General Accountant Course

Lesson 1 • Generally Accepted Accounting Principles

Covers the core conventions governing financial reporting consistency and comparability. Students apply these principles to evaluate whether records are properly prepared.

Lesson 2 • Types of Business Entities and Structures

Distinguishes sole proprietorships, partnerships, and corporations by ownership and liability. Entity type determines how equity and distributions are recorded.

Lesson 3 • The Accounting Equation and Its Components

Introduces assets, liabilities, and equity as the structural basis of all financial records. Mastery here underpins every transaction entry in the chapter.

Lesson 1 • Subsidiary Ledgers and Control Accounts

Introduces accounts receivable and payable subsidiary ledgers linked to control accounts. Students reconcile subsidiary totals to control account balances.

Lesson 2 • The General Journal and General Ledger

Covers journalising transactions and posting them to ledger accounts. Accurate posting is required before trial balance preparation in the next section.

Lesson 3 • Debits, Credits, and Normal Balances

Explains how each account type carries a normal debit or credit balance. This rule set is the mechanical foundation for all journal entry work.

Lesson 4 • Preparing the Trial Balance

Demonstrates how to extract ledger balances and verify debit-credit equality. A correct trial balance confirms posting accuracy before adjustments.

Lesson 1 • Completing the Adjusted Trial Balance

Integrates all adjusting entries into the trial balance to produce the adjusted version. This document feeds directly into financial statement preparation.

Lesson 2 • Accruals: Revenues and Expenses

Covers entries for earned revenue not yet received and incurred expenses not yet paid. Accruals ensure the income statement reflects actual period activity.

Lesson 3 • Deferrals: Prepaid and Unearned Items

Addresses prepaid expenses and unearned revenues that span multiple periods. Proper deferral prevents misstatement of both the balance sheet and income statement.

Lesson 4 • Allowance for Doubtful Accounts

Explains the allowance method for estimating uncollectible receivables. Students record bad debt expense and write off specific accounts accurately.

Lesson 1 • Notes Receivable and Interest

Records promissory notes, calculates interest, and accounts for maturity proceeds. Students distinguish notes receivable from accounts receivable in financial statements.

Lesson 2 • Accounts Receivable Management

Covers credit policies, ageing analysis, and collection strategies for receivables. Effective management reduces bad debt expense and improves cash conversion.

Lesson 3 • Bank Reconciliation

Reconciles the company's cash book balance to the bank statement balance monthly. Students identify outstanding cheques, deposits in transit, and bank errors.

Lesson 4 • Cash Controls and Petty Cash

Establishes internal controls over cash receipts, disbursements, and petty cash funds. Strong controls prevent misappropriation and support accurate reporting.

Lesson 1 • The Statement of Cash Flows

Covers operating, investing, and financing activities using both direct and indirect methods. Students trace cash movements that net income alone does not reveal.

Lesson 2 • The Income Statement

Builds single-step and multi-step income statements from adjusted trial balance data. Students distinguish gross profit, operating income, and net income.

Lesson 3 • The Balance Sheet

Organises assets, liabilities, and equity into a classified balance sheet. Proper classification reveals liquidity and long-term solvency at a glance.

Lesson 4 • Statement of Changes in Equity

Tracks retained earnings, dividends, and other equity movements across a period. Students link this statement to both the income statement and balance sheet.

Lesson 1 • Intangible Assets and Amortisation

Covers patents, trademarks, goodwill, and their amortisation or impairment testing. Students distinguish finite-life from indefinite-life intangibles in reporting.

Lesson 2 • Perpetual vs. Periodic Inventory Systems

Contrasts real-time perpetual tracking with end-of-period periodic counting. Students select the appropriate system based on business size and transaction volume.

Lesson 3 • Inventory Costing Methods

Compares FIFO, LIFO, and weighted-average methods for assigning costs to sold and remaining inventory. Method choice directly affects gross profit and tax exposure.

Lesson 4 • Acquisition and Disposal of Fixed Assets

Records asset purchases, improvements, and disposals including gains and losses. Proper capitalisation versus expensing decisions affect multi-year financial results.

Lesson 1 • Employee Withholdings and Deductions

Covers mandatory tax withholdings and voluntary deductions such as retirement and health benefits. Students calculate net pay and maintain accurate employee records.

Lesson 2 • Gross Pay Calculations

Computes regular, overtime, and commission-based gross pay for hourly and salaried employees. Accurate gross pay is the starting point for all withholding calculations.

Lesson 3 • Payroll Journal Entries and Registers

Records payroll expense, withholding liabilities, and net pay disbursement in the general journal. The payroll register serves as the source document for all entries.

Lesson 4 • Payroll Tax Reporting and Remittance

Covers periodic tax deposit schedules, annual reconciliation forms, and employee earnings statements. Timely remittance avoids penalties and maintains compliance.

Lesson 1 • Budgeting and the Master Budget

Constructs the sales, production, and cash budgets that form the master budget. Integrated budgets align departmental plans with overall financial goals.

Lesson 2 • Variance Analysis and Performance Reporting

Calculates price, quantity, and efficiency variances to identify operational deviations. Students interpret variances and recommend corrective actions in performance reports.

Lesson 3 • Job-Order and Process Costing

Applies job-order costing to custom production and process costing to continuous manufacturing. Students calculate unit costs and work-in-process balances under each system.

Lesson 4 • Cost Classifications and Behaviour

Distinguishes fixed, variable, and mixed costs and their behaviour across activity levels. Understanding cost behaviour is prerequisite to budgeting and break-even analysis.