ACCT 2000

Hawaii Pacific University

Course Overview

Lessons & Practice

I. Welcome

1. Introduction to Financial Accounting

11min

1.1.1. What is Financial Accounting?29 sec

1.2.1. Users of Financial Accounting2 min

1.3.1. Sole-Proprietorship1 min

1.3.2. Partnerships2 min

1.3.3. Corporations2 min

1.3.4. Practice1 min

1.4.1. International Financial Reporting Standards (IFRS)47 sec

1.5.1. Generally Accepted Accounting Principles (GAAP)36 sec

2. Financial Statements

1.7hr

2.1.1. The Purpose of an Income Statement4 min

2.2.1. Revenues3 min

2.2.2. Example1 min

2.2.3. Practice31 sec

2.2.4. Practice1 min

2.3.1. Expenses1 min

2.3.2. Practice

2.3.3. Practice1 min

2.4.1. Net Income and Earnings per Share2 min

2.4.2. Example2 min

2.4.3. Practice3 min

2.4.4. Practice5 min

2.5.1. Preparing the Income Statement

2.5.2. Example7 min

2.5.3. Practice6 min

2.6.1. The Purpose of a Balance Sheet33 sec

2.7.1. Assets58 sec

2.7.2. Types of Assets5 min

2.7.3. Asset Classification2 min

2.7.4. Example1 min

2.7.5. Practice2 min

2.8.1. Liabilities25 sec

2.8.2. Liability Classification58 sec

2.8.3. Types of Liabilities3 min

2.8.4. Example2 min

2.8.5. Practice54 sec

2.9.1. Shareholders' Equity (Owners' Equity)2 min

2.9.2. Practice2 min

2.10.1. Preparing the Balance Sheet3 min

2.10.2. Example13 min

2.10.3. Practice5 min

2.11.1. The Purpose of a Statement of Changes in Equity2 min

2.11.2. Example6 min

2.11.3. Practice6 min

2.12.1. The Purpose of a Statement of Cash Flows56 sec

2.13.1. Cash Flow Classification2 min

2.13.2. Example1 min

2.13.3. Practice2 min

2.13.4. Practice1 min

3. Transaction Analysis

1.9hr

3.1.1. Qualitative Characteristics of Accounting Information2 min

3.1.2. Accounting Assumptions2 min

3.1.3. Accounting Principles52 sec

3.1.4. Practice2 min

3.2.1. The Accounting Cycle38 sec

3.3.1. Accounts33 sec

3.3.2. Naming Accounts4 min

3.3.3. Practice5 min

3.4.1. Business Transactions1 min

3.4.2. Practice2 min

3.5.1. The Accounting Equation2 min

3.5.2. The Expanded Accounting Equation2 min

3.5.3. Practice4 min

3.6.1. Debits and Credits3 min

3.6.2. Example5 min

3.6.3. Practice5 min

3.6.4. Practice3 min

3.7.1. Journal Entries1 min

3.7.2. Example5 min

3.7.3. Practice3 min

3.8.1. Issuing Shares3 min

3.8.2. Declaring and Paying Dividends2 min

3.8.3. Example2 min

3.8.4. Example2 min

3.8.5. Practice1 min

3.8.6. Practice2 min

3.9.1. Journalizing Revenues4 min

3.9.2. Example5 min

3.9.3. Practice3 min

3.9.4. Practice (Challenging)3 min

3.10.1. Journalizing Expenses2 min

3.10.2. Example4 min

3.10.3. Practice3 min

3.11.1. T-Accounts3 min

3.11.2. Example4 min

3.11.3. Practice4 min

3.11.4. Practice (Challenging)5 min

3.12.1. Trial Balance54 sec

3.12.2. Unadjusted Trial Balance1 min

3.12.3. Example10 min

3.12.4. Practice (Video coming soon!)

4. The Year Ended Process

1.7hr

4.1.1. Accrual Basis vs Cash Basis Accounting60 sec

4.1.2. The Fiscal Year44 sec

4.2.1. How to Write an Adjusting Journal Entry3 min

4.2.2. Example4 min

4.2.3. Practice2 min

4.3.1. Accrued Expenses3 min

4.3.2. Example5 min

4.3.3. Practice2 min

4.3.4. Practice (Challenging)7 min

4.4.1. Deferred Expenses2 min

4.4.2. Example7 min

4.4.3. Practice3 min

4.4.4. Practice (Challenging)6 min

4.5.1. Accrued Revenues55 sec

4.5.2. Example2 min

4.5.3. Practice4 min

4.6.1. Deferred Revenues52 sec

4.6.2. Example4 min

4.6.3. Practice1 min

4.7.1. The Adjusted Trial Balance2 min

4.8.1. Preparing the Financial Statements2 min

4.9.1. Temporary and Permanent Accounts2 min

4.9.2. Closing Entries4 min

4.9.3. Post-Closing Trial Balance1 min

4.9.4. Example7 min

4.9.5. Practice6 min

4.10.1. Current Ratio2 min

4.10.2. Example55 sec

4.10.3. Practice2 min

4.11.1. Asset Turnover Ratio1 min

4.11.2. Example2 min

4.11.3. Practice2 min

4.12.1. Return on Assets2 min

4.12.2. Example2 min

4.12.3. Practice2 min

4.13.1. Return on Equity1 min

4.13.2. Example1 min

4.13.3. Practice1 min

4.14.1. Gross Profit Margin1 min

4.14.2. Profit Margin1 min

4.14.3. Example2 min

4.14.4. Practice1 min

5. Merchandising

2hr

5.1.1. Merchandising Operations2 min

5.2.1. Perpetual Inventory System1 min

5.3.1. Recording Purchases (Perpetual)4 min

5.3.2. Example2 min

5.3.3. Practice4 min

5.4.1. Purchase Discounts (Perpetual)3 min

5.4.2. Example3 min

5.4.3. Practice5 min

5.5.1. Purchase Returns and Allowances (Perpetual)2 min

5.5.2. Example5 min

5.5.3. Practice3 min

5.6.1. Recording Sales (Perpetual)5 min

5.6.2. Example1 min

5.6.3. Practice5 min

5.7.1. Sales Discounts (Video coming soon!)2 min

5.7.2. Example3 min

5.7.3. Practice8 min

5.8.1. Sales Returns and Allowances4 min

5.8.2. Example4 min

5.8.3. Practice4 min

5.9.1. Periodic Inventory System47 sec

5.10.1. Recording Purchases (Periodic)4 min

5.10.2. Example2 min

5.10.3. Practice4 min

5.11.1. Purchase Discounts (Periodic)3 min

5.11.2. Example2 min

5.11.3. Practice4 min

5.12.1. Purchase Returns and Allowances (Periodic)2 min

5.12.2. Example5 min

5.12.3. Practice3 min

5.13.1. Recording Sales (Periodic)2 min

5.13.2. Example3 min

5.13.3. Practice4 min

5.14.1. Recording Cost of Goods Sold (Periodic)2 min

5.14.2. Example3 min

5.14.3. Practice4 min

6. Inventory

1.4hr

6.1.1. Inventory2 min

6.2.1. Specific Identification1 min

6.2.2. Example3 min

6.2.3. Practice5 min

6.3.1. First-in, First-out (FIFO)45 sec

6.3.2. Example8 min

6.3.3. Practice4 min

6.4.1. Last-in, First-out (LIFO)43 sec

6.4.2. Example6 min

6.4.3. Practice4 min

6.5.1. Average Cost Method (Perpetual Inventory)3 min

6.5.2. Example9 min

6.5.3. Practice6 min

6.6.1. Average Cost Method (Periodic Inventory)1 min

6.6.2. Example5 min

6.6.3. Practice4 min

6.7.1. Effects of Costing Methods on Financial Position2 min

6.7.2. Practice3 min

6.8.1. Inventory Costing Methods3 min

6.8.2. Practice56 sec

6.9.1. Lower of Cost and Net Realizable Value3 min

6.9.2. Example4 min

6.9.3. Practice2 min

6.10.1. Inventory Turnover Ratio and Average Days to Sell2 min

6.10.2. Example2 min

6.10.3. Practice3 min

7. Internal Control and Cash

42min

7.1.1. Internal Control2 min

7.1.2. Control Activities

7.2.1. Petty Cash1 min

7.2.2. Using and Replenishing the Petty Cash2 min

7.2.3. Example2 min

7.2.4. Practice2 min

7.3.1. Bank Reconciliation9 min

7.3.2. Example13 min

7.3.3. Practice11 min

8. Receivables

1.2hr

8.1.1. Accounts Receivable1 min

8.2.1. Allowance for Doubtful Accounts4 min

8.3.1. Writing-off Accounts1 min

8.3.2. Example39 sec

8.3.3. Practice27 sec

8.4.1. Recovering Written-off Accounts56 sec

8.4.2. Example51 sec

8.4.3. Practice38 sec

8.5.1. Percentage of Receivables Method1 min

8.5.2. Example4 min

8.5.3. Example4 min

8.5.4. Practice3 min

8.5.5. Practice16 min

8.6.1. Percentage of Sales Method1 min

8.6.2. Example3 min

8.6.3. Practice3 min

8.7.1. Receivables Turnover Ratio and Average Collection Period3 min

8.7.2. Example3 min

8.7.3. Practice4 min

8.8.1. Notes Receivable1 min

8.8.2. Example1 min

8.8.3. Practice1 min

8.9.1. Collecting a Note Receivable3 min

8.9.2. Example2 min

8.9.3. Practice3 min

8.10.1. Uncollected Notes Receivable52 sec

8.10.2. Example2 min

8.10.3. Practice2 min

9. Long-Term Assets

2.2hr

9.1.1. Property, Plant & Equipment1 min

9.2.1. Intangible Assets1 min

9.3.1. Acquisition Cost1 min

9.3.2. Example2 min

9.3.3. Practice1 min

9.3.4. Self-Constructed Assets (*Coming soon)

9.4.1. Basket Purchases3 min

9.4.2. Example4 min

9.4.3. Practice5 min

9.5.1. Assets Purchased with Zero-interest Note2 min

9.5.2. Example2 min

9.5.3. Practice1 min

9.5.4. Present Value of $1 Factor Table

9.6.1. Capital Expenditures vs Operating Expenses2 min

9.6.2. Example2 min

9.6.3. Practice

9.6.4. Practice2 min

9.7.1. Depreciation and Amortization4 min

9.7.2. Amortization Table44 sec

9.8.1. Straight-Line Method2 min

9.8.2. Example5 min

9.8.3. Example3 min

9.8.4. Practice3 min

9.8.5. Practice2 min

9.9.1. Double-Declining Balance Method4 min

9.9.2. Example2 min

9.9.3. Practice2 min

9.9.4. Practice6 min

9.10.1. Units of Production Method3 min

9.10.2. Example2 min

9.10.3. Practice2 min

9.10.4. Practice2 min

9.11.1. Changes in Estimates2 min

9.11.2. Example3 min

9.11.3. Example3 min

9.11.4. Practice5 min

9.11.5. Practice (Challenging)5 min

9.12.1. Disposal of Assets2 min

9.12.2. Example4 min

9.12.3. Practice6 min

9.13.1. Asset Impairment2 min

9.13.2. Example4 min

9.13.3. Practice3 min

9.14.1. Goodwill3 min

9.14.2. Example6 min

9.14.3. Example

9.14.4. Practice1 min

9.14.5. Practice3 min

9.15.1. Fixed Asset Turnover Ratio41 sec

9.15.2. Example2 min

9.15.3. Practice4 min

10. Current Liabilities

2.3hr

10.1.1. Accounts Payable2 min

10.1.2. Notes Payable3 min

10.1.3. Example5 min

10.1.4. Practice5 min

10.2.1. Current Portion of Long-term Debt2 min

10.2.2. Example4 min

10.2.3. Practice3 min

10.3.1. Uncertain Liabilities2 min

10.4.1. Payroll Liabilities5 min

10.4.2. Example4 min

10.4.3. Practice7 min

10.5.1. Payroll Liabilities7 min

10.5.2. Example17 min

10.5.3. Practice14 min

10.6.1. Sales Tax Liabilities3 min

10.6.2. Example3 min

10.6.3. Example3 min

10.6.4. Practice3 min

10.7.1. Warranties4 min

10.7.2. Example3 min

10.7.3. Practice2 min

10.7.4. Practice2 min

10.8.1. What is Deferred Income Tax?6 min

10.8.2. Example2 min

10.8.3. Practice6 min

10.8.4. Example7 min

10.8.5. Practice4 min

10.8.6. Practice7 min

11. Long-Term Liabilities

2.9hr

11.4.1. What is a Bond?4 min

11.4.2. Coupon Payments3 min

11.4.3. Practice2 min

11.5.1. Bond Pricing7 min

11.5.2. Recording a Bond Issuance2 min

11.5.3. Example3 min

11.5.4. Example4 min

11.5.5. Example1 min

11.5.6. Practice9 min

11.5.7. Present Value Factor Tables

11.6.1. Interest Expense2 min

11.6.2. Bond Amortization Table3 min

11.6.3. Example6 min

11.6.4. Example6 min

11.6.5. Practice5 min

11.6.6. Practice5 min

11.7.1. Recording a Coupon Payment2 min

11.7.2. Example2 min

11.7.3. Example1 min

11.7.4. Example2 min

11.7.5. Practice3 min

11.7.6. Practice3 min

11.7.7. Practice1 min

11.8.1. Journal Entry: Interest Accrual5 min

11.8.2. Example5 min

11.8.3. Example5 min

11.8.4. Practice5 min

11.8.5. Practice3 min

11.9.1. Retirement of Bonds at Maturity46 sec

11.9.2. Example1 min

11.9.3. Practice41 sec

11.10.1. Bond Early Redemption6 min

11.10.2. Example17 min

11.10.3. Example4 min

11.10.4. Practice5 min

11.10.5. Practice17 min

11.11.1. Times-interest-earned Ratio1 min

11.11.2. Example1 min

11.11.3. Practice3 min

11.12.1. Debt-to-Asset Ratio59 sec

11.12.2. Example2 min

11.12.3. Practice2 min

11.13.1. Bonds on the Balance Sheet1 min

11.13.2. Example8 min

11.13.3. Practice

11.14.1. Bonds on the Income Statement1 min

11.14.2. Example3 min

11.14.3. Practice4 min

12. Shareholders' Equity

1.6hr

12.1.1. Benefits of Share Ownership1 min

12.2.1. Common Shares3 min

12.2.2. Preferred Shares3 min

12.2.3. Practice56 sec

12.3.1. Status of Shares3 min

12.4.1. Issuing No-Par Value Shares1 min

12.4.2. Example3 min

12.4.3. Practice2 min

12.5.1. Issuing Par Value Shares2 min

12.5.2. Example2 min

12.5.3. Practice1 min

12.6.1. Why do Companies Repurchase Shares?2 min

12.7.1. Retiring No-Par Value Shares2 min

12.7.2. Example4 min

12.7.3. Practice4 min

12.8.1. Retiring Par-value Shares3 min

12.8.2. Example1 min

12.8.3. Practice4 min

12.9.1. Treasury Shares2 min

12.9.2. Example1 min

12.9.3. Practice2 min

12.10.1. Dividends44 sec

12.10.2. Dividend Dates4 min

12.10.3. Practice

12.11.1. Cash Dividends1 min

12.11.2. Example2 min

12.11.3. Example3 min

12.11.4. Practice5 min

12.12.1. Stock Dividends2 min

12.12.2. Example3 min

12.12.3. Example2 min

12.12.4. Practice2 min

12.12.5. Practice2 min

12.13.1. Stock Splits2 min

12.13.2. Example2 min

12.13.3. Practice2 min

12.13.4. Practice1 min

12.14.1. Dividend Yield1 min

12.14.2. Example48 sec

12.14.3. Practice1 min

12.15.1. Dividend Payout Ratio51 sec

12.15.2. Example46 sec

12.15.3. Practice1 min

12.16.1. Price-Earnings Ratio2 min

12.16.2. Example45 sec

12.16.3. Practice1 min

12.17.1. Earnings per Share1 min

12.17.2. Example1 min

12.17.3. New Practice Question2 min

14. The Cash Flow Statement

1.6hr

14.1.1. The Cash Flow Statement1 min

14.2.1. Operating Activities (Direct Method)1 min

14.2.2. Example6 min

14.2.3. Practice2 min

14.3.1. Operating Activities (Indirect Method)3 min

14.3.2. Example6 min

14.3.3. Practice5 min

14.4.1. Investing Activities3 min

14.4.2. Example10 min

14.4.3. Practice11 min

14.5.1. Financing Activities2 min

14.5.2. Example8 min

14.5.3. Practice8 min

14.6.1. Complete Cash Flow Statement2 min

14.6.2. Example3 min

14.6.3. Practice4 min

14.7.1. Quality of Earnings Ratio2 min

14.7.2. Example1 min

14.7.3. Practice1 min

14.8.1. Capital Expenditure Ratio1 min

14.8.2. Example1 min

14.8.3. Practice1 min

14.9.1. Free Cash Flow46 sec

14.9.2. Example1 min

14.9.3. Practice1 min

14.10.1. Cash Coverage Ratio2 min

14.10.2. Example1 min

14.10.3. Practice2 min

14.11.1. Cash Current Debt Coverage2 min

14.11.2. Example2 min

14.11.3. Practice1 min

14.12.1. Cash Total Debt Coverage Ratio60 sec

14.12.2. Example (Copy)1 min

14.12.3. Practice (Copy)2 min

15. Financial Statement Analysis

1.6hr

15.1.1. Horizontal Analysis30 sec

15.1.2. Example1 min

15.1.3. Practice42 sec

15.2.1. Vertical Analysis53 sec

15.2.2. Example1 min

15.2.3. Example46 sec

15.2.4. Practice52 sec

15.2.5. Practice48 sec

15.3.1. Ratio Analysis1 min

15.3.2. Practice1 min

15.4.1. Gross Profit Margin1 min

15.4.2. Profit Margin1 min

15.4.3. Example2 min

15.4.4. Practice1 min

15.5.1. Asset Turnover Ratio1 min

15.5.2. Example2 min

15.5.3. Practice2 min

15.6.1. Return on Assets2 min

15.6.2. Example3 min

15.6.3. Practice2 min

15.7.1. Return on Equity1 min

15.7.2. Example1 min

15.7.3. Practice1 min

15.8.1. Payout Ratio51 sec

15.8.2. Example46 sec

15.8.3. Practice43 sec

15.9.1. Price-Earnings Ratio2 min

15.9.2. Example45 sec

15.9.3. Practice1 min

15.10.1. Dividend Yield1 min

15.10.2. Example48 sec

15.10.3. Practice1 min

15.11.1. Current Ratio2 min

15.11.2. Example2 min

15.11.3. Practice2 min

15.12.1. Quick Ratio (Acid Test Ratio)49 sec

15.12.2. Example2 min

15.12.3. Practice2 min

15.13.1. Cash Ratio56 sec

15.13.2. Example1 min

15.13.3. Practice49 sec

15.14.1. Receivables Turnover Ratio and Average Collection Period3 min

15.14.2. Example2 min

15.14.3. Practice1 min

15.15.1. Inventory Turnover Ratio and Average Days to Sell2 min

15.15.2. Example2 min

15.15.3. Practice1 min

15.16.1. Cash Current Debt Coverage2 min

15.16.2. Example2 min

15.16.3. Practice1 min

15.17.1. Times Interest Earned Ratio1 min

15.17.2. Example2 min

15.17.3. Practice3 min

15.18.1. Debt-to-Asset Ratio59 sec

15.18.2. Example51 sec

15.18.3. Practice2 min

15.19.1. Debt-to-Equity Ratio39 sec

15.19.2. Example33 sec

15.19.3. Practice35 sec

15.20.1. Cash Total Debt Coverage60 sec

15.20.2. Example1 min

15.20.3. Practice2 min

15.21.1. Cash Coverage Ratio2 min

15.21.2. Example1 min

15.21.3. Practice2 min

15.22.1. Earnings per Share1 min

15.22.2. Example1 min

15.22.3. Practice2 min

15.23.1. Free Cash Flow46 sec

15.23.2. Example1 min

15.23.3. Practice1 min

16. TVM (*Coming soon)

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