Ch 3: Mechanics of the Accounting Cycle: Tutoring Solution

About This Chapter

The Mechanics of the Accounting Cycle chapter of this College Financial Accounting Tutoring Solution is a flexible and affordable path to learning about the accounting cycle's mechanics. These simple and fun video lessons are each about five minutes long and they teach all of the accounting cycle components and processes required in a typical college financial accounting course.

How it works:

  • Begin your assignment or other financial accounting work.
  • Identify the mechanics of the accounting cycle concepts that you're stuck on.
  • Find fun videos on the topics you need to understand.
  • Press play, watch and learn!
  • Complete the quizzes to test your understanding.
  • As needed, submit a question to one of our instructors for personalized support.

Who's it for?

This chapter of our college financial accounting tutoring solution will benefit any student who is trying to learn accounting cycle mechanics and earn better grades. This resource can help students including those who:

  • Struggle with understanding the accounting equation, debits and credits, journal entries or any other accounting cycle mechanics topic
  • Have limited time for studying
  • Want a cost effective way to supplement their accounting learning
  • Prefer learning accounting visually
  • Find themselves failing or close to failing their mechanics of the accounting cycle unit
  • Cope with ADD or ADHD
  • Want to get ahead in financial accounting
  • Don't have access to their accounting teacher outside of class

Why it works:

  • Engaging Tutors: We make learning accounting cycle mechanics simple and fun.
  • Cost Efficient: For less than 20% of the cost of a private tutor, you'll have unlimited access 24/7.
  • Consistent High Quality: Unlike a live financial accounting tutor, these video lessons are thoroughly reviewed.
  • Convenient: Imagine a tutor as portable as your laptop, tablet or smartphone. Learn the mechanics of the accounting cycle on the go!
  • Learn at Your Pace: You can pause and rewatch lessons as often as you'd like, until you master the material.

Learning Objectives

  • Identify the components of the accounting equation.
  • Describe the purpose of source documents in accounting.
  • Use the accounting equation to add expenses, revenues and dividends.
  • Learn how to categorize transactions using accounts.
  • Explain how to use ledgers and charts of accounts.
  • Understand the roles of debits and credits in accounting.
  • Learn how to record business transactions in accounting.
  • Use the accounting equation to analyze business transactions.
  • Discuss the procedure for computing and interpreting return on assets.
  • Understand how to use journal entries to record transactions and prepare trial balances.
  • Compute various financial statement ratios to determine company performance.

19 Lessons in Chapter 3: Mechanics of the Accounting Cycle: Tutoring Solution
Test your knowledge with a 30-question chapter practice test
The Accounting Equation: Definition & Components

1. The Accounting Equation: Definition & Components

There are a few basic building blocks that form the foundation of accounting. One of those is the accounting equation. In this lesson, you will learn what makes up the accounting equation, its purpose, and how it works.

Source Documents in Accounting: Definition and Purpose

2. Source Documents in Accounting: Definition and Purpose

Do you know what role source documents play in accounting? If not, don't worry; by the end of this lesson, you will. You will also learn the definition of source documents and see some common examples of source documents.

Using the Accounting Equation: Adding Revenues, Expenses & Dividends

3. Using the Accounting Equation: Adding Revenues, Expenses & Dividends

Accounting is built on a solid foundation called the basic accounting equation. In this lesson, you're going to learn what happens when you add revenue, expenses, and dividends to the basic equation.

What Are Accounts? - Definition and Use to Categorize Transactions

4. What Are Accounts? - Definition and Use to Categorize Transactions

Everything in this world is made up of parts. Accounting is no different. The numerous parts that exist in the accounting world are called accounts. In this lesson, you will learn what accounts are, how they are classified, and what they do.

Ledgers and Chart of Accounts: Definitions and Use

5. Ledgers and Chart of Accounts: Definitions and Use

There are several key concepts that are important to learn when it comes to accounting. In this lesson, you will learn about the ledger and the chart of accounts.

Understanding Debits and Credits in Accounting

6. Understanding Debits and Credits in Accounting

Debits and credits are major players in the accounting world. In this lesson, you will learn just what debits and credits are and why they are important to accounting.

Recording Business Transactions in Accounting

7. Recording Business Transactions in Accounting

Recording a transaction is the first step in the accounting cycle. In this lesson, you will learn why transactions are recorded, where they are recorded, and how they are recorded.

Using the Accounting Equation: Analyzing Business Transactions

8. Using the Accounting Equation: Analyzing Business Transactions

Transaction analysis can be a tricky task. In this lesson, you will learn what transaction analysis is, how to analyze a transaction, and how it is related to the accounting equation.

Computing and Interpreting Return on Assets

9. Computing and Interpreting Return on Assets

There are a number of ratios that can be calculated by information found on the financial statements. In this lesson, you will learn about return on assets.

Journal Entries and Trial Balance in Accounting

10. Journal Entries and Trial Balance in Accounting

There are several concepts that make up an accounting cycle. In this lesson, you will learn about two of those - journal entries and the trial balance.

Financial Statement Ratios: Determining Company Performance

11. Financial Statement Ratios: Determining Company Performance

Have you ever wondered why the financial statements are so important to a company? In this lesson, you will learn about several financial statement ratios and how they help determine company performance.

Treasury Stock: Definition, Accounting Method & Formula

12. Treasury Stock: Definition, Accounting Method & Formula

Treasury stock is a very special category of stock within the business world. Read this informative lesson to find out exactly what treasury stock is and how business managers and executives use it within their companies.

What is a Variable Annuity? - Definition, Pros & Cons

13. What is a Variable Annuity? - Definition, Pros & Cons

In this lesson we will look at how variable annuities serve as an option for retirement investing. We will also go over some of the key pros and cons of annuities compared to other types of investment accounts.

What is a Fixed Annuity? - Definition, Pros & Cons

14. What is a Fixed Annuity? - Definition, Pros & Cons

After reading this lesson, you will understand the type of customer that will want to purchase a fixed annuity. You'll also learn how a fixed annuity can give you a guaranteed income in your retirement.

What is a Hurdle Rate? - Definition & Formula

15. What is a Hurdle Rate? - Definition & Formula

Hurdles can be hard to cross sometimes, but they aren't always the kind you need to jump over! In this lesson, we will examine the concept of a hurdle rate and how companies use it to make informed decisions.

CAPE Ratio (Cyclically Adjusted Price-to-Earnings)

16. CAPE Ratio (Cyclically Adjusted Price-to-Earnings)

In this lesson, you will learn about the CAPE ratio - how it is calculated, who came up with it and how analysts use it to gauge whether the stock market is 'cheap' or 'expensive'.

General Ledger Reconciliation: Policy, Process & Examples

17. General Ledger Reconciliation: Policy, Process & Examples

In this lesson, you will learn about the general ledger reconciliation and its importance. You will also learn about common subsidiary ledgers and other documentation used in this process.

What is a Voucher Entry in Accounting?

18. What is a Voucher Entry in Accounting?

Read on to learn more about the voucher and voucher entry in accounting, how a voucher system works and the benefits of having a voucher system in the organization.

What are Journal Vouchers? - Definition & Examples

19. What are Journal Vouchers? - Definition & Examples

In this lesson you will learn about voucher systems and why they are used by companies. You will also learn about the documents typically used in a voucher system.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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