Fundamentals of Financial Accounting
0% Completed
Syllabus, Recommended Books, Paper Pattern & Past Papers
Introduction to Financial Accounting
Basic Terms of Financial Accounting
Accounting Equation
Rules of Debit & Credit and Analysis of Transaction
Journalizing , Ledger and Trial Balance
Financial Reporting & Adjusting Entries
Financial Reporting and Adjustment for Prepayments(Deferred Expenses)
Video - 00:00 mins
Adjustments for Deferred Expense, Deferred Income and Accrued Expense
Video - 00:00 mins
Kinds of Assets and Adjustment for Depreciation
Video - 00:00 mins
Adjustment for Accrued Income
Video - 00:00 mins
Practice File-Adjusting Entries
Video - 00:00 mins
Accounting Cycle-Servicing Business
Acounting Cycle-Trading Business
Difference between Perpetual & Periodic Inventory Systems and Entries for Perpetual Inventory System
Video - 00:00 mins
Complete Accounting Cycle for Trading Business-Perpetual Inventory System from Journal to Opening Entry
Video - 00:00 mins
Differences between the entries of perpetual and periodic inventory systems and journal , ledger & trial balance of trading business under periodic inventory system
Video - 00:00 mins
Trading Business-Periodic Inventory System-From Adjustments to Opening Entry
Video - 00:00 mins
Practice for Financial Statements(Both Trading and Servicing Businesses)
In this, I have uploaded 2 videos in which I have taught how to prepare income statement, balance sheet and closing entries without making adjusted trial balance.Then I have uploaded some practice for you and I will update this list in the future too BECAUSE THE MOST IMPORTANT SECTION OF FFA IS ACCOUNTING CYCLE.
Inventory Valuation
Perpetual Inventory System-Specific Identification Method & FIFO
Video - 00:00 mins
Perpetual Inventory System-LIFO & Average Method
Video - 00:00 mins
Periodic Inventory System-FIFO, LIFO & Weighted Average Methods and Their Comparison
Video - 00:00 mins
Comparative Income Statement and Effects of Overstatement or Understatement of Ending and Opening Inventories
Video - 00:00 mins
IAS-2(Inventory)-Lower of Cost or NRV
Video - 00:00 mins
IAS-2(Inventory)-Lower of Cost or NRV-Mark-up and Margin
Video - 00:00 mins
Valuation of Accounts Receivable-BAD DEBTS
Valuation of Accounts Receivable-Explained and Balance Sheet Approach
Video - 00:00 mins
Bad Debts-Balance Sheet Approach
Video - 00:00 mins
Bad Debts-Balance Sheet and Income Statement Approaches
Video - 00:00 mins
Does writing off accounts receivable change its realizable value?
Video - 00:00 mins
Aging of Accounts Receivable
Video - 00:00 mins
Accounting for Tangible Non-Current Assets (Depreciation)
Tangible Non-Current Assets & Capital and Revenue Expenditures
Video - 00:00 mins
Methods to Estimate Depreciation-Straight Line Method
Video - 00:00 mins
Methods to Estimated Depreciation-Diminishing Balance Method and Sum of the Years' Digits Method
Video - 00:00 mins
Working Hours Method, Units Production Method & Disposal
Video - 00:00 mins
Disposal of Non-Current Assets & Change in Estimate
Video - 00:00 mins
How to Account for Extraordinary Repairs of Fixed Assets
Video - 00:00 mins
Correction of Errors
Understanding Accounting Errors: One-Sided vs Two-Sided Errors, and Types of Errors
Reading
Two-Sided Accounting Errors: Definitions, Examples, and Rectification Methods
Reading
Mastering Suspense Accounts: Correcting One-Sided Errors with Practical Examples
Reading
Perfecting Error Correction in Accounting:Suspense Account ,Trial Balance Adjustments
Reading
Book of Prime Entry
Bank Reconciliation Statement
Accounting for Incomplete Records/Single Entry
Accounting For Non-Profit Organizations
Company Accounting-Issuance of Shares & Financial Statements
Introduction to Company Accounting: Key Concepts,Types of Company & Shares
Reading
Accounting for Issuance of Shares in Consideration of Cash-Market Value = Par Value
Reading
Accounting for Issuance of Shares: At Premium & Discount Explained
Reading
Balance Sheet Preparation: Share Issuance at Par, Premium & Discount
Reading
How to Record Issuance of Shares for Cash and Non-Current Assets-Part 1
Reading
How to Record Issuance Shares for Cash and Non-Current Assets -Part 2
Reading
Issuance of Shares in Consideration of Running Business & Preliminary Expense
Reading
Disposal of Income of the Company-Appropriations, Cash Dividend, Stock Dividend and Statement of Retained Earnings
Reading
Accounting for Sales Tax
Cash Flow Statement
Introduction and Direct Method Formulas
Reading
Cash Flow Statement Solved: Direct vs. Indirect Method Explained with Examples
Reading
Cash Flow Statement-Practice(Computations, Modern Equipment, Farooqui Ltd & CPA Company
Reading
Cash Flow Statement-Practice(Crescent, Shan, Farooqui & Farhan)
Reading
Video Link: https://youtu.be/vwB5TE4iRcw
In this video, I have explained:
1) Computation for estimated bad debts using balance sheet approach
2) Computation for estimated bad debts using income statement approach
3) Recording of recovery of previously written off accounts receivable
4) The differences between balance sheet and income statement approach to estimate bad debts
Finish Course Early?
You have not completed all required lessons and assessments.
Your Progress
0%