Accounting 101 with Jimmy Stewart

By James Stewart

Education

What's Accounting 101 with Jimmy Stewart about?

Accounting 101 Podcast by James Edward Stewart, CPA/ABV, CFE

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LAST EPISODE

Update May 2020

05.10.2020

I have started a blog regarding current events, history, science, the future, and other random topics. Follow my blog at jimmystewart.blog. Follow me on Twitter: @_JimmyStewart_

Accounting 101 with Jimmy Stewart episodes:

05.10.2020 Update May 2020 I have started a blog regarding current events, history, science, the future, and other random topics. Follow my blog at jimmystewart.blog. Follow me on Twitter: @_JimmyStewart_
12.23.2019 17 - The Objectives of Financial Reporting & Concepts of Accrual Accounting I've read a lot of boring stuff so that you don't have to! Today we will summarize some of the useful information in the FASB Concepts Statements and other literature. This information will be useful as you move along to ...
02.02.2019 16 - Closing the Books at the End of the Period (The Closing Process) Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and computer expense of $30,000 (net income of $30,000). You also contributed $10,000 to the business this period. Step 1 – Transfer ...
01.26.2019 15 - Adjusting Journal Entries (The Adjusting Process) Today we will go over the adjusting process. This is where we make our adjusting journal entries to get from our unadjusted trial balance to our adjusted trial balance, which contains the figures we use on the financial statements and ...
01.19.2019 14 - An Overview of the Accounting Cycle Today we will discuss the accounting cycle. This is the process taken each period to record transactions, prepare the financial statements, and to reset the temporary accounts to zero for the next period. Keep in mind that the steps you ...
01.12.2019 13 - How to Dominate Indirect Cash Flow Statements (Fake Cash Method) Example # 1 Our Accounts Receivable balance increased by $20,000 from the end of last period to the end of this period. 1. Accounts Receivable is an asset, so it must be debited to increase its balance. 2. Create journal ...
12.07.2018 12 - FIFO & LIFO (Cost Layering Methods) Today we will discuss the cost layering methods that are used within the periodic and perpetual inventory systems. Assumptions for purchases: 50 units purchased on January 1 at $10 each (50 x $10 = $500) 100 units purchased on February ...
11.25.2018 11 - Perpetual & Periodic Inventory Methods & Cost of Goods Sold In this episode, we will cover the journal entries made when using the perpetual and periodic inventory methods, and we will also go over the formula and journal entry to record cost of goods sold under the periodic inventory method.
11.10.2018 10 - Depreciation, Amortization, & Fixed Assets Today we tackle depreciation and amortization, and we discuss fixed assets. Facts for following examples: Asset cost of $85,000, salvage value of $10,000, and a useful life of 5 years. Note: "Depr" represents depreciation expense, "A/D" represents accumulated depreciation, and ...
11.04.2018 9 - Unearned Revenue (Deferred Revenue) In this episode, we discuss unearned revenue.
10.28.2018 8 - Prepaid Expenses (Prepaid Assets) Today we will discuss prepaid assets, and do some examples with journal entries.
10.22.2018 7 - Accounts Payable - Purchases, Payments, Discounts, & Agings In this episode, we will discuss accounts payable and journal entries related to accounts payable.
10.21.2018 6 - Accounts Receivable - Sales, Collections, Discounts, Agings, & Write-Offs In this episode, we will describe accounts receivable, and we will go over journal entries related to accounts receivable.
10.13.2018 5 - Contra Accounts - Understanding Them & Examples Today we will explain contra accounts, and we will also do some examples to demonstrate how the debits and credits work.
10.13.2018 Contra Accounts - Understanding Them & Examples Today we will explain contra accounts, and we will also do some examples to demonstrate how the debits and credits work.
10.06.2018 4 - An Introduction to Financial Statements In this episode, we will briefly discuss the four main financial statements in accounting: the balance sheet, income statement, statement of owner's equity, and statement of cash flows.
09.29.2018 3 - General Ledgers & Trial Balances In this episode, we discuss the flow of accounting from how our journal entries are recorded in the general ledger, summarized in the trial balance, and then presented on the financial statements and tax returns.
09.10.2018 2 - A\|LE-R\|E & Journal Entries In this episode, we discuss how each type of account in ALE-RE is affected by journal entries, and we learn the debit/credit language of accounting using A\|LE-R\|E. The lines separate the types of accounts with normal debit balances from those ...
09.10.2018 1 - Assets, Liabilities, Equity, Revenue, & Expenses (ALE-RE) In this episode, we briefly discuss each type of account in accounting: Assets, Liabilities, Equity, Revenue, and Expenses.
09.10.2018 0 - Introduction Hi Everyone, Welcome to Accounting 101 with Jimmy Stewart. I hope to explain accounting to you the way I wish someone had explained it to me when I first started out. This isn't meant to be your only source of ...

Accounting 101 with Jimmy Stewart

What's Accounting 101 with Jimmy Stewart about?

Download our free app to listen on your phone

Accounting 101 with Jimmy Stewart episodes:

Update May 2020

17 - The Objectives of Financial Reporting & Concepts of Accrual Accounting

16 - Closing the Books at the End of the Period (The Closing Process)

15 - Adjusting Journal Entries (The Adjusting Process)

14 - An Overview of the Accounting Cycle

13 - How to Dominate Indirect Cash Flow Statements (Fake Cash Method)

12 - FIFO & LIFO (Cost Layering Methods)

11 - Perpetual & Periodic Inventory Methods & Cost of Goods Sold

10 - Depreciation, Amortization, & Fixed Assets

9 - Unearned Revenue (Deferred Revenue)

8 - Prepaid Expenses (Prepaid Assets)

7 - Accounts Payable - Purchases, Payments, Discounts, & Agings

6 - Accounts Receivable - Sales, Collections, Discounts, Agings, & Write-Offs

5 - Contra Accounts - Understanding Them & Examples

Contra Accounts - Understanding Them & Examples

4 - An Introduction to Financial Statements

3 - General Ledgers & Trial Balances

2 - A|LE-R|E & Journal Entries

1 - Assets, Liabilities, Equity, Revenue, & Expenses (ALE-RE)

0 - Introduction