Introduction to Accounting
  • Understanding Accounting
  • Key classes and terms in Accounting
  • Understanding Profit & Profit & Loss Statement
  • Understanding Owner's Capital & Balance Sheet
  • Seperate Entity Concept
  • Liabilities and Owner's Capital
  • Understanding Dual Impact of a Transaction
  • The Accounting Equation
  • Key Terms/classes in Accounting
Recording Income, Expenses, Assets, Liabilites, & Owner's Capital
  • Recording in Accounting
  • Recording Debit and Credit for Assets - Practice
  • Debit and Credit rules for Liabilities, Owner's Capital, Income, & Expenses
  • Alternative way to understand and remember debit/credit rules
  • Double Entry Accounting/Bookkeeping with Debit & Credits
  • Debit & Credit Practice
  • Journal Entry
  • Practice - debits and credits
Practice: Bookkeeping, Accounting, & Financial Statements Preparation
  • Introduction
  • Recording Journal Entries
  • Posting Entries to the Ledgers
  • From ledgers to the Trial Balance
  • Preparing Profit and Loss Statement
  • Preparing Balance Sheet
Further classification in Assets, liabilities, Income and Expenses
  • Understanding and classifing Assets
  • Classifing Assets based on their physical substance
  • Understanding and classifing Liabilities
  • The Formal Balance Sheet Format
  • Understanding and classifing Income
  • Understanding and classifing Expenses
  • The Formal Profit & Loss Statement Format
Back to Practice Session
  • Financial Statements
  • Closing ledgers for the month
  • Transferring balances to the next month ledgers
  • Homework: End to End Accounting & Bookkeeping- November
  • Homework Answers
Bank Reconciliation
  • Understanding Reconciliation
  • Impact of Bank Reconciliation
  • Understanding Bank Statement
  • Bank Reconciliation Case 1 and Case 2
  • Bank Reconciliation Case 2 Part 2
  • Bank Reconciliation Part 3
  • Practice - Bank Reconciliation
  • Understanding Positive and Negative Balance terms
  • Complete Bank Reconciliation Assignment
Credit Transactions | Receivables | Payables
  • Understanding Cash and Credit Transaction
  • Cash and Accrual Accounting
  • Cash and Accrual Accounting - Examples
  • Understanding Receivables and Payables
  • Understanding Trade and Other Receivables/Payables
Accounting for Expenses and Payables
  • Introduction and recording Cash Expenses
  • Recording Credit Expenses
  • Recording Cancellation/Reversal of Credit Expenses
  • Recording Payment to Payables
  • Recording Interest charged for late payment
  • Accounting for Trade Discount
  • Accounting for Cash Discount
  • Practice - End to end Bookkeeping, Accounting & FS for Expenses
  • Closing entries for April
  • May 2021 - Bookkeeping, Accounting, & Financial Statements
  • Key documents related to Expenses and Payables
Accounting for Income and Receivables
  • Introduction
  • Recording Cash Income and its Reversal
  • Recording Credit Income and reversal
  • Recording Cash Received from Receivables
  • Interest charged to Receivables for late payment
  • Accounting for Trade Discount
  • Accounting for Cash Discount
  • Accounting for Bad Debts
  • End of Beginners Level
  • Understanding Doubtful Debts and Allowance for Doubtful Debts
  • Other terms for Allowance for Receivables
  • Accounting for the Allowance for Doubtful Debts
  • Understanding Gross and Net Receivables
  • Recording the Allowance - Detailed Example
  • Increasing the Allowance
  • Practice - Allowance for Doubtful Debts - Year 3
  • Recording Allowance for Doubtful Debts
  • Journal Entry and Period End Adjustments
  • Introduction to Adjusting Entries | Understanding Accounting & Bookkeeping Cycle
Sales tax - Brief Intro and Accounting
  • What is Sales tax?
  • Who can collect Sales tax?
  • What to do with the collected Sales tax?
  • Accounting for Sales tax on Income
  • Accounting for Sales tax on Expenses
  • Practice - Sales tax Bookkeeping and Accounting
  • Sales tax Bookkeeping and Accounting - month 3
  • Understanding VAT as a system
  • Basic maths to convert Gross Amount to Net Amount
  • Sales Tax
Accruals and Prepayments