This course is designed for those interested to learn the basics of receivables in accounting with focus on accounts receivable and notes receivable, the cycle, journal entries for recording, and related subsidiary ledgers, as well as the allowance method and the direct write off method.
Read more.Instructor
Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI
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Who this course is for:
- Accounting students
- Business owner
- Anyone who wants to learn accounting
What you’ll learn:Â
- Direct write off method
- Allowance method
- Notes receivable
Requirements:Â
- No prior knowledge is required to take this course
In this course, 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.Â
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.Â
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.Â
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.
Our Promise to You
By the end of this course, you will have learned accounting for receivables.
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Course Curriculum
| Section 1 - Introduction | |||
| Receivables Course Overview | 00:00:00 | ||
| Receivables Introduction | 00:00:00 | ||
| Section 2 - Accounts Receivable Journal Entries | |||
| Accounts Receivable Journal Entries Overview | 00:00:00 | ||
| Accounts Receivable Journal Entries | 00:00:00 | ||
| Debits And Credits Accounts Receivable | 00:00:00 | ||
| General Ledger Accounts Receivable | 00:00:00 | ||
| Multiple Choice Questions – Accounts Receivable | 00:00:00 | ||
| Section 3 - Accounts Receivable Subsidiary Ledger | |||
| Accounts Receivable Subsidiary Ledger Overview | 00:00:00 | ||
| Accounts Receivable Subsidiary Ledger Explained | 00:00:00 | ||
| Accounts Receivable Subsidiary Ledger – Part One | 00:00:00 | ||
| Accounts Receivable Subsidiary Ledger – Part Two | 00:00:00 | ||
| Multiple Choice Questions – Accounts Receivable | 00:00:00 | ||
| Discussion Question | 00:00:00 | ||
| Section 4 - Direct Write Off Method | |||
| Direct Write Off Method Overview | 00:00:00 | ||
| Direct Write Off Method | 00:00:00 | ||
| Worksheet Direct Write Off Method | 00:00:00 | ||
| Multiple Choice Questions – Accounts Receivable | 00:00:00 | ||
| Discussion Question | 00:00:00 | ||
| Section 5 - Allowance Method | |||
| Allowance Method Overview | 00:00:00 | ||
| Allowance Method Accounts Receivable | 00:00:00 | ||
| Allowance Method – Part One | 00:00:00 | ||
| Allowance Method – Part Two | 00:00:00 | ||
| Allowance Method – Part Three | 00:00:00 | ||
| Multiple Choice Questions – Accounts Receivable | 00:00:00 | ||
| Discussion Question | 00:00:00 | ||
| Section 6 - Allowance Method Compared To The Direct Write Off Method | |||
| Allowance Method Compared To The Direct Write Off Method Overview | 00:00:00 | ||
| Allowance Method Compared vs Direct Write Off Method | 00:00:00 | ||
| Multiple Choice Questions – Accounts Receivable | 00:00:00 | ||
| Discussion Question | 00:00:00 | ||
| Section 7 - Allowance For Doubtful Accounts Calculation | |||
| Allowance For Doubtful Accounts Calculation Overview | 00:00:00 | ||
| Allowance Method Accounts Receivable vs Sales Method | 00:00:00 | ||
| AR Method – Allowance For Doubtful Accounts | 00:00:00 | ||
| Fifty Percent Of Sales Method – Allowance For Doubtful Accounts | 00:00:00 | ||
| Multiple Choice Questions – Accounts Receivable | 00:00:00 | ||
| Test Questions – Accounts Receivable Direct Write Off | 00:00:00 | ||
| Discussion Question | 00:00:00 | ||
| Section 8 - Notes Receivables | |||
| Notes Receivables Overview | 00:00:00 | ||
| Notes Receivable | 00:00:00 | ||
| Interest Calculations | 00:00:00 | ||
| Worksheet – Simple Interest | 00:00:00 | ||
| Note Receivable Example | 00:00:00 | ||
| Worksheet One – Notes Receivable | 00:00:00 | ||
| Worksheet Two – Notes Receivable | 00:00:00 | ||
| Multiple Choice Questions – Accounts Receivable | 00:00:00 | ||
| Test Questions – Accounts Receivable Direct Allowance | 00:00:00 | ||
| Discussion Question | 00:00:00 | ||
| Section 9 - Comprehensive Problem | |||
| Comprehensive Problem Overview | 00:00:00 | ||
| Comprehensive Problem Special Journals – Part One | 00:00:00 | ||
| Comprehensive Problem Special Journals – Part Two | 00:00:00 | ||
| Comprehensive Problem Special Journals – Part Three | 00:00:00 | ||
| Comprehensive Problem Special Journals – Part Four | 00:00:00 | ||
| Comprehensive Problem Special Journals Part Five – Adjusting Entries | 00:00:00 | ||
| Comprehensive Problem Special Journals Part Six – Financial Statements | 00:00:00 | ||
| Comprehensive Problem Special Journals – Part Seven – Closing Process | 00:00:00 | ||
| Downloadable Materials – Receivables | 00:00:00 | ||
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