Accounting Instruction, Help, & How To - Bob Steele: Recent Episodes
Bob Steele CPA: Accounting Instruction, Help, & How To
Accounting for governmental and not for profit entities including an introduction of what government and not for profit entities are and starting off with a comparison with for-profit industries. Both in this discussion and within the development of accounting regulations we start with accounting designed around for-profit organizations and then look for those areas that […]
The post GA100 – Introduction To Accounting For Governmental & Not-For-Profit Entities appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
The banking system, definition of money,, and how money is created in the banking system.
The post MA1200 Banks, Money And The Financial Sector appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Inflation, – How to calculate using index, relationship between inflation and unemployment using the Phillips Curve, and discussion of what drives inflation.
The post MI1800 Inflation – Calculation & Policy appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Fiscal policy including tax and government spending. Discussion of the history and debate over fiscal policy
The post EA1600 Fiscal Policy appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Monetary policy used by the federal reserve to influence the economy in times of a recessionary or inflationary gap.
The post EA1300.10 Monetary Policy appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Keynesian short run or demand model includes business cycles aggregate demand, short term aggregate supply, and long term aggregate supply. The basis for monetary and fiscal policy recommendations.
The post EA900.10 – Keynesian Model – Short Run or Demand Side appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Classical model, long run, growth or supply-side, discussing the model most economists held before the 1930 and that has had some concepts come back since the 1970s.
The post EA10,000.10 Classical Model – Long Run, Growth, Supply – Side appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Economic history of macro economics introducing classical economics, Keynesian economics and the business cycle.
The post EA600.10 Economic History Classical And Keynesian, Short Term, Long Term appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Gross domestic product GDP, basic macro economic accounting term measuring performance, including C Consumption + I Income + G Government Spending + Net exports (exports – imports).
The post EA700.10 Gross Domestic Product GDP appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Market problems including externalities, public goods, and uneven information including pros and cons of government intervention for these market problems.
The post EA800.10 Market Problems – Government Problems appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Economic terms of demand and utility allowing us to graph diminishing marginal utility.
The post appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Economic concept of elasticity crucial economic concept in many economic models, applied to elastic of demand and elasticity of supply.
The post EA400.10 Elasticity appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Economic core concepts of supply, demand & equilibrium including movement along supply and demand curve, shit in supply and demand curve, and discussion of market based economy & centrally planned economy.
The post EA300.10 Supply, Demand, & Equilibrium appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Economic topic of production possibility frontier & comparative advantage are core principles in economics, demonstrating the use of models and concepts of scarcity, opportunity cost, and trade-offs in decision making.
The post EA200.10 Production Possibility Frontier & Comparative Advantage appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Equivalent units calculation in process cost system to allocate direct material and conversion costs, direct labor & overhead, to proper process in process costs system.
The post 2000.20 Equivalent Units – Process Cost System appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Process cost system defined for manufacturing company including calculation of cost of goods manufactured and cost of goods sold, journal entries related to the process cost system, recording of journal entries to general ledger, and effect on trial balance accounts
The post 2000.10 Process Cost System appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Job cost system defined for manufacturing company including calculation of job cost report, journal entries related to the job cost system, recording of journal entries to general ledger, and effect on trial balance accounts
The post 1900.20 Job Cost System appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Economics introduction of what economics is and why learn economics, defining economics, exploring economic terms including micro economics and macroeconomics
The post EA100.10 Economics It What Is It & Why Learn appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Statement of cash flow, a financial statement showing the inflow and outflow of cash using 3 categories, operating, investing, and financing.
The post 1600.20 Statement of Cash Flows appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Issue of bonds at a discount, interest payment calculation, discount amortization on a straight line method, and related journal entries.
The post 1400.20 Bond Issued at Discount & Interest Payments appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Treasury stock issuance and sale, defining treasuring stock & recording related journal entries to trail balance accounts
The post 1300.20 Treasury Stock appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Partnership, new partner added – related journal entries an impact on existing partner capital accounts.
The post 1200.40 Partnership-New Partner Added appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Partners leaving a partnership selling interest to new partner or to partnership, related journal entries, and effect on partner capital accounts.
The post 1200.30 Partnership – Sale of Partnership Interest appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Partnership net income allocation to partners & closing process for a a partnership, closing net income to partner capital accounts and draws to partner capital accounts.
The post 1200.20 Partnership Acclamation Net Income To Capital Accounts appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Depreciation calculation-straight line method, double declining balance method, units of production method-journal entries to trial balance & comparison of net income, depreciation expense, and accumulated depreciation.
The post 1000.10-Depreciation-Straight Line, Double Declining Balance, Units of Production appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Allowance Method used to estimate account receivable balance not collectible, journalize bad debt expense and record allowance for doubtful accounts.
The post 900.10 Allowance Method Accounts Receivable appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Bank reconciliation, using bank statement to generate bank reconciliation and journal entry adjustments needed in the process.
The post 800.10 Bank Reconciliation appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Subsidiary ledgers for accounts receivable and accounts payable recording activity by costumer and vendor rather then date done on the general ledger.
The post 700.20 Subsidiary Ledgers – Accounts Receivable, Accounts Payable appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Inventory methods, Fist in first out (FIFO), Last in last out, (LIFO), and average calculation and comparison.v
The post 600.30 Inventory Methods – First In First Out (FIFO), Last In First Out (LIFO), Average appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Merchandising financial statements including multiple step income statement and accounts related to inventory.
The post 500.30 Merchandising Financial Statement Creation from Adjusted Trial Balance appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Merchandising transactions adding transactions related to inventory and accounts related to inventory, cost of good sold (COGS), sales discount, purchase discount. . .
The post 500.20 Merchandising Transaction appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Closing entries journal entries to close out temporary accounts, including all income statement account, to equity accounts.
The post 400.10 Closing Entries 2 Step And 4 Step Process appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Adjusting entry transaction, journal entries at the end of the accounting period to adjust account to accrual basis as of the date of financial statements.
The post 300.30 Financial Statement Creation From Adjusted Trial Balance appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Adjusting entries as of the end of a period, needed to put trail balance on accrual bases as of the date financial statement well be prepared.
The post 300.10 Adjusting Entry Transactions appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Recording normal business transactions related to cash, accounts receivable, and accounts payable, using debits and credit, discussing the effect on the accounting equation of assets liabilities and equity
The post 200.10 Transactions Debits & Credits Cash, Accounts Receivable, Accounts Payable appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit reports including standard unqualified report and variations including qualified report
The post 56805 – Audit Reports, Audit Completion appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit of cash and financial investments including cash equivalents, stocks, and bonds
The post 56605-Audit- Cash & Financial Investments appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit of long term liabilities, Stockholder’s Equity, and the income statement including internal controls and substantive tests
The post 56505-Audit-Long Term Liabilities, Stockholders’ Equity, Income Statement appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit of property plant & equipment, prepaid assets, and intangible assets including internal controls and substantive tests
The post 56405 – Audit – Property Plant & Equipment, Prepaid Assets, Intangible Assets appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit of inventory including controls and substantive testing
The post 56305 – Auditing The Inventory Process appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit of the payroll process including internal controls and duties to be segregated.
The post 56205 – Audit – Payroll Process appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Auditing the purchasing process including accounts payable and expenses, assets, and inventory related to the purchasing process.
The post 56105 – Audit – Purchasing Process appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit testing of revenue process.
The post 56005 – Auditing – Revenue Process appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit sampling is necessary because we cannot test all transaction in the audit process and must use sampling in order to make a determination about many audit assertions
The post 55805 – Audit Sampling appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Internals are a critical part of the audit process and a critical part of the running of an organization.
The post 55605 – Audit – Internal Controls appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Explain the function of audit evidence, describe management assertions about transactions, account balances and disclosures, list procedures to obtain audit evidence and describe reliability of audit procedures.
The post 55505 – Audit Evidence And Documentation appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit risk assessment includes, analyzing what audit risk is, audit risk assessment process, analysis of how to act on audit risk results, & documentation of audit risk assessment.
The post 55405 Audit Risk Assessment appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit planning stage – list steps involved int the preliminary engagement, explain information included in and engagement letter, explain the steps in planning an audit, describe immateriality & it’s importance.
The post 55305-Audit Planning Stage appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Audit environment – Types of auditory, list attest and assurance services, describe the organizational structure of an accounting firm, and explain the need for audit standards.
The post 55205 – Audit Environment appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Auditing 101 introduction; audit defined, attestation defined, assurance services defined. Explanation on why audits are important, outline of the audit process.
The post 55005-Auditing, Attest, & Assurance appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Managerial accounting situation designed to highlight common problems in managerial decisions and formal process to make decisions. Included discussion of relevant costs and benefits. Scenarios include accepting additional business or a special offer, decision to make or buy, decision to scrap or rework, decision to sell or process further, decision about sales mix, and decision […]
The post 2500.4 – Managerial Decisions, Relevant Cost, Sunk Cost, Opportunity Cost appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Capital investments in long term assets like fixed assets, equipment, and building need to be analyzed on more detail using tools like the payback period, accounting rate of return, net present value, and internal rate of return.
The post 2500.1 Payback Period, Accounting Rate Of Return, Net Present Value, Internal Rate Of Return appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Recording transaction by cycle using the accounting equation for accounts receivable and accounts payable. These are common transactions that will be the same for most any company, large, small, service, merchandiser, sole proprietor, partnership, or corporation.
The post 100.15 Account Receivable (AR) & Accounts Payable (AP) Transactions – Accounting Equation appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
We record transactions involving cash using the double entry accounting system and the accounting equation. These transactions are the same for all types of organizations from sole proprietors, to partnerships, to corporations, to service companies, and to merchandising companies.
The post 100.12 Cash Transactions – Accounting Equation appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Accounting objectives, assumption, and principles are the rules that govern the accounting process. Discussion will include the measurement principle, revenue recognition principle, matching principle, full disclosure principle, going concern assumption, monetary unit assumption, business entity assumption
The post 100.10 – Accounting Objectives, Assumptions, And Principles appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Ethics, profession, Fraud, and internal controls are related topics that we will touch on here and are also very large topic in themselves. We will talk about ethics as it relates to the profession of accounting, both financial accounting and managerial accounting. Ethics is a subject that has been student as far back as we […]
The post 100.8 – Ethics, Profession, & Fraud appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Flexible Budgets help to measure performance in an accounting and business system, comparing actual results to budgeted or standard amounts to increase accountability using variable costs and fixed costs.
The post 2300 – Cost Variance Analysis, Flexible Budgets, & Standard Costs appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Budgets and the budgeting process is part of planning and has impact on planning and performance of all areas of an organization
The post 2200-Master Budget appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Cost volume profit analysis is a form of cost accounting or managerial accounting, the idea being to break costs down by their behavior of variable costs and fixed costs, using this to create a contribution margin income statement, a much more flexible tool for projections
The post 2100-Cost Accounting Cost Volume Profit Analysis appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Financial accounting includes fundamental building blocks. These accounting building blocks include the concepts of double entry accounting and debits and credits. This lecture will cover these fundamental financial accounting building blocks of debits and credits and follow the process to the creation of the financial statements. This is an accounting lecture that can be revisited […]
The post 100.6 Accounting Building Blocks (Debit, Credits, Financial Statements) appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).
Financial accounting, like any topic often starts off with question like, why learn financial accounting. Accounting has many benefits both in the accounting department and outside the accounting department. This lecture will touch on what accounting is, why accounting is useful, how financial accounting may be useful to you.
The post 100.2 Why Learn Accounting appeared first on Accounting Instruction, Help, & How To (Financial & Managerial).