Accounting 2 Simplified For You

Manage payroll, cash, receivables, inventories & liabilities in easy to follow steps. Great companion of Accounting 1.

What you'll learn
Prepare the correct type financial statements appropriate for your type of business
Manage inventory. Calculate inventory costs and choose the right valuation method.
Discover ways to improve internal control procedures in your business
Be in control of your cash through bank reconciliation
Manage your receivables and payables
Record payroll and payroll taxes accurately
Use promissory notes in business transactions
Calculate depreciation expense properly using various methods
Estimate your bad debts
Calculate cash discounts and simple interest
Correct mistakes in recording freight transactions
Learn what bookkeepers do in accounting
Develop understanding of accounting procedures
Requirements
Ability to add, subtract, multiply and divide
Some understanding of accounting basics like the accounting cycle, the recording process and financial statements
Analytical Skills
Patience and willingness to learn
Description
Accounting II Simplified for You – is a continuation of a unique, no-nonsense and meaningful approach of understanding basic accounting principles, with special focus in merchandising, inventories, internal control, cash management, fixed assets, receivables, liabilities and payroll. Business transactions are illustrated in simple terms using relevant examples and easy to follow step-by-step instructions. As the saying goes, “Accounting is the language of business." But you are NOT an accountant, so should you be left behind? ABSOLUTELY NOT! You do not need be an accountant to learn accounting. Give yourself the competitive edge of understanding accounting principles and concepts to better navigate the business environment. This is a perfect complement to my course Accounting 1 Simplified for You -where you learn the basic framework of accounting, the recording process, the accounting cycle and financial statement preparation. These 2 courses combined will provide you with the framework you need to fully understand and apply accounting in business for any type of industry. In this class, you will have a series of thoughtfully prepared video lectures using real-life business examples, handouts comes with every lecture and quizzes after each section to reinforce your learning. Dr. Jacinto promotes and encourages lively discussions and feedback sessions. All your questions directly related to the topic will be answered within 24 hours. This course is ideal for college business and accounting students, bookkeepers, business owners, managers and anyone who wants to better understand accounting in business in a way that makes sense to you. For work - this is an excellent go-to accounting course & guide whenever you need a quick refresher; and for school - a perfect study guide and supplement for students in accounting and business.

Overview

Lecture 1 Welcome to Accounting 2 Simplified for You

Lecture 2 Dr. Majo Jacinto's Student Testimonials

Section 1: Accounting for Merchandising

Lecture 3 Service versus Merchandising Income Statement

Lecture 4 Purchasing

Lecture 5 Selling

Lecture 6 Freight

Section 2: Inventories

Lecture 7 Inventory Valuation

Lecture 8 Specific Identification Method

Lecture 9 First In First Out (FIFO)

Lecture 10 Last In First Out (LIFO)

Lecture 11 Average Cost

Section 3: Internal Control

Lecture 12 Internal Control

Section 4: Cash Management

Lecture 13 Bank Reconciliation

Section 5: Receivables

Lecture 14 Accounts Receivable

Lecture 15 Bad Debt Expense

Lecture 16 Allowance Method of Uncollectible Receivables

Lecture 17 Notes Receivable

Section 6: Fixed Assets

Lecture 18 Acquisition and Recording of Fixed Assets

Lecture 19 Straight Line Depreciation

Lecture 20 Units of Production Method

Lecture 21 Double Declining Balance Method

Section 7: Liabilities

Lecture 22 Current versus Long term Liabilities

Lecture 23 Notes Payable

Section 8: Payroll Expense and related taxes and liabilities

Lecture 24 Salaries versus Independent Contractor

Lecture 25 Payroll Taxes and Deductions

Lecture 26 Payroll Register and Employer Payroll Taxes

Section 9: Conclusion

Lecture 27 Wrap Up

Designed for beginners ,Some understanding of financial statements and the accounting cycle,Excellent study guide for accounting and business students who are currently enrolled in their first college accounting courses,Ideal for those who have procrastrinated from taking required accounting courses for fear of difficulty,Bookkeepers, accounting clerks, managers and small business owners who are looking to better understand the landscape of business,College students who are contemplating accounting as a career