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 organized, numbered, and categorized 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 • Journalizing Business Transactions

Demonstrates how to analyze 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 • Balance Sheet and Statement of Equity

Demonstrates classified balance sheet 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 Realizable 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 amortization 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 • Stockholders Equity Transactions

Records common and preferred stock issuance, treasury stock, and dividend declarations. Connects equity transactions to changes in the balance sheet and retained earnings.

Lesson 4 • Acquiring and Capitalizing Long-Term Assets

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

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 analyzes deviations between actual and budgeted results. Connects planning to performance evaluation and corrective action.

Lesson 3 • Cost Classification and Behavior

Categorizes 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.