Accounting Essentials analysis for good and bad times

Accounting Essentials explores the fundamental and essential concepts and principles of accrual accounting. At the end of the four online sessions, participants will understand financial statement structure and composition, double entry accounting, the accounting equation, debits and credits, critical accounting principles, the effect of improperly recorded transactions, and the generation of the balance sheet and income statement from a series of recorded transactions over a finite time period.

Target Audience

Analysts and lenders with little if any accounting knowledge as well as more experienced analysts and lenders interested in an intensive review of accounting concepts, principles, and application.

View Details

Select the Show Details to view the product in more detail.

To view another College Series, click the Series name in the left panel

1. Financial Statement Structure and Composition
Thu. 10/27Recording

4.70 (715 reviews)
... first things first
In the first webinar session, participants review definitions for revenue, expense, asset, liability, and net worth accounts, examine a range of accounts in identifying income statement and balance sheet accounts, explore the rationale for the order of accounts on the income statement and balance sheet, and review the process of constructing both an income statement and balance sheet from scrambled accounts for a retailer and real estate property management company.
2. Double Entry Accounting, the Accounting Equation, and Debits and Credits
Thu. 11/3Recording

4.66 (581 reviews)
... keeping score in the business world
In the second webinar session, participants examine the purpose and use of double entry accounting, review the accounting equation and the impact of net income or loss on the accounting equation components, explore the purpose and use of debits and credits and the manner in which debits and credits impact accounts within the five accounting blocks, review the correct debit and credit entries for a range of transactions, and explore the use of T accounts in illustrating increases or decreases in account balances.
3. Critical Accounting Principles and Assumptions and More Debits and Credits
Thu. 11/10Recording

4.60 (314 reviews)
... principles to live by
In the third webinar session, participants examine the historic cost principle, the conservatism principle, the revenue recognition principle, the matching principle, and the going concern assumption. They explore the correct accounting entries to record bad debts, decreased asset values, and deferred revenue and revenue recognition. Further, participants examine the impact on bottom line profit from failure to correctly apply the matching principle and estimate likely income statement and balance sheet values in the absence of the going concern assumption.
4. Recording Transactions and Creating the Balance Sheet and Income Statement

4.61 (430 reviews)
... pulling it all together
In the fourth and final webinar session, participants examine the proper debit and credit entries to post 90 days of business transactions for both a retailer and real estate property management company, explore the benefits and possible pitfalls of the trial balances, review the use of general ledger entries to structure a balance sheet and income statement for the 90 day period in question, and address the interpretation of the resulting balance sheets and income statements.