Expert Accountant Course

Lesson 1 • The Accounting Equation and Its Components

Introduces assets, liabilities, and equity as the backbone of financial recording. Establishes the equation as the lens for all subsequent transaction analysis.

Lesson 2 • Chart of Accounts and Account Classification

Covers how accounts are organised, numbered, and categorised within a business. Provides the structural map students use throughout the course.

Lesson 3 • Double-Entry Bookkeeping Mechanics

Teaches the debit-credit framework and how every transaction affects two or more accounts. Connects mechanical recording to accurate financial statements.

Lesson 1 • Journalising Business Transactions

Demonstrates how to analyse source documents and record journal entries accurately. Reinforces double-entry rules introduced in Chapter 1.

Lesson 2 • Posting to the General Ledger

Explains the transfer of journal entries to individual ledger accounts. Students see how the ledger accumulates running balances for each account.

Lesson 3 • Subsidiary Ledgers and Control Accounts

Introduces accounts receivable and accounts payable subsidiary ledgers and their relationship to control accounts. Builds accuracy and detail in high-volume transaction environments.

Lesson 1 • Cash vs. Accrual Basis Accounting

Contrasts cash and accrual recognition methods and explains why accrual produces more accurate financial results. Motivates the need for period-end adjustments.

Lesson 2 • Prepaid Expenses and Deferred Revenue

Covers adjustments for costs paid in advance and revenue received before delivery. Students allocate these balances correctly across accounting periods.

Lesson 3 • Completing the Adjusted Trial Balance

Integrates all adjusting entries into the worksheet and produces the adjusted trial balance. Bridges adjustments to formal financial statement preparation.

Lesson 4 • Accrued Revenues and Accrued Expenses

Teaches recognition of earned but unbilled revenue and incurred but unpaid expenses. Completes the four adjusting entry categories for period-end accuracy.

Lesson 1 • Income Statement Construction

Builds single-step and multi-step income statements from adjusted trial balance data. Distinguishes operating from non-operating items for accurate profitability reporting.

Lesson 2 • Statement of Financial Position and Statement of Equity

Demonstrates classified statement of financial position construction and links retained earnings to the equity statement. Students see how statements interconnect through shared figures.

Lesson 3 • Financial Ratio Analysis

Applies liquidity, profitability, and solvency ratios to interpret financial statement results. Connects ratio outcomes to business decision-making.

Lesson 4 • Cash Flow Statement Fundamentals

Explains the three cash flow categories and the indirect method of preparing operating activities. Highlights why cash flow differs from net income.

Lesson 1 • Inventory Costing Methods

Applies FIFO, LIFO, and weighted-average cost methods to calculate ending inventory and COGS. Demonstrates how each method produces different financial results.

Lesson 2 • Inventory Systems: Perpetual vs. Periodic

Contrasts continuous perpetual tracking with periodic physical counts and their recording differences. Establishes the operational context for all inventory costing methods.

Lesson 3 • Lower of Cost or Net Realisable Value

Teaches the conservatism principle applied to inventory write-downs when market value falls. Students record inventory adjustments and understand their income statement impact.

Lesson 1 • Long-Term Debt and Bond Accounting

Covers issuance, interest accrual, and retirement of bonds and notes payable. Students apply effective-interest and straight-line amortisation of premiums and discounts.

Lesson 2 • Asset Disposal and Impairment

Records gains and losses on asset sales, retirements, and exchanges. Introduces impairment testing and write-down procedures for assets that lose value.

Lesson 3 • Shareholders Equity Transactions

Records common and preference share issuance, treasury shares, and dividend declarations. Connects equity transactions to changes in the statement of financial position and retained earnings.

Lesson 4 • Acquiring and Capitalising Long-Term Assets

Defines capitalisation criteria and records the cost of property, plant, equipment, and intangibles. Distinguishes capital expenditure from revenue expenditure.

Lesson 1 • Activity-Based Costing

Assigns overhead using activity drivers rather than volume-based rates for greater accuracy. Demonstrates how ABC reveals true product profitability hidden by traditional costing.

Lesson 2 • Budgeting and Variance Analysis

Constructs master budgets and analyses deviations between actual and budgeted results. Connects planning to performance evaluation and corrective action.

Lesson 3 • Cost Classification and Behaviour

Categorises costs as fixed, variable, mixed, direct, and indirect relative to cost objects. Provides the vocabulary and framework for all managerial analysis that follows.

Lesson 4 • Cost-Volume-Profit Analysis

Uses contribution margin and break-even analysis to evaluate profitability at different output levels. Supports pricing, production, and sales mix decisions.

Lesson 1 • Audit Procedures and Evidence

Covers audit risk assessment, sampling, and substantive testing procedures. Students understand how auditors gather sufficient appropriate evidence for an opinion.

Lesson 2 • Professional Ethics and Regulatory Compliance

Applies ethical frameworks and independence standards to real-world accounting dilemmas. Prepares students to navigate conflicts of interest and regulatory obligations.

Lesson 3 • Revenue Recognition Standards

Applies the five-step revenue recognition model to complex contracts with multiple performance obligations. Ensures compliance with current authoritative reporting standards.

Lesson 4 • Internal Controls and Fraud Prevention

Designs and evaluates internal control systems using established control frameworks. Identifies fraud schemes and the control activities that mitigate them.