Financial Accounting – Subsidiary Ledgers & Special Journals

  • Course provided by Udemy
  • Study type: Online
  • Starts: Anytime
  • Price: See latest price on Udemy
Udemy

Course Description

We record transactions using special journals and track accounts receivable by customer and accounts payable by vendor using subsidiary ledger.

We should have a good understanding of debits and credits before this course and we have courses covering debits and credits. We can construct an accounting system where we record every financial transaction using debits and credits in a general journal, posting each journal entry to the general ledger, making the trial balance form the general ledger, and the financial statements from the trial balance. The process of recording every transaction using debits and credits is the process we have used in the past.

To reduce the amount of data input when using a manual system, we can group transactions by transaction type and create special journals to record them. An accounting system using special journals can reduce data input by limiting the amount data needed to be input for each transaction due to the format of the special journal. Special journals can also eliminate the need to post each transaction to the general ledger. Rather than posting each transaction to the general ledger special journals are added up at the end of the period and one transaction is then posted for the entire period.

Special journals are typically used in a manual system but understanding them helps any system because it helps to see what components of an accounting system are necessary to all accounting systems, which components can be changed, and when changing the format of the system would be beneficial. Automated systems also often general useful reports in a similar format as the special journals.

Subsidiary ledgers for accounts receivable and accounts payable are necessary for any system where we make sales on account and purchases on account. In other words, if we make sales and collect money at a later date, we will need to track who owes us money, and if we make purchases and pay at a later date, we will need to track who we owe money to.

In addition to instructional video, this course will include downloadable

• Downloadable PDF Files

• Excel Practice Files

• Multiple Choice Practice Questions

• Short Calculation Practice Questions

• Discussion Questions

The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.

Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.

Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions.

Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions.

Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.

Who will we be learning from?

You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.

You will be learning from somebody who is a:

• CPA – Certified Public Accountant

• CGMA – Chartered Global Management Accountant

• Master of Science in Taxation

• CPS – Certifies Post-Secondary Instructor

• Curriculum Development Export

As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.

The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.

Content Includes:

  • Accounts receivable subsidiary ledger
  • Accounts payable subsidiary ledger
  • Special journals
  • Sales journal
  • Purchases journal
  • Cash receipts journal
  • Cash payment journal
  • Accounting Cycle
  • Comprehensive problem
  • Excel
  • Definitions and key term

Who this course is for:

  • Accounting students
  • Business owner
  • Anyone who whats to learn accounting
  • Special Journals Sales Journal Purchases Journal Cash Receipts Journal Cash Payments Journal Excel Accounting Cycle Curated for the Udemy Business collection Requirements We should have a basic understanding of financial accounting and debits and credits. Description We record transactions using special journals and track accounts receivable by customer and accounts payable by vendor using subsidiary ledger. We should have a good understanding of debits and credits before this course and we have courses covering debits and credits. We can construct an accounting system where we record every financial transaction using debits and credits in a general journal, posting each journal entry to the general ledger, making the trial balance form the general ledger, and the financial statements from the trial balance. The process of recording every transaction using debits and credits is the process we have used in the past. To reduce the amount of data input when using a manual system, we can group transactions by transaction type and create special journals to record them. An accounting system using special journals can reduce data input by limiting the amount data needed to be input for each transaction due to the format of the special journal. Special journals can also eliminate the need to post each transaction to the general ledger. Rather than posting each transaction to the general ledger special journals are added up at the end of the period and one transaction is then posted for the entire period. Special journals are typically used in a manual system but understanding them helps any system because it helps to see what components of an accounting system are necessary to all accounting systems, which components can be changed, and when changing the format of the system would be beneficial. Automated systems also often general useful reports in a similar format as the special journals. Subsidiary ledgers for accounts receivable and accounts payable are necessary for any system where we make sales on account and purchases on account. In other words, if we make sales and collect money at a later date, we will need to track who owes us money, and if we make purchases and pay at a later date, we will need to track who we owe money to. In addition to instructional video, this course will include downloadable • Downloadable PDF Files • Excel Practice Files • Multiple Choice Practice Questions • Short Calculation Practice Questions • Discussion Questions The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material. Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships. Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions. Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions. Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints. Who will we be learning from? You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum. You will be learning from somebody who is a: • CPA – Certified Public Accountant • CGMA – Chartered Global Management Accountant • Master of Science in Taxation • CPS – Certifies Post-Secondary Instructor • Curriculum Development Export As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels. As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications. The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro. Content Includes: Accounts receivable subsidiary ledger Accounts payable subsidiary ledger Special journals Sales journal Purchases journal Cash receipts journal Cash payment journal Accounting Cycle Comprehensive problem Excel Definitions and key term Who this course is for: Accounting students Business owner Anyone who whats to learn accounting Show more Show less Course content 9 sections • 79 lectures • 11h 44m total length Expand all sections Introduction 4 lectures • 26min Introduction Preview 09:53 PDF - Special Journals & Subsidiary Ledgers Preview 00:08 2 Special Journals Subsidiary Ledgers Preview 16:02 Accounting Comic Break 00:15 Accounts Receivable Subsidiary Ledger 7 lectures • 42min PDF - 5 AR subsidiary ledgers D & D new Preview 00:08 5 Accounts Receivable AR Subsidiary Ledger Explainedv 09:00 Excel Worksheet 00:05 Worksheet - Accounts Receivable Subsidiary Ledger 700 Part 1- 12:31 700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructions 11:58 Discussion Question 1 - Subsidiary Ledgers 1 question Multiple Choice Question 1 - Special Journals Preview 08:13 Accounting Comic Break 00:14 Accounts Payable Subsidiary Ledger 7 lectures • 43min PDF - 6 AP subsidiary ledgers D & D New 00:08 6 Accounts Payable AP Subsidiary Ledger Preview 07:52 Excel Download 00:05 Worksheet - Accounts payable subsidiary ledger 12:31 700.10 Accounts payable subsidiary ledger 700 part 2-Accounting%2C Financial 13:35 Discussion Question 2 - Subsidiary Ledgers 1 question Multiple Choice Question 2 - Special Journals 08:27 Accounting Comic Break 00:15 Sales Journal 11 lectures • 1hr 8min Sales Journal 01:18 PDF - 10 Sales Journal Service Company 00:08 10 Sales Journal Service Company 09:16 Excel Worksheet 00:05 Worksheet - Sales Journal 19:13 PDF - 20 Sales Journal Merchandising Co 00:08 20 Sales Journal Merchandising Co. 10:39 Excel Worksheet 00:05 5 Worksheet - Sales Journal Inventory 17:16 Discussion Question 3 - Subsidiary Ledgers 1 question Multiple Choice Question 3 - Special Journals 10:00 Accounting Comic Break 00:15 Purchases Journal 11 lectures • 1hr 10min Purchases Journal 01:04 PDF - 30 Purchases Journal Service Company 00:08 30 Purchases Journal Service Company 10:29 Excel Worksheet 00:05 6 Worksheet - Purchases Journal 23:02 PDF - 33 Purchases Journal Inventory 00:08 33 Purchase Journal Merchandising Co. 09:26 Excel Worksheet 00:05 Worksheet Purchases Journal 13:38 Discussion Question 4 - Subsidiary Ledgers 1 question Multiple Choice Question 4 - Special Journals 11:32 Accounting Comic Break 00:15 Cash Receipts Journal 7 lectures • 1hr 4min Cash Receipts Journal 01:17 PDF - 40 Cash Receipts Journal 00:08 40 Cash Receipts Journal 18:59 Excel Worksheet 00:05 Worksheet - Cash Receipts Journal 33:51 Discussion Question 5 - Subsidiary Ledgers 1 question Multiple Choice Question 5 - Special Journals 09:53 Accounting Comic Break 00:15 Cash Payments Journal 8 lectures • 1hr 10min Cash Payments Journal 01:22 PDF - 50 Cash Payment Journal 00:08 50 Cash Payments Journal Service Company 13:40 Excel Worksheet 00:05 4 Worksheet Cash Payment Journal 27:39 Discussion Question 6 - Subsidiary Ledgers 1 question Multiple Choice Question 6 - Special Journals 10:39 700 CPA Exam Part 1 Subsidiary ledgers %26 special journals - CPA exam %26 other 16:35 Accounting Comic Break 00:15 Comprehensive Problem 11 lectures • 3hr 32min Comprehensive Problem 02:05 Excel Worksheet 00:05 Comprehensive Problem Special Journals Part 1 27:50 Comprehensive Problem Special Journals Part 2 25:02 Comprehensive Problem Special Journals Part 3 30:37 Comprehensive Problem Special Journals Part 4 31:26 Comprehensive Problem Special Journals Part 5 Adjusting Entries 27:55 Comprehensive Problem Special Journals Part 6 Financial Statements 43:32 Comprehensive Problem Special Journals Part 7 Closing Process 16:55 Multiple Choice Question 7 - Special Journals 06:24 Accounting Comic Break 00:15 Definitions & Key Terms 13 lectures • 38min Accounts Payable Ledger Definition - What is the Accounts Pa 02:38 Accounts Receivable Ledger - What is Accounts Receivable Led 02:07 Cash Disbursements Journal - What is Cash Disbursements Jour 03:37 Check Register Definition - What is Check Register%3F 02:39 Compatibility Principle Definition - What is Compatibility P 02:01 Controlling Account Definition - What is Controlling Account 03:28 Cost Benefit Principle definition - What is the Cost Benefit Principle%3F 03:41 General Ledger Definition What is General Ledger%3F 02:36 Purchase Requisition Definition - What is Purchase Requisition%3F 01:44 Sales Journal Definition - What is Sales Journal%3F (1) 03:11 Subsidiary Ledger Definition - What is Subsidiary Ledger%3F 03:17 Multiple Choice Question 8 - Special Journals 06:58 Accounting Comic Break 00:15 Instructor Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI 4.4 Instructor Rating 19,840 Reviews 429,613 Students 113 Courses Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his. Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA). Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software. In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible. Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks. Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business. Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster. Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts. The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video. Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy. Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? '' : 'checked'; var radios = document.querySelectorAll('[name="' + input.dataset.name + '"]'); for (var i = 0; i (function(){window['__CF$cv$params']={r:'677b28c2bc91544c',m:'116cbcf85811ec0071f4e693e160c4c1c7077195-1627779938-1800-ATgBEBW6C4RmxohSQiUy1lscWrIp9dxhnB0XJ+mTiyXGSaxSEKNBXeos0rCjchkDVqZ4U2CBgATVRxancpDhWmbKnr4+wgYffLoI5Z/CsVOdeZVCfxzKF6ORvqclLlTL7tJO82fyQfnR3rK1jM0ouaaDoXpH2CFNJ0/te2XhTEvVTO/f+u65IpcQAnkxTp3XO2xJvFKZiguYWf/5Cocm74s=',s:[0x0f329a7151,0xade27179e1],}})();
  • Sales Journal Purchases Journal Cash Receipts Journal Cash Payments Journal Excel Accounting Cycle Curated for the Udemy Business collection Requirements We should have a basic understanding of financial accounting and debits and credits. Description We record transactions using special journals and track accounts receivable by customer and accounts payable by vendor using subsidiary ledger. We should have a good understanding of debits and credits before this course and we have courses covering debits and credits. We can construct an accounting system where we record every financial transaction using debits and credits in a general journal, posting each journal entry to the general ledger, making the trial balance form the general ledger, and the financial statements from the trial balance. The process of recording every transaction using debits and credits is the process we have used in the past. To reduce the amount of data input when using a manual system, we can group transactions by transaction type and create special journals to record them. An accounting system using special journals can reduce data input by limiting the amount data needed to be input for each transaction due to the format of the special journal. Special journals can also eliminate the need to post each transaction to the general ledger. Rather than posting each transaction to the general ledger special journals are added up at the end of the period and one transaction is then posted for the entire period. Special journals are typically used in a manual system but understanding them helps any system because it helps to see what components of an accounting system are necessary to all accounting systems, which components can be changed, and when changing the format of the system would be beneficial. Automated systems also often general useful reports in a similar format as the special journals. Subsidiary ledgers for accounts receivable and accounts payable are necessary for any system where we make sales on account and purchases on account. In other words, if we make sales and collect money at a later date, we will need to track who owes us money, and if we make purchases and pay at a later date, we will need to track who we owe money to. In addition to instructional video, this course will include downloadable • Downloadable PDF Files • Excel Practice Files • Multiple Choice Practice Questions • Short Calculation Practice Questions • Discussion Questions The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material. Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships. Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions. Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions. Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints. Who will we be learning from? You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum. You will be learning from somebody who is a: • CPA – Certified Public Accountant • CGMA – Chartered Global Management Accountant • Master of Science in Taxation • CPS – Certifies Post-Secondary Instructor • Curriculum Development Export As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels. As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications. The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro. Content Includes: Accounts receivable subsidiary ledger Accounts payable subsidiary ledger Special journals Sales journal Purchases journal Cash receipts journal Cash payment journal Accounting Cycle Comprehensive problem Excel Definitions and key term Who this course is for: Accounting students Business owner Anyone who whats to learn accounting Show more Show less Course content 9 sections • 79 lectures • 11h 44m total length Expand all sections Introduction 4 lectures • 26min Introduction Preview 09:53 PDF - Special Journals & Subsidiary Ledgers Preview 00:08 2 Special Journals Subsidiary Ledgers Preview 16:02 Accounting Comic Break 00:15 Accounts Receivable Subsidiary Ledger 7 lectures • 42min PDF - 5 AR subsidiary ledgers D & D new Preview 00:08 5 Accounts Receivable AR Subsidiary Ledger Explainedv 09:00 Excel Worksheet 00:05 Worksheet - Accounts Receivable Subsidiary Ledger 700 Part 1- 12:31 700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructions 11:58 Discussion Question 1 - Subsidiary Ledgers 1 question Multiple Choice Question 1 - Special Journals Preview 08:13 Accounting Comic Break 00:14 Accounts Payable Subsidiary Ledger 7 lectures • 43min PDF - 6 AP subsidiary ledgers D & D New 00:08 6 Accounts Payable AP Subsidiary Ledger Preview 07:52 Excel Download 00:05 Worksheet - Accounts payable subsidiary ledger 12:31 700.10 Accounts payable subsidiary ledger 700 part 2-Accounting%2C Financial 13:35 Discussion Question 2 - Subsidiary Ledgers 1 question Multiple Choice Question 2 - Special Journals 08:27 Accounting Comic Break 00:15 Sales Journal 11 lectures • 1hr 8min Sales Journal 01:18 PDF - 10 Sales Journal Service Company 00:08 10 Sales Journal Service Company 09:16 Excel Worksheet 00:05 Worksheet - Sales Journal 19:13 PDF - 20 Sales Journal Merchandising Co 00:08 20 Sales Journal Merchandising Co. 10:39 Excel Worksheet 00:05 5 Worksheet - Sales Journal Inventory 17:16 Discussion Question 3 - Subsidiary Ledgers 1 question Multiple Choice Question 3 - Special Journals 10:00 Accounting Comic Break 00:15 Purchases Journal 11 lectures • 1hr 10min Purchases Journal 01:04 PDF - 30 Purchases Journal Service Company 00:08 30 Purchases Journal Service Company 10:29 Excel Worksheet 00:05 6 Worksheet - Purchases Journal 23:02 PDF - 33 Purchases Journal Inventory 00:08 33 Purchase Journal Merchandising Co. 09:26 Excel Worksheet 00:05 Worksheet Purchases Journal 13:38 Discussion Question 4 - Subsidiary Ledgers 1 question Multiple Choice Question 4 - Special Journals 11:32 Accounting Comic Break 00:15 Cash Receipts Journal 7 lectures • 1hr 4min Cash Receipts Journal 01:17 PDF - 40 Cash Receipts Journal 00:08 40 Cash Receipts Journal 18:59 Excel Worksheet 00:05 Worksheet - Cash Receipts Journal 33:51 Discussion Question 5 - Subsidiary Ledgers 1 question Multiple Choice Question 5 - Special Journals 09:53 Accounting Comic Break 00:15 Cash Payments Journal 8 lectures • 1hr 10min Cash Payments Journal 01:22 PDF - 50 Cash Payment Journal 00:08 50 Cash Payments Journal Service Company 13:40 Excel Worksheet 00:05 4 Worksheet Cash Payment Journal 27:39 Discussion Question 6 - Subsidiary Ledgers 1 question Multiple Choice Question 6 - Special Journals 10:39 700 CPA Exam Part 1 Subsidiary ledgers %26 special journals - CPA exam %26 other 16:35 Accounting Comic Break 00:15 Comprehensive Problem 11 lectures • 3hr 32min Comprehensive Problem 02:05 Excel Worksheet 00:05 Comprehensive Problem Special Journals Part 1 27:50 Comprehensive Problem Special Journals Part 2 25:02 Comprehensive Problem Special Journals Part 3 30:37 Comprehensive Problem Special Journals Part 4 31:26 Comprehensive Problem Special Journals Part 5 Adjusting Entries 27:55 Comprehensive Problem Special Journals Part 6 Financial Statements 43:32 Comprehensive Problem Special Journals Part 7 Closing Process 16:55 Multiple Choice Question 7 - Special Journals 06:24 Accounting Comic Break 00:15 Definitions & Key Terms 13 lectures • 38min Accounts Payable Ledger Definition - What is the Accounts Pa 02:38 Accounts Receivable Ledger - What is Accounts Receivable Led 02:07 Cash Disbursements Journal - What is Cash Disbursements Jour 03:37 Check Register Definition - What is Check Register%3F 02:39 Compatibility Principle Definition - What is Compatibility P 02:01 Controlling Account Definition - What is Controlling Account 03:28 Cost Benefit Principle definition - What is the Cost Benefit Principle%3F 03:41 General Ledger Definition What is General Ledger%3F 02:36 Purchase Requisition Definition - What is Purchase Requisition%3F 01:44 Sales Journal Definition - What is Sales Journal%3F (1) 03:11 Subsidiary Ledger Definition - What is Subsidiary Ledger%3F 03:17 Multiple Choice Question 8 - Special Journals 06:58 Accounting Comic Break 00:15 Instructor Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI 4.4 Instructor Rating 19,840 Reviews 429,613 Students 113 Courses Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his. Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA). Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software. In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible. Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks. Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business. Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster. Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts. The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video. Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy. Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? 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  • Purchases Journal Cash Receipts Journal Cash Payments Journal Excel Accounting Cycle Curated for the Udemy Business collection Requirements We should have a basic understanding of financial accounting and debits and credits. Description We record transactions using special journals and track accounts receivable by customer and accounts payable by vendor using subsidiary ledger. We should have a good understanding of debits and credits before this course and we have courses covering debits and credits. We can construct an accounting system where we record every financial transaction using debits and credits in a general journal, posting each journal entry to the general ledger, making the trial balance form the general ledger, and the financial statements from the trial balance. The process of recording every transaction using debits and credits is the process we have used in the past. To reduce the amount of data input when using a manual system, we can group transactions by transaction type and create special journals to record them. An accounting system using special journals can reduce data input by limiting the amount data needed to be input for each transaction due to the format of the special journal. Special journals can also eliminate the need to post each transaction to the general ledger. Rather than posting each transaction to the general ledger special journals are added up at the end of the period and one transaction is then posted for the entire period. Special journals are typically used in a manual system but understanding them helps any system because it helps to see what components of an accounting system are necessary to all accounting systems, which components can be changed, and when changing the format of the system would be beneficial. Automated systems also often general useful reports in a similar format as the special journals. Subsidiary ledgers for accounts receivable and accounts payable are necessary for any system where we make sales on account and purchases on account. In other words, if we make sales and collect money at a later date, we will need to track who owes us money, and if we make purchases and pay at a later date, we will need to track who we owe money to. In addition to instructional video, this course will include downloadable • Downloadable PDF Files • Excel Practice Files • Multiple Choice Practice Questions • Short Calculation Practice Questions • Discussion Questions The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material. Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships. Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions. Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions. Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints. Who will we be learning from? You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum. You will be learning from somebody who is a: • CPA – Certified Public Accountant • CGMA – Chartered Global Management Accountant • Master of Science in Taxation • CPS – Certifies Post-Secondary Instructor • Curriculum Development Export As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels. As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications. The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro. Content Includes: Accounts receivable subsidiary ledger Accounts payable subsidiary ledger Special journals Sales journal Purchases journal Cash receipts journal Cash payment journal Accounting Cycle Comprehensive problem Excel Definitions and key term Who this course is for: Accounting students Business owner Anyone who whats to learn accounting Show more Show less Course content 9 sections • 79 lectures • 11h 44m total length Expand all sections Introduction 4 lectures • 26min Introduction Preview 09:53 PDF - Special Journals & Subsidiary Ledgers Preview 00:08 2 Special Journals Subsidiary Ledgers Preview 16:02 Accounting Comic Break 00:15 Accounts Receivable Subsidiary Ledger 7 lectures • 42min PDF - 5 AR subsidiary ledgers D & D new Preview 00:08 5 Accounts Receivable AR Subsidiary Ledger Explainedv 09:00 Excel Worksheet 00:05 Worksheet - Accounts Receivable Subsidiary Ledger 700 Part 1- 12:31 700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructions 11:58 Discussion Question 1 - Subsidiary Ledgers 1 question Multiple Choice Question 1 - Special Journals Preview 08:13 Accounting Comic Break 00:14 Accounts Payable Subsidiary Ledger 7 lectures • 43min PDF - 6 AP subsidiary ledgers D & D New 00:08 6 Accounts Payable AP Subsidiary Ledger Preview 07:52 Excel Download 00:05 Worksheet - Accounts payable subsidiary ledger 12:31 700.10 Accounts payable subsidiary ledger 700 part 2-Accounting%2C Financial 13:35 Discussion Question 2 - Subsidiary Ledgers 1 question Multiple Choice Question 2 - Special Journals 08:27 Accounting Comic Break 00:15 Sales Journal 11 lectures • 1hr 8min Sales Journal 01:18 PDF - 10 Sales Journal Service Company 00:08 10 Sales Journal Service Company 09:16 Excel Worksheet 00:05 Worksheet - Sales Journal 19:13 PDF - 20 Sales Journal Merchandising Co 00:08 20 Sales Journal Merchandising Co. 10:39 Excel Worksheet 00:05 5 Worksheet - Sales Journal Inventory 17:16 Discussion Question 3 - Subsidiary Ledgers 1 question Multiple Choice Question 3 - Special Journals 10:00 Accounting Comic Break 00:15 Purchases Journal 11 lectures • 1hr 10min Purchases Journal 01:04 PDF - 30 Purchases Journal Service Company 00:08 30 Purchases Journal Service Company 10:29 Excel Worksheet 00:05 6 Worksheet - Purchases Journal 23:02 PDF - 33 Purchases Journal Inventory 00:08 33 Purchase Journal Merchandising Co. 09:26 Excel Worksheet 00:05 Worksheet Purchases Journal 13:38 Discussion Question 4 - Subsidiary Ledgers 1 question Multiple Choice Question 4 - Special Journals 11:32 Accounting Comic Break 00:15 Cash Receipts Journal 7 lectures • 1hr 4min Cash Receipts Journal 01:17 PDF - 40 Cash Receipts Journal 00:08 40 Cash Receipts Journal 18:59 Excel Worksheet 00:05 Worksheet - Cash Receipts Journal 33:51 Discussion Question 5 - Subsidiary Ledgers 1 question Multiple Choice Question 5 - Special Journals 09:53 Accounting Comic Break 00:15 Cash Payments Journal 8 lectures • 1hr 10min Cash Payments Journal 01:22 PDF - 50 Cash Payment Journal 00:08 50 Cash Payments Journal Service Company 13:40 Excel Worksheet 00:05 4 Worksheet Cash Payment Journal 27:39 Discussion Question 6 - Subsidiary Ledgers 1 question Multiple Choice Question 6 - Special Journals 10:39 700 CPA Exam Part 1 Subsidiary ledgers %26 special journals - CPA exam %26 other 16:35 Accounting Comic Break 00:15 Comprehensive Problem 11 lectures • 3hr 32min Comprehensive Problem 02:05 Excel Worksheet 00:05 Comprehensive Problem Special Journals Part 1 27:50 Comprehensive Problem Special Journals Part 2 25:02 Comprehensive Problem Special Journals Part 3 30:37 Comprehensive Problem Special Journals Part 4 31:26 Comprehensive Problem Special Journals Part 5 Adjusting Entries 27:55 Comprehensive Problem Special Journals Part 6 Financial Statements 43:32 Comprehensive Problem Special Journals Part 7 Closing Process 16:55 Multiple Choice Question 7 - Special Journals 06:24 Accounting Comic Break 00:15 Definitions & Key Terms 13 lectures • 38min Accounts Payable Ledger Definition - What is the Accounts Pa 02:38 Accounts Receivable Ledger - What is Accounts Receivable Led 02:07 Cash Disbursements Journal - What is Cash Disbursements Jour 03:37 Check Register Definition - What is Check Register%3F 02:39 Compatibility Principle Definition - What is Compatibility P 02:01 Controlling Account Definition - What is Controlling Account 03:28 Cost Benefit Principle definition - What is the Cost Benefit Principle%3F 03:41 General Ledger Definition What is General Ledger%3F 02:36 Purchase Requisition Definition - What is Purchase Requisition%3F 01:44 Sales Journal Definition - What is Sales Journal%3F (1) 03:11 Subsidiary Ledger Definition - What is Subsidiary Ledger%3F 03:17 Multiple Choice Question 8 - Special Journals 06:58 Accounting Comic Break 00:15 Instructor Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI 4.4 Instructor Rating 19,840 Reviews 429,613 Students 113 Courses Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his. Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA). Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software. In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible. Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks. Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business. Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster. Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts. The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video. Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy. Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? 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  • Cash Receipts Journal Cash Payments Journal Excel Accounting Cycle Curated for the Udemy Business collection Requirements We should have a basic understanding of financial accounting and debits and credits. Description We record transactions using special journals and track accounts receivable by customer and accounts payable by vendor using subsidiary ledger. We should have a good understanding of debits and credits before this course and we have courses covering debits and credits. We can construct an accounting system where we record every financial transaction using debits and credits in a general journal, posting each journal entry to the general ledger, making the trial balance form the general ledger, and the financial statements from the trial balance. The process of recording every transaction using debits and credits is the process we have used in the past. To reduce the amount of data input when using a manual system, we can group transactions by transaction type and create special journals to record them. An accounting system using special journals can reduce data input by limiting the amount data needed to be input for each transaction due to the format of the special journal. Special journals can also eliminate the need to post each transaction to the general ledger. Rather than posting each transaction to the general ledger special journals are added up at the end of the period and one transaction is then posted for the entire period. Special journals are typically used in a manual system but understanding them helps any system because it helps to see what components of an accounting system are necessary to all accounting systems, which components can be changed, and when changing the format of the system would be beneficial. Automated systems also often general useful reports in a similar format as the special journals. Subsidiary ledgers for accounts receivable and accounts payable are necessary for any system where we make sales on account and purchases on account. In other words, if we make sales and collect money at a later date, we will need to track who owes us money, and if we make purchases and pay at a later date, we will need to track who we owe money to. In addition to instructional video, this course will include downloadable • Downloadable PDF Files • Excel Practice Files • Multiple Choice Practice Questions • Short Calculation Practice Questions • Discussion Questions The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material. Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships. Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions. Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions. Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints. Who will we be learning from? You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum. You will be learning from somebody who is a: • CPA – Certified Public Accountant • CGMA – Chartered Global Management Accountant • Master of Science in Taxation • CPS – Certifies Post-Secondary Instructor • Curriculum Development Export As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels. As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications. The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro. Content Includes: Accounts receivable subsidiary ledger Accounts payable subsidiary ledger Special journals Sales journal Purchases journal Cash receipts journal Cash payment journal Accounting Cycle Comprehensive problem Excel Definitions and key term Who this course is for: Accounting students Business owner Anyone who whats to learn accounting Show more Show less Course content 9 sections • 79 lectures • 11h 44m total length Expand all sections Introduction 4 lectures • 26min Introduction Preview 09:53 PDF - Special Journals & Subsidiary Ledgers Preview 00:08 2 Special Journals Subsidiary Ledgers Preview 16:02 Accounting Comic Break 00:15 Accounts Receivable S