Bank reconciliation and illustration

Assalamualaikum and dear students

This is an additional notes for bank reconciliation. I also include a video explaining what it is all about. The example I used for the explanation can also be downloaded using the link provided below. Should you have questions regarding the bank reconciliation, drop me a line and I will try my best to assist you.

Exercise for an example

Powerpoint notes for bank reconciliation

Suspense Account of the MCO

Assalamualaikum and dear students,

Since we are still in the MCO, here is the suspense exercise. I hope you can attempt this question as the solution I will post later in the same posting.

Stay home and don't go wandering around. Just sit tight and do this exercise. It is for your own good!.

Exercise 4 - Error and suspense account - BELLA

Accounting Equation - Extended version

Assalamualaikum and  dear students,

As you all have learnt that the basic accounting equation consist of THREE main component that is ASSET, LIABILITY and EQUITY. The equation is none other and definitely ASSET = LIABILITY + EQUITY.

As for the extended version of accounting equation, I have broken the equity component into 4 elements. These 4 elements made up the total for the equity and those are Capital, Revenue, Expenses and Drawings. 

The changes or movement in these 4 elements will affect the changes in Equity. For example, the owner put more funds into the business, then the capital will expand. The increase in revenue exceeding its cost of sales or expenses thus resulting in profit will also affect the changes in the Equity. If the expenses is more than its revenue, then the Equity will decrease and drawings will also result in the capital reduction.

Please take note that, when we change to extended accounting equation, there will no usage of inventory as it will be put under expenses. This is due to the business having its own cost. First is the cost of sales and the other is normal operating expenses. Then, we eliminate the inventory element in the asset and replace it as expenses.

Attached below is the link to the exercise for you guys to download and I also made a video for its solution. Be kind to me to subscribe my channel and I will try further to improve my publication.

Download the link below for the exercise.

Extended Accounting Equation

Gosh!!! It is final exam week!

It's Sunday...Chill out!

Lost count of the days. It is Sunday right? But hey, as long as you stay at home, it is okay. We are going through this together. Don't know to do at home?  Create something useful, learn many things from the internet, recite Quran or worst you can just sleep for the whole  MCO period.

As for me, I still need to learn. Many things that I don't know with limited time available. Spend it wisely... Now, let's ROCK!

Preparation of Financial Statement - Stage 5 Solution

Assalamualaikum and dear students

This is the final stage of the preparation of the basic financial statement from a trial balance. It is normal of the question or the trial balance is longer compared from what you see in the video. I haven't put in depreciation calculation as well as the adjustments of accruals and prepayment yet. But for the meantime, just get yourself to know how to prepare this statement.

Here is the solution

Preparation of Financial Statement - Stage 4 Solution

Assalamualaikum students

For stage 4 solution I put additional items such as discounts received and drawings. So you can watch the video and listen to the explanation of what they are all about. In the end, we should get the final accounts balance. Check carefully one by one the numbers you keyed in as it could make your final accounts not balance.

Preparation of Financial Statement - Stage 3 Solution

Again, not the same question but still using the same method of doing it. This time the trial balance is a little bit longer than the previous with additional items added to make it more complicated. But hey, wait till stage 5 ok. Now I just show you how to beat the Stage 3.

Preparation of Financial Statement - Stage 2 Solution

Ok guys, here is another video for the solution for the stage 2 regarding the creation of financial statement from a trial balance. Of course stage 2 is quite ok and still manageable since I put few items in the trial balance such as returns inwards and returns outwards. Stage 3 is still in the studio preparing what is unprepared.

Hopefully you guys can take a look at the video for better understanding. Stage 3 is coming!

Relevant Cost - Make or Buy Part 2 Solutions

How it ends....

Finally the saga between Lebai Mat and Pak Man has ended. What will happen to Pak Man? How Lebai Mat handling the situation? Click the video for the exciting solution between those two.

Preparation of Financial Statement - Stage 1 solution

Please refer to the video for the solution for Stage 1

Preparation of Financial Statements

Assalamualaikum and dear students

You can find the attachment below for your exercises. This exercise is for you to prepare for your coming examination. Prepare statement of profit and loss as well as statement of financial position. InsyaAllah I'll be making the video for the solution later. Download and try it first ok.


Exercises in stages

Relevant Cost - Make or Buy Part 1 Solutions

Assalamualaikum and dear students,

At last the solution foe the Part 2 saga has been completed. Please be reminded that, there is a slight change in thee question regarding the labour hours. It should be 0.5 for Songkok and not 0.25 as stated. Just change the number and you will know when you watch the video later on.

Enjoy the video!

Relevant cost - Make or Buy

The saga between Lebai Mat and Pak Man regarding the make or buy decision. Will Lebai Mat able to calculate the relevant cost of his production? Will he accept the offer made by his old rival Pak Man? Should they reconcile between them under the name of relevant cost?

Don't miss the exciting video specially made for you.....

Online teaching and learning

It has been decided that the Online Teaching and Learning will be conducted during this time. What about for those who are not having a PC or laptop at home. Some people will say, at this modern age, at least we should own a computer at home. I don't care what people say, but I'm not having one right now. Don't blame me if I cannot deliver good content because I'm doing it using my old mobile phone. Easy to say than done!

Makcik Kiah PKP - A cashbook exercise

Assalamualaikum and dear students

I take this opportunity to give you this exercise and some of you may treat this as Quiz (FA1 students). Download this question and try to settle this within 40 minutes.

Makcik Kiah PKP

Relevant Cost - The saga continues....

Assalamualaikum guys,

This is the second part of the question pertaining to the relevant cost. Kindly download the question. FYI, this question is independent from the previous but you can use the previous as a guide. Since I did the question earlier, before the announcement of the stimulus package then there is no Makcik Kiah participated in this exercise. Blame the PM not me! Now she is happy but not Pak Man nor Lebai Mat.

Download this and no more discussing who will get Makcik Kiah!

Lebai Mat vs Pak Man Part 2

Relevant Cost - Exercise

Lebai Mat vs Pak Man

Part 1

Assalamualaikum and dear students

As we are in the 'lockdown' period, I hardly suggest that you initiate your own revision by looking for exercises in my blog or any other relevant blogs. I will post a video for the solution later but please do on your own before watch them. As such, please subscribe my channel to show your support. Remember, the marking scheme will be tight!

This is just an exercise, don't you ever think that this is the exam question.....hahahaha!

Lebai Mat and Pak Man

At least show some support!

Assalamualaikum guys,

Please subscribe to my channel, show some support because I'm not doing this educational video for nothing!. It is normal for you guys to subscribe the less important videos such as the celebrities, gossips etc and not many or I can say none like to self educate to subscribe especially the education or spiritual videos.

Sorry as I need to say this but I'm beginning to feel demotivated doing this. But still, up to you. That is the least you can do...

Most of the students they just want to pass the exam without really understand the gravity of the subject they learned. That is dangerous. Believe me, it will pass through generations. If you feel that way, be honest to yourself, don't reproduce. If you know what I mean...

Cashbook - Lockddown 1 solution

Assalamualaikum and dear students,

As promised, below is the video pertaining to the question I've posted yesterday. Enjoy and stay home and STUDY!!!

Lockdown Cashbook

Assalamualaikum and dear student,

In conjunction with the COVID-19 lockdown period, Please download the cashbook exercise for you to revise. The solution I will send to you later after I finished doing with the video.

Lockdown cashbook

Profit adjustments - Duduk Diam Dalam Rumah Mangkuk

Assalamualaikum and hi,

Do download the exercise by clicking the link below and watch the video for further understanding. Take this opportunity to study and gain as much knowledge as you can. Prepare for battle! Not only the COVID-19 but for you exam as well....

Duduk diam dalam rumah

Perintah Berkurung!!!!

This sond is from one of my favourite rock group my my years of study. Enjoy!!!

Partnership - Stay Home and Associates Solutions

As promised, I attached the videos for you to check on your answers. Make sure you try it first and then watch the video for further understanding. InsyaAllah will produce more videos during the lockdown period pertaining to your final exam.

Hmmmm.....

I believe many of you are busy working as volunteers to curb the COVID-19 or busy going out to spread the disease to other people. Not many staying home to revise and study. It's ok, I will still producing questions for exercises and videos for you guys. It is the best time to revise during this 'lockdown' period. So I'm expecting zero failure as all of you having 2 weeks advantage.

So? Why wait till the last minute? Get your ass here and study!

Stay Home and Associates - Partnership Accounts

Assalamualaikum guys,

While we are in the 'LOCKDOWN' period, I just wanna give you an exercise for you to prepare for the coming final exam. Try to attempt the question as I will try to make a video for the solution to the exercise tomorrow.

Download the question and good luck!

Stay Home and Associates

EduTourism 2.0 - Melaka Chapter

Quite late to publish the videos as I got the material a bit late from my students. However, the trip was worth it. We love it very much. The food, the place, the activities and the best thing was the friendship and the bonding created by them. Actually, there is a lot to write but I think it is better to experience it rather than reading. So....why don't you just come and join us for the next trip after the COVID-19 over.

Next destination.....Where to?

Disposal of Asset

Assalamualaikum and hi,

I attached an exercise for you to download regarding the disposal of asset. Remember, before you dispose any asset, you need to deduct from asset account to make it zero. This is because, when you bought an asset, it will debited to the asset account until you dispose the asset, you need to deduct the same figure from the account. For example, you bought a machine for RM10,000, then you will debit the asset account for RM10,000. 

When you hold the asset, you need to depreciate the asset and therefore the depreciation account is created. The accumulated depreciation for the said asset is also being created. As long as you have the asset, you'll need to depreciate and you'll need to accumulate.

But...when you dispose the asset, you'll need to cancel those accounts from the books, Asset gone, no asset means no depreciation. Accumulated depreciation will also need to go.

To learn more about this, please download the exercise and watch this video for further understanding.

Disposal of asset

Depreciation & Accumulated depreciation

Assalamualaikum again,

I've made another video and exercise for depreciation and accumulated depreciation. Bonus, I also show you how to do an extract of Statement of Profit and Loss and Statement of Financial Position as well. Download the exercise and watch the video for further understanding.

Depreciation and Accumulated depreciation

Depreciation - Methods and Calculations

Dear students,

This is your revision for those who still in the dark on how to calculate depreciation for both methods, straight line and reducing balance method. You can learn this topic by downloading the exercise and click on the video below.

Happy revising!

Depreciation- Methods and calculations

Exercise: Profit adjustment

Assalamualaikum guys,

Attached is the exercise for profit adjustment after taking few considerations regarding the accounts receivables as well as simple depreciation.

Click this link for the exercise. BRING this to class!

Don't forget to subscribe my channel Fadhil Consultancy and Training

https://www.youtube.com/channel/UCC5-wDxp2aKTnRpb1noJxhA?view_as=subscriber

Fadhil's Dilemma....again???

Asssalamualaikum and hi,

Dear students of ACC2236. This is your final group assignment for the ACC2236. I guess it is sufficient for you guys to gain knowledge and skills and use them in the final ultimately when you are out there in the wild.

So here it is, click on the video and enjoy.....

BUS2231 Assignment

Finally, the assignment has arrived. As usual, in a group of FOUR or a minimum TWO. Please be reminded the submission date will be on the 12th March 2020. Handwritten or preferably type. Late submission will not be entertained!.

So here is the assignment.

Good luck!

ACC 2236 Assignment

Fadhil's Dilemma

Finally, the assignment has arrived. As usual, combine this with the previous assignment to be handed together ok


Click this link

Fadhil's Dilemma

Accounts receivables (Malay version)

I accidentally saved this screenshot. Maybe you can look at this and maybe you can understand the concept of accounts receivables. 

Remember, when you do sales, you can either receive cash or cheque due to the payment made by them (customer). But when you've made your sales and you receive nothing accept the promises made by them (customer), then you'll need to remember their names. It is because they are now owing you! So in a way, your asset in terms of Accounts receivables appears in your life. You own them because they are holding your money!... 

When they pay, you need to reduce the amount they are owing because you received their money. So the total receivables will eventually become lesser and lesser because of the payments made.

I think I'll a movie director after I retired.....

Suspense Account - The Video

Assalamualaikum and dear students

This video was taken during the foundation class held at the college recently. It is very useful for those who are now studying this topic. Well it is an important topic and when I say it is important than it is VERY IMPORTANT! Hehe.

As it is in the video, so you guys can play this over and over again..... So please, read the notes regarding the suspense account and watch the video.

Errors and Correction of Errors

Errors Which do not Affect the Trial Balance

Accounting errors that do not affect the trial balance fall into one of six categories as follows:

1. Error of Principle
2. Errors of Omission
3. Error of Commission
4. Compensating Error
5. Error of Original Entry
6. Complete Reversal of Entries

You can also refer to the video below which I've made specially for you. Even though the video is not really good but still it was made in front of small audiences. So stay put. It has Part 1 and Part 2.

Part 1

Part 2

Control Accounts

An introduction and simple exercise.

There you go! As much as I want you to succeed in my paper, I am also attaching the simple notes for the control accounts. There is also an exercise, for me it is just for an entry level. Still, you guys need to look at it. Put away your ego and learn!

Ready for take? ACTION!

Am I an artist? Hmmm...

Done for the introductory shot at the ODL Centre. The video can only be seen in the portal. You want to see it? You need to enrol to this course.  Hahaha!

We are having fun learning!

CBA1133 Assignment

Assalamualaikum and dear students,

The moment you are waiting for has finally arrived. The assignment as I said it either be easy or hard, actually it depends on you. So enjoy this video and make sure you submit this on time or before 27 February 2020. Not late than that or else your marks will be zero!

Good luck to students who always absent in class, I wish you all the best and pray hard and even harder to pass your exam coz I just don't give a damn about it.

The assignment featuring Belantara as the background song. It was one of my favourite band decades ago.

ODL - Cashbook - Exercise 2

Again?

Well, since I have nothing to do so I make you to do something for yourself. A good example on cashbook. This time around, the business has a brought down figure. So just write down the figure at the correct side either debit or credit side then post the entries to the cashbook.

Hope you guys benefits from it!

ODL - Cashbook - Exercise 1

Assalamualaikum and hi to my dear students.

As much as I want yo to succeed, here I've prepared a video on how to answer the cashbook question. The softcopy of the exercise can be obtained HERE. Click the link and run the video. InsyaAllah, it saves some time and you can focus on other things in the class.

Enjoy the video.

Don't forget to subscribe the channel okay!

ODL - Recording transactions

Assalamualaikum and hi students,

Attached is the ODL exercise, click the link to download the exercise and you can learn also by watching the video below. You may need an earphone because you need to focus and your eyes only to the video. Sorry if the quality is unsatisfactory but you will appreciate it when you understood. Bring it on!

Preparation of Final Accounts for Beginners: Part 2

Assalamualaikum and hi students,

This is my second video for the preparation of final accounts. Like previous we will begin with the trial balance and then we will construct two financial statements that are Statement of Profit and Loss and Statement of Financial Position. 

Hope this will benefit you. At least you have the advantage of doing revision by watching this video. Make sure to download the question HERE and  put on your earphone.

Preparation of Final Accounts for Beginners: Part 1

Assalamualaikum and hi students,

This is one of my first video for the preparation of final accounts. We will begin with the trial balance and then we will construct two financial statements that are Statement of Profit and Loss and Statement of Financial Position. 

This is for the beginners' level. Sorry for the lack of lightings as well as the sound quality is not really good, but hey for the sake of learning, please bear with me on this.

I'm attaching the question I took from my handbook and you can download it here by clicking THIS

Assignment 1 - CVP Analysis

Assalamualaikum and dear students,

Download the files or you may watch it online for your assignment 1 for Management Accounting. In a group of 4, you may work this out and submit to me on 28th February 2020.

The video for this is here....
Assignment 1 - Cost Volume Profit Analysis

Cost-Volume Profit Analysis - Hijab Empire

Break-even Point

Exercise 1

Sahera Manufacturing produces a satin hijab by the name of Hijaberz. Below are the information regarding the production of the above product.

Selling Price          RM80

Variable cost

Satin cloth(m)        2 metres@RM14/metre

Label (pc)              2 pcs@RM1.50/pc

Direct labour          1.25 hours@RM12/hr

Rental of shop       RM20,000 per year

Other fixed cost     RM15,000 per year

Production units    2000 pcs.

Required;

    1. Break-even point (units) and RM. 
2. New BEP in the Sahera wants to put additional profit of RM25,000.
3. If Sahera engage Mira Faezah as her hijab model, she needs to pay additional RM8,000. What will be her new BEP without the additional profit plan.

Exercise 2

A newcomer in hijab industry, Nadia, came out with a new design of hijab with a new tagline ‘Hijab for all’. Currently she produces 3000 pcs limited edition hijab this year with the following cost.

                 

Selling price          RM100

Variable cost

Secret cloth           1.5 metres@RM20/metre

Label (pc)              1 pc@RM2.20

Direct labour          1.75 hours@RM14/hr

Rental of studio    RM15,000 per year

Model contract      RM10,000 per model (standard)

During the year, she engaged 1 female and 1 male models to promote the hijab plus the advertisement cost of RM10,000. The male model received 40% lesser than the standard contract.

Required;

You have been asked to calculate the BEP (units) and RM for the said hijab.

   

    Since there are two big competitors in the hijab industries, Nadia has approached Sahera to join forces and create a new business entity called ‘The Hijab Awakens”. The rental cost of both business can be combined and reduced by RM5,000 while Mira Faezah, the existing model asking for an increase to her contract by 20%. It has been agreed that a new label be introduced at RM2 per piece for every hijab produced. The production units remain.

• Calculate new combined BEP(units) and RM
• Comment on the merger of the two businesses