Skip main navigation

£199.99 £139.99 for one year of Unlimited learning. Offer ends on 28 February 2023 at 23:59 (UTC). T&Cs apply

Find out more

Getting familiar with assets and liabilities

An asset is a resource available to the firm that is expected to generate future economic benefits (future cash inflows or reduce future cash outflows) An asset is recognised upon …

Introducing the accounting identity

In this video, we introduce the Accounting Identity. The accounting identity is a key criterion underpinning accounting logic. It helps to signpost and check whether we are on the right …

Adjusting entries at work

Adjusting entries are accounting journal entries that convert a company’s accounting records to the accrual basis of accounting. An adjusting journal entry is typically made just prior to issuing a …

Disentangling accounting principles

Basic accounting principles and guidelines govern the field of accounting. These form the foundation for more specific and detailed accounting rules. Accounting principles are the rules and guidelines that companies …

Assessing income: revenues and expenses

A fundamental role of accounting is identifying revenues and expenses. These differ from cash inflows and cash outflows. Think about the following problem A company buys properties downtown and pays …

Farewell

SUMMARY Here we are – we just hit the end of our journey. It is now time to reflect on what you have learned and celebrate your achievements! If you …

Closing the Books at the End of the Year

This Step In this video, we will guide you through an essential step in financial accounting: how do companies reconcile and summarize thousands of transactions and make sure of their …

The Trial Balance and Adjusting Entries

In this video we will move from the Trial Balance we construct at the end of the period, prior to all the adjustments, towards financial statements. In order to do …

Introducing the Accounting Identity

In this video we introduce the Accounting Identity. The accounting identity is a key criterion and underpinning to the accounting logic. It helps signposting and checking whether we are on …

MediaMax – Part 2 (Solutions)

It is now time to pause, review and reconceptualize what you have done in relation to the MediaMax case (part 2). The video intends to offer you a guidance (ex …