Course content

90 lessons

1.1-1.2 · What accounting is for, and the accounting equation

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2.1 · Double entry: the two sides of every transaction

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2.2-2.3 · Books of prime entry: list first, then post

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3.1-3.2 · The trial balance

0/7

3.3 · Bank reconciliation

0/9

3.4 · Sales and purchases ledger control accounts

0/9

5.1 · The income statement: working out profit

0/9

5.1 · The statement of financial position

0/9

4.1-4.5 · Year-end adjustments

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Straight-line depreciation

Reducing-balance depreciation

Disposal of a non-current asset

Accrued expenses

Prepaid expenses

Income earned is not always cash received

Irrecoverable debts

The allowance for irrecoverable debts

Inventory at the lower of cost and net realisable value

Putting the adjustments together

10m

The year-end sprint

Exam practice: a new business

10m

Year-end adjustments: quick revision

4.1-4.5 · Year-end adjustmentsLesson 2 of 15Free preview

Why depreciation exists

The van earns money for four years. See what happens to profit if its cost is dumped on Year 1 instead of spread.