Accounting 101 with Jimmy Stewart
Activity Overview
Episode publication activity over the past year
Episodes
17 - The Objectives of Financial Reporting & Concepts of Accrual Accounting
23 Dec 2019
Contributed by Lukas
I've read a lot of boring stuff so that you don't have to! Today we will summarize some of the useful information in the FASB Concepts Statements and ...
16 - Closing the Books at the End of the Period (The Closing Process)
02 Feb 2019
Contributed by Lukas
Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and computer expense of $30,000 (net in...
15 - Adjusting Journal Entries (The Adjusting Process)
26 Jan 2019
Contributed by Lukas
Today we will go over the adjusting process. This is where we make our adjusting journal entries to get from our unadjusted trial balance to our...
14 - An Overview of the Accounting Cycle
19 Jan 2019
Contributed by Lukas
Today we will discuss the accounting cycle. This is the process taken each period to record transactions, prepare the financial statements, and to res...
13 - How to Dominate Indirect Cash Flow Statements (Fake Cash Method)
12 Jan 2019
Contributed by Lukas
Example # 1 Our Accounts Receivable balance increased by $20,000 from the end of last period to the end of this period. 1. Accounts Receivable is an a...
12 - FIFO & LIFO (Cost Layering Methods)
07 Dec 2018
Contributed by Lukas
Today we will discuss the cost layering methods that are used within the periodic and perpetual inventory systems. Assumptions for purchases: 50 uni...
11 - Perpetual & Periodic Inventory Methods & Cost of Goods Sold
25 Nov 2018
Contributed by Lukas
In this episode, we will cover the journal entries made when using the perpetual and periodic inventory methods, and we will also go over the formula ...
10 - Depreciation, Amortization, & Fixed Assets
10 Nov 2018
Contributed by Lukas
Today we tackle depreciation and amortization, and we discuss fixed assets. Facts for following examples: Asset cost of $85,000, salvage value of $10...
9 - Unearned Revenue (Deferred Revenue)
04 Nov 2018
Contributed by Lukas
In this episode, we discuss unearned revenue.
8 - Prepaid Expenses (Prepaid Assets)
28 Oct 2018
Contributed by Lukas
Today we will discuss prepaid assets, and do some examples with journal entries.
7 - Accounts Payable - Purchases, Payments, Discounts, & Agings
22 Oct 2018
Contributed by Lukas
In this episode, we will discuss accounts payable and journal entries related to accounts payable.
6 - Accounts Receivable - Sales, Collections, Discounts, Agings, & Write-Offs
21 Oct 2018
Contributed by Lukas
In this episode, we will describe accounts receivable, and we will go over journal entries related to accounts receivable.
5 - Contra Accounts - Understanding Them & Examples
13 Oct 2018
Contributed by Lukas
Today we will explain contra accounts, and we will also do some examples to demonstrate how the debits and credits work.
4 - An Introduction to Financial Statements
06 Oct 2018
Contributed by Lukas
In this episode, we will briefly discuss the four main financial statements in accounting: the balance sheet, income statement, statement of owner's e...
3 - General Ledgers & Trial Balances
29 Sep 2018
Contributed by Lukas
In this episode, we discuss the flow of accounting from how our journal entries are recorded in the general ledger, summarized in the trial balance, a...
2 - A|LE-R|E & Journal Entries
10 Sep 2018
Contributed by Lukas
In this episode, we discuss how each type of account in ALE-RE is affected by journal entries, and we learn the debit/credit language of accounting us...
1 - Assets, Liabilities, Equity, Revenue, & Expenses (ALE-RE)
10 Sep 2018
Contributed by Lukas
In this episode, we briefly discuss each type of account in accounting: Assets, Liabilities, Equity, Revenue, and Expenses.
0 - Introduction
10 Sep 2018
Contributed by Lukas
Hi Everyone, Welcome to Accounting 101 with Jimmy Stewart. I hope to explain accounting to you the way I wish someone had explained it to me when I fi...