Category: Financial Accounting

Coming soon

The following chapter references are from Accounting Principles, Seventh Canadian Edition by Weygandt, et. al.  If you’re taking introductory accounting, I hope these references help you!

Chapter 1 – Introduction

 

Income Statement or Statement of Earnings (page 23)

www.youtube.com/watch?v=Rks1wuRUY74 (6 minutes)

 

Chapter 2 – Financial Statements

 

Classified Balance Sheet format (pages 54 – 63)

www.youtube.com/watch?v=EBnrkusBy8Q (13 minutes)

 

Chapter 3 – Adjusting Entries

 

Transaction Analysis (pages 107 – 113)

www.youtube.com/watch?v=3fwPLy1jnDo (4 minutes)

www.youtube.com/watch?v=E_Kw_pFHY2w (5 minutes)

www.youtube.com/watch?v=GhDp9uEKuBk (48 minutes)

 

Debits and Credits (pages 114 – 118)

www.youtube.com/watch?v=CAVaV-96eBk (14 minutes)

www.youtube.com/watch?v=G4Ew3Ija9ZI (49 minutes)

www.youtube.com/watch?v=onq8AfjxjRo (3 minutes)

www.youtube.com/watch?v=3bdUPX7Lsr8 (7 minutes)

 

How to make a journal entry (pages 118 – 121)

www.youtube.com/watch?v=rWozzLa9naQ (15 minutes)

www.youtube.com/watch?v=g9efJduUVws (8 minutes)

 

How to post entries into the general ledger (pages 121 – 123)

www.youtube.com/watch?v=QkgF1-6aOwQ (14 minutes)

 

Creating a Trial Balance (pages 130 – 132)

https://www.youtube.com/watch?v=D2qPk6-erQk (6 minutes)

 

Chapter 4 – Accrual Accounting and Closing Entries

 

Adjusting entries (pages 164 – 181)

www.youtube.com/watch?v=jGzW-AI8jMc (13 minutes)

www.youtube.com/watch?v=eYBUHw70LrU (49 minutes)

 

Prepaid expenses (pages 169 – 175)

www.youtube.com/watch?v=sqJJ6c7zaX8 (12 minutes)

 

Depreciation expense (pages 171 – 172)

www.youtube.com/watch?v=-q6e9SXTKRM (10 minutes)

 

Interest expense (pages 178 – 179)

www.youtube.com/watch?v=UqDQZzX1nM8 (8 minutes)
Note: These are the same calculations we use in class, but we use months instead of days.

 

Accrued expenses (9 minutes)

www.youtube.com/watch?v=nqiNIlPG6jchttps://www.youtube.com/watch?v=nqiNIlPG6jc

 

Unearned revenues (pages 175 – 177)

www.youtube.com/watch?v=RDn_ryRK7-Q (6 minutes)

 

Closing entries (pages 188 – 190)

www.youtube.com/watch?v=fyMzLtkcSqg (13 minutes)

https://www.youtube.com/watch?v=4H_ImqWR5f4 (8 minutes)

 

Chapter 5 Inventory Accounting

 

Sales returns and allowances – perpetual method (pages 233 – 234)

www.youtube.com/watch?v=bZ4S1Rmk7pA (5 minutes)

 

Sales discounts (page 234 – 235)

www.youtube.com/watch?v=HV4ana221HU (4 minutes)

 

Perpetual journal entries (pages 227 – 236)

www.youtube.com/watch?v=pJS81kw5iWk (23 minutes)

 

Periodic journal entries (pages 244 – 251)

www.youtube.com/watch?v=wVHo8ASgn-c (20 minutes)

 

How to create a multistep income statement (pages 238 – 241)

www.youtube.com/watch?v=YBWrDtBuRkA (10 minutes)

 

Chapter 6 Inventory Valuation

 

Determining inventory quantities (pages 286 – 289)

www.youtube.com/watch?v=0E8T5jP-Yv4 (2 minutes)

 

Different inventory valuation methods (pages 289 – 298)

www.youtube.com/watch?v=aBrlZsPwDjE (13 minutes)

 

FIFO Valuation method example (pages 291 – 293)

www.youtube.com/watch?v=pJBwe03LmTU  (11 minutes)

 

Average or Moving average inventory valuation method (pages 293 – 296)

www.youtube.com/watch?v=CxsE-e5EAFs (11 minutes)

 

Inventory valuation methods comparisons, Lower of Cost and Net Realizable Value

https://www.youtube.com/watch?v=trKAVwxgV4I (48 minutes)

 

Accounting errors (pages 301 – 303)

https://www.youtube.com/watch?v=ou3UWB8B8AY (short overview, 2 minutes)

 

Lower of Cost and Net Realizable Value method (pages 301 – 303)

www.youtube.com/watch?v=C10Nd_2w5vk (6 minutes)

 

Chapter 7 Cash

 

Internal Control (pages 342 – 349)

www.youtube.com/watch?v=0NmlH1ZMbKs (18 minutes)

www.youtube.com/watch?v=go16NXs_J8c (50 minutes)

 

Bank reconciliation (pages 356 – 362)

www.youtube.com/watch?v=9LfnlMz2Aic (short overview, 8 minutes)

www.youtube.com/watch?v=-UhQ92wzk-w (more detailed, 21 minutes)

 

Cash and Cash Equivalents (pages 362 – 363)

https://www.youtube.com/watch?v=4Pxr_ZoZ050  (3 minutes)

 

Chapter 8 Receivables

 

Percentage of receivables method – bad debt expense (pages 398 – 404)

www.youtube.com/watch?v=QcQeM9rN1Lc (short overview)

www.youtube.com/watch?v=2a0xXhoT-zY (several ways of estimating bad debt expense, 50 minutes)

 

Aged list of accounts receivable method (page 399 – 401)

www.youtube.com/watch?v=1wq1rw46NTc (short overview, 8 minutes)

 

Notes receivable journal entries (pages 405 – 410)

www.youtube.com/watch?v=6Yks1XMyLxE (16 minutes)

 

Chapter 9 Property, Plant and Equipment

 

What depreciation is?

www.youtube.com/watch?v=fvj4iV3r49s (9 minutes)

 

Lump Sum purchase

https://www.youtube.com/watch?v=tzqtLXreuIU (6 minutes)

 

Straight-line depreciation method (pages 447 – 448)

www.youtube.com/watch?v=RHo_3kWaIJo (8 minutes)

 

Diminishing balance depreciation method (pages 448 – 449)

www.youtube.com/watch?v=ziayge17w6g (14 minutes)

 

Units of production depreciation method (pages 450)

https://www.youtube.com/watch?v=yg5CULLqtPg (5 minutes)

 

Change of accounting estimate (pages 455 – 455)

https://www.youtube.com/watch?v=P0Pvj3KAUQ0 (4 minutes)

 

Sale of equipment for a gain or a loss (pages 457 – 461)

https://www.youtube.com/watch?v=7t8NT5JNg88 (8 minutes)

 

Intangible assets (pages 461 – 466)

www.youtube.com/watch?v=ey1VAhAX5fg (3 minutes)

 

Chapter 10 Liabilities

 

Overview of current liabilities (pages 502 – 511)

https://www.youtube.com/watch?v=hjT6hRz96zc (5 minutes)