### Course curriculum

Adjusting entries, posting adjusting entries to a worksheet, financial statement creation from an adjusted trial balance, and reversing entries will be covered in this course.

The adjusting entry process is a fundamental bookkeeping and accounting process but is often the accounting process most misunderstood.

Because of the name of accounting adjusting entry process we are led to believe that we are adjusting errors made by the accounting department. In other words, we may get the idea that the adjusting process would not be needed if the accounting department did their work perfectly through the period. This assumption of the adjusting process fixing errors is not the primary purpose for the adjusting process.

The adjusting process is a necessary part of the accounting cycle and one that is built into the accounting system. In other words, we plan for the adjusting process, and part of the plan is to enter normal accounting transactions in such a way that we will most easily be able to make adjustments at the end of the time period.

The adjusting process helps significantly with the understanding of accrual concepts because the adjusting process focuses on timing differences, on when revenue and expense should be recognized.

We enter adjusting entries as of the end of the period. Adjusting entries will have a balance sheet component and an income statement component.

Once the adjusting entries are complete, we can use the adjusted trial balance to create the financial statements, the balance sheet, the income statement, and the statement of equity. Who will we be learning from?

• 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.

Who will we be learning from?

You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.

You will be learning from somebody who is a:

• CPA – Certified Public Accountant
• CGMA – Chartered Global Management Accountant
• Master of Science in Taxation
• CPS – Certifies Post-Secondary Instructor
• Curriculum Development Export

As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.

The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.

Topics include the adjusting process, posting the adjusting entries to a worksheet, creation of the financial statements, and reversing entries.

The adjusting process takes place after normal business transaction have been entered. Adjusting entries help us better understand the accrual process because they deal with timing differences.

We will use a worksheet to record the adjusting process and discuss the components of the worksheet.

Once we have completed the adjusting process we will have an adjusted trial balance representing account balances that are as accurate as possible according to accrual accounting.

We will then use the adjusted trial balance to create the financial statements, converting the debit and credit format of the adjusted trial balance to the plus and minus format of the financial statements.

It will be great.

Who is the target audience?
• Accounting students
• Anyone who whats to learn accounting

### Course curriculum

• 1
• 2
• 3
##### Adjusting Entry Rules and Thought Process
• 3 Adjusting Entry Rules and Thought Process
• PDF - 2.05 Double entry accounting Debits and Credits - Accounting equation u
• 205 Debits & Credits
• PDF - 2.06 Debit Credit - One Rule To Rule Them u
• 210 Rules for Using Debits & Credits
• PDF - 3.05 Rules for Adjusting Entries
• 3 Adjusting Journal Entry Rules - What are Adjusting Journal E
• Notes - What Adjusting Journal Entries Are?
• PDF 3.08 Why Use A Worksheet
• 3.5 Why Use a Worksheet in Adjusting Process
• Notes - Why Adjusting Entries Are Needed
• 3.07 Adjusting Entreis Thought Process
• Notes - Adjusting Entry Rules & Thought Process
• Accounting Comic Break
• 4
##### Supplies, Unearned Revenue, and Wages Adjusting Entries
• 4 Supplies, Unearned Revenue, and Wages Adjusting Entries
• Notes - Prepaid Expenses
• PDF - 3.10 Lecture 7 Adjusting Entries - Supplies, Unearned Revenue, Wages Payable D & D
• Notes - Adjusting Entry For supplies
• 6 Adjusting entry unearned revenue
• Notes - Unearned or Deferred Revenue
• 7 Adjusting Entry Wages Payable
• Notes - Accrued Expenses
• Worksheet 1.1 Adjusting entries Supplies%2C Unearned revenue%2C and Payroll Part 1-Accounting instructions
• Worksheet 1.2 Adjusting entries Supplies%2C Unearned Revenue%2C and Payroll Part 2
• Discussion Question
• Accounting Comic Break
• 5
##### Accounts Receivable, Insurance, and Depreciation Adjusting Entries
• 5 Accounts Receivable, Insurance, and Depreciation Adjusting Entries
• PDF - 3.20 Lecture 7.5 Adjusting Entries 2 D & D
• 8 Adjusting Entry Accounts Receivable
• Notes - Accrued Revenue
• Notes - Prepaid Insurance
• Notes - Depreciation expense for the period is calculated to be \$1,100.
• Worksheet 2.1 Adjusting entries Prepaid Insurance and Depreciation Part 1-Accounting instructions
• Worksheet 2.2 Adjusting entries Prepaid Insurance and Depreciation Part 2-Accounting instructions
• Discussion Questions
• Accounting Comic Break
• 6
##### Reversing Entries
• 6 Reversing Entries
• Notes - Reversing Entries
• PDF - 3.22 Reversing Entry AR
• 11 Reversing Journal Entries - Accrued Revenue
• Notes - Accrued Revenues Reversing Entry Example
• 3 Worksheet Accounts Receivable Reversing Entry
• 3 10.350 Accounts Receivable Reversing Entry
• 4 Unearned Revenue Reversing Entry
• 4 10.550 Unearned Revenue Reversing Entry
• PDF - 3.22 Reversing Entry Wages Payable
• 11.5 Reversing Entry Wages Payable
• Notes - Wages Payable Reversing Entry Example
• Discussion Question
• 300.1 Multiple Choice Questions Adjusting Entries
• Accounting Comic Break
• 7
##### Financial Statements Overview
• 7 Financial Statements Overview
• PDF - 1.18 Balance Sheet Explained u
• 120 Balance Sheet
• Notes - Relationship Between the Financial Statements and Adjusted Trial
• PDF - 1.20 Income Statement Explained u
• 130 Income Statement
• PDF - 1.23 Statement of Owner's Equity u
• 131 Statement of Owner's Equity
• Notes - Analysis of The Financial Statement Relations
• Accounting Comic Break
• 8
##### Create the Balance Sheet
• 8 Create the Balance Sheet
• PDF - 3.30 Lecture 9 Financial Statement D & D
• 12 Balance Sheet Current Assets from Trial Balance
• PDF - 3.35 Lecture 9 Finanical Statement D & D 2
• 13 Balance Sheet Property Plant %26 Equipment From Trial Balance
• PDF - 3.37 Lecture 9 Financial Statement D & D 2 liability
• 14 Balance Sheet Liability Section Creation From Trial Balance
• 15 Balance Sheet Equity Section Creation from Trial Balance
• Notes - Balance Sheet Constructed from the Adjusted Trial Balance
• Discussion Question
• 300.2 Multiple Choice Adjusting Process
• 1 Test questions Part 1 Adjusting Entries%2C Adjusted Trial Balance%2C and Creating
• Accounting Comic Break
• 9
##### Create the Income Statement
• 9 Create the Income Statement
• PDF - 3.40 Lecture 9 Financial Statement D & D 2 IS
• 16 Income Statement from Trial Balance
• Note - Income Statement Created Form Adjusted Trial Balance
• Multiple Choice Question
• Discussion Question
• 2 Test questions Part 2 Adjusting Entries%2C Adjusted Trial Balance%2C and Creating
• Accounting Comic Break
• 10
##### Create the Statement of Owner’s Equity from the Trial Balance
• 10 Create the Statement of Owner’s Equity from the Trial Balance
• 17 Statement of Equity From Trial Balance
• PDF - 3.41 Lecture 9 Financial Statement D & D 2 Equity
• 17 Statement of Equity From Trial Balance
• 300.4 Multiple Choice Adjusting Process
• Accounting Comic Break
• 11
##### Financial Statement Relationship
• PDF - 3.42 Lecture 9 Financial Statement D & D 2 FS relationship
• 18 Financial Statement Relationships
• Notes - Statement of Owner’s Equity Created Form Adjusted Trial Balance
• Worksheet - 5 Financial Statements
• 5 Worksheet Financial Statements from Trial Balance
• Discussion Question
• 3 Test questions 300 Part 3 Adjusting Entries%2C Adjusted Trial Balance%2C and Creating
• Accounting Comic Break
• 12
##### Comprehensive Problem
• 11 Comprehensive Problems
• Excel Worksheet for Comprehensive Problem
• 1 Accounting%2C Financial - Comp Prob Service Co 1 Part 1
• 2 Accounting%2C Financial - Comp Prob Service Co 1 Part 2
• 3 Accounting%2C Financial - Comp Prob Service Co 1 Part 3
• 4 Accounting%2C Financial - Comp Prob Service Co 1 Part 4
• 5 Accounting%2C Financial - Comp Prob Service Co 1 Adjusting Entries part 5
• 6 Comp Prob Service Co 1 Adjusting Entries part 6
• 7 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 7
• 8 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 8
• 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.