Practical Accounting for Assets

Cash, Receivables, Inventory and Long-Term Assets begin with Ten Basic Transactions, Key Terms, Examples and Practice.
What you'll learn
Cash and Internal Controls
Receivables
Merchandise Inventory
Long-Term Assets
Requirements
No prior accounting experience required.
Description
Cash and Internal ControlsLearn why Cash is King, How Internal Controls Protect it and How it is Managed.- Principles, Analytics and Limitations of Internal Controls- Internal Controls for Cash Receipts (Collections) and Cash Held- Internal Controls for Cash Disbursements (Payments)- Bank Reconciliation - Who Knows? Example, Practice, Solution- Cash Management, Forecasting and Working Capital RatiosReceivablesLearn the Collect and Use for BAD BAD Debt transactions with the Allowance Method before the Lend transactions for Notes Receivables.- Overview of Key Issues and Terminology of Receivables- The Aging Schedule and the Allowance Method- Credit Cards and Factors- Notes Receivable Lend, Earn Interest and Collect- Receivables Management, Internal Controls and RatiosMerchandise InventoryExplore seven methods to calculate the Use of Inventory to Sell on One worksheet then with Practice before learning the associated management, valuation and reporting issues.- Overview of Key Issues and Terminology of Merchandise Inventory- Perpetual vs. Periodic Inventory Systems- Specific Identification- FIFO Periodic and LIFO Periodic & Perpetual- Average Cost Periodic and Perpetual- FIFO and LIFO Layers - Multiple Unit Purchases and Sales- Management and Financial Statement TopicsLong-Term AssetsLearn the how to buy then three methods to use long-term assets by depreciating their cost over their useful life.- Overview of Key Issues and Terminology of Long-Term Assets- Acquiring (Buying) a Long-Term Asset- Straight Line Depreciation- Declining Balance Depreciation- Activity Based Depreciation and Depletion- Selling Long-Term Assets- Intangible Assets- Management, Internal Controls and Ratios- Changes to Long-Term Assets - Useful Life, Impairing, Errors
Who this course is for
Businesses, Financial Accounting students and individuals interested in accounting.
Homepage

https://www.udemy.com/course/practical-accounting-for-assets/

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