Accounting Instruction, Help, & How To - Bob Steele

MA1200 Banks, Money And The Financial Sector

The banking system, definition of money,, and how money is created in the banking system.

EA1300.10 Monetary Policy

Monetary policy used by the federal reserve to influence the economy in times of a recessionary or inflationary gap.

EA10,000.10 Classical Model – Long Run, Growth, Supply – Side

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.

EA700.10 Gross Domestic Product GDP

Gross domestic product GDP, basic macro economic accounting term measuring performance, including C Consumption + I Income + G Government Spending + Net exports (exports – imports).

Economic terms of demand and utility allowing us to graph diminishing marginal utility.

EA300.10 Supply, Demand, & Equilibrium

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.

2000.20 Equivalent Units – Process Cost System

Equivalent units calculation in process cost system to allocate direct material and conversion costs, direct labor & overhead, to proper process in process costs system.

1900.20 Job Cost System

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

1600.20 Statement of Cash Flows

Statement of cash flow, a financial statement showing the inflow and outflow of cash using 3 categories, operating, investing, and financing.

1300.20 Treasury Stock

Treasury stock issuance and sale, defining treasuring stock & recording related journal entries to trail balance accounts

1200.30 Partnership – Sale of Partnership Interest

Partners leaving a partnership selling interest to new partner or to partnership, related journal entries, and effect on partner capital accounts.

1000.10-Depreciation-Straight Line, Double Declining Balance, Units of Production

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.

800.10 Bank Reconciliation

Bank reconciliation, using bank statement to generate bank reconciliation and journal entry adjustments needed in the process.

600.30 Inventory Methods – First In First Out (FIFO), Last In First Out (LIFO), Average

Inventory methods, Fist in first out (FIFO), Last in last out, (LIFO), and average calculation and comparison.v

500.20 Merchandising Transaction

Merchandising transactions adding transactions related to inventory and accounts related to inventory, cost of good sold (COGS), sales discount, purchase discount. . .

300.30 Financial Statement Creation From Adjusted Trial Balance

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.

200.10 Transactions Debits & Credits Cash, Accounts Receivable, Accounts Payable

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

56605-Audit- Cash & Financial Investments

Audit of cash and financial investments including cash equivalents, stocks, and bonds

56405 – Audit – Property Plant & Equipment, Prepaid Assets, Intangible Assets

Audit of property plant & equipment, prepaid assets, and intangible assets including internal controls and substantive tests

56205 – Audit – Payroll Process

Audit of the payroll process including internal controls and duties to be segregated.

56005 – Auditing – Revenue Process

Audit testing of revenue process.

55605 – Audit – Internal Controls

Internals are a critical part of the audit process and a critical part of the running of an organization.

55405 Audit Risk Assessment

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.

55205 – Audit Environment

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.

2500.4 – Managerial Decisions, Relevant Cost, Sunk Cost, Opportunity Cost

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 ...