What you'll learn
Getting familiar with accounting
Making Journal entries
Understanding structure of journal entries
Relationship between debit, credit accounts and p/l table
Description
We will simplify how to make journal entry records, debit- credit accounts, which accounts are assets and which are liabilities.
As we move further, we will make more complicated entries, so hurry up :)
Contents: (All with journal entry examples)
1) Cash Sale: Journal Entry for cash sale
2) Inventory Purchase : Journal Entry for Inventory Purchase
3) Fixed Asset Sale: Selling a fixed asset
4) Service Sale: Selling a service
5) Bank Loan Usage: Using a bank loan
6) Sales with Credit: Again we sell, but this time with credit (journal entry)
7) Collection: Collecting the receivable in example 7
8) Bad Debt: What journal entry do we do if we can not collect money?
9) Sales Discount: We make a sale with discount
10) Depreciation (Straight Line Method): Basic application of depreciation
11) Compound Interest: Compound interest over many years
12) Purchasing a fixed asset with interest rate: Paying the interest
13) FIFO method: Most popular cost calculation method
14) Weighted Average method: Important cost calculation method
15) LIFO method: Important cost calculation method
16) Sale with advance: Sale with advanced received previously
17) Bad Debt allowance: Directing bad debt to income statement
18) Calculating Inventory
19) Cost of Goods Sold (Journal Entry)
20) Calculating Inventory Turnover Rate: Ratio for inventories
21) Invesment in available for sale securities: Short term investment
22) Investment in another company (%20- %50): Investment that does not give you majority
23) Investment in another company (above %50): Investment giving you majority
24) General Ledger: A general look
25) Depriciation (Declining balances): Second alternative depreciation method
26) Distribution of cash dividends: Distributing the profit to investors
27) Current Ratio
28) Leverage
29) Receivable Turnover Rate
30) Payable Turnover Rate.
Who this course is for
Accountants, owners who want to get familiar with accounting, anyone interested in accounting
Screenshots

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