Receivables The Allowance vs The Direct Write Off Methods

Receivables & The Allowance vs The Direct Write Off Methods, available at $49.99, has an average rating of 4.5, with 76 lectures, based on 105 reviews, and has 41343 subscribers.

You will learn about Define accounts receivable and notes receivable, their nature as assets, and representing money owed for goods or services provided on credit. Explain accounts receivable cycle, including recording, monitoring, and collecting accounts receivable, and importance of subsidiary ledgers. Analyze valuation methods for accounts receivable: allowance method and direct write-off method, considering financial statements and matching principle. Apply allowance method to estimate bad debt expense based on historical data, industry norms, and economic conditions. Compare allowance method and direct write-off method, considering advantages, limitations, and financial reporting implications. Describe components of a note receivable and record related journal entries. Calculate simple interest on notes receivable using appropriate formulas. Interpret financial impact of accounts receivable and notes receivable on balance sheet and income statement. Analyze control measures for effective management of accounts receivable, including credit policies and collection strategies. Evaluate implications of accounts receivable and notes receivable on financial analysis and decision-making processes. This course is ideal for individuals who are Aspiring Accountants: Individuals who are pursuing a career in accounting or finance and want to develop a strong understanding of accounting concepts and techniques. or Business Owners and Managers: Entrepreneurs, small business owners, and managers who want to enhance their financial literacy and gain insights into managing and interpreting financial information. or Students and Professionals in Related Fields: Students studying business, finance, economics, or any other field that requires a basic understanding of accounting principles. Professionals in non-accounting roles who need to interact with financial statements and make informed decisions based on financial data. or Bookkeepers and Accounting Assistants: Individuals currently working or aspiring to work in bookkeeping or accounting assistant roles, seeking to improve their knowledge and skills in recording and maintaining financial transactions. or Anyone Interested in Accounting: Individuals with a general interest in accounting, personal finance, or understanding how businesses manage their finances. No prior accounting experience is required. It is particularly useful for Aspiring Accountants: Individuals who are pursuing a career in accounting or finance and want to develop a strong understanding of accounting concepts and techniques. or Business Owners and Managers: Entrepreneurs, small business owners, and managers who want to enhance their financial literacy and gain insights into managing and interpreting financial information. or Students and Professionals in Related Fields: Students studying business, finance, economics, or any other field that requires a basic understanding of accounting principles. Professionals in non-accounting roles who need to interact with financial statements and make informed decisions based on financial data. or Bookkeepers and Accounting Assistants: Individuals currently working or aspiring to work in bookkeeping or accounting assistant roles, seeking to improve their knowledge and skills in recording and maintaining financial transactions. or Anyone Interested in Accounting: Individuals with a general interest in accounting, personal finance, or understanding how businesses manage their finances. No prior accounting experience is required.

Enroll now: Receivables & The Allowance vs The Direct Write Off Methods

Summary

Title: Receivables & The Allowance vs The Direct Write Off Methods

Price: $49.99

Average Rating: 4.5

Number of Lectures: 76

Number of Published Lectures: 76

Number of Curriculum Items: 82

Number of Published Curriculum Objects: 82

Original Price: $199.99

Quality Status: approved

Status: Live

What You Will Learn

Define accounts receivable and notes receivable, their nature as assets, and representing money owed for goods or services provided on credit.

Explain accounts receivable cycle, including recording, monitoring, and collecting accounts receivable, and importance of subsidiary ledgers.

Analyze valuation methods for accounts receivable: allowance method and direct write-off method, considering financial statements and matching principle.

Apply allowance method to estimate bad debt expense based on historical data, industry norms, and economic conditions.

Compare allowance method and direct write-off method, considering advantages, limitations, and financial reporting implications.

Describe components of a note receivable and record related journal entries.

Calculate simple interest on notes receivable using appropriate formulas.

Interpret financial impact of accounts receivable and notes receivable on balance sheet and income statement.

Analyze control measures for effective management of accounts receivable, including credit policies and collection strategies.

Evaluate implications of accounts receivable and notes receivable on financial analysis and decision-making processes.

Who Should Attend

Aspiring Accountants: Individuals who are pursuing a career in accounting or finance and want to develop a strong understanding of accounting concepts and techniques.

Business Owners and Managers: Entrepreneurs, small business owners, and managers who want to enhance their financial literacy and gain insights into managing and interpreting financial information.

Students and Professionals in Related Fields: Students studying business, finance, economics, or any other field that requires a basic understanding of accounting principles. Professionals in non-accounting roles who need to interact with financial statements and make informed decisions based on financial data.

Bookkeepers and Accounting Assistants: Individuals currently working or aspiring to work in bookkeeping or accounting assistant roles, seeking to improve their knowledge and skills in recording and maintaining financial transactions.

Anyone Interested in Accounting: Individuals with a general interest in accounting, personal finance, or understanding how businesses manage their finances. No prior accounting experience is required.

Target Audiences

Aspiring Accountants: Individuals who are pursuing a career in accounting or finance and want to develop a strong understanding of accounting concepts and techniques.

Business Owners and Managers: Entrepreneurs, small business owners, and managers who want to enhance their financial literacy and gain insights into managing and interpreting financial information.

Students and Professionals in Related Fields: Students studying business, finance, economics, or any other field that requires a basic understanding of accounting principles. Professionals in non-accounting roles who need to interact with financial statements and make informed decisions based on financial data.

Bookkeepers and Accounting Assistants: Individuals currently working or aspiring to work in bookkeeping or accounting assistant roles, seeking to improve their knowledge and skills in recording and maintaining financial transactions.

Anyone Interested in Accounting: Individuals with a general interest in accounting, personal finance, or understanding how businesses manage their finances. No prior accounting experience is required.

Welcome to our comprehensive course on Accounts Receivable and Notes Receivable in accounting. In this course, we will explore the fundamental concepts and practical applications of managing receivables, including accounts receivable and notes receivable.

We will begin by examining the characteristics of accounts receivable and notes receivable, understanding their role in financial transactions. The accounts receivable cycle will be thoroughly covered, including the journal entries for recording accounts receivable and the use of subsidiary ledgers to track individual customer balances.

A major focus of the course will be on the valuation of accounts receivable. We will delve into two commonly used methods: the allowance method and the direct write-off method. You will gain a comprehensive understanding of these methods and learn how they impact financial statements. We will explore the estimation of bad debt expense under the allowance method, emphasizing the importance of accurate valuation.

In addition, we will discuss the significance of bank reconciliations and internal controls specific to cash, enhancing your knowledge of cash management. We will cover the setup and recording of a petty cash account, ensuring you have a solid grasp of this important aspect of cash control.

The course will also address notes receivable, including their components and the journal entries involved in recording and receiving payment on a note. You will learn how to calculate simple interest, a crucial skill in analyzing and managing note receivable transactions.

To facilitate your learning experience, this course offers a wide range of resources. You will have access to downloadable PDF files for offline reference, Excel practice files to reinforce your skills, multiple-choice and short calculation practice questions to assess your understanding, and engaging discussion questions to foster interactive learning with fellow students.

Rest assured that you will be learning from a highly qualified instructor with extensive experience in accounting and teaching. With certifications such as CPA and CGMA, as well as a Master of Science in Taxation, the instructor possesses the expertise and practical insights necessary to guide you through the complexities of accounts receivable and notes receivable.

Enroll now to gain a comprehensive understanding of receivables, develop valuable skills, and advance your career in accounting.

Course Curriculum

Chapter 1: Introduction

Lecture 1: Introduction

Lecture 2: PDF – 10 Receivables Introduction

Lecture 3: Receivables Introduction

Lecture 4: Quick Comic Break

Chapter 2: Accounts Receivable Journal Entries

Lecture 1: 2 Accounts Receivable Journal Entries

Lecture 2: PDF – 20 Lecture 4 Business transactions involving accounts receivable D & D

Lecture 3: Accounts Receivable Journal Entries

Lecture 4: Excel Download

Lecture 5: Prob 5 Debits and Credits Accounts Receivable

Lecture 6: Excel Download

Lecture 7: Prob 8 General Ledger Accounts Receivable

Lecture 8: 10 Multiple Choice Questions – Accounts Receivable

Lecture 9: Quick Comic Break

Chapter 3: Accounts Receivable Subsidiary Ledger

Lecture 1: 3 Accounts Receivable Subsidiary Ledger

Lecture 2: PDF – 30 AR subsidiary ledgers D & D new

Lecture 3: Accounts Receivable AR Subsidiary Ledger Explained

Lecture 4: Excel Download

Lecture 5: 700.10 Accounts Receivable Subsidiary Ledger 700 Part 1-Accounting instructions-

Lecture 6: 700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructions

Lecture 7: 20 Multiple Choice Questions – Accounts Receivable

Lecture 8: Quick Comic Break

Chapter 4: Direct Write Off Method

Lecture 1: 4 Direct Write Off Method

Lecture 2: PDF – 40 Direct Write Off Method

Lecture 3: Direct Write Off Method

Lecture 4: Excel Download

Lecture 5: Worksheet Direct Write Off Method

Lecture 6: 30 Multiple Choice Questions – Accounts Receivable

Lecture 7: Quick Comic Break

Chapter 5: Allowance Method

Lecture 1: 5 Allowance Method

Lecture 2: PDF – 50 Allowance Method D & D

Lecture 3: Allowance Method Accounts Receivable

Lecture 4: Excel Download

Lecture 5: 900.10 Allowance Method 900 Part 1-Accounting%2C Financial

Lecture 6: 900.20 Allowance Method 900 Part 2-Accounting%2C Financial

Lecture 7: 900.30 Allowance Method 900 Part 3-Accounting%2C Financial

Lecture 8: 40 Multiple Choice Questions – Accounts Receivable

Lecture 9: Quick Comic Break

Chapter 6: Allowance Method Compared to The Direct Write Off Method

Lecture 1: 6 Allowance Method Compared to The Direct Write Off Method

Lecture 2: PDF – 60 Allowance & Direct Writ Off Method Comparison

Lecture 3: Allowance Method VS Direct Write Off Method

Lecture 4: 50 Multiple Choice Questions – Accounts Receivable

Lecture 5: Quick Comic Break

Chapter 7: Allowance for Doubtful Accounts Calculation

Lecture 1: 7 Allowance for Doubtful Accounts Calculation

Lecture 2: PDF – 70 Allowance AR vs Sales method

Lecture 3: Allowance Method % Accounts Receivable vs % Sales Method

Lecture 4: Excel Download

Lecture 5: Worksheet % of Accounts Receivable Aging Method

Lecture 6: Excel Download

Lecture 7: Worksheet – % of Sales Method – Allowance for Doubtful Accounts

Lecture 8: Short Calculation 1

Lecture 9: 60 Multiple Choice Questions – Accounts Receivable

Lecture 10: Quick Comic Break

Chapter 8: Notes Receivables

Lecture 1: 8 Notes Receivable

Lecture 2: PDF – 80 Note Receivable

Lecture 3: Notes Receivable

Lecture 4: PDF – 90 Interest Calculations

Lecture 5: Interest Calculations

Lecture 6: Excel Download

Lecture 7: Worksheet – Simple Interest

Lecture 8: 100 Note Receivable Example

Lecture 9: Note Receivable Example

Lecture 10: Excel Download

Lecture 11: Worksheet 1 – Notes Receivable

Lecture 12: Worksheet 2 – Notes Receivable

Lecture 13: Short Calculation 2

Lecture 14: 70 Multiple Choice Questions – Accounts Receivable

Lecture 15: Quick Comic Break

Chapter 9: Comprehensive Problem

Lecture 1: 9 Comprehensive Problem

Lecture 2: Excel Download

Lecture 3: Comprehensive Problem Special Journals Part 1

Lecture 4: Comprehensive Problem Special Journals Part 2

Lecture 5: Comprehensive Problem Special Journals Part 3

Lecture 6: Comprehensive Problem Special Journals Part 4

Lecture 7: Comprehensive Problem Special Journals Part 5 Adjusting Entries

Lecture 8: Comprehensive Problem Special Journals Part 6 Financial Statements

Lecture 9: Comprehensive Problem Special Journals Part 7 Closing Process

Instructors

Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

Rating Distribution

1 stars: 0 votes

2 stars: 4 votes

3 stars: 12 votes

4 stars: 37 votes

5 stars: 52 votes

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