COM 315

UVIC

Course Overview

Lessons & Practice

I. Welcome

1. The Purpose and Use of Financial Statements

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. A Further Look at 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. Accounting Process

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. Accruals and Adjusting Entries

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. Internal Control and Cash Non-Strategic and Strategic Investments

44min

5.1.1. Internal Control2 min

5.1.2. Control Activities

5.2.1. Petty Cash1 min

5.2.2. Using and Replenishing the Petty Cash2 min

5.2.3. Example2 min

5.2.4. Practice2 min

5.3.1. Bank Reconciliation9 min

5.3.2. Example13 min

5.3.3. Practice11 min

5.4.1. Classification of Investments2 min

6. Receivables

1.2hr

6.1.1. Accounts Receivable1 min

6.2.1. Allowance for Doubtful Accounts4 min

6.3.1. Writing-off Accounts1 min

6.3.2. Example39 sec

6.3.3. Practice27 sec

6.4.1. Recovering Written-off Accounts56 sec

6.4.2. Example51 sec

6.4.3. Practice38 sec

6.5.1. Percentage of Receivables Method1 min

6.5.2. Example4 min

6.5.3. Example4 min

6.5.4. Practice3 min

6.5.5. Practice16 min

6.6.1. Percentage of Sales Method1 min

6.6.2. Example3 min

6.6.3. Practice3 min

6.7.1. Receivables Turnover Ratio and Average Collection Period3 min

6.7.2. Example3 min

6.7.3. Practice4 min

6.8.1. Notes Receivable1 min

6.8.2. Example1 min

6.8.3. Practice1 min

6.9.1. Collecting a Note Receivable3 min

6.9.2. Example2 min

6.9.3. Practice3 min

6.10.1. Uncollected Notes Receivable52 sec

6.10.2. Example2 min

6.10.3. Practice2 min

7. Merchandising Operations COGS Three Inventory Methods

2.1hr

7.1.1. Merchandising Operations2 min

7.2.1. Perpetual Inventory System1 min

7.3.1. Recording Purchases (Perpetual)4 min

7.3.2. Example2 min

7.3.3. Practice4 min

7.4.1. Purchase Discounts (Perpetual)3 min

7.4.2. Example3 min

7.4.3. Practice5 min

7.5.1. Purchase Returns and Allowances (Perpetual)2 min

7.5.2. Example5 min

7.5.3. Practice3 min

7.6.1. Recording Sales (Perpetual)5 min

7.6.2. Example1 min

7.6.3. Practice5 min

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

7.7.2. Example3 min

7.7.3. Practice8 min

7.8.1. Sales Returns and Allowances4 min

7.8.2. Example4 min

7.8.3. Practice4 min

7.9.1. Inventory2 min

7.10.1. Specific Identification1 min

7.10.2. Example3 min

7.10.3. Practice5 min

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

7.11.2. Example8 min

7.11.3. Practice4 min

7.12.1. Average Cost Method (Perpetual Inventory)3 min

7.12.2. Example9 min

7.12.3. Practice6 min

7.13.1. Effects of Costing Methods on Financial Position2 min

7.13.2. Practice3 min

7.14.1. Inventory Costing Methods3 min

7.14.2. Practice56 sec

7.15.1. Lower of Cost and Net Realizable Value3 min

7.15.2. Example4 min

7.15.3. Practice2 min

8. Liabilities

1.5hr

8.1.1. Accounts Payable2 min

8.1.2. Notes Payable3 min

8.1.3. Example5 min

8.1.4. Practice5 min

8.2.1. Current Portion of Long-term Debt2 min

8.2.2. Example4 min

8.2.3. Practice3 min

8.3.1. Uncertain Liabilities2 min

8.4.1. Sales Tax Liabilities3 min

8.4.2. Example3 min

8.4.3. Example3 min

8.4.4. Practice3 min

8.5.1. Warranties4 min

8.5.2. Example3 min

8.5.3. Practice2 min

8.5.4. Practice2 min

8.6.1. What is Deferred Income Tax?6 min

8.6.2. Example2 min

8.6.3. Practice6 min

8.6.4. Example7 min

8.6.5. Practice4 min

8.6.6. Practice7 min

8.9.1. Times-interest-earned Ratio1 min

8.9.2. Example1 min

8.9.3. Practice3 min

8.10.1. Debt-to-Asset Ratio59 sec

8.10.2. Example2 min

8.10.3. Practice2 min

9. Long-Term Assets

1.6hr

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. Disposal of Assets2 min

9.11.2. Example4 min

9.11.3. Practice6 min

9.12.1. Goodwill3 min

9.12.2. Example6 min

9.12.3. Example

9.12.4. Practice1 min

9.12.5. Practice3 min

10. Shareholders' Equity

1.6hr

10.1.1. Benefits of Share Ownership1 min

10.2.1. Common Shares3 min

10.2.2. Preferred Shares3 min

10.2.3. Practice56 sec

10.3.1. Status of Shares3 min

10.4.1. Issuing No-Par Value Shares1 min

10.4.2. Example3 min

10.4.3. Practice2 min

10.5.1. Issuing Par Value Shares2 min

10.5.2. Example2 min

10.5.3. Practice1 min

10.6.1. Why do Companies Repurchase Shares?2 min

10.7.1. Retiring No-Par Value Shares2 min

10.7.2. Example4 min

10.7.3. Practice4 min

10.8.1. Retiring Par-value Shares3 min

10.8.2. Example1 min

10.8.3. Practice4 min

10.9.1. Treasury Shares2 min

10.9.2. Example1 min

10.9.3. Practice2 min

10.10.1. Dividends44 sec

10.10.2. Dividend Dates4 min

10.10.3. Practice

10.11.1. Cash Dividends1 min

10.11.2. Example2 min

10.11.3. Example3 min

10.11.4. Practice5 min

10.12.1. Stock Dividends2 min

10.12.2. Example3 min

10.12.3. Example2 min

10.12.4. Practice2 min

10.12.5. Practice2 min

10.13.1. Stock Splits2 min

10.13.2. Example2 min

10.13.3. Practice2 min

10.13.4. Practice1 min

10.14.1. Dividend Yield1 min

10.14.2. Example48 sec

10.14.3. Practice1 min

10.15.1. Dividend Payout Ratio51 sec

10.15.2. Example46 sec

10.15.3. Practice1 min

10.16.1. Price-Earnings Ratio2 min

10.16.2. Example45 sec

10.16.3. Practice1 min

10.17.1. Earnings per Share1 min

10.17.2. Example1 min

10.17.3. Practice2 min

11. Statement of Cash Flow

1.2hr

11.1.1. The Cash Flow Statement1 min

11.2.1. Operating Activities (Direct Method)1 min

11.2.2. Example6 min

11.2.3. Practice2 min

11.3.1. Operating Activities (Indirect Method)3 min

11.3.2. Example6 min

11.3.3. Practice5 min

11.4.1. Investing Activities3 min

11.4.2. Example10 min

11.4.3. Practice11 min

11.5.1. Financing Activities2 min

11.5.2. Example8 min

11.5.3. Practice8 min

11.6.1. Complete Cash Flow Statement2 min

11.6.2. Example3 min

11.6.3. Practice4 min

Mock Exams

ME.1. Midterm Examination - Mock Assessment23 Qns

ME.2. Final Examination - Exam-Like Practice Problem Set25 Qns

ME.2 Final Examination - Exam-Like Practice Problem Set

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Final Examination - Exam-Like Practice Problem Set

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