### Course description

What you'll learn

• How to record the issuance of bonds
• How to record bonds issued at a premium
• How to record bonds issued at a discount
• Present value (PV) Calculations Using Formulas
• Present value (PV) Calculations Using Tables
• Present value (PV) Calculations Excel
• Calculate Bond Issue Price
• How to record bond retirement
• Description of notes payable
• How to create an amortization table
• Adjusting entries for notes payable
• How to record current and long term liabilities
• Types of bonds and bond characteristics
• Calculate the effective amortization method
• Explain what a capital lease and operating lease is
• Comprehensive accounting problem

Bonds payable, notes payable, and liabilities will introduce the concept of bonds from a corporate perspective and explain how to record the issuance of bonds and notes payable.

We will discuss the journal entry for issuing bonds at par value, at a discount, and at a premium.

The course will cover present value calculations in multiple formats. Present value calculations are often confusing to learners partially because the topic can be introduced in many ways. We will look at various ways to calculate present value and explain when we would use each. We will calculate present values using formulas and algebra, using present value tables, and using Microsoft Excel functions.

We will calculate the issue price of bonds and discuss why the issue price often differs from the par value or face amount of a bond.

The course will cover the journal entry related to the retirement of a bond, both at maturity and before maturity.

We will introduce notes payable, record journal entries related to taking out an installment note, and build amortization tables related to notes payable. Amortization tables help us record the proper transactions when making payments on a note payable and also provide us with a good idea of what interest is, how it is calculated, and why.

This course will discuss adjusting entries that can be used in an accounting system to help simplify the data entry process.

We will discuss how to create the liability section of the balance sheet breaking out current and long-term portions. We will discuss different techniques for recording the current portion and long-term portion of installment notes.

This course will discuss different types of bonds and bond characteristics.

We will demonstrate different methods for amortizing discounts and premiums including the straight-line method and effective method, discussing the pros and cons of each.

This course will describe the differences between a capital lease and operating lease and when a lease must be recorded as a capital lease.

We will also have a comprehensive problem designed to take a step back and think about the entire accounting cycle.

• 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.

### Course curriculum

• 1
• 2
##### Bonds - Market Rate vs Contract Rate
• 3
• 3 Bonds Issued at Premium
• PDF - 50 Bond Issued at Premium
• 50 Bond Issued at Premium
• 50 Bond Issue at Premium
• PDF - 60 Amortization Premium & Recording Interest
• 60 Premium Amortization & Interest
• 55 Bond Primium and Interest Journal Entry
• Discussion Question
• Accounting Comic Break
• 4
##### Bonds Issued at Discount
• 4 Bonds Issued at Discount
• PDF - 30 Bonds Issued at Discount
• PDF - 40 Amortizing Discount & Recording Interest
• 40 Issue bond at a discount%2C calculate%2C and record interest payment
• 30 Bond Issued at Discount
• 35 Bond Discount & Interest
• 1400.10 Record issuance of bond at a discount amortize straight line part 1-Accounting%2C Financial
• 1400.20 Record issuance of bond at a discount amortize straight line part 2-Accounting%2C Financial
• 1400.40 Record issuance of bond at a premium amortize straight line part 1-Accounting%2C Financial
• 1400.50 Record issuance of bond at a premium amortize straight line part 2-Accounting%2C Financial
• Discussion Question
• 10 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 5
##### Present Value - Bond Price
• 5 Present Value Bond Price
• PDF - 70 Bond Present Value Formulas
• 70 Bonds Present Value Formulas
• 70 Bond Present Value Formulas
• PDF - 80 Bond Present Value Tables
• 80 Bond Price Present Value Tables
• 80 Bond Present Value Tables
• PDF - 90 Bond Present Excel Formulas
• 90 Bond Price Excel Formula
• 90 Bond Present Value Excel
• Discussion Question
• 20 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 6
##### Bond Retirement
• 6 Bond Retirement
• PDF - 100 Bond Retirement
• 100 Bond Retirement
• 100 Bond Retirement
• Discussion Question
• 30 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 7
##### Notes Payable Introduction
• 7 Notes Payable Introduction
• PDF - 110 Notes Payable Introduction
• 110 Notes Payable Introduction
• PDF - 120 Installment Note Journal Entry
• 120 Note Payable Journal Entry
• 120 Installment Note Initial Journal Entry
• Discussion Question
• 40 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 8
##### Amortization Schedule - Notes Payable
• 8 Amortization Schedule Notes Payable
• PDF - 130 Notes Payable Amortization
• 130 Amortization Schedule
• PDF - 140 Notes Payable Interest Payments
• 140 Notes Payable Payments Journal Entry
• 130 Note Payable Amortization
• 140 Note pyable interest payments
• Discussion Question
• 50 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 9
• PDF - 150 Adjusting Entry - Notes Payable
• 150 Notes Payable Adjusting Entry
• 150 Note Payable Adjusting Entry 1
• 160 Note Payable Adjusting Entry 2
• Discussion Question
• 60 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 10
##### Financial Statements - Long Term Liabilities
• 10 Financial Statements Long Term Liabilities
• PDF - 170 Liabilities - Current vs Non Current
• 170 Notes Payable Current vs. Non Current
• 170 FS St LT One Loan 1 TB Account
• 180 FS St LT Loan 1 loan 2 TB Accounts
• 190 FS ST LT 2 loans 1 TB account
• 200 FS ST LT 2 Loans 1 ST 1 LT TB account
• 210 FS ST LT 2 Loans 2 Loan Account TB
• 220 FS 2 Loans 4 Accounts TB
• Discussion Question
• 70 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 11
##### Bond Characteristics and Types
• 11 Bond Characteristics and Types
• PDF - 230 Bond types
• 230 Bond Characteristics
• Discussion Question
• 80 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 12
##### Effective Method - Amortization Bond Discount & Premium
• 12 Effective Method Amortization Bond Discount & Premium
• PDF - 230 Effective Interest Discount Amortization
• 235 Discount Amortization Effective Method
• 230 Effective Interest Discount Amortization
• 240 Effective Interest Premium Amortization
• 240 Premium Amortization Effective Method
• 240 Effective Interest Premium Amortization
• Discussion Question
• 1400.20 Test questions Part 2 Long Term Liabilities%2C Bonds%2C Discount%2C Premium%2C Notes
• 90 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 13
##### Leases - Operating vs. Capital
• 13 Leases Operating vs. Capital
• PDF - 250 Leases
• 250 Leases Capital vs. Operating
• Discussion Question
• 1400.10 Test questions Part 1 Long Term Liabilities%2C Bonds%2C Discount%2C Premium%2C Notes
• 100 Multiple Choice Question – Long Term Liabilities
• Accounting Comic Break
• 14
##### Definitions & Key Terms
• 15 Definitions & Key Terms
• Annuity Defininition - Wha is Annuity%3F
• Bond Definition - What is Bond%3F
• Book Value of Bonds - What is Book Value of Bonds%3F
• Carrying Value of Bonds Definition - What is Carrying Value
• Lease Definition - What is a Lease%3F (1)
• Accounting Comic Break

Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.

In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.

Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.

Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.

Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.

Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.

The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.