Accountant Course

Lesson 1 • Accounting Assumptions and Principles

Presents going concern, accrual basis, consistency, and materiality as guiding rules. These principles govern every accounting decision made throughout the course.

Lesson 2 • Source Documents and Transaction Evidence

Covers invoices, receipts, and contracts as the basis for every journal entry. Reinforces the principle that all entries must be supported by verifiable documentation.

Lesson 3 • Double-Entry Bookkeeping Basics

Teaches the debit-credit mechanism and how every transaction affects two or more accounts. Provides the mechanical foundation for all journal entries.

Lesson 4 • Chart of Accounts Structure

Explains how accounts are organized, numbered, and categorized within a business. Enables students to design and navigate a functional chart of accounts.

Lesson 1 • Posting to the General Ledger

Transfers journal entries to individual ledger accounts and maintains running balances. Demonstrates how the ledger becomes the central repository of financial data.

Lesson 2 • Journalizing Business Transactions

Applies double-entry rules to record diverse transactions in the general journal. Builds speed and accuracy in identifying accounts and amounts affected.

Lesson 3 • Preparing the Trial Balance

Summarizes all ledger balances to test mathematical equality of debits and credits. Identifies common posting errors before financial statements are prepared.

Lesson 4 • Closing Entries and Post-Closing Trial Balance

Resets temporary accounts to zero and transfers net income to retained earnings. Prepares the ledger for the next accounting period.

Lesson 1 • Statement of Cash Flows

Presents operating, investing, and financing cash flows using both direct and indirect methods. Explains why cash flow differs from reported net income.

Lesson 2 • Notes and Disclosures

Explains the role of footnotes in providing context that numbers alone cannot convey. Covers significant accounting policies, contingencies, and subsequent events.

Lesson 3 • Statement of Changes in Equity

Tracks movements in retained earnings, paid-in capital, and other equity components. Links net income and dividends to the balance sheet equity section.

Lesson 4 • Balance Sheet Preparation

Organizes assets, liabilities, and equity into a classified balance sheet. Highlights liquidity ordering and the distinction between current and non-current items.

Lesson 1 • Revenue Over Time vs. at a Point

Distinguishes when control transfers continuously versus at a single moment. Applies percentage-of-completion and output methods to long-term contracts.

Lesson 2 • Matching Principle and Expense Recognition

Links expense recognition to the revenue it generates or the period it benefits. Covers cost of goods sold, period costs, and systematic allocation methods.

Lesson 3 • Contract Assets, Liabilities, and Disclosures

Records unbilled receivables, deferred revenue, and required qualitative disclosures. Ensures the balance sheet reflects the economic status of customer contracts.

Lesson 4 • Variable Consideration and Constraints

Handles discounts, rebates, returns, and performance bonuses within the transaction price. Applies the constraint test to avoid significant revenue reversals.

Lesson 1 • Liabilities: Current and Long-Term

Records accounts payable, accrued liabilities, bonds payable, and lease obligations. Applies effective-interest amortization to bond premiums and discounts.

Lesson 2 • Inventory Valuation Methods

Compares FIFO, LIFO, weighted average, and specific identification cost-flow assumptions. Analyzes how each method affects cost of goods sold and ending inventory.

Lesson 3 • Property, Plant, and Equipment

Records acquisition, depreciation, and disposal of long-lived tangible assets. Covers straight-line, declining balance, and units-of-production depreciation methods.

Lesson 4 • Cash and Receivables Management

Covers bank reconciliations, petty cash, and accounts receivable estimation methods. Ensures accurate reporting of liquid assets and expected collections.

Lesson 1 • Cost Classification and Behavior

Separates fixed, variable, mixed, and step costs and explains their behavior with volume. Provides the analytical lens for all subsequent cost and pricing decisions.

Lesson 2 • Budgeting and Variance Analysis

Builds master budgets and flexible budgets, then computes material and labor variances. Connects budget deviations to operational causes for management action.

Lesson 3 • Process Costing System

Assigns costs to homogeneous units flowing through production departments. Uses equivalent units to allocate costs between completed and in-process units.

Lesson 4 • Cost-Volume-Profit Analysis

Calculates break-even points, contribution margins, and target profit volumes. Supports pricing and production decisions by modeling profit sensitivity to volume changes.

Lesson 1 • Tax Framework and Filing Obligations

Outlines the structure of income taxation for individuals and entities without referencing specific codes. Identifies filing categories, periods, and compliance responsibilities.

Lesson 2 • Business Income and Deductible Expenses

Identifies ordinary and necessary business expenses eligible for deduction. Covers depreciation for tax purposes, startup costs, and entertainment expense limits.

Lesson 3 • Temporary and Permanent Differences

Distinguishes timing differences that reverse from permanent differences that never reverse. Explains why book income and taxable income diverge in any given period.

Lesson 4 • Tax Provision and Income Tax Expense

Computes current and deferred components of income tax expense for financial reporting. Reconciles the effective tax rate and discloses uncertain tax positions.

Lesson 1 • Audit Evidence and Procedures

Classifies evidence by type and sufficiency and links procedures to financial statement assertions. Covers confirmations, inspections, recalculations, and analytical procedures.

Lesson 2 • Internal Control Frameworks

Presents the five components of a widely adopted internal control framework and their objectives. Enables students to assess control environment strength in any organization.

Lesson 3 • Audit Planning and Risk Assessment

Establishes audit objectives, materiality thresholds, and inherent and control risk levels. Guides the design of an audit program responsive to identified risks.

Lesson 4 • Fraud Risk and Prevention

Applies the fraud triangle to identify conditions that enable misappropriation and misstatement. Designs preventive and detective controls to reduce fraud exposure.