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- Explain the importance of periodic reporting in accounting.
- Discuss how accrual accounting can be used to make financial statements more useful.
- Compare and contrast cash-basis accounting and accrual accounting.
- Identify the different types of account adjustments and explain their purposes.
- Take a look at examples of accrued expenses and accrued revenues.
- Learn how to prepare an adjusted trial balance.
- Use adjusted trial balances to prepare financial statements.
- Differentiate between temporary and permanent accounts.
- Describe the major steps of the closing process in accounting.
- Discuss the differences between real and nominal accounts.
- Learn how to prepare a post-closing trial balance.
1. Periodic Reporting & the Time Period Principle
Time plays a very important role in accounting and financial reporting. In this lesson, you will learn why time is important as we discuss periodic reporting and the time period principle.
2. Using Accrual Accounting to Make Financial Statements More Useful
What is the relationship between the financial statements and accrual accounting? Do you know? By the time this lesson is over, you will not only know what the relationship is between the two but also why that relationship is important.
3. The Differences Between Accrual & Cash-Basis Accounting
There are two accounting methods that companies can choose from when deciding how they want their books done. They are cash basis and accrual basis. In this lesson, you will learn the differences between the two.
4. Account Adjustments: Types, Purpose & Their Link to Financial Statements
Accounting is a multi-step process. In this lesson, we will discuss adjusting entries. You will learn what they are, why they are important, and see examples.
5. Accrued Expenses & Revenues: Definition & Examples
Accruals are a part of the accounting world for most businesses. In this lesson, you will learn about two important parts of the concept of accruals: accrued revenue and accrued expenses.
6. Adjusted Trial Balance: Definition, Preparation & Example
There are many steps in the accounting cycle that must be taken before a company's financial statements are prepared. In this lesson, we will be discussing one of those steps - creating an adjusted trial balance.
7. Preparing Financial Statements
Financial statements are the most sought after reports in the financial industry. In this lesson, you will learn how to prepare them using information found on the adjusted trial balance.
8. Temporary & Permanent Accounts: Definition & Differences
Accounts are classified in a variety of ways in accounting. In this lesson, you will learn about two types of account classifications: temporary and permanent accounts.
9. Closing Entries: Process, Major Steps, Purpose & Objectives
The accounting cycle is a multi-step process. In this lesson, you will learn about part of that process: making closing entries. You will learn what closing entries are, what accounts are affected, and how they are made.
10. Real Accounts vs. Nominal Accounts: Definition, Differences & Examples
In accounting, there is a classification for everything. Transactions, financial statements, and accounts are broken down into classifications. In this lesson, we will be discussing two classifications of accounts - real accounts and nominal accounts.
11. Post-Closing Trial Balance: Preparation & Purpose
The last step in the accounting process is to create the post-closing trial balance. In this lesson, you will learn what the post-closing trial balance is, why it's important, and what accounts appear on it.
12. What is a Leveraged ETF? - Decay, Risk & Volatility
Leveraged ETFs are short-term trading vehicles that multiply the performance of their underlying index and can move wildly in any given trading session. Learn about leveraged ETFs and a few of the common risks associated with them.
13. What is an ETF? - Definition & Arbitrage
Exchange Traded Funds, or ETFs, have become a popular alternative to mutual funds for investors. Let's dig deeper into ETFs and the investment opportunities they create.
14. Regulatory Capture: Definition & Theory
In this lesson, you will learn the definition of regulatory capture and some of the reasons why it happens. You will also learn about regulator shopping and cultural capture.
15. Discounted Cash Flow Analysis
Discounted cash flows are used to evaluate investment opportunities. In this lesson, we will review the Net Present Value and Internal Rate of Return methods in evaluating projects and investments. We will also work through an example.
16. Scrip Dividend: Advantages & Disadvantages
In this lesson, we'll discuss what a SCRIP dividend is and what the advantages and disadvantages it has for both the shareholders and the issuing company.
17. Scrip Dividend vs. Stock Dividend
In this lesson, we'll compare scrip dividends with stock dividends. Both are common ways companies reward shareholders. We'll give the definition of each and explain the concepts through two scenarios.
18. What is a Scrip Dividend?
In this lesson, we'll discuss scrip dividends. We'll provide the definition, examples, and reasons why a company may elect to have a scrip dividend instead of a cash dividend.
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Other chapters within the Financial Accounting: Tutoring Solution course
- Introduction to Accounting: Tutoring Solution
- Financial Statements in Accounting: Tutoring Solution
- Mechanics of the Accounting Cycle: Tutoring Solution
- Internal Controls in Accounting: Tutoring Solution
- Merchandising Operations and Inventory in Accounting: Tutoring Solution
- Current and Long-Term Liabilities in Accounting: Tutoring Solution