Practical Accounting For Assets

Cash, Receivables, Inventory and Long-Term Assets begin with Ten Basic Transactions, Key Terms, Examples and Practice.

What you'll learn

Cash and Internal Controls

Receivables

Merchandise Inventory

Long-Term Assets

Requirements

No prior accounting experience required.

Description

Cash and Internal ControlsLearn why Cash is King, How Internal Controls Protect it and How it is Managed.- Principles, Analytics and Limitations of Internal Controls- Internal Controls for Cash Receipts (Collections) and Cash Held- Internal Controls for Cash Disbursements (Payments)- Bank Reconciliation - Who Knows? Example, Practice, Solution- Cash Management, Forecasting and Working Capital RatiosReceivablesLearn the Collect and Use for BAD BAD Debt transactions with the Allowance Method before the Lend transactions for Notes Receivables.- Overview of Key Issues and Terminology of Receivables- The Aging Schedule and the Allowance Method- Credit Cards and Factors- Notes Receivable Lend, Earn Interest and Collect- Receivables Management, Internal Controls and RatiosMerchandise InventoryExplore seven methods to calculate the Use of Inventory to Sell on One worksheet then with Practice before learning the associated management, valuation and reporting issues.- Overview of Key Issues and Terminology of Merchandise Inventory- Perpetual vs. Periodic Inventory Systems- Specific Identification- FIFO Periodic and LIFO Periodic & Perpetual- Average Cost Periodic and Perpetual- FIFO and LIFO Layers - Multiple Unit Purchases and Sales- Management and Financial Statement TopicsLong-Term AssetsLearn the how to buy then three methods to use long-term assets by depreciating their cost over their useful life.- Overview of Key Issues and Terminology of Long-Term Assets- Acquiring (Buying) a Long-Term Asset- Straight Line Depreciation- Declining Balance Depreciation- Activity Based Depreciation and Depletion- Selling Long-Term Assets- Intangible Assets- Management, Internal Controls and Ratios- Changes to Long-Term Assets - Useful Life, Impairing, Errors

Overview

Section 1: Cash and Internal Controls

Lecture 1 A Brief Look Inside Cash and Internal Controls

Lecture 2 Overview of Key Issues and Terminology of Cash and Internal Controls

Lecture 3 Principles, Analytics and Limitations of Internal Controls

Lecture 4 Internal Controls for Cash Receipts (Collections) and Cash Held

Lecture 5 Internal Controls for Cash Disbursements (Payments)

Lecture 6 Bank Reconciliation: Who Knows? Example, Practice, Solution

Lecture 7 Cash Management, Forecasting and Working Capital Ratios

Section 2: Receivables

Lecture 8 A Brief Look Inside Receivables

Lecture 9 Overview of Key Issues and Terminology of Receivables

Lecture 10 The Aging Schedule and the Allowance Method

Lecture 11 Credit Cards and Factors

Lecture 12 Notes Receivable Lend, Earn Interest and Collect

Lecture 13 Receivables Management, Internal Controls and Ratios

Section 3: Merchandise Inventory

Lecture 14 A Brief Look Inside Merchandise Inventory

Lecture 15 Overview of Key Issues and Terminology of Merchandise Inventory

Lecture 16 Perpetual vs. Periodic Inventory Systems

Lecture 17 Specific Identification

Lecture 18 FIFO Periodic and LIFO Periodic

Lecture 19 FIFO Perpetual and LIFO Perpetual

Lecture 20 Average Cost Periodic and Perpetual

Lecture 21 FIFO and LIFO Layers: Multiple Unit Purchases and Sales

Lecture 22 Management and Financial Statement Topics

Section 4: Long-Term Assets

Lecture 23 A Brief Look Inside Long-Term Assets

Lecture 24 Overview of Key Issues and Terminology of Long-Term Assets

Lecture 25 Acquiring (Buying) a Long-Term Asset

Lecture 26 Straight Line Depreciation

Lecture 27 Declining Balance Depreciation

Lecture 28 Activity Based Depreciation and Depletion

Lecture 29 Selling Long-Term Assets

Lecture 30 Intangible Assets

Lecture 31 Management, Internal Controls and Ratios

Lecture 32 Changes to Long-Term Assets - Useful Life, Impairing, Errors

Businesses, Financial Accounting students and individuals interested in accounting.