:09 am
ok.thanks sir i understood.Yes have watched it.
February 28, 2018 at 3:14 pm
You are welcome 🙂
September 30, 2017 at 11:58 am
hello sir, i have problems in recording of purchase return and sale return.is there same ledger for purchase and purchase return or it is separate.and also for sale and sale return. thank you in advance.
September 30, 2017 at 12:07 pm
I do explain the entries for returns in my lectures on control accounts.
For a purchase return we debit payables, and credit either purchases account or a purchase returns account. If we use a purchase returns account, then on the SOPL we show the net of purchases less purchase returns.
July 15, 2017 at 3:56 pm
It is DR because of the original Italian – ‘debere’ 😉
July 15, 2017 at 5:29 pm
It is actually from the Latin word debitum (which is one of the tenses of debere) 🙂
June 27, 2017 at 6:04 pm
Hi! Madarin is my mother tongue. Because of the language barrier, I can’t easily understand my textbooks of F3. Teacher your clear and excellent explanation makes me have a curious and confident mind towards accounting learning! By the way, your accent is really great~ ??????????????????Thank you for your efforts of making videos and notes!?
September 30, 2017 at 12:03 pm
Thank you for your comment 🙂
April 16, 2017 at 10:22 am
Thank you so much for the nice lecture . It was very clear and nice.
April 16, 2017 at 5:46 pm
Thank you for the comment 🙂
March 21, 2017 at 11:37 am
Amazing lecture It was clear and concise Great job Mr Moffat
February 12, 2017 at 1:19 pm
At ”double entry bookkeeping part (a)”, the withdrawals account show the balance of 100. but at the next part, which is part (b), the withdrawals account show difference figure, which recorded as 500.
My question is, is the lectures mistake? or i miss something?
February 12, 2017 at 4:02 pm
If you listen carefully I explain this during the lecture – I am giving an example of a typical sort of mistake that the bookkeeper can make (which becomes very relevant in later lectures when exam questions expect you to know how to correct mistakes).
January 7, 2017 at 5:01 pm
Thanks a lot for lecturer! Clear explaned!
January 7, 2017 at 6:09 pm
And thank you for your comment 🙂
October 13, 2016 at 8:10 pm
Hi thanks for the lecture very interesting and much appreciated. I am new to accounting and i get confused between the debit and credit so where to place what any tips thanks.
October 14, 2016 at 7:50 am
It is just a matter of practice 🙂
September 6, 2016 at 9:18 pm
The lecture is interesting, I like the way of presentation.
I want to clear my one doubt regarding Drawings. While solving the Accounting Equation we had put Drawings on Liabilities side and deducted it from Capital.
In this lecture the balance of Drawings have been debited. Would you please tell me the nature of Account for Drawings? Normally, it has debit balance or credit balance?
September 6, 2016 at 10:34 pm
September 7, 2016 at 6:06 am
It is indeed a debit balance (which as you will see in the following parts of this lecture serves to reduce the capital, which is a credit balance because it is owing to the owner).
September 7, 2016 at 8:40 pm
Mr. Moffat, thanks for the answer.
But you did not tell the nature of Account.
It fall under which type Personal, Nominal or Real?
September 7, 2016 at 8:58 pm
I answered your question – you did not ask for the ‘nature of the account’.
There is no such thing as “personal, nominal, or real” and so I have absolutely no idea what you are talking about.
On the assumption that you are studying for ACCA Paper F3 then I suggest that you watch all of my free lectures – they are a complete free course and cover everything needed to be able to pass the exam well. They do not cover “personal, nominal, or real” accounts because they do not exist 🙂
September 10, 2016 at 9:50 pm
Mr. Moffat, when we come across the books of Financial Accounting, we come to know about the types of Accounts.
Real Account — Record Assets and Liabilities Nominal Account — Record all losses (expense) and gains (Income) Personal Account — Related to an Entity/Person
My question was in what category Drawings / Withdrawals would fall from the above.
I did not get your idea as you have mentioned “Personal, Nominal or Real” account do not exist.
Would you please elaborate you concept?
September 11, 2016 at 7:34 am
I repeat – in UK accounting and in what is examined the ACCA exams, we do not have ‘real, nominal, and personal accounts’, and there is therefore nothing for me to elaborate. The lectures cover everything you need to be able to pass Paper F3 well.
September 11, 2016 at 6:10 pm
My doubt is been clear.
Thank you Mr. Moffat for your kind efforts.
September 11, 2016 at 6:52 pm
August 11, 2016 at 7:21 am
insteade of dr purchase with payable can we write MR A and at the same time have MR A account and there credit purchase?
August 11, 2016 at 2:44 pm
You can, although usually there is just one payables account. (Details of individual amounts owing are usually recorded in a separate ledger which is not part of the double entry – this is dealt with later in the chapter on Books of Prime Entry).
However for the exam it is not really relevant because you will not be asked to write up t-accounts.
August 12, 2016 at 4:06 pm
Thank q Sir
August 12, 2016 at 4:27 pm
May 19, 2016 at 4:52 pm
as we know journal is one of day books where we record unusual transactions but i saw before preparing ledger accounts/t accounts we pass entries of all transactions in journal which are not unusual i am confused why we do so ? just in order to assist students so that they can pass right entries in ledger accounts we use that journal is it so??
May 11, 2016 at 2:07 am
I want to download “double entry” the video on lectures but am failing
May 11, 2016 at 6:42 am
Lectures can only be watched online – it is the only way that we can keep this website free of charge.
June 23, 2016 at 4:36 am
I can’t even watch videos. Can only hear the voice, but no viewing what is being said.
June 23, 2016 at 7:08 am
The lecture is working fine (the viewing starts after about 3 minutes).
June 25, 2016 at 1:52 pm
Started watching online. Its excellent and easy to understand. I have enjoyed the first lecture.
June 25, 2016 at 6:12 pm
March 30, 2016 at 11:35 am
Oltimo! This is Great!! This is a simple way of learning and mastering ledger entry and tial balance… do you know what?? I was finding this part of accounting very difficult, but today, I have understood every bit of every part of it… Thank you Mr John Moffat. God Bless opentuition sponsors….
March 30, 2016 at 12:38 pm
You are welcome, and thank you for the comment 🙂
You must be logged in to post a comment.