17 - The Objectives of Financial Reporting & Concepts of Accrual Accounting
17 - The Objectives of Financial Reporting & Concepts of Accrual Accounting
I've read a lot of boring stuff so that you don't have to! Today we will summarize some of the useful information in the... Read more
23 Dec 2019
•
14mins
16 - Closing the Books at the End of the Period (The Closing Process)
16 - Closing the Books at the End of the Period (The Closing Process)
Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and compu... Read more
2 Feb 2019
•
11mins
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15 - Adjusting Journal Entries (The Adjusting Process)
15 - Adjusting Journal Entries (The Adjusting Process)
Today we will go over the adjusting process. This is where we make our adjusting journal entries to get from our unadju... Read more
26 Jan 2019
•
9mins
14 - An Overview of the Accounting Cycle
14 - An Overview of the Accounting Cycle
Today we will discuss the accounting cycle. This is the process taken each period to record transactions, prepare the fi... Read more
19 Jan 2019
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6mins
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13 - How to Dominate Indirect Cash Flow Statements (Fake Cash Method)
13 - How to Dominate Indirect Cash Flow Statements (Fake Cash Method)
Example # 1 Our Accounts Receivable balance increased by $20,000 from the end of last period to the end of this period. ... Read more
12 Jan 2019
•
11mins
12 - FIFO & LIFO (Cost Layering Methods)
12 - FIFO & LIFO (Cost Layering Methods)
Today we will discuss the cost layering methods that are used within the periodic and perpetual inventory systems.Assump... Read more
7 Dec 2018
•
26mins
11 - Perpetual & Periodic Inventory Methods & Cost of Goods Sold
11 - Perpetual & Periodic Inventory Methods & Cost of Goods Sold
In this episode, we will cover the journal entries made when using the perpetual and periodic inventory methods, and we ... Read more
25 Nov 2018
•
17mins
10 - Depreciation, Amortization, & Fixed Assets
10 - Depreciation, Amortization, & Fixed Assets
Today we tackle depreciation and amortization, and we discuss fixed assets.Facts for following examples: Asset cost of $... Read more
10 Nov 2018
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28mins
9 - Unearned Revenue (Deferred Revenue)
9 - Unearned Revenue (Deferred Revenue)
In this episode, we discuss unearned revenue.
4 Nov 2018
•
7mins
8 - Prepaid Expenses (Prepaid Assets)
8 - Prepaid Expenses (Prepaid Assets)
Today we will discuss prepaid assets, and do some examples with journal entries.
28 Oct 2018
•
7mins
