About This Chapter
Who's It For?
Anyone who needs help learning or mastering adjusting accounts and preparing financial statements material will benefit from the lessons in this chapter. There is no faster or easier way to learn about these accounting topics. Among those who would benefit are:
- Students who have fallen behind in understanding the types of adjustments that can be made on a financial statement and how accrual accounting works
- Students who struggle with learning disabilities or learning differences, including autism and ADHD
- Students who prefer multiple ways of learning financial accounting (visual or auditory)
- Students who have missed class time and need to catch up
- Students who need an efficient way to learn about adjusting accounts and preparing financial statements
- Students who struggle to understand their teachers
- Students who attend schools without extra financial accounting learning resources
How It Works:
- Find videos in our course that cover what you need to learn or review.
- Press play and watch the video lesson.
- Refer to the video transcripts to reinforce your learning.
- Test your understanding of each lesson with short quizzes.
- Verify you're ready by completing the Adjusting Accounts and Preparing Financial Statements chapter exam.
Why It Works:
- Study Efficiently: Skip what you know, review what you don't.
- Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
- Be Ready on Test Day: Use the adjusting accounts and preparing financial statements chapter exam to be prepared.
- Get Extra Support: Ask our subject-matter experts any adjusting accounts and preparing financial statements question. They're here to help!
- Study With Flexibility: Watch videos on any web-ready device.
Students Will Review:
This chapter helps students review the concepts in an adjusting accounts and preparing financial statements unit of a standard financial accounting course. Topics covered include:
- Principles of financial accounting
- Periodic reporting standards
- The benefits of accrual accounting
- Cash-basis accounting compared to accrual accounting
- Different kinds of account adjustments and their uses
- Accrued revenues and expenses
- The preparation process of adjusted trial balance
- Techniques for financial statement preparation
- Permanent and temporary accounts
- The main steps and processes for closing entries
- Nominal accounts vs. real accounts
- Post-closing trial balance calculations
1. Compound Growth: Definition & Formula
Are you looking at a series of volatile annual sales numbers for a company and trying to find a way to make sense of it all? Using the formula for compound annual growth rate can help you answer these and other questions.
2. Principal Amount: Definition & Formula
In this lesson, you will learn the definition of principal amount. We will look at formulas and examples that will help you to calculate principal amounts of loans and accounts. You can then take a brief quiz to test what you learned.
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Other chapters within the Financial Accounting: Help and Review course
- Introduction to Accounting: Help and Review
- Financial Statements in Accounting: Help and Review
- Mechanics of the Accounting Cycle: Help and Review
- Project Evaluation & Analysis
- Preparing Financial Statements: Help and Review
- Internal Controls in Accounting: Help and Review
- Merchandising Operations and Inventory in Accounting: Help and Review
- Current and Long-Term Liabilities in Accounting: Help and Review
- Taxation of Business Entities
- Accounting Changes & Errors
- Classifying Costs in Accounting
- Cost Accounting Methods
- Cash Flow Statements & Disclosures
- Asset & Inventory Management
- Small Business Financing
- Small Business Accounting
- Financial Reporting
- Banking, Insurance & Monetary Policy
- Types of Financial Risk
- Credit Risk
- Derivatives in Finance Overview
- Capital Markets in Risk Management
- Managing Financial Risk
- Financial Risk & Decision-Making