What is this course?
This course is quick course to make accounting easy and aims to make learning accounting a quick and fun process!
This course is at a intermediate level and aims to teach you how to master posting any accounting transaction.
The lectures are presented in a fun, easy to understand format with quizzes to test your knowledge. You also receive a free downloadable e-book that you can use to refer to as you go through this course.
What do I get from this course?
What is this course about? In the introduction you will find out about all the interesting accounting knowledge you will gain and if this course is right for you!
An introduction to the meaning of revenue recognition and how this fits in the the key accounting principle, the accruals concept.
This lecture covers basic revenue recognition examples including cash sales and payment in the future. You will understand when these transactions can be recognised as revenue in the profit and loss account.
Income in advance is where you receive payment now for a service or good you will deliver in the future. Take this lecture to understand when you can record the transaction as a sale.
Income incurred is where you have completed the sale but have not raised an invoice. Learn the double entry of this posting and also when you can recognise the sale.
These questions will test your knowledge of revenue recognition.
An introduction to stock. How do you value stock and what is the double entry posting to the accounting system?
LIFO - "last in, first out". This is a common method of stock valuation. Understand how to calculate the stock value using LIFO and the advantages and disadvantages of using it.
FIFO - "first in, first out". This is a common method of stock valuation. Understand how to calculate the stock value using FIFO and the advantages and disadvantages of using it.
Weighted average or "AVCO" is a popular and common method of stock valuation. This lecture will explain how it is calculated and the advantages and disadvantages of using it.
Practice questions to test your knowledge of stock valuation methods.
An introduction to fixed assets. This lecture includes an explanation of what a fixed asset it and what we will cover in this section of the course.
A reminder on straight line depreciation, how to calculate it and how to post it to the accounting system.
A reminder on the reducing balance method of depreciation including how to calculate it and post it to the accounting system.
Understand how to identify an asset addition and learn about the types of costs you are permitted to capitalise.
Understand the accounting treatment for disposing of an asset where you receive no proveeds.
This lecture shows you how to post the double entry when you sell an asset for cash proceeds.
Some practice questions to test your knowledge on fixed assets.
An introduction to the bank and why it is important to complete bank reconciliations.
A walk-through example of how to complete a bank reconciliation including common errors and how to spot them.
An introduction to debtors including learning what the definition of a debtor is and where they appear in the accounting system.
Learn about the concept of bad debts and how they should be treated in the accounts.
An introduction to the bad debts provision. Learn how to post this journal and also the difference between a bad debt provision and writing off a bad debt.
Practice questions to test your knowledge of debtors.
A brief reminder on the definition of a trade creditor.
Understand what a hire purchase agreement is and learn via a walk through example how this is posted in the accounts.
Learn about the different types of loans, including calculating the interest and capital elements of repayments. Understand how they should be posted in the accounting system.
Practice questions testing your knowledge on how to post loans and calculate interest.
An introduction to payroll and all of the elements you need to consider when taking on employees.
Understand the current taxes applicable when operating a payroll system and learn the current rates and thresholds.
Payroll if commonly posted wrongly in the accounting records. Learn how to post this journal correctly with this walk through example.
This lecture explains how to propose and pay dividends and also includes a downloadable template.
Test your knowledge on payroll.
As a business there are a few taxes that will have to be paid, this is an introduction to what you will be learning in this section.
An introduction to corporation tax. Learn how to calculate corporation tax based on your profit figure and post the journal to the accounting system.
A brief introduction to the concept of deferred tax. Learn what this tax is and how it is calculated and posted to the accounts.
Gain an understanding of what VAT rates are applied to different purchases and also the various VAT schemes your business can join.
Tax questions to help test your knowledge of VAT, corporation tax and deferred tax.
The course e-book to complement this course!
Emily is a chartered accountant who has ran successful accountancy practices. She is a cloud accounting expert.
Emily is currently a self-employed financial consultant and management accountant.
She has a vast breadth of experience working in a variety of industries but specialises in digital creatives and start-up companies.