PENCATATAN METODE PERIODIK DAN METODE PERPETUAL

Summary

This video tutorial explains the differences between the periodic and perpetual inventory methods in accounting. It walks through the process of journalizing sales transactions, highlighting how the periodic method only records the total sale amount, while the perpetual method also includes an additional entry for Cost of Goods Sold (COGS) and updates inventory. The video demonstrates both methods with practical examples, emphasizing their key differences in managing sales and inventory. The speaker concludes with a positive message, wishing viewers success in their learning.

Takeaways

• 😀 Understanding of journal entries for transactions using periodic and perpetual inventory methods.
• 😀 Clear explanation of the difference between periodic and perpetual inventory systems in accounting.
• 😀 Key transaction example: Buying goods on credit for IDR 3 million and its journal entry under both systems.
• 😀 In the periodic method, only the sales amount is recorded during a sale, ignoring COGS until a later period.
• 😀 The perpetual method requires recording both the sales and the cost of goods sold (COGS) immediately when a sale occurs.
• 😀 An example of a sale transaction where goods worth IDR 3 million were sold, and the journal entries for both systems were provided.
• 😀 For the periodic method, only the sales amount (cash received) is recorded in the journal, with no impact on inventory until later.
• 😀 For the perpetual method, both the sales and COGS are immediately recorded, reflecting the decrease in inventory at the time of sale.
• 😀 Practical demonstration of how inventory accounts are affected in both systems with a cost of goods sold of IDR 2.2 million.
• 😀 The video concludes with a positive message and encouragement for successful learning, aiming to make the process clear and engaging.

Q & A

What is the main difference between the periodic and perpetual inventory methods?

The main difference is that the periodic method updates the inventory and cost of goods sold only at the end of the period after a physical count, while the perpetual method updates the inventory and records the cost of goods sold in real time with each sale.

In the periodic inventory method, when is the cost of goods sold recorded?

In the periodic method, the cost of goods sold is recorded at the end of the accounting period after conducting a physical count of inventory.

How does the perpetual method handle the recording of inventory and cost of goods sold?

The perpetual method continuously updates the inventory account and records the cost of goods sold immediately when a sale occurs.

What is the journal entry for a sale of goods under the periodic method?

In the periodic method, the journal entry for the sale of goods includes debiting cash or accounts receivable and crediting sales revenue, without affecting inventory or cost of goods sold until the end of the period.

What is the journal entry for a sale of goods under the perpetual method?

Under the perpetual method, the journal entry for a sale of goods includes debiting cash or accounts receivable and crediting sales revenue, and also debiting cost of goods sold and crediting inventory to reflect the decrease in stock.

What happens to inventory when goods are sold using the perpetual method?

When goods are sold under the perpetual method, the inventory account is immediately updated by crediting inventory, as the sale decreases the stock of goods on hand.

Why is the cost of goods sold recorded immediately in the perpetual method?

The cost of goods sold is recorded immediately in the perpetual method to match the expense with the revenue from the sale as soon as the transaction occurs, providing a more accurate and up-to-date reflection of the company's financial position.

How does the recording of sales differ between the periodic and perpetual methods?

In the periodic method, only the sales revenue is recorded immediately, while in the perpetual method, both sales revenue and the corresponding cost of goods sold are recorded immediately.

What does the speaker say at the end of the video about the learning experience?

At the end of the video, the speaker thanks the viewers and expresses hopes that their learning process goes smoothly, wishing them a successful educational experience.

What does the speaker imply by using the phrase 'alhamdulillahirobbilalamin' in the video?

The phrase 'alhamdulillahirobbilalamin' is an Arabic expression meaning 'Praise be to God, the Lord of all worlds'. The speaker uses this phrase to express gratitude and conclude the lesson in a positive and thankful tone.