4.55 (10 reviews)
☑ Accounts receivable and note receivable characteristics
☑ Accounts Receivable Cycle
☑ Accounts Receivable Subsidiary Ledger
☑ Accounts Receivable Valuation
☑ Allowance For Doubtful Accounts Method of Accounts Receivable
☑ Direct Write Off Method of Accounts Receivable
☑ How to Estimate Bad Debt Expense Under the Allowance Method
☑ Components of a Note Receivable
☑ How to Calculate Simple Interest
☑ How to Record A Note Receivable
This course will just provide the Excel practice questions component of our resources so that learners can practice problems without the distraction of other resources.
Bookkeeping problems in Excel.
We will discuss receivables, focusing on accounts receivable and notes receivable, reviewing the accounts receivable cycle, the journal entries for recording accounts receivable, and related subsidiary ledgers.
We will discuss bad debt and valuing of accounts receivable using two methods, the allowance method and the direct write off method. The accounts receivable account represents money owed to the company but there will be times when the company cannot collect on the account receivables.
Under the direct write off method, we write off the accounts receivable as we determine they are not collectible. The direct write off method does not do a good job of representing the accounts receivable account's true value and does not do a good job of conforming to the matching principle, matching up expenses with the related revenue it was used to generate.
The allowance method does a better job of valuing accounts receivable and conforming to the matching principle and is the method preferred. The allowance method is more complex, however, and requires the use of estimates.
We will also discuss notes receivable, the journal entry for recording notes receivable, and for receiving payment on a note receivable. We will cover detailed methods for calculating simple interest.
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.
Accounts Receivable Transactions
05 Prob 5 Debits and Credits Accounts Receivable
07 Prob 8 General Ledger Accounts Receivable
Accounts Receivable Subsidiary Ledger
10 700.10 Accounts Receivable Subsidiary Ledger 700 Part 1-Accounting instructio
20 700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructio
Direct Write Off Method
20 Worksheet Direct Write Off Method
30 900.10 Allowance Method 900 Part 1-Accounting%2C Financial
32 900.20 Allowance Method 900 Part 2-Accounting%2C Financial
34 900.30 Allowance Method 900 Part 3-Accounting%2C Financial
Percentage of AR Method to Calculate Allowance for Doubtful Accounts
40 % of AR Method - Allowance for Doubtful Accounts
Percentage of Sales Method to Calculate Allowance for Doubtful Accounts
50 % of Sales Method - Allowance for Doubtful Accounts
60 Worksheet - Simple Interest
70 Worksheet 1 - Notes Receivable
80 Worksheet 2 - Notes Receivable
Well taught, instructor broke down the information well and considered all ways of tackling the problem. Job well done.
Step and step for completed AR process. You don't have to remember the account debit or account credit difficultly, you just need to follow the video and then you know all of them automatically. Very helpful!