Receivables - The Allowance Method vs The Direct Write Off Method
Learn how to value accounts and notes receivables using both the allowance method and direct write off method from a practicing CPA, CGMA, CPI, with B.S.Tax.
We will discuss receivables, focusing on accounts receivable and notes receivable, reviewing the accounts receivable cycle, the journal entries for recording accounts receivable, and related subsidiary ledgers.
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.
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.
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.
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.
In addition to instructional video, this course will include downloadable
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:
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.
Content Includes:
2 Accounts Receivable Journal Entries
FREE PREVIEWPDF - 20 Lecture 4 Business transactions involving accounts receivable D & D
FREE PREVIEW20 Accounts Receivable Journal Entries
FREE PREVIEWExcel Download
05 Prob 5 Debits and Credits Accounts Receivable
FREE PREVIEWExcel Download
07 Prob 8 General Ledger Accounts Receivable
FREE PREVIEW10 Multiple Choice Questions - Accounts Receivable
FREE PREVIEWAccounting Comic Break
FREE PREVIEW3 Accounts Receivable Subsidiary Ledger
PDF - 30 AR subsidiary ledgers D & D new
30 Accounts Receivable AR Subsidiary Ledger Explained
Excel Download
10 700.10 Accounts Receivable Subsidiary Ledger 700 Part 1-Accounting instructions- (1)
20 700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructions
20 Multiple Choice Questions - Accounts Receivable
Accounting Comic Break
Discussion Question
4 Direct Write Off Method
PDF - 40 Direct Write Off Method
40 Direct Write Off Method
Excel Download
20 Worksheet Direct Write Off Method
30 Multiple Choice Questions - Accounts Receivable
Discussion Question
Accounting Comic Break
5 Allowance Method
50 Allowance Method D & D
50 Allowance Method Accounts Receivable-financial accounting-Accounting%2C Financial
Excel Download
30 900.10 Allowance Method 900 Part 1-Accounting%2C Financial
32 900.20 Allowance Method 900 Part 2-Accounting%2C Financial
34 900.30 Allowance Method 900 Part 3-Accounting%2C Financial
40 Multiple Choice Questions - Accounts Receivable
Discussion Question
Accounting Comic Break
6 Allowance Method Compared to The Direct Write Off Method
PDF - 60 Allowance & Direct Writ Off Method Comparison
60 Allowance Method VS Direct Write Off Method
50 Multiple Choice Questions - Accounts Receivable
Discussion Question
Accounting Comic Break
7 Allowance for Doubtful Accounts Calculation
PDF - 70 Allowance AR vs Sales method
70 Allowance Method % Accounts Receivable vs % Sales Method
Excel Download
40 % of AR Method - Allowance for Doutful Accounts
Excel Download
50 % of Sales Method - Allowance for Doutful Accounts
60 Multiple Choice Questions - Accounts Receivable
900.20 Test questions Part 2 Accounts Receivable%2C Allowance %26 Direct Write Off
Discussion Question
Accounting Comic Break
8 Notes Receivable
PDF - 80 Note Receivable
80 Notes Receivable
PDF - 90 Interest Calculations
90 Interest Calculations
Excel Download
60 Worksheet - Simple Interest
PDF - 100 Note Receivable Example
100 Note Receivable Example
Excel Download
70 Worksheet 1 - Notes Receivable
Excel Download
80 Worksheet 2 - Notes Receivable
70 Multiple Choice Questions - Accounts Receivable
900.10 Test questionsAccounts Receivable%2C Allowance %26 Direct
Discussion Question
Accounting Comic Break
9 Comprehensive Problem
Excel Download
Comprehensive Problem Special Journals Part 1
Comprehensive Problem Special Journals Part 2
Comprehensive Problem Special Journals Part 3
Comprehensive Problem Special Journals Part 4
Comprehensive Problem Special Journals Part 5 Adjusting Entries
Comprehensive Problem Special Journals Part 6 Financial Statements
Comprehensive Problem Special Journals Part 7 Closing Process
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.
"Receivables - The Allowance Method vs The Direct Write Off Method"
$27.81
Lifetime enrollment
You may like these other courses by Robert (Bob) Steele.