COMMERCE 1AA3

Mac

Course Overview

Lessons & Practice

I. Welcome

1. Financial Statements

1.8hr

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. The Purpose of an Income Statement4 min

1.6.1. Revenues3 min

1.6.2. Example1 min

1.6.3. Practice31 sec

1.6.4. Practice1 min

1.7.1. Expenses1 min

1.7.3. Practice

1.7.4. Practice1 min

1.8.1. Net Income and Earnings per Share2 min

1.8.2. Example2 min

1.8.3. Practice3 min

1.8.4. Practice5 min

1.9.1. Preparing the Income Statement

1.9.2. Example7 min

1.9.3. Practice6 min

1.10.1. The Purpose of a Balance Sheet33 sec

1.11.1. Assets58 sec

1.11.2. Types of Assets5 min

1.11.3. Asset Classification2 min

1.11.4. Example1 min

1.11.5. Practice2 min

1.12.1. Liabilities25 sec

1.12.2. Liability Classification58 sec

1.12.3. Types of Liabilities3 min

1.12.4. Example2 min

1.12.5. Practice54 sec

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

1.13.2. Practice2 min

1.14.1. Preparing the Balance Sheet3 min

1.14.2. Example13 min

1.14.3. Practice5 min

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

1.15.2. Example6 min

1.15.3. Practice6 min

1.16.1. The Purpose of a Statement of Cash Flows56 sec

1.17.1. Cash Flow Classification2 min

1.17.2. Example1 min

1.17.3. Practice2 min

1.17.4. Practice1 min

2. Recording Business Transactions

1.9hr

2.1.1. Qualitative Characteristics of Accounting Information2 min

2.1.2. Accounting Assumptions2 min

2.1.3. Accounting Principles52 sec

2.1.4. Practice2 min

2.2.1. The Accounting Cycle38 sec

2.3.1. Accounts33 sec

2.3.2. Naming Accounts4 min

2.3.3. Practice5 min

2.4.1. Business Transactions1 min

2.4.2. Practice2 min

2.5.1. The Accounting Equation2 min

2.5.2. The Expanded Accounting Equation2 min

2.5.3. Practice4 min

2.6.1. Debits and Credits3 min

2.6.2. Example5 min

2.6.3. Practice5 min

2.6.4. Practice3 min

2.7.1. Journal Entries1 min

2.7.2. Example5 min

2.7.3. Practice3 min

2.8.1. Issuing Shares3 min

2.8.2. Declaring and Paying Dividends2 min

2.8.3. Example2 min

2.8.4. Example2 min

2.8.5. Practice1 min

2.8.6. Practice2 min

2.9.1. Journalizing Revenues4 min

2.9.2. Example5 min

2.9.3. Practice3 min

2.9.4. Practice (Challenging)3 min

2.10.1. Journalizing Expenses2 min

2.10.2. Example4 min

2.10.3. Practice3 min

2.11.1. T-Accounts3 min

2.11.2. Example4 min

2.11.3. Practice4 min

2.11.4. Practice (Challenging)5 min

2.12.1. Trial Balance54 sec

2.12.2. Unadjusted Trial Balance1 min

2.12.3. Example10 min

2.12.4. Practice

3. Accruals and Financial Statements

1.8hr

3.I. The Adjustment Process60 sec

3.1.1. Accrual Basis vs Cash Basis Accounting60 sec

3.1.2. The Fiscal Year44 sec

3.2.1. How to Write an Adjusting Journal Entry3 min

3.2.2. Example4 min

3.2.3. Practice2 min

3.3.1. Accrued Expenses3 min

3.3.2. Example5 min

3.3.3. Practice2 min

3.3.4. Practice (Challenging)7 min

3.4.1. Deferred Expenses2 min

3.4.2. Example7 min

3.4.3. Practice3 min

3.4.4. Practice (Challenging)6 min

3.5.1. Accrued Revenues55 sec

3.5.2. Example2 min

3.5.3. Practice4 min

3.6.1. Deferred Revenues52 sec

3.6.2. Example4 min

3.6.3. Practice1 min

3.7.1. The Adjusted Trial Balance2 min

3.8.1. Preparing the Financial Statements2 min

3.8.3. Practice

3.9.1. Temporary and Permanent Accounts2 min

3.9.2. Closing Entries4 min

3.9.3. Post-Closing Trial Balance1 min

3.9.4. Example7 min

3.9.5. Practice6 min

3.10.1. Current Ratio2 min

3.10.2. Example55 sec

3.10.3. Practice2 min

3.11.1. Asset Turnover Ratio1 min

3.11.2. Example2 min

3.11.3. Practice2 min

3.12.1. Return on Assets2 min

3.12.2. Example2 min

3.12.3. Practice2 min

3.13.1. Return on Equity1 min

3.13.2. Example1 min

3.13.3. Practice1 min

3.14.1. Gross Profit Margin1 min

3.14.2. Profit Margin1 min

3.14.3. Example2 min

3.14.4. Practice1 min

4. Cash and Receivables

1.6hr

4.1.1. Internal Control2 min

4.1.2. Control Activities

4.2.1. Bank Reconciliation9 min

4.2.2. Example13 min

4.2.3. Practice11 min

4.3.1. Accounts Receivable1 min

4.4.1. Allowance for Doubtful Accounts4 min

4.5.1. Writing-off Accounts1 min

4.5.2. Example39 sec

4.5.3. Practice27 sec

4.6.1. Recovering Written-off Accounts56 sec

4.6.2. Example51 sec

4.6.3. Practice38 sec

4.7.1. Percentage of Receivables Method1 min

4.7.2. Example4 min

4.7.3. Example4 min

4.7.4. Practice3 min

4.7.5. Practice16 min

4.8.1. Receivables Turnover Ratio and Average Collection Period3 min

4.8.2. Example3 min

4.8.3. Practice4 min

4.9.1. Notes Receivable1 min

4.9.2. Example1 min

4.9.3. Practice1 min

4.10.1. Collecting a Note Receivable3 min

4.10.2. Example2 min

4.10.3. Practice3 min

5. Inventory and Cost of Goods Sold

2.8hr

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. Periodic Inventory System47 sec

5.8.1. Recording Purchases (Periodic)4 min

5.8.2. Example2 min

5.8.3. Practice4 min

5.9.1. Purchase Discounts (Periodic)3 min

5.9.2. Example2 min

5.9.3. Practice4 min

5.10.1. Purchase Returns and Allowances (Periodic)2 min

5.10.2. Example5 min

5.10.3. Practice3 min

5.11.1. Recording Sales (Periodic)2 min

5.11.2. Example3 min

5.11.3. Practice4 min

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

5.12.2. Example3 min

5.12.3. Practice4 min

5.13.1. Inventory2 min

5.14.1. Specific Identification1 min

5.14.2. Example3 min

5.14.3. Practice5 min

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

5.15.2. Example8 min

5.15.3. Practice4 min

5.16.1. Average Cost Method (Perpetual Inventory)3 min

5.16.2. Example9 min

5.16.3. Practice6 min

5.17.1. Average Cost Method (Periodic Inventory)1 min

5.17.2. Example5 min

5.17.3. Practice4 min

5.18.1. Effects of Costing Methods on Financial Position2 min

5.18.2. Practice3 min

5.19.1. Inventory Costing Methods3 min

5.19.2. Practice56 sec

5.20.1. Lower of Cost and Net Realizable Value3 min

5.20.2. Example4 min

5.20.3. Practice2 min

5.21.1. Inventory Turnover Ratio and Average Days to Sell2 min

5.21.2. Example2 min

5.21.3. Practice3 min

6. Property, Plant, and Equipment, and Intangible Assets

2.1hr

6.1.1. Property, Plant & Equipment1 min

6.2.1. Intangible Assets1 min

6.3.1. Acquisition Cost1 min

6.3.2. Example2 min

6.3.3. Practice1 min

6.4.1. Basket Purchases3 min

6.4.2. Example4 min

6.4.3. Practice5 min

6.5.1. Capital Expenditures vs Operating Expenses2 min

6.5.2. Example2 min

6.5.3. Practice

6.5.4. Practice2 min

6.6.1. Depreciation and Amortization4 min

6.6.2. Amortization Table44 sec

6.7.1. Straight-Line Method2 min

6.7.2. Example5 min

6.7.3. Example3 min

6.7.4. Practice3 min

6.7.5. Practice2 min

6.8.1. Double-Declining Balance Method4 min

6.8.2. Example2 min

6.8.3. Practice2 min

6.8.4. Practice6 min

6.9.1. Units of Production Method3 min

6.9.2. Example2 min

6.9.3. Practice2 min

6.9.4. Practice2 min

6.10.1. Changes in Estimates2 min

6.10.2. Example3 min

6.10.3. Example3 min

6.10.4. Practice5 min

6.10.5. Practice (Challenging)5 min

6.11.1. Disposal of Assets2 min

6.11.2. Example4 min

6.11.3. Practice6 min

6.12.1. Asset Impairment2 min

6.12.2. Example4 min

6.12.3. Practice3 min

6.13.1. Goodwill3 min

6.13.2. Example6 min

6.13.3. Example

6.13.4. Practice1 min

6.13.5. Practice3 min

6.14.1. Fixed Asset Turnover Ratio41 sec

6.14.2. Example2 min

6.14.3. Practice4 min

7. Liabilities

5hr

7.1.1. Accounts Payable2 min

7.1.2. Notes Payable3 min

7.1.3. Example5 min

7.1.4. Practice5 min

7.2.1. Current Portion of Long-term Debt2 min

7.2.2. Example4 min

7.2.3. Practice3 min

7.3.1. Uncertain Liabilities2 min

7.4.1. Payroll Liabilities5 min

7.4.2. Example4 min

7.4.3. Practice7 min

7.5.1. Sales Tax Liabilities3 min

7.5.2. Example3 min

7.5.3. Example3 min

7.5.4. Practice3 min

7.6.1. Warranties4 min

7.6.2. Example3 min

7.6.3. Practice2 min

7.6.4. Practice2 min

7.7.1. What is Deferred Income Tax?6 min

7.7.2. Example2 min

7.7.3. Practice6 min

7.7.4. Example7 min

7.7.5. Practice4 min

7.7.6. Practice7 min

7.8.1. What is a Bond?4 min

7.8.2. Coupon Payments3 min

7.8.3. Practice2 min

7.9.1. Bond Pricing7 min

7.9.2. Recording a Bond Issuance2 min

7.9.3. Example3 min

7.9.4. Example4 min

7.9.5. Example1 min

7.9.6. Practice9 min

7.9.7. Present Value Factor Tables

7.10.1. Interest Expense2 min

7.10.2. Bond Amortization Table3 min

7.10.3. Example6 min

7.10.4. Example6 min

7.10.5. Practice5 min

7.10.6. Practice5 min

7.11.1. Recording a Coupon Payment2 min

7.11.2. Example2 min

7.11.3. Example1 min

7.11.4. Example2 min

7.11.5. Practice3 min

7.11.6. Practice3 min

7.11.7. Practice1 min

7.12.1. Journal Entry: Interest Accrual5 min

7.12.2. Example5 min

7.12.3. Example5 min

7.12.4. Practice5 min

7.12.5. Practice3 min

7.13.1. Retirement of Bonds at Maturity46 sec

7.13.2. Example1 min

7.13.3. Practice41 sec

7.14.1. Bond Early Redemption6 min

7.14.2. Example17 min

7.14.3. Example4 min

7.14.4. Practice5 min

7.14.5. Practice17 min

7.15.1. Times-interest-earned Ratio1 min

7.15.2. Example1 min

7.15.3. Practice

7.16.1. Debt-to-Asset Ratio59 sec

7.16.2. Example2 min

7.16.3. Practice2 min

7.17.1. Bonds on the Balance Sheet1 min

7.17.2. Example8 min

7.17.3. Practice

7.18.1. Bonds on the Income Statement1 min

7.18.2. Example3 min

7.18.3. Practice4 min

8. Shareholders' Equity

1.1hr

8.1.1. Benefits of Share Ownership1 min

8.2.1. Common Shares3 min

8.2.2. Preferred Shares3 min

8.3.1. Status of Shares3 min

8.4.1. Issuing No-Par Value Shares1 min

8.4.2. Example3 min

8.4.3. Practice2 min

8.5.1. Why do Companies Repurchase Shares?2 min

8.6.1. Retiring No-Par Value Shares2 min

8.6.2. Example4 min

8.6.3. Practice4 min

8.7.1. Dividends44 sec

8.7.2. Dividend Dates4 min

8.7.3. Practice

8.8.1. Cash Dividends1 min

8.8.2. Example2 min

8.8.3. Example3 min

8.8.4. Practice5 min

8.9.1. Stock Dividends2 min

8.9.2. Example3 min

8.9.3. Example2 min

8.9.4. Practice2 min

8.9.5. Practice2 min

8.10.1. Stock Splits2 min

8.10.2. Example2 min

8.10.3. Practice2 min

8.10.4. Practice1 min

8.11.1. For US Schools and some Canadian schools (Concordia, UBC)2 min

8.11.2. New Practice Question2 min

8.12.1. Return on Equity1 min

8.12.2. Example1 min

8.12.3. Practice1 min

9. Financial Statement Analysis

57min

9.1.1. Horizontal Analysis30 sec

9.1.2. Example1 min

9.1.3. Practice42 sec

9.2.1. Vertical Analysis53 sec

9.2.2. Example1 min

9.2.3. Example46 sec

9.2.4. Practice52 sec

9.2.5. Practice48 sec

9.3.1. Ratio Analysis1 min

9.3.2. Practice1 min

9.4.1. Current Ratio2 min

9.4.2. Practice2 min

9.5.1. Quick Ratio (Acid Test)49 sec

9.5.2. Practice2 min

9.6.1. Inventory Turnover Ratio and Average Days to Sell2 min

9.6.2. Practice1 min

9.7.1. Receivables Turnover Ratio and Average Collection Period3 min

9.7.2. Practice1 min

9.8.1. Debt-to-Asset Ratio59 sec

9.8.2. Practice2 min

9.9.1. Times-interest-earned Ratio1 min

9.9.2. Practice3 min

9.10.1. Gross Profit Margin1 min

9.10.2. Profit Margin1 min

9.10.3. Example2 min

9.10.4. Practice1 min

9.11.1. Asset Turnover Ratio1 min

9.11.2. Example2 min

9.11.3. Practice2 min

9.12.1. Return on Assets2 min

9.12.2. Practice2 min

9.13.1. Return on Equity1 min

9.13.2. Example1 min

9.13.3. Practice1 min

9.14.1. Earnings per Share1 min

9.14.2. Earnings per Share1 min

9.14.3. Earnings per Share2 min

9.15.1. Price-Earnings Ratio2 min

9.15.2. Practice1 min

9.16.1. Dividend Yield1 min

9.16.2. Practice1 min

I Welcome

Free Activity

Welcome to the Wize Intro to Financial Accounting Course!
This course includes video tutorials and practice questions for most financial accounting concepts. This course is still in beta, meaning we need your help to make it even better! If you notice any missing topics or a topic that doesn't belong in this course, please let us know using the speech bubble in the bottom right corner of your screen.

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Use the "Ask a question"❓ feature below each lesson/question any time!

This resource includes the following activities: 
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Unanswered

Anonymous

Is there an exam prep for this course?

Unanswered

Anonymous

Does this course cover business 1229e

Answered

Anonymous

Does this course cover most of the topics in ACCTG 200?

S

Shahid S

i dont think so 

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