Udemy

Platform

English

Language

Accounting & Bookkeeping

Category

Receivables & The Allowance vs The Direct Write Off Methods

Accounts receivable valuation, allowance method, direct write off method, valuation of notes receivable, internist calc

4.80 (33 reviews)

20969

Students

14 hours

Content

Jun 2019

Last Update
$94.99
Regular Price


What you will learn

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


Description

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. 

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: 

  • Account 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

Screenshots

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

Content

Introduction

Introduction

PDF - 10 Receivables Introduction

Receivables Introduction

Quick Comic Break

Accounts Receivable Journal Entries

2 Accounts Receivable Journal Entries

PDF - 20 Lecture 4 Business transactions involving accounts receivable D & D

Accounts Receivable Journal Entries

Excel Download

Prob 5 Debits and Credits Accounts Receivable

Excel Download

Prob 8 General Ledger Accounts Receivable

10 Multiple Choice Questions - Accounts Receivable

Quick Comic Break

Accounts Receivable Subsidiary Ledger

3 Accounts Receivable Subsidiary Ledger

PDF - 30 AR subsidiary ledgers D & D new

Accounts Receivable AR Subsidiary Ledger Explained

Excel Download

700.10 Accounts Receivable Subsidiary Ledger 700 Part 1-Accounting instructions-

700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructions

20 Multiple Choice Questions - Accounts Receivable

Quick Comic Break

Direct Write Off Method

4 Direct Write Off Method

PDF - 40 Direct Write Off Method

Direct Write Off Method

Excel Download

Worksheet Direct Write Off Method

30 Multiple Choice Questions - Accounts Receivable

Quick Comic Break

Allowance Method

5 Allowance Method

PDF - 50 Allowance Method D & D

Allowance Method Accounts Receivable

Excel Download

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

900.20 Allowance Method 900 Part 2-Accounting%2C Financial

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

40 Multiple Choice Questions - Accounts Receivable

Quick Comic Break

Allowance Method Compared to The Direct Write Off Method

6 Allowance Method Compared to The Direct Write Off Method

PDF - 60 Allowance & Direct Writ Off Method Comparison

Allowance Method VS Direct Write Off Method

50 Multiple Choice Questions - Accounts Receivable

Quick Comic Break

Allowance for Doubtful Accounts Calculation

7 Allowance for Doubtful Accounts Calculation

PDF - 70 Allowance AR vs Sales method

Allowance Method % Accounts Receivable vs % Sales Method

Excel Download

Worksheet % of Accounts Receivable Aging Method

Excel Download

Worksheet - % of Sales Method - Allowance for Doubtful Accounts

Short Calculation 1

60 Multiple Choice Questions - Accounts Receivable

Quick Comic Break

Notes Receivables

8 Notes Receivable

PDF - 80 Note Receivable

Notes Receivable

PDF - 90 Interest Calculations

Interest Calculations

Excel Download

Worksheet - Simple Interest

100 Note Receivable Example

Note Receivable Example

Excel Download

Worksheet 1 - Notes Receivable

Worksheet 2 - Notes Receivable

Short Calculation 2

70 Multiple Choice Questions - Accounts Receivable

Quick Comic Break

Comprehensive Problem

9 Comprehensive Problem

Excel Download

Comprehensive Problem Special Journals Part 1

Comprehensive Problem Special Journals Part 2

Comprehensive Problem Special Journals Part 3

Comprehensive Problem Special Journals Part 4

Comprehensive Problem Special Journals Part 5 Adjusting Entries

Comprehensive Problem Special Journals Part 6 Financial Statements

Comprehensive Problem Special Journals Part 7 Closing Process



Reviews

I
Ivana22 September 2018

An excellent course! Very clear and easy-to-understand and follow explanations. The course is very practical and down-to-earth. The instructor is very responsive and always willing to help with detailed extra explanations. I've bought quite a number of Bob's courses so far and now I feel quite comfortable about keeping accounting records for US business clients, which was my goal from the very beginning. Highly recommendable for anyone who wants to master accounting skills and become an expert in this field!



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1647556

Udemy ID

4/15/2018

Course created date

7/10/2019

Course Indexed date
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