All LevelsFinance & AccountingFinancial Accounting

Financial Accounting: A Comprehensive Guide with E-book

Unlock Financial Accounting Mastery: Comprehensive Course for Students, Professionals, and Business Owners

Created by Robert (Bob) Steele

115.5 hours

Video Content

699

Lectures

192,890

Students

4.5

Rating

4.5

(192,890 students enrolled)

What you'll learn

✓Grasp the basics of financial accounting and understand its objectives and significance in business.

✓Demonstrate proficiency in using the double-entry accounting system and interpreting the accounting equation.

✓Record business transactions using debits and credits, including period-end adjusting entries.

✓Understand and apply the rules for closing entries at the end of an accounting period.

✓Handle transactions related to the purchase and sale of inventory, including applying inventory cost flow assumptions such as FIFO, LIFO, and weighted average m

✓Master the use of subsidiary ledgers and special journals, specifically for accounts receivable and accounts payable

✓Conduct bank reconciliations and apply best practices for cash internal controls.

✓Accurately estimate and record allowance for doubtful accounts using both allowance method and direct write-off methods.

✓Understand, calculate, and record depreciation for property, plant, and equipment using various methods, including straight-line, double-declining balance, and

✓Handle transactions related to the purchase and sale of property, plant, and equipment.

✓Understand and execute the payroll accounting process, including the calculation of payroll taxes and recording complex payroll journal entries.

✓Grasp the unique accounting considerations and transactions for partnerships, including income allocation, admission and withdrawal of a partner, and partnershi

✓Handle transactions unique to a corporate form of entity, including issuance and repurchase of shares, and dividend distributions.

✓Understand the concept of bonds payable and notes payable, including their issuance, discount/premium amortization, and interest payment.

✓Prepare a comprehensive statement of cash flows using both direct and indirect methods, and understand its importance in financial analysis.

✓Use Excel to perform various accounting tasks, including creation of amortization schedules and financial statement preparation.

✓Understand how to update and adjust accounting records to reflect changes in the business environment.

✓Grasp the importance of theory in making appropriate accounting adjustments and decisions.

✓Learn how to compare and contrast different accounting procedures and choose the most suitable for a given business scenario.

✓Understand and apply the time-value of money concept in the context of bond and note transactions.

✓Determine current and long-term portions of notes payable using amortization schedules.

✓Learn how to adapt accounting procedures and policies to ever-changing business and regulatory environments.

Course Content

144 sections • 699 lectures • 118:56:33 total length

Introduction

2 lectures • 00:15

Table Of Contents00:02

Download E-book Available Formats - (EPUB, MOBI, PDF) - Works on tablet & Kindle00:12

Section One - Financial Transactions

1 lectures • 02:15

Section One Financial Transactions02:15

SEC 1 - Why Learn Accounting

3 lectures • 24:42

1 Why Learn Accounting00:11

100 Why Learn Accounting19:41

Notes - What is Accounting and Why Learn Accounting04:50

SEC 1- Accounting Objectives, Accounting Equation, & Ethics

7 lectures • 54:09

2 Accounting Objectives, Accounting Equation, & Ethics00:29

102 Accounting Objectives U09:24

Notes - Categories of Accounting – Financial Accounting & Managerial Accounting01:45

115 Accounting Equation15:14

Notes - Accounting Objectives01:27

+2 more lectures

SEC 1- Financial Statements

6 lectures • 01:09:10

3 Financial Statements00:37

120 Balance Sheet17:22

130 Income Statement13:24

131 Statement of Owner's Equity10:49

132 Balance Sheet & Income Statement Relationship23:47

+1 more lectures

SEC 1- Accrual Method, Cash Method, Revenue & Expense Recognition

4 lectures • 29:57

4 Accrual Method vs Cash Method00:38

134 Revenue Recognition Principle08:49

135 Cash Method vs Accrual Method16:19

Notes - 8 Accrual Basis and Cash Basis04:11

SEC 1 - Financial Transaction Rules & Thought Process

5 lectures • 25:53

5 Financial Transaction Rules & Thought Process00:36

155 Financial Transaction Rules07:48

Notes - Accounting Equation and Account Types04:39

160 Financial Transaction Thought Process11:52

Notes - Transaction Rules & Thought Process Using the Accounting Equation00:58

SEC 1 - Recording Transactions Using Accounting Equation

5 lectures • 57:39

6 Recording Transactions Using Accounting Equation00:47

165 Cash Transaction - Accounting Equation16:25

Notes - Transactions & The Accounting Equation04:39

170 Accounts Receivable Transactions Accounting Equation10:26

170 Accounts Payable Transactions Accounting Equation25:22

SEC 1 - End of Section One Resources

1 lectures • 02:24

Glossary Click here for videos02:24

SEC 1 - Debits and Credits Defined

6 lectures • 43:10

7 Debits & Credits Defined00:42

205 Debits & Credits15:49

Notes - What are Debits and Credits03:38

210 Rules for Using Debits & Credits18:27

Notes - Account Types Normal Balances01:52

+1 more lectures

SEC 1 - Debit & Credit Rules & Thought Process

7 lectures • 46:27

9 Debit & Credit Rules & Thought Process00:36

215 Journal Entry Thought Process13:40

Note - One Rule for Increasing and Decreasing an Account Balances00:59

220 Trial Balance15:02

Notes - The Rule Applied to Cash and Asset Accounts05:01

+2 more lectures

SEC 1 - Record Cash Transactions Using Debits and Credits

6 lectures • 01:17:30

10 Record Cash Transactions Using Debits & Credits00:34

225 Cash Journal Entries with Cash18:01

Notes - Transaction Rules Using Debits and Credits02:34

Notes - Transaction Though Process03:24

Worksheet - Prob 4 Debits and Credits Cash45:32

+1 more lectures

SEC 1 - Record Accounts Receivable Transactions Using Debits and Credits

4 lectures • 44:29

12 Record Accounts Payable Transactions Using Debits & Credits00:32

230 Accounts Receivable Journal Entries10:05

Notes - Recording Transaction for the Accounts Receivable or Revenue Cycle04:31

Worksheet - Prob 5 Debits and Credits Accounts Receivable29:21

SEC 1 - Record Accounts Payable Transactions Using Debits and Credits

3 lectures • 54:33

240 Accounts Payable Journal Entries22:28

Notes - Recording Transaction for the Accounts Payable Cycle03:26

Worksheet - Prob 6 Debits and Credits Accounts Payable28:39

SEC 1 - Record Transaction to General Ledger

8 lectures • 02:09:49

13 Record Transactions to General Ledger00:43

245 General Ledger14:27

Notes - General Ledger & Trial Balance04:01

Worksheet - General Ledger Cash28:51

Worksheet - Prob 8 General Ledger Accounts Receivable24:47

+3 more lectures

SEC 1 One - Comprehensive Problem Part 1

3 lectures • 01:07:10

Excel Download00:05

Comprehensive Problem Part 131:06

Comprehensive Problem Part 235:59

Section Two - Adjusting Entries & Financial Statements

1 lectures • 01:29

Section Two Adjusting Entries & Financial Statements01:29

SEC 2 -Accounting Cycle, Types of Adjusting Entries, Cash vs Accrual

5 lectures • 37:01

2 Accounting Cycle, Types of Adjusting Entries, Cash vs Accrual Overview01:14

1 Accounting Cycle Steps in the Accounting Process10:02

2 Types of Adjusting Journal Entries Adjusting Journal Entry17:20

Notes - What Adjusting Journal Entries Are?03:38

Notes - Why Adjusting Entries Are Needed04:47

SEC 2 - Adjusting Entry Rules and Thought Process

7 lectures • 43:04

3 Adjusting Entry Rules and Thought Process00:56

3 Adjusting Journal Entry Rules - What are Adjusting Journal E04:43

Notes - Adjusting Entry Rules03:18

3.5 Why Use a Worksheet in Adjusting Process11:13

Notes - Adjusting Entry Worksheet08:17

+2 more lectures

SEC 2 - Supplies, Unearned Revenue, and Wages Adjusting Entri

9 lectures • 50:25

4 Supplies, Unearned Revenue, and Wages Adjusting Entries01:28

5 Adjusting Entry Supplies05:12

Notes - Adjusting Entry For supplies05:00

6 Adjusting entry unearned revenue04:45

Notes - Unearned or Deferred Revenue05:42

+4 more lectures

SEC 2 - Accounts Receivable, Insurance, and Depreciation Adjusting Entries

9 lectures • 52:07

5 Accounts Receivable, Insurance, and Depreciation Adjusting Entries01:09

8 Adjusting Entry Accounts Receivable05:21

Note - Accrued Revenue05:39

9 Adjusting Entry Insurance06:21

Notes - Prepaid Expenses05:50

+4 more lectures

SEC 2 - Reversing Entries

7 lectures • 50:45

6 Reversing Entries00:46

11 Reversing Journal Entries - Accrued Revenue09:14

Worksheet - 10.350 Accounts Receivable Reversing Entry13:21

Notes - Reversing Entries04:16

11.5 Reversing Entry Wages Payable10:36

+2 more lectures

SEC 2 - Create the Balance Sheet

11 lectures • 35:36

8 Create the Balance Sheet00:40

12 Balance Sheet Current Assets from Trial Balance04:01

Notes - Analysis of The Financial Statement Relationships02:20

Notes - Current Asset Portion of the Balance Sheet00:39

13 Balance Sheet Property Plant %26 Equipment From Trial Balance05:18

+6 more lectures

SEC 2 - Create the Income Statement

5 lectures • 34:51

9 Create the Income Statement00:46

16 Income Statement from Trial Balance09:16

Notes - Income Statement Created Form Adjusted Trial Balance03:44

Multiple Choice - Adjusting Process08:46

Short Calculation - Adjusting Process12:19

SEC 2 - Create the Statement of Owner’s Equity from the Trial Balance

6 lectures • 01:15:10

10 Create the Statement of Owner’s Equity from the Trial Balance00:43

17 Statement of Equity From Trial Balance08:56

Notes - Statement of Owner’s Equity Created Form Adjusted Trial Balance03:40

Worksheet - Financial Statements from Trial Balance34:26

Multiple Choice - Adjusting Process08:12

+1 more lectures

SEC 2 - Financial Statement Relationship

6 lectures • 34:16

18 Financial Statement Relationships06:17

Notes - Financial Statement Relationship Review01:00

Notes - Balance Sheet Constructed from the Adjusted Trial Balance01:39

Notes - Glossary (John J. Wild, 2015) Click here for01:23

Multiple Choice - Adjusting Process04:43

+1 more lectures

SEC 2 - Comprehensive Problem Part 2

9 lectures • 02:14:36

Excel Download00:05

1 Accounting%2C Financial - Comp Prob Service Co 1 Part 115:01

2 Accounting%2C Financial - Comp Prob Service Co 1 Part 215:10

3 Accounting%2C Financial - Comp Prob Service Co 1 Part 315:20

4 Accounting%2C Financial - Comp Prob Service Co 1 Part 422:13

+4 more lectures

Section Three - Closing Process

1 lectures • 01:25

Section Three Closing Process01:25

SEC 3 -Review Accounting Cycle and Building Blocks

3 lectures • 21:56

1 Review Accounting Cycle & Building Blocks00:46

5 300 Accounting Cycle Steps in the Accounting Process (1)10:02

10 100.90 Accounting Building Blocks11:08

SEC 3 - Closing Process Overview

7 lectures • 19:48

3 Closing Process Overview00:17

20 400 Closing Process Explained07:20

Notes - What the Closing Process Is01:46

Notes - Goals of the Closing Process03:28

23 Post Closing Trial Balance04:05

+2 more lectures

SEC 3 - Closing Process – One Step

4 lectures • 31:46

4 Closing Process – One Step00:42

25 One Step Closing Process11:50

Notes - One Step Closing Process07:53

Multiple Choice - Closing Process11:21

SEC 3 - Closing Process – Two Steps

4 lectures • 26:14

5 Closing Process – Two Steps01:00

28 Two Step Closing Process10:54

Notes - Two Step Closing Process06:47

Multiple Choice - Closing Process07:33

SEC 3 - Closing Process – Four Steps

8 lectures • 01:14:14

6 Closing Process – Four Steps02:00

30 400 Closing Process Step 1 of 4 - Journal Entry 1 of 403:52

40 400 Closing Step 2 of 4 - Journal Entry 2 of 405:49

50 400 Closing Entries Journal Entry 3 of 4 Step 3 Income summary05:30

60 400 Closing Process Step 4 of 4 Closing Journal Entry Draws or Withdraws07:26

+3 more lectures

SEC 3 - Post-Closing Trial Balance

5 lectures • 37:05

7 Post-Closing Trial Balance00:37

70 Post Closing Trial Balance & financial statements06:22

Notes - Post-Closing Trial Balance01:31

Multiple Choice - Closing Process10:43

Short Calculation - Closing Process17:52

SEC 3 - Closing Process Resources

1 lectures • 00:56

Glossary Click here for videos00:56

SEC 3 - Comprehensive Problem Part 3

11 lectures • 02:35:18

Excel Download00:05

1 Accounting%2C Financial - Comp Prob Service Co 1 Part 115:01

2 Accounting%2C Financial - Comp Prob Service Co 1 Part 215:10

3 Accounting%2C Financial - Comp Prob Service Co 1 Part 315:20

4 Accounting%2C Financial - Comp Prob Service Co 1 Part 422:13

+6 more lectures

Part 4 Merchandising Transactions

1 lectures • 00:02

Overview00:02

Sec 4 Merchandising Accounting Cycle

1 lectures • 03:17

1 Accounting Cycle Merchandising Company03:17

Sec 4 Merchandising Transactions Overview

4 lectures • 19:12

3 Merchandising Transactions Overview00:51

20 500 - Merchandising Transaction Explained Purchaser and Se05:53

30 500 Merchandising Transaction Journal Entry Purchaser05:16

40 500 Merchandising Transaction Sales Journal Entry - COGS Jou07:12

Sec 4 Perpetual and Periodic Inventory Systems

6 lectures • 02:06:29

4 Perpetual and Periodic Inventory Systems Overview01:22

5 Perpetual Inventory System18:36

10 Worksheet - Perpetual Inventory System35:37

10 Periodic Inventory System22:30

20 Worksheet Periodic System31:34

+1 more lectures

SEC 4 Sales Discount & Purchase Discount

5 lectures • 44:16

5 Sales Discount %26 Purchase Discount Overview01:09

50 500 Sales Discount VS. Purchase Discount05:39

60 500 Purchase Discount Journal Entry Explained06:35

70 500 Sales Discount Explained Journal Entry Record Discou07:18

30 Worksheet Purchase Discount & Sales Discount23:35

SEC 4 Inventory Shrinkage & Sales Returns

6 lectures • 01:01:27

6 Inventory Shrinkage %26 Sales Returns00:56

90 Inventory Shrinkage09:06

40 Inventory Shrinkage11:58

100 Sales Return & Allowance Transaction16:00

50 Worksheet - Sales Return12:51

+1 more lectures

SEC 4 Financial Statements - Merchandising Company

3 lectures • 45:22

7 Financial Statements - Merchandising Company01:11

110 500.20 Merchandising Financial Statements-Accounting instructions25:36

20 Multiple Choice Questions Merchandising Company18:35

SEC 4 Merchandising Transaction Problem

6 lectures • 01:09:16

Excel Worksheet Download00:05

60 500.10 Merchandising Ex Part 1-Accounting%2C Financial (2)15:03

70 500.20 Merchandising Ex Part 2-Accounting%2C Financial (1)15:11

80 500.30 Merchandising Ex Part 3-Accounting%2C Financial (1)15:08

90 500.40 Merchandising Ex Part 4-Accounting%2C Financial (1)14:10

+1 more lectures

Part 5 Inventory Costs - FIFO, LIFO Weighted Average Method

1 lectures • 00:05

Section 5 Overview00:05

SEC 5 Inventory Tracking & Inventory Methods

3 lectures • 15:52

2 Inventory Tracking & Inventory Methods00:41

10 600 Inventory Tracking Explained - Introduction-Specific Ide06:09

15 600 Inventory Methods Explained and compared FIFO LIFO Ave09:02

SEC 5 Inventory Cost, Principles, and Perpetual vs Periodic Inventory Systems

5 lectures • 28:11

3 Inventory Cost, Principles, and Perpetual vs Periodic Methods01:28

17 Inventory Costs08:39

20 Consistency Concept03:46

30 Lower of Cost or Market04:04

40 Perpetual & Periodic Inventory Systems10:14

SEC 5 Periodic System First In First Out (FIFO)

4 lectures • 01:32:01

4 Periodic System First In First Out (FIFO)00:32

42 First In First Out (FIFO) Periodic System34:17

10 Worksheet FIFO Periodic System47:53

Multiple Choice 1 - Inventory Cost09:19

SEC 5 Periodic System Last In Last Out (LIFO)

4 lectures • 01:31:22

5 Periodic System Last In First Out (LIFO)00:49

44 Last In First Out LIFO Periodic34:10

20 Worksheet Last In First Out (LIFO) Periodic System44:44

Multiple Choice 2 - Inventory Cost11:39

SEC 5 Periodic Weighted Average Method

4 lectures • 01:28:47

6 Periodic Weighted Average Method00:44

46 Weighted Average Periodic System29:07

30 Worksheet Weighted Average Periodic System49:22

Multiple Choice 3 - Inventory Cost09:34

SEC 5 Perpetual System Fist In First Out (FIFO)

5 lectures • 48:23

7 Perpetual System First In First Out (FIFO)00:37

50 600 First In First Out FIFO Explained09:12

40 600.10 Inventory Cost Problem First In First Out part 1 Ex.%2C how to calcula11:01

50 600.20 Inventory Cost Problem First In First Out part 2 Ex.%2C how to calcula12:05

Multiple Choice 4 - Inventory Cost15:28

SEC 5 Perpetual System Last In First Out (LIFO)

5 lectures • 39:25

8 Perpetual System Last In First Out LIFO00:36

60 600 Last In First Out LIFO Inventory Method Explained07:41

60 600.50 Cost Problem Last In First Out LIFO part 1 Ex.%2C how to calculate-Acc10:02

70 600.60 Cost Problem Last In First Out LIFO part 2 Ex.%2C how to calculate-Acc10:09

Multiple Choice 5 Inventory Cost10:57

SEC 5 Perpetual System Weighted Average Method

5 lectures • 42:19

9 Perpetual System Weighted Average Method00:41

70 600 Average Inventory Method Explained07:03

Worksheet - 80 600.30 Inventory Cost Problem Average method Part 110:01

Worksheet - 90 600.40 Inventory Cost Problem Average method Part 208:47

Multiple Choice 6 Inventory Cost15:47

Part 6 Subsidiary Ledgers & Special Journals

3 lectures • 25:38

Overview Subsidiary Ledgers & Special Journals01:23

2 Special Journals Subsidiary Ledgers16:02

Multiple Choice Question 1 - Special Journals08:13

SEC 6 Accounts Receivable Subsidiary Ledger

4 lectures • 41:56

5 Accounts Receivable AR Subsidiary Ledger Explained09:00

Worksheet - 10 700.10 Accounts Receivable Subsidiary Ledger 700 Part 112:31

Worksheet - 20 700.20 Accounts Receivable Subsidiary Ledger 700 Part 211:58

Multiple Choice Question 2 - Special Journals08:27

SEC 6 Accounts Payable Subsidiary Ledger

4 lectures • 43:58

6 Accounts Payable AP Subsidiary Ledger07:52

Worksheet - 30 700.30 Accounts payable subsidiary ledger 700 part 112:31

Worksheet - 40 700.10 Accounts payable subsidiary ledger 700 part 213:35

Multiple Choice Question 3 - Special Journals10:00

SEC 6 Sales Journal

7 lectures • 01:11:19

Sales Journal01:18

10 Sales Journal Service Company09:16

50 Worksheet - Sales Journal19:13

20 Sales Journal Merchandising Co.10:39

Excel Worksheet Download00:08

+2 more lectures

SEC 6 Purchases Journal

5 lectures • 44:30

Purchases Journal Overview01:04

30 Purchases Journal Service Company10:29

33 Purchase Journal Merchandising Co.09:26

80 Worksheet - Purchases Journal Inventory13:38

Multiple Choice Question 5 - Special Journals09:53

SEC 6 Cash Receipts Journal

4 lectures • 01:04:46

Cash Receipts Journal Overview01:17

40 Cash Receipts Journal18:59

90 Worksheet - Cash Receipts Journal33:51

Multiple Choice Question 6 - Special Journals10:39

SEC 6 Cash Payments Journal

4 lectures • 49:05

Cash Payments Journal Overview01:22

50 Cash Payments Journal Service Company13:40

100 Worksheet Cash Payment Journal27:39

Multiple Choice Question 7 - Special Journals06:24

SEC 6 Comprehensive Problem

10 lectures • 03:32:25

Comprehensive Problem Overview02:05

Excel Worksheet Download00:05

Comprehensive Problem Special Journals Part 127:50

Comprehensive Problem Special Journals Part 225:02

Comprehensive Problem Special Journals Part 330:37

+5 more lectures

Section 7 Bank Reconciliations & Cash Internal Controls

1 lectures • 01:20

Bank Reconciliations & Cash Internal Controls01:20

SEC 7 Internal Controls Overview and Cash Internal Controls Introduction

4 lectures • 36:49

Internal Controls Overview and Cash Internal Controls Introduction01:39

10 Internal Controls18:58

20 Cash Internal Controls Overview08:01

Multiple Choice Questions 3 - Cash and Internal Controls08:11

SEC 7 Cash Receipts Internal Controls

3 lectures • 17:24

3 Cash Receipts Internal Controls00:50

30 Cash Receipts Internal Controls08:07

Multiple Choice Questions 4 - Cash and Internal Controls08:27

SEC 7 Cash Disbursements Internal Controls

3 lectures • 17:10

4 Cash Disbursements Internal Controls00:49

40 Cash Disbursements Internal Controls08:07

Multiple Choice Questions 5 - Cash and Internal Controls08:14

SEC 7 Bank Reconciliations

8 lectures • 01:53:15

5 Bank Reconciliations01:34

50 Bank Reconciliation-Accounting%2C Financial19:38

Worksheet - 9.10 Bank Reconciliation January23:29

Worksheet - 9.12 Bank Reconciliation Adjusting Entries January17:48

Worksheet - 9.15 Bank Reconciliation February21:01

+4 more lectures

SEC 7 Petty Cash

6 lectures • 01:00:31

6 Petty Cash01:30

60 Petty Cash20:05

800.10 Petty Cash Journal Entries Part 1-Accounting%2C Financial10:02

800.20 Petty Cash Journal Entries Part 2-Accounting%2C Financial10:39

Multiple Choice Questions 7 - Cash and Internal Controls08:50

+1 more lectures

Section 8 Receivables & The Allowance vs The Direct Write Off Methods

2 lectures • 16:13

Receivables & The Allowance vs The Direct Write Off Methods00:50

10 Receivables Introduction15:23

SEC 8 Accounts Receivable Journal Entries

5 lectures • 01:15:18

2 Accounts Receivable Journal Entries00:48

20 Accounts Receivable Journal Entries10:05

05 Prob 5 Debits and Credits Accounts Receivable29:21

Worksheet - 07 Prob 8 General Ledger Accounts Receivable24:47

10 Multiple Choice Questions - Accounts Receivable10:17

SEC 8 Accounts Receivable Subsidiary Ledger

5 lectures • 41:02

3 Accounts Receivable Subsidiary Ledger00:34

30 Accounts Receivable AR Subsidiary Ledger Explained09:00

Worksheet - 10 700.10 Accounts Receivable Subsidiary Ledger 700 Part 112:31

Worksheet - 20 700.20 Accounts Receivable Subsidiary Ledger 700 Part 211:58

20 Multiple Choice Questions - Accounts Receivable06:59

SEC 8 Direct Write Off Method

4 lectures • 01:02:33

4 Direct Write Off Method00:48

40 Direct Write Off Method19:57

Worksheet - 20 Worksheet Direct Write Off Method34:36

30 Multiple Choice Questions - Accounts Receivable07:12

SEC 8 Allowance Method

6 lectures • 01:23:42

5 Allowance Method01:26

50 Allowance Method Accounts Receivable30:37

Worksheet - 30 900.10 Allowance Method 900 Part 115:31

Worksheet - 32 900.20 Allowance Method 900 Part 2-Accounting%2C Financial15:44

Worksheet - 34 900.30 Allowance Method 900 Part 3-Accounting%2C Financial11:23

+1 more lectures

SEC 8 Allowance Method Compared to The Direct Write Off Method

3 lectures • 31:50

6 Allowance Method Compared to The Direct Write Off Method01:15

60 Allowance Method VS Direct Write Off Method20:37

50 Multiple Choice Questions - Accounts Receivable09:58

SEC 8 Allowance for Doubtful Accounts Calculation

6 lectures • 01:02:41

7 Allowance for Doubtful Accounts Calculation01:04

70 Allowance Method % Accounts Receivable vs % Sales Method19:00

Worksheet - 40 % of AR Method - Allowance for Doubtful Accounts14:34

Worksheet - 50 % of Sales Method - Allowance for Doubtful Accounts10:24

60 Multiple Choice Questions - Accounts Receivable06:11

+1 more lectures

Notes Receivables

10 lectures • 03:02:25

8 Notes Receivable01:39

80 Notes Receivable24:26

90 Interest Calculations20:18

Worksheet - 60 Worksheet - Simple Interest18:48

PDF - 100 Note Receivable Example00:08

+5 more lectures

Section 9 Depreciation Calculation & Fixed Assets

2 lectures • 12:26

Depreciation Calculation & Fixed Assets01:12

10 Property Plant & Equipment11:14

SEC 9 Lump Sum Purchase

3 lectures • 14:26

2 Lump Sum Purchase01:11

20 Property Plant & Equipment Lump Sum Purchase05:56

20 Worksheet - Lump Sum Purchase07:19

SEC 9 Straight Line Method of Depreciation

5 lectures • 59:23

3 Straight Line Method of Depreciation00:55

30 1000.10 Calculating Depreciation Straight Line31:15

Worksheet - 30 1000.10 Depreciation Straight Line Ex Part 111:01

Worksheet - 30.1 1000.20 Depreciation Straight Line Ex Part 211:29

10 Multiple Choice Question - Property Plant & Equipment04:43

SEC 9 Double Declining Balance Method of Depreciation

6 lectures • 01:22:13

4 Double Declining Balance Method of Depreciation01:10

40 Calculating Depreciation Double Declining Balance38:28

Worksheet - 40 Depreciation Ex double declining Part 111:01

Worksheet - 40.1 Depreciation Ex double declining part 211:09

Worksheet - 40.2 Depreciation Ex double declining part 312:44

+1 more lectures

SEC 9 Units of Production Depreciation Method

5 lectures • 01:10:50

5 Units of Production Depreciation Method00:54

50 Calculating Depreciation Units of Production33:51

Worksheet - 50 1000.60 Depreciation units of production Part 115:01

Worksheet - 50.1 1000.70 Depreciation Ex units of production Part 213:12

30 Multiple Choice Question - Property Plant & Equipment07:52

SEC 9 Calculating Depreciation for a Partial Period

4 lectures • 32:22

6 Calculating Depreciation for a Partial Period00:58

Partial Year Depreciation09:48

Worksheet - 55 Partial Year Depreciation11:24

40 Multiple Choice Question - Property Plant & Equipment10:12

SEC 9 Capital Expenditures and Revenue Expenditures

4 lectures • 27:21

7 Capital Expenditures and Revenue Expenditures00:56

Capital and Revenue Expenditures08:25

50 Multiple Choice Question - Property Plant & Equipment06:44

Short Calculation 111:16

SEC 9 Changes in Accounting Estimates

5 lectures • 41:33

8 Changes in Accounting Estimates00:37

60 Change In Estimates10:21

Worksheet - 60 Depreciation Change of Estimate11:56

60 Multiple Choice Question - Property Plant & Equipment07:08

Short Calculation 211:31

SEC 9 Disposals of Property Plant and Equipment

11 lectures • 01:20:51

9 Disposals of Property Plant and Equipment01:01

70 Disposals Fully Depreciated No Cash Received07:33

70.1 Worksheet – Disposals Fully Depreciated No Cash05:25

80 Disposal Fully Depreciated & Cash Received u07:38

80 Worksheet – Disposals Fully Depreciated Cash Received05:54

+6 more lectures

Section 10 Payroll Accounting

1 lectures • 06:03

10 Payroll Introduction06:03

SEC 10 Payroll Legislation

4 lectures • 21:04

2 Payroll Legislation01:30

20 Payroll Legislation07:53

310 Minimum Wage & Nonexempt Employees05:33

410 Fringe Benefits06:08

SEC 10 Payroll Forms and Time-Frames

4 lectures • 34:52

3 Payroll Forms and Time-Frames01:25

21 Payroll Consideration and Tax Forms16:19

80 Payroll Tax Expense Journal Entry08:17

90 Pay Payroll Tax Expense Journal Entry08:51

SEC 10 Payroll Register & Earning Record

3 lectures • 18:28

4 Payroll Register & Earnings Record01:55

330 Payroll Register09:41

Worksheet - 25 Earnings Record06:52

SEC 10 Regular Pay & Overtime Pay Calculation

5 lectures • 28:57

5 Regular Pay & Overtime Pay Calculation00:58

10 Regular & Overtime Pay Calculation05:11

Worksheet - 10 Regular & Overtime Pay07:08

315 Payroll Calculations06:13

320 Overtime Calculation09:27

SEC 10 Federal Income Tax & Retirement Plans

8 lectures • 58:14

6 Federal Income Tax & Retirement Plans01:42

510 Federal Income Tax (FIT)14:47

Worksheet - 20 Federal Income Tax Withholding FIT04:17

415 Deductions From Gross Pay06:23

420 Retirement Plans09:16

+3 more lectures

SEC 10 Federal Income Contributions Act Social Security

5 lectures • 33:23

7 Federal Income Contributions Act Social Security01:01

30 Federal Income Contributions Act (FICA)08:06

515 Social Security11:36

30 Social Security Tax Calculation06:10

Worksheet - 30 OASDI06:30

SEC 10 Federal Income Contribution Act Medicare

4 lectures • 15:58

8 Federal Income Contribution Act (FICA) -Medicare01:14

520 Medicare Tax06:03

40 Medicare Tax Calculation03:31

Worksheet - 40 Worksheet HI05:10

SEC 10 Federal Unemployment Tax Act (FUTA)

6 lectures • 25:22

9 Federal Unemployment Tax Act (FUTA)00:39

40 FUTA, SUTA Workers Compensation04:53

615 Federal & State Unemployment Tax09:19

50 Federal Unemployment Tax Act Calculation03:43

Excel Worksheet Download00:08

+1 more lectures

SEC 10 Worksheet FUTA

3 lectures • 14:20

10 Other Deductions00:30

425 Post Tax Deductions05:42

525 Other Deductions & Payment Methods08:08

SEC 10 Taxes – Employer & Employee

2 lectures • 10:33

11 Taxes Employer & Employee01:12

605 Taxes Employer Employee09:21

SEC 10 Employer Responsibilities

5 lectures • 30:54

12 Employer Responsibilities01:25

60 Employer Responsibilities and Processes07:51

55 Employer Taxes Calculation07:19

610 FICA Employer04:57

Worksheet - 55 Employer Taxes09:22

SEC 10 Payroll Expense Journal Entry

4 lectures • 31:56

13 Payroll Expense Journal Entry01:18

505 Net Pay Calculation05:22

70 Payroll Expense Journal Entry10:40

Worksheet - 70 Payroll Expense Journal Entry14:36

SEC 10 Payroll Taxes Journal Entry

3 lectures • 20:39

14 Payroll Taxes Journal Entry01:42

80 Payroll Tax Expense Journal Entry08:17

Worksheet - 80 Worksheet Payroll Tax Expenses Journal Entry10:40

SEC 10 Paying Payroll Tax Liability Journal Entry

3 lectures • 21:12

15 Paying Payroll Tax Liability Journal Entry01:06

90 Pay Payroll Tax Expense Journal Entry08:51

Worksheet - 90 Pay Payroll Expenses Journal Entry11:15

SEC 10 Payroll Ethics & Practices

1 lectures • 08:28

50 Payroll Ethics & Practices08:28

SEC 10 Payroll Controls & Documentation

3 lectures • 15:33

17 Payroll Controls & Documentation00:15

100 Payroll Controls and Documentation08:12

10 Multiple Choice – Payroll07:06

SEC 10 Form 941

3 lectures • 32:23

620 Form 94111:57

100 Form 94114:29

20 Multiple Choice – Payroll05:57

SEC 10 Form 940

4 lectures • 26:16

19 Form 94000:13

110 Form 94011:35

625 Form 94008:51

30 Multiple Choice – Payroll05:37

SEC 10 Form W-2 & W-3

4 lectures • 26:34

19 Form 94000:13

120 Form W-3 & W-211:57

920 Form W-310:33

40 Multiple Choice – Payroll03:51

SEC 10 Reconcile Year End Payroll Forms

3 lectures • 15:45

21 Comprehensive Accounting Cycle Problem01:52

130 Reconciling Year End Payroll Forms09:19

50 Multiple Choice – Payroll04:34

SEC 10 - Comprehensive Payroll Problem

21 lectures • 07:01:38

Excel Worksheet Download00:05

10 Payroll Comp Problem Introduction (Copy)05:21

20 Payroll Comp Problem August Payroll Register53:25

30 Payroll Comp Problem August Earning Records10:19

40 Payroll Comp Problem August Journal Entry37:22

+16 more lectures

Section 11 Partnership Accounting

1 lectures • 20:52

10 Partnerships Introduction20:52

SEC 11 Set up New Partnership

3 lectures • 24:22

2 Set up New Partnership01:45

12 Partnership Set Up New Partnership11:15

Worksheet - 12 New Partnership11:22

SEC 11 Partnership Income Allocation

6 lectures • 01:17:52

3 Partnership Income Allocation01:45

20 Partnership Income Allocation20:04

Worksheet - 20 Part 1 Partnership Income Allocation11:33

Worksheet - 20 Part 2 Partnership Income Allocation.13:02

Worksheet - 21 Partnership Income Allocation With Overallocation24:42

+1 more lectures

SEC 11 Partnership Draws

4 lectures • 26:37

4 Partnership Draws01:25

22 Partnership Withdraws10:03

Worksheet - 22 Partnership Withdraws10:09

30 - Multiple Choice – Partnership05:00

SEC 11 Partnership Closing Process

4 lectures • 41:22

5 Partnership Closing Process02:38

23 Partnership Closing Process12:20

Worksheet - 23 Partnership Closing Process17:34

40 - Multiple Choice – Partnership08:50

SEC 11 Partner Leaves Partnership

8 lectures • 54:41

6 Partner Leaves Partnership01:12

25 Partnership Partner Leaves Partnership Cash Equal to Capital Account03:43

26 Partnership Partner Leaves Partnership Cash less then Capital Account07:22

28 Partner Leaves Partnership Cash Greater then Capital Account06:25

Excel Worksheet Download00:05

+3 more lectures

SEC 11 New Partner is Added to Partnership

9 lectures • 01:26:39

7 New Partner Added to Partnership01:13

29 Add New Partnership - Cash More Then Capital Account09:23

29.1 Add New Partner - Cash Less Then Capital Account15:26

29.2 partner sells partnership interest to a new Partner10:05

29.3 Partner sells partnership interest - Cash Received Less Then Capital05:35

+4 more lectures

SEC 11 Liquidation of Partnership

14 lectures • 03:40:09

8 Liquidation of Partnership02:25

30 Partnership Liquidation Gain on sale of Assets16:54

Worksheet - 30 Part 1 Partnership Liquidation Gain on Sale of Assets15:33

Worksheet - 30 Part 2 Partnership Liquidation Gain on Sale of Assets21:20

40 Partnerships Liquidation Loss on sale of Assets13:57

+9 more lectures

Section 12 Accounting for Corporations

1 lectures • 27:34

10 Corporation Introduction27:34

SEC 12 Issuing Common Stock for Cash

3 lectures • 32:42

2 Issuing Common Stock for Cash01:58

20 Stock for Cash12:56

Worksheet - 20 Issuing Stock for Cash17:48

SEC 12 Issuing Common stock for Non-Cash

4 lectures • 31:06

3 Issuing Common Stock for Non-Cash01:11

30 Issuing Stock for Non-Cash Asset10:37

Worksheet - 30 Issuing Stock for Non Cash Assets12:28

10 Multiple Choice Questions - Corporations06:50

SEC 12 Cash Dividends

5 lectures • 38:57

4 Cash Dividends00:46

40 Dividends Overview10:28

45 Cash Dividends09:47

Worksheet - 45 Cash Dividends13:19

20 Multiple Choice Questions - Corporations04:37

SEC 12 Stock Dividends

4 lectures • 37:51

5 Stock Dividends00:32

50 Stock Dividends & Stock Split10:36

Worksheet - 55 Stock Dividends20:03

30 Multiple Choice Questions - Corporations06:40

SEC 12 Preferred Stock

5 lectures • 35:09

6 Preferred Stock00:38

60 Preferred Stock Introduction06:15

65 Preferred Stock Example09:31

Worksheet - 65 Preferred Stock10:07

40 Multiple Choice Questions - Corporations08:38

SEC 12 Treasury Stock

5 lectures • 54:02

7 Treasury Stock00:37

70 Treasury Stock17:30

Worksheet - 70 Treasury Stock Part 1%2C how to calculate-Accounting%2C Financial15:32

Worksheet - 70 Treasury Stock Part 2%2C how to calculate-Accounting%2C Financial14:51

50 Multiple Choice Questions - Corporations05:32

SEC 12 Statement of Stockholders’ Equity & Retained Earnings

6 lectures • 01:13:19

8 Statement of Stockholders' Equity & Retained Earnings00:49

80 Statement of Retained Earnings12:57

Worksheet - 80 Statement of Retained Earnings11:39

90 Corporations Statement of Stockholders Equity24:01

Worksheet - 90 Statement of Stockholders' Equity17:13

+1 more lectures

SEC 12 Closing Process - Corporation

5 lectures • 50:38

9 Closings Process Corporations00:45

95 Corporation Closing Process15:48

Worksheet - 95 Closing Process - Corporations19:40

70 Multiple Choice Questions - Corporations07:06

Short Calculation 107:19

SEC 12 Earnings Per Share

5 lectures • 30:50

10 Earning Per Share00:39

100 Corporations Earning Per Share07:29

Worksheet - 100 Earning Per Share07:13

80 Multiple Choice Questions - Corporations05:19

Short Calculation 210:10

Section 13 Bonds Payable, Notes Payable, Liabilities

1 lectures • 09:34

10 Bonds & Notes Payable Introduction09:34

SEC 13 Bonds - Market Rate vs Contract Rate

5 lectures • 23:53

2 Bonds Market Rate vs Contract Rate00:22

20 Bond Issued at Par05:36

25 Bonds Market Rate vs Contract Rate07:32

Worksheet - 20 Bond Issued at Par05:32

Worksheet - 25 Bond Interest Journal Entry04:51

SEC 13 Bonds Issued at Premium

5 lectures • 45:58

3 Bonds Issued at Premium01:02

50 Bond Issued at Premium07:19

Worksheet - 50 Bond Issue at Premium09:07

60 Premium Amortization & Interest12:30

Worksheet - 55 Bond Premium and Interest Journal Entry16:00

SEC 13 Bonds Issued at Discount

8 lectures • 01:55:06

4 Bonds Issued at Discount00:54

40 Issue bond at a discount calculate and record interest payment26:14

Worksheet - 30 Bond Issued at Discount09:12

Worksheet - 35 Bond Discount & Interest18:04

Worksheet - 1400.10 Record issuance of bond at a discount amortize straight line15:33

+3 more lectures

SEC 13 Present Value - Bond Price

7 lectures • 01:24:07

5 Present Value Bond Price02:36

70 Bonds Present Value Formulas13:32

Worksheet - 70 Bond Present Value Formula15:00

80 Bond Price Present Value Tables09:22

Worksheet - 80 Bond Present Value Tables11:02

+2 more lectures

SEC 13 Bond Retirement

3 lectures • 21:13

6 Bond Retirement00:54

100 Bond Retirement08:42

Worksheet - 100 Bond Retirement11:37

SEC 13 Notes Payable Introduction

4 lectures • 13:25

7 Notes Payable Introduction00:49

110 Notes Payable Introduction05:18

120 Note Payable Journal Entry03:46

Worksheet - 120 Installment Note Initial Journal Entry03:32

SEC 13 Amortization Schedule - Notes Payable

5 lectures • 44:54

8 Amortization Schedule Notes Payable01:12

130 Amortization Schedule11:51

140 Notes Payable Payments Journal Entry07:11

Worksheet - 130 Note Payable Amortization14:45

Worksheet - 140 Note payable interest payments09:55

SEC 13 Notes Payable Adjusting Entries

4 lectures • 24:49

9 Notes Payable Adjusting Entries01:24

150 Notes Payable Adjusting Entry09:49

Worksheet - 150 Note Payable Adjusting Entry 107:10

Worksheet - 160 Note Payable Adjusting Entry 206:26

SEC 13 Financial Statements - Long Term Liabilities

9 lectures • 01:19:05

10 Financial Statements Long Term Liabilities01:21

170 Notes Payable Current vs. Non Current18:10

Worksheet - 170 FS St LT One Loan 1 TB Account09:15

Worksheet - 180 FS St LT Loan 1 loan 2 TB Accounts07:52

Worksheet - 190 FS ST LT 2 loans 1 TB account07:45

+4 more lectures

SEC 13 Bond Characteristics and Types

3 lectures • 09:58

11 Bond Characteristics and Types00:41

230 Bond Characteristics02:06

80 Multiple Choice Question – Long Term Liabilities07:11

SEC 13 Effective Method - Amortization Bond Discount & Premium

6 lectures • 01:02:40

12 Effective Method Amortization Bond Discount & Premium00:48

235 Discount Amortization Effective Method13:18

Worksheet - 230 Effective Interest Discount Amortization17:03

240 Premium Amortization Effective Method13:17

Worksheet - 240 Effective Interest Premium Amortization13:25

+1 more lectures

SEC 13 Leases - Operating vs. Capital

4 lectures • 30:27

13 Leases Operating vs. Capital01:01

250 Leases Capital vs. Operating11:53

100 Multiple Choice Question – Long Term Liabilities09:33

Short Calculation 208:00

Section 14 Statement of Cash Flows

1 lectures • 05:39

10 Statement of Cash Flows Introduction05:39

SEC 14 Classification of Cash Flows and Thought Process

2 lectures • 20:30

20 Classification of Cash Flows11:30

30 Cash Flow Category Thought Process09:00

SEC 14 Statement of Cash Flows Outline & Resources Needed for Construction

3 lectures • 26:35

40 Statement of Cash Flow Outline14:27

50 Statement of Cash Flow Tools For Completion05:12

60 Statement of Cash Flow Strategy06:56

SEC 14 Direct Method vs Indirect Method

1 lectures • 07:14

70 Statement of Cash Flows Direct Method Vs Indirect Method07:14

SEC 14 Create Statement of Cash Flows - Indirect Method

21 lectures • 04:50:00

80 Statement of Cash Flow Indirect Method Worksheet10:52

90 Statement of Cash Flow Indirect Method Cash & Net Income07:04

100 Statement of Cash Flow Indirect Method Adjustments to Reconcile Net Income t07:26

110 Statement of Cash Flow Indirect Method Change In Accounts Receivable10:17

120 Statement of Cash Flow Indirect Method Change In Inventory06:41

+16 more lectures

SEC 14 Create Statement of Cash Flows - Direct Method

5 lectures • 01:19:40

190 Statement of Cash Flow Direct Method16:20

190.10 Worksheet Direct Method Cash from Operations Stmt of Cash Flow19:29

190.20 Worksheet Direct Method Cash from Investing Act Stmt of Cash Flow08:47

190.30 Worksheet Direct Method Cash from financing Act Stmt of Cash Flow12:39

190.40 Worksheet Direct Method Finalize Act Stmt of Cash Flow22:25

SEC 14 Non Cash Investing & Financing

1 lectures • 06:24

200 Statement of Cash Flow Non Cash Items06:24

Description

Get ready for a deep dive into Financial Accounting, a critical skill for any aspiring accountant, business owner, or student. This comprehensive course offers you lifetime access to many sections of engaging video content, a multitude of real-world examples, practice problems, and an extensive, downloadable e-book in EPUB, MOBI, and PDF formats.

From the fundamentals of the double-entry accounting system to the complexities of long-term liabilities and cash flow statements, this course covers a breadth of topics equivalent to an undergraduate Financial Accounting program. The course supplements academic study by providing an online resource you can refer back to, ensuring the concepts stay fresh and readily accessible.

We begin with an introduction to Financial Accounting and progress steadily through various topics, including recording transactions, adjusting and closing entries, merchandising transactions, and various cost flow assumptions. Specialized sections delve into subsidiary ledgers, bank reconciliations, depreciation methods, payroll accounting, and more.

The course incorporates Excel for practical application of the theories taught. If you're unfamiliar with Excel, fear not! We provide pre-formatted worksheets and step-by-step instructional videos that move at a friendly pace.

We debunk the myths surrounding debits and credits, illustrate how to record transactions using these methods, and demonstrate the importance of period-end adjusting entries.

This course is more than just a procedural guide—it stresses the understanding of underlying theories to make learners flexible and adaptable in a constantly changing environment. You'll learn the rationale behind financial accounting processes, ensuring you can apply these skills in a variety of contexts.

Incorporating real-world scenarios, each section breaks down complex concepts into understandable chunks, followed by practical application in Excel.

Topics include, but are not limited to:

· Debits and Credits

· Period End Adjusting Entries

· Recording Closing Entries

· Inventory Transactions

· Subsidiary Ledgers & Special Journals

· Bank Reconciliations

· Accounts Receivable

· Depreciation Methods

· Payroll Accounting

· Partnership Accounting

· Corporate Accounting

· Bonds Payable, Notes Payable, & Long-Term Liabilities

· Cash Flow Statements

The course is designed to start at the basics and gradually advance to the level of detail expected in an undergraduate program. By course completion, you will have a firm grasp on Financial Accounting that not only stands the test of time but also serves as a continuously available resource in your accounting journey. Enroll now to become a confident, adaptable accounting professional.

Who this course is for:

Accounting Students: This course serves as an excellent supplement to formal accounting education, providing a practical understanding of financial accounting concepts and their application in real-world scenarios.
Professionals Transitioning to Accounting Roles: If you are considering a career change into an accounting field or seeking to enhance your accounting knowledge and skills, this course will provide a solid foundation.
Small Business Owners and Entrepreneurs: Understanding financial accounting is essential for effectively managing business finances. This course will equip you with the knowledge to interpret financial statements, record transactions accurately, and make informed financial decisions.
Finance and Business Professionals: Professionals working in finance, business, or related fields who want to expand their understanding of financial accounting principles and practices will benefit from this course.
Self-learners and Lifelong Learners: If you have a genuine interest in learning financial accounting, whether for personal enrichment or curiosity, this course provides a comprehensive and structured learning experience.
Bookkeepers and Accountants: Bookkeepers who want to enhance their knowledge of financial accounting principles or accountants looking to refresh their skills will find this course valuable for professional development.
Individuals Preparing for Professional Certification Exams: If you are studying for professional accounting certifications, such as the CPA (Certified Public Accountant) exam, this course can serve as a supplementary resource to reinforce and deepen your understanding of financial accounting concepts.
Anyone Interested in Understanding Business Finances: Financial literacy is crucial for personal and professional success. This course will demystify financial accounting, empowering individuals to make informed financial decisions in their personal and professional lives.

Download Course

This course includes:

115.5 hours on-demand video
63 articles
672 downloadable resources
Access on mobile and TV
∞Full lifetime access
Certificate of completion

Instructor

Robert (Bob) Steele

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