Introduction to Accounting
  • What is Accounting? Where it is used?
  • What are Accounting rules and why Accounting has to follow rules?
  • Introduction to recording in accounting
  • Elements/classes in Accounting
  • The Accounting Equation
  • The Accounting Equation - Income and Expenses
  • The Most Important Reports in Accounting
  • Balance Sheet
  • Profit and Loss Account
  • Debit and Credit Rules
  • Three Basic Concepts of Accounting
  • Key Terms/classes in Accounting
Practice: Recording of Transactions and Preperation of Reports
  • Introduction to Ledger and General Ledger
  • Scanerio
  • Recording Transactions in General Ledger
  • Preperation of Trial Balance
  • Preperation of Profit & Loss Account and Balance Sheet
  • Welcome to the 2nd month of business!
  • Closing entries
  • Recording February Transactions and Preperation of Reports
Accounting for Purchases and Payables
  • Introduction and key terms
  • Recording Cash Purchase and Purchase Return
  • Credit Purchase, payments, early payment discount, interest for late payment
  • Example
  • Ledger posting and preperation of reports
  • Purchases and Payables Accounting, May 2020
Accounting for Sales and Receivables
  • Introduction and key terms
  • Cash Sales and Sales Return
  • Credit Sales and related transactions
  • Example
  • Example: Preparing Reports
  • Important: Adjusting and Closing Entries
  • Recording transactions - July
  • July Adjusting and Closing Entries, Adjusted Trial Balance, P&L, and B/S
  • Allowance for Doubtful Debts
  • Allowance for Doubtful Debts - Accounting entires
Accounting for Inventory/Goods:
  • Understanding terms: Goods, Purchases, Inventory/Stock, Cost of Sales
  • Inventory Valuation Methods
  • Inventory Valuation - Practice
  • Inventory Valuation - Additonal Practice
  • Inventory Valuation Quiz
  • Accounting for Inventory - Introduction
  • Perodic System of Inventory Accounting
  • Periodic System of Inventory Accounting: Example
  • Example 2: Periodic System of Inventory Accounting
  • Perpetual System of Inventory Accounting
  • Lower of Cost or NRV
Goods and Services Tax: Brief Introduction and Bookkeeping/Accounting
  • Introduction to Goods and Services Tax
  • Understanding Net and Gross Price
  • Practice: Gross to Net Conversion
  • Sales Tax Collection - Introduction
  • Accounting for Sales Tax on Sales
  • Accounting for Sales Tax on Purchases
Accounting for Non-Current Assets
  • Introduction to Fixed Asset and Fixed Asset Accounting
  • Methods of Depreciation, Straight Line Method
  • Example: Straight Line Depreciation
  • Units of Production Method of Depreciation
  • Reducing Balance Method (Declining Balance Method)
  • Practice: Reducing Balance Method
  • Sum of Years' Digits Method
  • Choosing Method of Depreciation
  • Calculating Gain/Loss on Disposal
  • Accounting for purchase, depreciation and disposal of fixed assets
  • Accounting entries - example
  • Methods of Accounting for Fixed Assets
  • Accounting entries - Asset account maintained at Cost
  • Depreciation and accounting entries - Practice
Accruals and Prepayments
  • Introduction to Accruals and Prepayments
  • Accounting for Prepayments - Example
  • Accounting for Prepayments - 2021
  • Monthly/Quarterly reporting
  • Accounting for Accruals
  • Accounting for Accruals - Example
Company Accounting
  • Understanding a Business's Legal Status and Company
  • Introduction to Shares
  • Accounting for Share Issue
  • Right Issue of Shares
  • Bonus Issue of Shares
  • Profit percentage
  • Markup and Margin Example
  • Converting Markup to Margin and vice versa
  • Markup and Margin practice