IGNACIO, MARIA ALELIE BLESS V.

BSAIS 2-A-1

WEEK 2

Internal Controls over Cash | v2020 (Ep. 48)

- I learned about this lesson or topic is the POS also known as Point of Sale terminal
merchant calculates the amount owed by the customer, cash drawers that puts the
payment of the customer in any convenient store, and at the end of the day you need to
deposit how much you have sold.

Bank Reconciliation | v2020 (Ep. 49)

- What I have learned in this topic is the Unrecorded Credit memo are not recorded in the
balance per book, and the Secret to having a smooth bank recon is knowing your
reconciling items.

Petty Cash Fund | v2020 (Ep. 50)

- I've learned in this topic is If you have a collections, payment, disbursment the payment
should be issues through checks, you need an rotary fees, and there are 2 systems or
method in Petty Cash Fund Impress Fund System and Fluctuating System.
Reconciling Items MCQ Exercises | Theoretical

- I got 6/10, nalito lang po ako ng kaonti

Bank Reconciliation Simple Illustration | Problem Solving MCQ

- I try to solve and answer this problem and got the wrong answer in the first attempt
because I was confused with the amount that I computed but in the 2nd attempt I analyze
it very well and I followed the computation.

Accounting for Petty Cash Fund | Problem Solving Illustration

- In the question number 1, I was confused because I thought the paid vouchers will be
included in the computation. Then after I compute and got the wrong answer, I listen to
your explanation sir A how to get that amount of petty cash fund then after you explained
na-gets ko na po kung paano icompute.

Petty Cash Fund MCQ Exercises | Theoretical

- I GOT 7/10 Because in number 4,7,8 I got confused with the questions and also the
answer, but after I answered I watch again the video lecture to know and understand it.
Bank Reconciliation Illustration | Moderate Difficulty

- In this video lecture , first you need to analyze the reconciling items, second you need to
understand the computation that's given to the video lecture and compute on your own.

Bank Reconciliation Illustration | Cash Balances per Bank Statement &

Ledger | Problem Solving MCQ

- It's important to understand whether an item is for adding to your balances or bank/book
reconciling and also it's important to analyze the questions, solutions, and problems that
given.

Correct Cash Balance Illustration MCQ Problem Solving

- Checking account Morgan bank is not included because of the overdraft, Foreign bank
account is not restricted, Postage Stamps is expenses and IOU is a receivable. then I
followed the computation to understand it and analyze.
WEEK 3

A Brief Introduction to Financial Instruments

- In this video lecture I learned about the financial instrument is a contract between 2
parties wherein the other party will be receiving financial asset and the other party will
rise financial liability or equity instrument. IFRS 9 establishes the financial reporting
principles for financial assets and financial liabilities particularly their classification and
measurement.

Cash and Cash Equivalents

- In this video lecture, I learned about that cash is any item used as a standard medium of
exchange. (e.g Paper bills and coins), Cash is any item accepted by the bank or other
financial institution for deposit at face value (e.g Paper bills and coins, Checks, Bank
drafts etc.) and the Criteria how to recognized as cash (or cash on hand and in banks).
Proof of Cash Illustrated and Explained

- I learned about this video lecture is how to compute the deposits in transit, outstanding
checks and a proof of cash

WEEK 4

Receivables Overview | Initial Discussions

- In this video I learned about the Nature of Receivables it represents any legitimate claim
from others for money, goods and services, claims that are expected to be settled by
receipt of cash, and there are 2 kinds of receivables or classification according to source (
Trade Receivables and Non- Trade Receivables)
Accounts Receivable | Trade & Cash Discounts; Credit Card Sales

- In this video lecture I learned about that the Trade Discount is the reduction of the price
to convert the list or catalog price to an amount to be actually change by the customer,
Trade discount is not recorded and is given to promote sales or to encourage trading.

Promissory Notes | v2020 (Ep. 56)

- In this video lecture I learned about that promissory notes is secured right to receive cash
evidenced by a formal promise to pay. A promissory is a written promise by one party to
pay another party a specific sum of money at a future date.
Accounting for Interest Bearing Notes Receivables

- What I’ve learned in this video lecture is a note or draft that provides for the payment of
interest for the period between the issuance date and the due date is called an interest-
bearing note. On the date of the receipt of the note, the present value of an interest-
bearing note, which bears a realistic interest rate. Is equal to its face value.

Accounting for Long-Term, Non-Interest-Bearing Notes Receivable

- The face value of the notes receivables and the present value of the notes receivables
were determined by multiplying the notes receivables by the present value factor of a
single payment appropriate to the time period. In addition, when an installment payment
is made and both the buyer and the seller get payments.
WEEK 5

Accounting for Long-Term, Interest Bearing, Installment Notes

Receivable

- In this video lecture, I learned about that how to compute the Interest Value, Principal
Payment, and the Total Due of the Long Term Interest Bearing.

Receivable Financing

- In this video lecture discussed the Receiving Financing, that companies requiring cash to
finance its operational need to finds it necessary or desirable to accelerate cash inflows
from receivables by either selling its receivable or using them as collateral for loan
engagements.