Practical Financial Accounting Complete

The Better Way to Learn with Concise Videos, Interactive Excel and Intuitive Approaches to Learn without Memorizing.

What you'll learn

Introduction to Financial Accounting

Foundations of Financial Accounting

AIS Accounting Information Systems

Adjusting Entries for Accruals and Deferrals

Merchandising Operations with the Multi-Step Income Statement

Cash and Internal Controls

Receivables

Merchandise Inventory

Long-Term Assets

Liabilities

Owner's Equity

Statement of Cash Flows

Financial Statement Analysis

Requirements

No prior accounting experience required.

Description

Introduction to Financial AccountingLearn the Societal Role of Accounting, an intuitive accounting equation, our unique 10 Basic transactions, financial statements, interactive transaction guide and key definitions.Foundations of Financial AccountingExplain how the Accounting Principles guide that process and apply your knowledge of Basic Transactions and Debits and Credits. Finish ahead of the Traditional Approach.AIS Accounting Information SystemsLearn by comparing manual and computerized accounting systems then apply your knowledge with practice in a computerized system with a manual key.Adjusting Entries for Accruals and DeferralsMaster the chapter that is often viewed as the most difficult topic in the course with a concise, consistent approach.Merchandising Operations with the Multi-Step Income StatementLearn how to apply the Buy, Pay, Use, Sell and Collect Transactions to Merchandise Inventory and generate a Relevant Income Statement for the Business.Cash and Internal ControlsLearn why Cash is King, How Internal Controls Protect it and How it is Managed.ReceivablesLearn the Collect and Use for BAD BAD Debt transactions with the Allowance Method before the Lend transactions for Notes Receivables.Merchandise 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.Long-Term AssetsLearn the how to buy then three methods to use long-term assets by depreciating their cost over their useful life.LiabilitiesLearn by examples comparing current liabilities, notes payable and bonds, then practice to develop your skills.Owner's EquityLearn a firm foundation of terms and concepts as the basis for a concise three pages for all the transactions before your practice.Statement of Cash FlowsLearn Why Ratios are used while comparing two Companies, Slug versus Star, to understand the How behind the formulasFinancial Statement AnalysisLearn Why Ratios are used while comparing two Companies, Slug versus Star, to understand the How behind the formulas

Overview

Section 1: Introduction to Financial Accounting

Lecture 1 Introducing the Practical Approach to Financial Accounting: A Brief Look Inside

Lecture 2 Accounting's Role in Society and Related Careers

Lecture 3 Hot Dogs R Us: Quick Start with Key

Lecture 4 Making Sense of the Accounting Equation

Lecture 5 The Ten Basic Transactions-Classification Overview for the Whole Course

Lecture 6 Four Major Financial Statements and Cash Flow Activities

Lecture 7 Interactive Transaction Guide Debits Credits, Financial Statements, Cash Flows

Lecture 8 Top 16 Key Terms and 20 Account Definitions Sorted by Financial Statement

Section 2: Foundations of Financial Accounting

Lecture 9 A Brief Look Inside the Financial Foundations Module

Lecture 10 Cash vs. Accrual Accounting

Lecture 11 Certifications, Organizations, Ethics, Laws and Internal Controls

Lecture 12 How the Process Works Repeated and Expanded

Lecture 13 The Ten Basic Transactions Expanded: Reverses, Use, Combinations, Triggers

Lecture 14 Demystifying Debits Credits and Account Balances

Lecture 15 Using the Practical Approach in your Homework Software

Lecture 16 Transaction Practice: Self Graded

Section 3: AIS: Accounting Information Systems

Lecture 17 A Brief Look Inside Accounting Information Systems

Lecture 18 Overview Key Issues and Terminology of Accounting Information Systems

Lecture 19 Process Flowcharts comparing Manual and Computerized AIS

Lecture 20 A Closer Look at Controls, Trial Balance Tips and the Closing Process

Lecture 21 Truck Shack Transaction Analysis Practice

Lecture 22 Truck Shack Key: Transactions, Financial Statements, Journal Entries and Ledger

Lecture 23 More Good Stuff: Detail of Process Flowcharts and Practical T Accounts List

Section 4: Adjusting Entries for Accruals and Deferrals

Lecture 24 A Brief Look Inside Adjusting Entries for Accruals and Deferrals

Lecture 25 Overview Key Issues and Terminology of Adjusting Entries, Accruals and Deferrals

Lecture 26 Accruals and Deferrals Classification Grid: Practice and Solution

Lecture 27 Deferrals (Cash Before Delivery) Unearned Revenue, Prepaid Expense

Lecture 28 Accrued Revenue and Interest

Lecture 29 Accrued Payroll Expense

Lecture 30 Assets Used: Accrued Supplies and Depreciation Expense

Lecture 31 Adjusting Entries Practice, Key, Trial Balance Key and Chart

Section 5: Merchandising Operations with the Multi-Step Income Statement

Lecture 32 A Brief Look Inside Merchandising with the Multi-Step Income Statement

Lecture 33 Overview and Terminology of Merchandising Operations + Multi-Step IS

Lecture 34 Summary of Transactions from the Buyers and Sellers Perspectives

Lecture 35 FOB Shipping Terms have a Big Impact at the End of the Period

Lecture 36 Transactions and Statements: Example, Practice and Solution

Lecture 37 Multi-Step Income Statement With Margin Ratios

Section 6: Cash and Internal Controls

Lecture 38 A Brief Look Inside Cash and Internal Controls

Lecture 39 Overview of Key Issues and Terminology of Cash and Internal Controls

Lecture 40 Principles, Analytics and Limitations of Internal Controls

Lecture 41 Internal Controls for Cash Receipts (Collections) and Cash Held

Lecture 42 Internal Controls for Cash Disbursements (Payments)

Lecture 43 Bank Reconciliation - Who Knows? Example, Practice, Solution

Lecture 44 Cash Management, Forecasting and Working Capital Ratios

Section 7: Receivables

Lecture 45 A Brief Look Inside Receivables

Lecture 46 Overview of Key Issues and Terminology of Receivables

Lecture 47 The Aging Schedule and the Allowance Method

Lecture 48 Credit Cards and Factors

Lecture 49 Notes Receivable Lend, Earn Interest and Collect

Lecture 50 Receivables Management, Internal Controls and Ratios

Section 8: Merchandise Inventory

Lecture 51 A Brief Look Inside Merchandise Inventory

Lecture 52 Overview of Key Issues and Terminology of Merchandise Inventory

Lecture 53 Perpetual vs. Periodic Inventory Systems

Lecture 54 Specific Identification

Lecture 55 FIFO Periodic and LIFO Periodic

Lecture 56 FIFO Perpetual and LIFO Perpetual

Lecture 57 Average Cost Periodic and Perpetual

Lecture 58 FIFO and LIFO Layers: Multiple Unit Purchases and Sales

Lecture 59 Management and Financial Statement Topics

Section 9: Long-Term Assets

Lecture 60 A Brief Look Inside Long-Term Assets

Lecture 61 Overview of Key Issues and Terminology of Long-Term Assets

Lecture 62 Acquiring (Buying) a Long-Term Asset

Lecture 63 Straight Line Depreciation

Lecture 64 Declining Balance Depreciation

Lecture 65 Activity Based Depreciation and Depletion

Lecture 66 Selling Long-Term Assets

Lecture 67 Intangible Assets

Lecture 68 Management, Internal Controls and Ratios

Lecture 69 Changes to Long-Term Assets - Useful Life, Impairing, Errors

Section 10: Liabilities

Lecture 70 A Brief Look Inside Liabilities

Lecture 71 Overview of Key Issues and Terminology of Liabilities

Lecture 72 Current Liabilities

Lecture 73 Notes Payable

Lecture 74 Issuing Bonds Payable

Lecture 75 Bonds Amortization: Straight Line

Lecture 76 Bond Amortization: Effective Interest

Lecture 77 Reporting Liabilities, Liquidity and Solvency Ratios

Section 11: Owner's Equity

Lecture 78 A Brief Look Inside Owner's Equity

Lecture 79 Overview of Key Issues and Terminology of Owner's Equity

Lecture 80 Corporations and Other Forms of Ownership

Lecture 81 Issuing (Selling) Stock

Lecture 82 Treasury (Repurchasing) Stock

Lecture 83 Cash Dividends: Returning Profits to Owners

Lecture 84 Stock Dividends and Stock Splits

Lecture 85 Balance Sheet and Investor Ratios

Section 12: Statement of Cash Flows

Lecture 86 A Brief Look inside the Statement of Cash Flows

Lecture 87 Overview of Key Issues and Terminology of the Statement of Cash Flows

Lecture 88 Practical T Method of Cash Inflows and Outflows

Lecture 89 Sections of the Statement of Cash Flows

Lecture 90 Preparing the SCF with the Indirect Method

Lecture 91 Interactive Cash Flow Model

Section 13: Financial Statement Analysis

Lecture 92 A Brief Look Inside Financial Statement Analysis

Lecture 93 Overview of Key Issues and Terminology of Financial Statement Analysis

Lecture 94 Vertical Analysis and Margin Ratios on the Income Statement

Lecture 95 Horizontal Analysis: Trend Over Prior Year

Lecture 96 Asset Management: Accounts Rec., Inventory, Total Asset Productivity

Lecture 97 Liquidity Ratios: Working Capital and Acid Test

Lecture 98 Solvency Ratios - Long-Term Survival - Debt to Assets and Times Int. Earned

Lecture 99 Investor Ratios: EPS, Dividend Payout, ROE, Dividend Yield and PE

Businesses, Financial Accounting students and individuals interested in accounting.