Accountancy Course

Lesson 1 • Core Accounting Concepts and Assumptions

Covers the going-concern, accrual, consistency, and prudence concepts. These assumptions underpin every recording decision made throughout the course.

Lesson 2 • Classification of Accounts

Teaches the five account categories and their normal balances. Correct classification is prerequisite to accurate journal entries covered in the next section.

Lesson 3 • The Purpose and Scope of Accounting

Defines accounting's role in business decision-making and stakeholder communication. Grounds students in why accurate financial records matter before any technical work begins.

Lesson 4 • Introduction to the Double-Entry System

Explains how every transaction affects at least two accounts equally. Students record simple entries and verify balance using the debit-credit rule.

Lesson 1 • Source Documents and Transaction Analysis

Identifies the documents that trigger accounting entries and how to extract relevant data. Accurate analysis here prevents errors in all downstream cycle steps.

Lesson 2 • Posting to the General Ledger

Transfers journal entries to individual ledger accounts and maintains running balances. Students see how the ledger becomes the source for the trial balance.

Lesson 3 • Adjusting and Closing Entries

Records period-end accruals, deferrals, and depreciation, then closes temporary accounts. These steps ensure statements reflect the correct reporting period.

Lesson 4 • Journalizing Transactions

Covers recording transactions in the general journal with correct format and narration. Proper journalizing feeds accurate ledger balances in the next step.

Lesson 1 • Statement of Changes in Equity

Tracks movements in retained earnings, share capital, and reserves over the period. Students reconcile opening and closing equity balances accurately.

Lesson 2 • The Income Statement

Builds a multi-step income statement showing gross profit, operating income, and net income. Students link revenue and expense accounts from the adjusted trial balance.

Lesson 3 • The Statement of Cash Flows

Presents cash inflows and outflows across operating, investing, and financing activities. Students use both direct and indirect methods to prepare this statement.

Lesson 4 • Notes and Disclosures

Explains the role of footnotes in providing context that numbers alone cannot convey. Students draft basic disclosures for accounting policies and contingencies.

Lesson 1 • Inventory Valuation Methods

Compares FIFO, LIFO, and weighted-average cost methods and their income effects. Students choose and apply a method consistently across reporting periods.

Lesson 2 • Cash and Receivables Management

Covers cash controls, bank reconciliations, and the allowance method for bad debts. Accurate receivables reporting directly affects liquidity presentation.

Lesson 3 • Intangible Assets and Goodwill

Distinguishes identifiable intangibles from goodwill and applies amortization or impairment testing. Students record intangible asset transactions arising from purchase and development.

Lesson 1 • Long-Term Debt and Bond Accounting

Records bond issuance at par, premium, and discount using the effective-interest method. Students amortize bond premiums and discounts over the debt's life.

Lesson 2 • Equity Transactions and Retained Earnings

Records share issuance, buybacks, dividends, and stock splits. Students maintain the equity section through multiple transactions in a single period.

Lesson 3 • Current Liabilities Recognition

Covers accounts payable, accrued expenses, unearned revenue, and short-term notes. Students apply the one-year rule to classify obligations correctly.

Lesson 1 • Cost-Volume-Profit Analysis

Uses contribution margin and break-even analysis to evaluate profit at different sales levels. Students apply CVP to pricing, product mix, and margin-of-safety decisions.

Lesson 2 • Job-Order Costing Systems

Assigns direct materials, direct labor, and overhead to individual jobs using a job cost sheet. Students calculate unit costs and transfer completed jobs to finished goods.

Lesson 3 • Process Costing Systems

Accumulates costs by department for homogeneous products and calculates equivalent units. Students apply the weighted-average method to determine unit and total costs.

Lesson 4 • Cost Classification and Behavior

Distinguishes fixed, variable, and mixed costs and their behavior across output levels. Understanding cost behavior is essential for budgeting and variance analysis ahead.

Lesson 1 • Liquidity and Efficiency Ratios

Measures short-term solvency and asset utilization through current, quick, and turnover ratios. Students interpret results against industry benchmarks and prior periods.

Lesson 2 • Horizontal and Vertical Analysis

Calculates period-over-period changes and common-size percentages across statements. These techniques reveal trends and structural shifts before ratio analysis begins.

Lesson 3 • Solvency and Leverage Ratios

Evaluates long-term debt capacity using debt-to-equity, interest coverage, and debt ratios. Students assess whether a firm can sustain its obligations over time.

Lesson 4 • Integrated Analysis and Reporting

Combines ratio, trend, and qualitative factors into a coherent analytical narrative. Students write structured reports that communicate findings to non-accounting audiences.

Lesson 1 • Revenue Recognition Standards

Applies the five-step revenue recognition model to contracts with customers. Students allocate transaction prices and determine performance obligation timing.

Lesson 2 • Foreign Currency Transactions

Records transactions denominated in foreign currencies and translates financial statements. Students calculate exchange gains and losses at transaction and reporting dates.

Lesson 3 • Fair Value Measurement

Applies the fair value hierarchy to financial instruments and investment properties. Students distinguish Level 1, 2, and 3 inputs and document measurement choices.

Lesson 4 • Deferred Taxes and Accounting Changes

Records deferred tax assets and liabilities from temporary differences and applies retrospective adjustments. Students distinguish changes in estimates from changes in accounting policy.