Junior Accountant Course

Lesson 1 • Source Documents and Transaction Evidence

Identifies the documents that authorise and support every accounting entry. Students trace source documents to journal entries to build audit-ready habits.

Lesson 2 • Generally Accepted Accounting Principles

Covers the core principles guiding financial reporting consistency and reliability. Students apply these principles to evaluate whether entries are correctly recorded.

Lesson 3 • The Accounting Equation and Its Components

Introduces assets, liabilities, and equity as the pillars of financial recording. Establishes the conceptual base for all subsequent bookkeeping tasks.

Lesson 4 • Double-Entry Bookkeeping System

Explains how every transaction affects two accounts through debits and credits. Students practise recording entries that keep the ledger in balance.

Lesson 1 • Journalising Business Transactions

Covers recording transactions in the general journal using proper format and account titles. Connects source documents from Chapter 1 to formal journal entries.

Lesson 2 • Posting to the General Ledger

Demonstrates transferring journal entries to individual ledger accounts accurately. Students maintain running balances and verify posting completeness.

Lesson 3 • Preparing the Trial Balance

Teaches extraction of account balances to verify ledger equality before adjustments. Students identify and correct common trial balance errors.

Lesson 4 • Adjusting Entries and Their Purpose

Explains accruals, deferrals, and depreciation adjustments needed at period end. Students prepare adjusting entries that align revenues and expenses to the correct period.

Lesson 1 • Statement of Retained Earnings

Explains how net income and dividends flow into the equity section across periods. Students link the income statement output to this statement accurately.

Lesson 2 • Notes and Disclosures in Financial Statements

Explains the role of footnotes in providing context and transparency to reported figures. Students draft basic disclosures for accounting policies and significant estimates.

Lesson 3 • Statement of Cash Flows Overview

Introduces the three cash flow sections and the indirect method for operating activities. Students classify cash transactions and draft a basic cash flow statement.

Lesson 4 • Balance Sheet Preparation

Covers classified balance sheet structure with current and non-current distinctions. Students verify that total assets equal total liabilities plus equity.

Lesson 1 • Notes Receivable and Interest Calculation

Introduces promissory notes, maturity dates, and interest revenue recognition. Students record note issuance, accrued interest, and collection at maturity.

Lesson 2 • Recording Trade Debtors Transactions

Explains credit sales, collections, and returns as they affect the debtors ledger. Students post transactions to subsidiary ledgers and reconcile to the control account.

Lesson 3 • Estimating and Recording Bad Debt Expense

Covers the allowance method for estimating uncollectible accounts under accrual accounting. Students calculate bad debt expense using percentage-of-sales and ageing methods.

Lesson 4 • Internal Controls Over Cash

Covers segregation of duties, authorisation, and physical safeguards for cash assets. Students evaluate a business's cash controls and identify weaknesses.

Lesson 1 • Merchandise Purchases and Purchase Discounts

Covers recording purchases, freight costs, returns, and early-payment discounts. Students apply the net and gross methods for recording purchase discounts.

Lesson 2 • Stock Costing Methods

Covers FIFO, LIFO, and weighted-average cost methods for assigning costs to stock. Students calculate closing stock and cost of sales under each method.

Lesson 3 • Stock Systems: Perpetual vs. Periodic

Compares continuous tracking under perpetual systems with period-end counting under periodic. Students record purchases and sales under both systems and compare results.

Lesson 4 • Lower of Cost or Net Realisable Value

Teaches the conservatism rule requiring stock write-down when market value falls below cost. Students identify write-down situations and record the necessary adjusting entries.

Lesson 1 • Depreciation Methods and Calculations

Covers straight-line, declining-balance, and units-of-production depreciation methods. Students prepare depreciation schedules and select methods based on asset usage patterns.

Lesson 2 • Asset Disposal: Sale, Retirement, and Trade-In

Teaches removing assets from the books and recognising gains or losses on disposal. Students record sales at book value, above book value, and below book value.

Lesson 3 • Intangible Assets and Amortisation

Covers patents, trademarks, copyrights, and goodwill recognition and amortisation. Students record intangible asset acquisition and calculate annual amortisation expense.

Lesson 4 • Capital Expenditures vs. Revenue Expenditures

Distinguishes improvements that extend asset life from repairs that maintain current capacity. Students classify expenditures and record them with appropriate journal entries.

Lesson 1 • Payroll Accounting and Employer Obligations

Explains gross pay, deductions, net pay, and employer payroll tax liabilities. Students prepare a payroll register and record payroll journal entries completely.

Lesson 2 • Contingent Liabilities and Commitments

Explains when to record, disclose, or ignore potential obligations based on probability. Students apply recognition criteria to warranty liabilities and pending litigation.

Lesson 3 • Current Liabilities Recording and Classification

Covers trade creditors, accruals, deferred income, and short-term notes payable. Students classify and record each type with correct period-end accruals.

Lesson 4 • Shareholders' Equity Transactions

Covers issuance of ordinary and preference shares, treasury shares, and dividend declarations. Students record each transaction and update the equity section of the balance sheet.

Lesson 1 • Horizontal and Vertical Analysis

Teaches trend analysis across periods and common-size statement construction. Students identify significant changes and explain their likely business causes.

Lesson 2 • Cash Flow Statement Analysis

Evaluates operating, investing, and financing cash flows to assess liquidity and strategy. Students classify a company's cash flow pattern and draw conclusions about sustainability.

Lesson 3 • Profitability and Efficiency Ratios

Covers gross margin, return on assets, return on equity, and asset turnover ratios. Students link ratio results to specific profit and loss account and balance sheet line items.

Lesson 4 • Liquidity and Solvency Ratios

Calculates current ratio, quick ratio, and debt-to-equity ratio to assess financial stability. Students interpret results and compare them against industry benchmarks.