Course Highlights
  • Finally understand the concepts of accounting in a fun way, while retaining all the information.
  • Refresh their understanding of basic financial accounting concepts
  • Learn the conceptual framework of financial reporting
  • Prepare the income statement
  • Prepare the Balance Sheet
  • Prepare and present the supplementary Disclosures
  • Review the concept of Time Value of Money
  • Analyze receivables and write-off bad debts
  • Value Inventories and use the basic inventory assumptions
  • Apply the lower-of-cost-or-market
  • Prepare the statement of cash flows using the indirect method
  • Prepare the statement of cash flows using the direct method
Curriculum

1 Topic
Introduction

14 Topics
The Language of Business
Accounting Equation
Your Review Matters!
Transactions with the Accounting Equation
Accounting Equation and Transactions
Financial Statements - Basics
T-Accounts; Debits and Credits
Journalizing and Posting - Exercise
Accounts Balances
Adjusting Entries
Deferrals
Accrued Expenses - Adjusting Reversing and Paying
Accrued Revenues - Adjusting Reversing Payment
Completing the Accounting Cycle

1 Topic
Conceptual Framework

3 Topics
Usefulness and Limitations of Income Statement; Earnings Management
Single-Step VS. Multi-Step Income Statement
Discontinued Operations; Non-controlling Interest; Other Reporting Issues

3 Topics
Usefulness and Limitations of the Balance Sheet
Classified Balance Sheet; Supplemental Disclosures
Classified Balance Sheet Problem Solving

3 Topics
Time Value of Money - Basics
Present Value and Future Value of a Single Sum
Present Value and Future Value of Annuities

10 Topics
Cash and Cash Equivalents
Petty Cash Fund
Receivables - Introduction
Valuation of Accounts Receivable (Bad Debts)
Bad Debts - Direct Write-Off Method
Direct Write-Off Method Problem Solving
Bad Debts - Allowance Method (Percentage of Sales)
Bad Debts - Allowance Method (Aging Receivables)
Uncollectible Accounts Problem Solving Part 1
Uncollectible Accounts Problem Solving Part 2

3 Topics
Internal Controls Lecture
Cash Management and Internal Controls
Bank Reconciliation

8 Topics
Merchandising Companies
Merchandising - Problem Solving
Manufacturing Companies
Inventory Assumptions (FIFO LIFO Weighted Average Cost Method)
FIFO Problem Solving (Perpetual)
LIFO Problem Solving (Perpetual)
Average Cost Problem Solving (Perpetual)
Dollar-Value LIFO

2 Topics
Lower of Cost or Market
Gross Profit Method

2 Topics
SCF Indirect Method
SCF - Direct Method

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Intermediate Accounting: Learn Everything!

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