Financial Accounting: From Beginner To Expert

Fire your Accountant !!

What you'll learn

Record transactions in the relevant books of account

Requirements

Be able to read and understand English Language and also basic understanding of Arithmetic

Description

The logic of book-keeping and accounting is completely covered in this course. If you are new to keeping financial records and you are interested in learning the practice of preparation of financial accounts; then this course is for you. It will take you from beginner to advanced. Enrol to experience the first class tutoring.

Overview

Section 1: Introduction to Business and Accounting

Lecture 1 Lecture 1: Welcome!!!!!

Lecture 2 What is a Business

Lecture 3 Sole Propietorship

Lecture 4 Partnership

Lecture 5 Company

Lecture 6 Introduction to Financial Accounting

Section 2: Conceptual Framework

Lecture 7 Introduction

Lecture 8 Objectives and Characteristics of Financial Statements

Lecture 9 Elements of Financial Statements

Lecture 10 Recognition of Elements of Financial Statements

Lecture 11 Measurement of Elements of Financil Statements

Lecture 12 Concept of Capital and Capital Maintenance

Section 3: Recording of Transactions

Lecture 13 Double Entry Principle

Lecture 14 Accounting Equation

Lecture 15 Problem 1 on Accounting Equation

Lecture 16 Problem 2 on Accounting Equation

Lecture 17 Introduction to Accounting System

Lecture 18 Identification of Transactions

Lecture 19 Source Documents

Lecture 20 Analysis of Transactions

Lecture 21 Problem 1 : Analysis of Transaction

Lecture 22 Problem 2 : Analysis of Transaction

Lecture 23 Problem 3 : Analysis of Transaction

Lecture 24 Introduction to Day Book

Lecture 25 Sales Day Book

Lecture 26 Purchases Day Book

Lecture 27 Return Inward Day Book

Lecture 28 Return Outward Day Book

Lecture 29 Cash Book

Lecture 30 Discount

Lecture 31 Problem on Cash Book

Lecture 32 Petty Cash Book

Lecture 33 Problem on Cash Book

Lecture 34 Journal

Lecture 35 Introduction to Ledger

Lecture 36 Posting from Sales Day Book to Ledger

Lecture 37 Posting from Purchases Day Book to Ledger

Lecture 38 Posting fron Return Inwards Day Book to Ledger

Lecture 39 Posting from Returns Outward Day Book to Ledger

Lecture 40 Posting from Cashbook to Ledger

Lecture 41 Posting from Petty Cashbook to Ledger

Lecture 42 Posting from Journal to Ledger

Lecture 43 Balancing Ledger Accounts

Lecture 44 Trial Balance

Lecture 45 Case Study 1A

Lecture 46 Case Study 1B

Lecture 47 Case Study 2A

Lecture 48 Case Study 2B

Lecture 49 Case Study 3A

Lecture 50 Case Study 3B

Lecture 51 Case Study 4A

Lecture 52 Case Study 4B

Section 4: Section 4 : Presentation of Reports

Lecture 53 Introduction

Lecture 54 Statement of Profit or Loss

Lecture 55 Statement of Financial Position

Lecture 56 Problem on Presentation of Report

Section 5: Section 5 : End of the Year Adjustments

Lecture 57 End of the Year Adjustments

Section 6: Section 6 : Inventory

Lecture 58 Introduction

Lecture 59 How to determine the Value of Inventory

Lecture 60 Cost of Purchase

Lecture 61 Cost of Conversion and Other Cost

Lecture 62 Cost Formulas

Lecture 63 First In First Out (FIFO)

Lecture 64 Weighted Average Cost Formula

Lecture 65 Net Realisable Value

Lecture 66 Record of Inventory in the Books of Account

Lecture 67 Problem on Record of Inventory

Lecture 68 Presentation of Inventory

Lecture 69 Problem 1 : Presentation of Inventory

Lecture 70 Problem 2 : Presentation of Inventory

Section 7: Section 7 : Sales Tax

Lecture 71 Introduction to sales Tax

Lecture 72 Problem on Input VAT

Lecture 73 Problem on Output VAT

Section 8: Section 8 : Depreciation and Ammortisation

Lecture 74 Introduction

Lecture 75 Property, Plant & equipment

Lecture 76 Definition of Depreciation

Lecture 77 Depreciable Amount

Lecture 78 Useful Life

Lecture 79 Depreciation Method

Lecture 80 Problem on Depreciation Method

Lecture 81 Change in Depreciation Method

Lecture 82 Change in Useful Life

Lecture 83 Ledger Entries for Depreciation

Lecture 84 Problem on Ledger Entries for Depreciation

Lecture 85 Revaluation of Non - Current Assets

Lecture 86 Problem on Revaluation

Lecture 87 Ledger Entries for Revaluation

Lecture 88 Revaluaton Deficit

Lecture 89 Problem 2 on Ledger Entries for Depreciation

Lecture 90 Excess Depreciation

Lecture 91 Disposal of Non - Current Assets

Lecture 92 Problem 1 on Disposal

Lecture 93 Prolem 2a on Disposal

Lecture 94 Ledger Entries for Disposal

Lecture 95 Problem 2b on Disposal

Lecture 96 Problem on Part Exchange

Lecture 97 Problem 3 on Disposal

Lecture 98 Case Study 1A

Lecture 99 Case Study 1B

Lecture 100 IAS 38 Intangible Non-Current Assets

Lecture 101 Research and Development Cost

Section 9: Section 9 : Accrual and Prepayment

Lecture 102 Introduction

Lecture 103 Problem on Accrual

Lecture 104 Problem of Prepayment

Lecture 105 Double Entry for Accrual

Lecture 106 Double Entry for Prepayment

Lecture 107 Case Study 1A

Lecture 108 Case Study 1B

Section 10: Section 10 : Bad Debt and Allowance for Receivables

Lecture 109 Bad Debt

Lecture 110 Allowance for Receivables

Lecture 111 Problem 1 on Allowance for Receivables

Lecture 112 Increase in Allowance for Receivables

Lecture 113 Decrease in Allowance for Receivables

Lecture 114 Bad Debt Recovered

Lecture 115 Case Study

Section 11: Section 11 : Bank Reconciliation

Lecture 116 Introduction

Lecture 117 Bank Statement

Lecture 118 Reasons for Differences

Lecture 119 Problem 1 on Reconciliation

Lecture 120 Terms Used in Banking

Lecture 121 Problem 2 on Reconciliation

Lecture 122 Problem 3 on Reconciliation

Section 12: Section 12 : Control Account

Lecture 123 Introduction

Lecture 124 Principles of Control Account

Lecture 125 Analysis of Control Account 1

Lecture 126 Analysis of Control Account 2

Lecture 127 Contra Entries

Lecture 128 Case Study

Section 13: Section 13 : Correction of Errors

Lecture 129 Introduction

Lecture 130 Errors that Do Not Affect the Trial Balance

Lecture 131 Correction of Errors that Do Not Affect the Trial Balance

Lecture 132 Correction of Error 2

Lecture 133 Errors that Affect the Trial Balance

Lecture 134 Suspense Account

Lecture 135 Problem 1 Suspense Account

Lecture 136 Problem 2 Suspense Account

Lecture 137 Effect of Suspense Account on the Report

Lecture 138 Case Study 1A

Lecture 139 Case Study 1B

Lecture 140 Case Study 1C

Lecture 141 Case Study 1D

Section 14: Section 14 : Incomplete Records

Lecture 142 Introduction

Lecture 143 How to Determine the Incomplete Information

Lecture 144 Accounting and Business Equation

Lecture 145 Problem 1 on Business and Accounting Equation

Lecture 146 Problem 2 on Business and Accounting Equation

Lecture 147 Credit Sales and Trade receivables

Lecture 148 Purchases and Trade Payables

Lecture 149 Inventory and Cost of Sales

Lecture 150 Problem 1 on Inventory and Cost of Sales

Lecture 151 Problem 2 on Inventory and Cost of Sales

Lecture 152 Stolen or Destroyed Goods

Lecture 153 Ledger Entry for Inventory Loss

Lecture 154 Problem 1 Accruals and Prepayment

Lecture 155 Problem 2 Accruals and Prepayment

Lecture 156 Problem A on Cash Book

Lecture 157 Problem B on Cash Book

Lecture 158 Problem C on Cash Book

Lecture 159 Problem D on Cash Book

Section 15: Section 15 : Not For Profit Making Organisation

Lecture 160 Introduction

Lecture 161 Accounting Records and Reporting fo NFPO

Lecture 162 Comparison of Terminology

Lecture 163 Subscription and Donation

Lecture 164 Problem on Subscription and Donation

Lecture 165 Membership Fee and Entrance Fee

Lecture 166 Case Study 1A

Lecture 167 Case Study 1B

Lecture 168 Case Study 1C

Lecture 169 Case Study 1D

Section 16: Section 16 : Company Account

Lecture 170 Introduction

Lecture 171 Types of Share Capital

Lecture 172 Problem on Types of Share Capital

Lecture 173 Types of Share Issued

Lecture 174 Problem on Cummulative and Non-Cummulative Preference Shares

Lecture 175 Double Entry for Preference Shares

Lecture 176 Ordinary Shares

Lecture 177 Problem on Ordinary Shares

Lecture 178 Term of Issue of Shares

Lecture 179 Issue of Shares at Par

Lecture 180 Issue of Shares at a Discount

Lecture 181 Issue of Shares at a Premium

Lecture 182 Reserves

Lecture 183 Types of Reseves

Lecture 184 Loan Stocks or Bond

Lecture 185 Bonus Issue

Lecture 186 Right Issue

Lecture 187 Problem on Right Issue

Section 17: Section 17 : Presentation of Financial Statements

Lecture 188 Introduction

Lecture 189 IAS 1 Presentation of Financial Statement

Lecture 190 Statement of Financial Position

Lecture 191 Statement of Profit or Loss

Lecture 192 Statement of Changes in Equity

Lecture 193 Notes to the Financial Statement

Lecture 194 Problem 1A

Lecture 195 Problem 1B

Lecture 196 Problem 1C

Lecture 197 Problem 1D

Lecture 198 Problem 1E

Lecture 199 Problem 1F

Section 18: Section 18 : Statement of Cashflows

Lecture 200 Statement of Cashflows A

Lecture 201 Statement of Cashflows B

Lecture 202 Problem 1A

Lecture 203 Problem 1B

Lecture 204 Problem 1C

Lecture 205 Problem 1D

Lecture 206 Problem 1E

Lecture 207 Problem 1F

Section 19: Section 19 : Partnership Accounts

Lecture 208 Introduction

Lecture 209 Capital Contribution

Lecture 210 Profit or Loss Sharing Ratio

Lecture 211 Interest on Capital

Lecture 212 Interest on Drawings

Lecture 213 Partnership Salaries

Lecture 214 Financial Statements of Partnership

Lecture 215 Problem 1A Appropriation Account

Lecture 216 Problem 1B Appropriation Account

Lecture 217 Problem 1C Appropriation Account

Lecture 218 Problem 1D Appropriation Account

Lecture 219 Admission of a Partner

Lecture 220 Treatment of Goodwill on Admission

Lecture 221 Treatment of Revaluation on Admission

Lecture 222 Problem 1A Admission

Lecture 223 Problem 1B Admission

Lecture 224 Problem 1C Admission

Lecture 225 Problem 1D Admission

Lecture 226 Problem 1E Admission

Lecture 227 Problem 1F Admission

Lecture 228 Retirement of a Partner

Lecture 229 Problem 1A Retirement of a Partner

Lecture 230 Problem 1B Retirement of a Partner

Lecture 231 Problem 1C Retirement of a Partner

Lecture 232 Problem 1D Retirement of a Partner

Lecture 233 Problem 1E Retirement of a Partner

Lecture 234 Problem 1F Retirement of a Partner

Lecture 235 Dissolution of Partnership

Lecture 236 Accounting for Dissolution

Lecture 237 Problem 1A Dissolution of Partnership

Lecture 238 Problem 1B Dissolution of Partnership

Lecture 239 Problem 1C Dissolution of Partnership

Lecture 240 Problem 1D Dissolution of Partnership

Beginner Students curious to learn basic principles of Accounting as well as the Double Entry Principle