Accounting for VAT Payable | Input and Output VAT

#FAR #IntermediateAccounting #SirATheCPAProf

[verchezcath]

Good day, Sir! Thank you for this informative discussion on VAT payable!

[roshellbordeos]

done watching this lecture sir, after watching the video I learnt how to use VAT to compute the cost of buying and selling items. I also learned that there is an INPUT VAT on purchases and an OUTPUT VAT on sales. I was pleased to learn what I needed to know about this topic the first time I viewed this lesson. Thank you sir

[chryzielaparecio]

Good day po sir, thank you for your discussion about VAT. Ang dali po maintindihan kapag napapaliwanag niyo po.

[ninaelisabernabe]

Good day, sir! Thank you for this lecture po. Thank you din po sa shortcuts sa computing. I 6hink this video will help SHS students din po because this really refreshed the concepts na tinuro po ng senior high na nalimutan ko na po.

[cedrixdequilla]

I appreciate you sharing this video, Sir A. I learned how to calculate the cost of purchasing and selling things using VAT. I also discovered that there is an INPUT VAT for goods purchased and an OUTPUT VAT for goods sold. I learned how to determine the current liability, or the VAT payable, by deducting the input VAT from the output VAT (VAT refund). A Vat Payable is an obligation that needs to be forwarded to the BIR right away. In addition, every time someone buys or sells, they have to pay extra money, especially if they are a VAT-registered business. Subtract the input VAT from the output VAT to get this.

[sashenkadignum]

Done watching, Sir! This lesson taught me that VAT is an indirect tax that is passed on to the buyer and is added to the selling price.

[annecercado]

Thank you for this video po Sir A, I was able to learn how to compute the cost of buying and selling goods with VAT. I also learned that there is an OUTPUT VAT for products sold and an INPUT VAT for items purchased. By subtracting the input VAT from the output VAT, I was able to understand how to compute the current liability known as the VAT payable (VAT refund). A Vat Payable is a current liability that must be remitted to the BIR. Additionally, whenever someone buys or sells, they must pay an extra sum, particularly if they are a VAT-registered organization. To obtain this, deduct the input VAT from the output VAT.

[alyanalucreda]

This lecture is very helpful in refreshing my knowledge in Value Added Tax. Thank you very much po!

[lagmankyleesmael]

Good afternoon sir! Very helpful discussion about VAT Payable!

[seankrizzatestado]

Good day, Sir A! Thank you for this informative video lecture about VAT.

[princezharlvillar]

I now have a clearer understanding of VAT and how it affects both the customer and the supplier. It has taken me a little while to catch up with the other sections, but after re-watching the ones where I became lost, I'm starting to understand its details. This has been incredibly helpful in making sense of things.

[johngabrielvinarao]

Good day, Sir! Thank you for this informative video lecture!

[thearenon]

Done watching this lecture before midterms po. Thank you, sir A!

[benramosjr.]

The use of the table and the clear explanation served as a combo to give a description of VAT. Thank you, Sir!

[juliemaedeano]

I understand it so well especially in computing input VAT and output VAT with your clear explanation sir, thank you.

[jhanellafaithfagar]

Thank you, Sir A., For this informative video lecture. I learn how to compute the VAT. Also, When VAT is taken into account, The amount placed on the purchase of goods is considered an input, and the amount placed on the selling of products is considered an output.

[genesismeneses]

These videos bring back my fundamentals during grade 12 accounting!! Amazing!!

[allanpaulhenson]

Done watching sir. Thank you for the lesson. I learned the 2 different POV of the account of VAT that as the buyer on the purchase of goods we use the input VAT account an asset account and as the seller on the sale of goods we use output VAT account an liability account.

[leinardagcaoili]

sir.. kakatapos ko lang po mag quiz and i realized na nakalimutan ko po magcomment sa mga videos na pinanuod ko last week
thank you for teaching in a methodical pace po, nakasahot ng ayos sa quiz dahil dun!

[maryjoyvertudazo]

I now have better understanding about VAT. Thankfully, it is not so difficult to understand because of the presentation you have given, Sir. Thank you, Sir!