Accounting Cycle 10 Column Worksheet Total Running Time: 28:22 adjusting entries, Balance Sheet (BS), income statement, trial balance Accounting Cycle 10 Column Worksheet
Auditor Reports Current Reporting Issues and FS Analysis Total Running Time: 25:24 causes of fraud, conditions that promote fraud, forecast vs projection, fraudulent reporting, FS analysis limitations, horizontal FS analysis, internal controls, L-T trend FS analysis, major ratio types, Management's Discussion and Analysis, MD&A, ratio analysis limitation, unqualified opinion Auditor Reports Current Reporting Issues and FS Analysis
Basic vs. Diluted Earnings Per Share Total Running Time: 27:36 Basic EPS, contingent shares, convertible bonds, Diluted EPS, Earnings Per Share (EPS), per share effect, stock dividends and splits, stock options Basic vs. Diluted Earnings Per Share
Book-Tax Accounts Formulas and Temporary vs. Permanent Differences Total Running Time: 24:31 income tax accounts, permanent difference, reconciling PFI to TI, tax adjusting entry, Tax AJE Formulas, taxable TD, temporary difference Book-Tax Accounts Formulas and Temporary vs. Permanent Differences
Change in Principle vs Estimate vs Entity and Correction of Error Total Running Time: 26:28 accounting treatment, changes and errors, depreciation change, entity, presentation, principle disclosures, prior period adjustment, prospective treatment, retrospective treatment Change in Principle vs Estimate vs Entity and Correction of Error
Comprehensive SCFs Example – Direct vs. Indirect Operating Section Total Running Time: 29:26 collections from customers, depreciation expense, income tax payments, indirect adjustment, necessary info for SCF, payments to suppliers, Selling and Admin Comprehensive SCFs Example – Direct vs. Indirect Operating Section
Comprehensive SCFs Example – Investing and Financing Sections Total Running Time: 20:17 asset purchase, asset sales, cash from land sale, common stock issuance, equipment purchase payments, equipment sale, L-T, liability principal, shareholder dividends Comprehensive SCFs Example – Investing and Financing Sections
Course Introduction and Stockholders Equity Basics Total Running Time: 17:02 Balance Sheet (BS), chart of accounts, SE accounts Course Introduction and Stockholders Equity Basics
Debt Securities Amortized Cost and Fair Value Methods Total Running Time: 19:50 AFS bond entries, Entire Bond Amortization Schedule, financial statement treatment, five investment categories, FV entry, held to maturity bonds, HTM bond entries, realized gain and loss, trading bond Debt Securities Amortized Cost and Fair Value Methods
Diluted Earnings Per Share – Comprehensive Example Total Running Time: 22:08 Diluted EPS, year end MV Diluted Earnings Per Share – Comprehensive Example
Dilutive Securities and Convertible Bonds and Preferred Stock Entries Total Running Time: 17:33 call bonds entry, convert bonds entry, convert PS entry, entry for bond issue, first effective interest entry, first straight line entry, four types of dilutive securities, methods to convert bonds and PS, PS issue entry, two bond amortization methods Dilutive Securities and Convertible Bonds and Preferred Stock Entries
Dividends – Cash Property Stock and Splits Total Running Time: 15:29 calculating preferred stock dividends, divident payment policies, entries for cash dividends, entries for liquidating dividends, entries for property dividends, entries for small and large stock dividends, four types of dividends, stock split, two types of stock dividends Dividends – Cash Property Stock and Splits
Dollar Value LIFO Method Total Running Time: 47:08 annual cost index, DVL method, inventory increase vs decrease, Liquidation problem, specific goods Dollar Value LIFO Method
Entries for Change in Accounting Principle vs. Estimate Total Running Time: 24:46 completed contract, entry for estimate change, financial statement, First In First Out (FIFO), Generally Accepted Accounting Principles (GAAP), Last In First Out (LIFO), percent completion, principle change Entries for Change in Accounting Principle vs. Estimate
Entries – Stock Issuance and Repurchase Total Running Time: 18:33 noncash exchanges, proportional and incremental method, treasury stock Entries – Stock Issuance and Repurchase
Equity Securities Fair Value vs. Equity Methods Total Running Time: 26:25 AFS adjustment, AFS equity portfolio, AFS stock sold at gain, category transfer, entries for greater than 20 percent AFS equity securities, five investment categories, FV entry, MV adjustment, net loss, NI and Dividends, significant influence, statement of CI, stock purchase, three CS percent presumptions vs evidence, total holding gain, valuation method Equity Securities Fair Value vs. Equity Methods
Features of Corporations and Common vs Preferred Stock Total Running Time: 14:49 corporate advantages and disadvantages, debt financing, equity financing, features of common stock, features of preferred stock, four common stock rights Features of Corporations and Common vs Preferred Stock
Financial Accounting Fundamentals Part 1 Total Running Time: 37:09 adjusting entries, Closing Journal Entry (CJE), debits vs credits, general journal, general ledger, Generally Accepted Accounting Principles (GAAP), GJ and GL, JE and AJE, journal entries, real vs nominal accounts Financial Accounting Fundamentals Part 1
Financial Acct Fundamentals Part2 Total Running Time: 32:05 chart of accounts, FASB conceptual framework, framework assumptions, order of accounting cycle, three maxims Financial Acct Fundamentals Part2
Full Disclosure Principle – Notes to the FS and Disclosure Issues Total Running Time: 14:39 common disclosures, differential disclosure, interim problems, interim reports, Post-BS events, primary purpose of notes, related-parties, segment reporting, segmenting objective Full Disclosure Principle – Notes to the FS and Disclosure Issues
Gross Profit in Installment Sale vs. Cost Recovery Methods Total Running Time: 19:00 completion of production basis, cost recovery, deposit method, installment sales method, order that methods recognize revenue Gross Profit in Installment Sale vs. Cost Recovery Methods
Lease Accounting 10: Lessee Finance Lease – Residual Value IFRS Lessee Leases Total Running Time: 11:10 Lease Accounting 10: Lessee Finance Lease – Residual Value IFRS Lessee Leases
Lease Accounting 11: Lessor Operating Lease Total Running Time: 07:54 Lease Accounting 11: Lessor Operating Lease
Lease Accounting 12: Lessor Sales-Type Lease Total Running Time: 10:11 Lease Accounting 12: Lessor Sales-Type Lease
Lease Accounting 13: Lessor Direct Financing Lease Total Running Time: 12:37 dealer, Direct Financing (DF) Lease (DFL), Guaranteed vs. unguaranteed, manufacturer, Net Investment in Lease (NIL - DF), Residual Value (RV) Lease Accounting 13: Lessor Direct Financing Lease
Lease Accounting 1: Basic Concepts Total Running Time: 15:06 annuity due, Bargain Purchase Option (BPO), Bright Lines, Capitalize, Economic Substance, fair value, lessee, Lessor Lease Accounting 1: Basic Concepts
Lease Accounting 2: Identifying Lease Contract & Separating Components Total Running Time: 05:39 Lease Component, Lease Contract, Multiple Asset Use, Non-lease component, Separate Components, Single Component Lease Accounting 2: Identifying Lease Contract & Separating Components
Lease Accounting 3: Allocating Lease Cost to Components Total Running Time: 06:37 Initial Direct Cost, Lease Component, Non-lease component, Proporational Method, Residual (Incremental) Method, Standalone Price Lease Accounting 3: Allocating Lease Cost to Components
Lease Accounting 4: Lessee Lease Classification Total Running Time: 10:25 Lease Accounting 4: Lessee Lease Classification
Lease Accounting 5: Lessor Lease Classification Total Running Time: 10:23 Bargain Purchase Option (BPO), Direct Financing Lease, Group II Criteria, Implicit Rate, Operating Leases, Present Value (PV), Residual Value Guarantee (RVG), Sale-type Lease Lease Accounting 5: Lessor Lease Classification
Lease Accounting 6: Lessee Operating Lease – Initial Measurement Total Running Time: 10:41 economic life, Implicit Rate, Initial Direct Cost, lcd, lease commencement date, lease incentive, Operating Leases, right-of-use, rou Lease Accounting 6: Lessee Operating Lease – Initial Measurement
Lease Accounting 7: Lessee Operating Lease – Subsequent Measurement Total Running Time: 09:42 asset amortization schedule, Balance Sheet (BS), book value, gl accounts, liability amotization schedule, Operating Leases, subsequent measurement, T-Account Lease Accounting 7: Lessee Operating Lease – Subsequent Measurement
Lease Accounting 8: Lessee Operating Lease – Residual Value Guarantee & Short-Term Election Total Running Time: 10:21 cost benefit analysis, cost constraint, Residual Value Guarantee (RVG), short-term policy election Lease Accounting 8: Lessee Operating Lease – Residual Value Guarantee & Short-Term Election
Lease Accounting 9: Lessee Finance Lease Total Running Time: 08:25 Bargain Purchase Option (BPO), finance lease, Initial Direct Cost, lcd, lease commencement date, lease incentive, right-of-use Lease Accounting 9: Lessee Finance Lease
Lessee’s Lease Amortization Schedule Entries and FS Effects Total Running Time: 21:53 Adjusting and Payment Entries, Bargain Purchase Option (BPO), Capital Leases, financial statements, Initial Entry, Lease Amortization Schedule, Lease Capitalization Amount, Lease end, net income, Operating Leases Lessee’s Lease Amortization Schedule Entries and FS Effects
Lessor Lease Types Entries and Other Lease Issues Total Running Time: 32:27 direct financing, Lessor Operating Entries, Lessor Sale-Type Accounts, Lessor's criteria, Sales Type Lease Lessor Lease Types Entries and Other Lease Issues
Long-Term Methods – Percent of Completion and Completed Contract Total Running Time: 33:52 completed contract method, construction FS note disclosures, daily JE, percent of completion formulas, two methods for LT contracts, two types of percent of completion losses, year end AJE Long-Term Methods – Percent of Completion and Completed Contract
Multi-Step IS Intraperiod Tax Allocation Total Running Time: 36:28 discontinued operations, extraordinary gains or losses, multi step vs single step, noncontrolling interest, unusual vs irregular Multi-Step IS Intraperiod Tax Allocation
Net Operating Loss Rule Election Entries and MACRS Total Running Time: 28:08 asset liability method, deferred tax asset valuation account, Modified Accelerated Cost Recovery System (MACRS), NOL election, refund entry and net loss, total refund Net Operating Loss Rule Election Entries and MACRS
Non-Monetary Asset Exchanges Total Running Time: 35:04 commercial substance, Conservatism, five types of exchange journal entries, non-monetary asset exchanges Non-Monetary Asset Exchanges
Pension Worksheet Preparation Entries and Prior Service Costs Total Running Time: 22:57 first and second year end adjusting entry, plan worksheet, PSC amortization, S L alternative method, smoothing, straight line amortization, years of service method Pension Worksheet Preparation Entries and Prior Service Costs
Purpose and Format of the Statement of Cash Flows – SCFs Total Running Time: 28:42 Balance Sheet (BS), cash activities and equivalents, disclosure of noncash activities, indirect direct method format, indirect method adjustment rules, OIF, operating activity methods, statement of cash flows (SCF), target amount, typical cash life cycle Purpose and Format of the Statement of Cash Flows – SCFs
Revenue Recognition Principle Concepts and Analysis Total Running Time: 22:57 alternatives, bill and hold sale, channel stuffing, consignment, contra sales accounts, MDA evaluation process, multiple deliverable arrangements, principal agent relationship, sale with buyback, separate unit of accounting, three methods of returns, trade loading, two methods for installment sales, two methods for L T contracts, types of revenue transactions Revenue Recognition Principle Concepts and Analysis
Stock Warrants and Executive Stock Options Total Running Time: 19:39 disclosed for compensation plans, employee stock option plans, entry for SO, exercised, expired, forfeited, issuing stock options, purpose of executive SO, recording detachable and non-detachable warrants, restricted stock, SO accounting debate Stock Warrants and Executive Stock Options
Stockholder Equity – Financial Statement Presentation & Ratios Total Running Time: 15:46 book value per share, calculating payout ratio, calculating rate of return on CS equity, FS ratio analysis, SE presentation on balance sheet Stockholder Equity – Financial Statement Presentation & Ratios
Tax Adjusting Entries Tax Rate Schedule Total Running Time: 29:13 deferred tax asset, deferred tax liability, DTA, DTA valuation account, entry with DTL, future tax rates, marginal tax rate, MTR, Tax AJE Formulas, tax rate schedule, TD PD entry, US corporate tax rates Tax Adjusting Entries Tax Rate Schedule
Types of Errors and Entries – Counter vs. Non Counter Balancing Total Running Time: 27:09 change and error reporting, change in accounting principle, correcting entry, correction of error, physical count error, prior period adjustment, retrospective treatment, statement of SE Types of Errors and Entries – Counter vs. Non Counter Balancing
Types of Investments Influence and Methods of Accounting Total Running Time: 23:23 accounting for equity, AFS security, Available-for-sale (AFS), equity method, fair value option, fv method controversy, held to maturity security, HTM, impaired security, investment categories and issues, management intent, methods used for debt securities, three categories of equity securities, trading security Types of Investments Influence and Methods of Accounting
Types of Leases Lease Terms Parties and Concepts Total Running Time: 19:06 Bargain Purchase Option (BPO), Capital Leases, capitalization limitation, economic useful life test, four lessee capitalization criteria, guaranteed residual value, investment recovery test, lessee advantages, Operating Leases, transfer of title Types of Leases Lease Terms Parties and Concepts
Types of Pensions Pension Expense Components Accounts and Entries Total Running Time: 26:08 defined benefit, defined contribution, FASB liability alternatives, gain and loss in pension, interest on PBO, nature of pensions, necessary pension entry info, pension plan terms, pension worksheet, PSC amortization, service cost, two main pension FS issues, two types of pensions Types of Pensions Pension Expense Components Accounts and Entries
Unexpected Return Actuarial and Corridor Changes and Post Retirement Total Running Time: 24:54 expected return adjustment, fourth year worksheet, FS note disclosure, FS notes disclosures, gain loss amortization, PBO assumption change, pension expense smoothing, pension vs healthcare, retirement benefits, third year worksheet, US plan protection laws Unexpected Return Actuarial and Corridor Changes and Post Retirement
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