The Accounting Cycle is a series of steps which are repeated every reporting period. The process starts with making accounting entries for each transaction and goes through closing the books. Use this tutorial for an overview of the accounting cycle, covering activities required both during and at the end of the accounting period.
Review accounting cycle terms and definitions like adjusting entries, the chart of accounts, and adjusted trial balance with this 10 random question quiz you can take as many times as you want.
Adjusting Entries are journal entries that are made at the end of the accounting period to adjust expenses and revenues to the accounting period where they actually occurred. Learn from examples of each type in this tutorial.
Preparing a trial balance is a key step in the accounting cycle, but what do you do if your trial balance doesn't balance. Learn how to troubleshoot your trial balance problems with this free tutorial.
The chart of accounts is a numerical listing of all identified accounts used by a company to record transactions. Learn more about the chart of accounts with this free tutorial.
The most critical concept for any accounting student to master is an understanding of debits and credits. Many textbooks can be confusing, but this tutorial should put you on the right path.
After preparing your adjusted trial balance, the next step in the accounting cycle is to prepare your financial statements. Learn about the balance sheet, income statement, statement of cash flow, and retained earnings statement in this tutorial.
The general ledger is where all accounting transactions are posted in a double entry system using debits (on the left) and credits (on the right) for each transaction. Learn about the general ledger in this tutorial.
After entering your transactions, preparing a trial balance is the next step in the accounting cycle. Learn how to build your trial balance with this free tutorial.
Study Accounting at College-Cram.com with these free resources covering all the steps in the accounting cycle: from setting up the chart of accounts to preparing financial statements.
Like other subjects, accounting has its share of terms to learn. These resources will help you to master the accounting terms you'll need to pass your Accounting Principles course
Explore basic statistics with this printable Smartacus Study Sheet. Review the types of graphs (line, bar, pie chart), how to read a table, and basic data set values -- median, mode, mean, and range.
Deciding on a business structure for your company is easier than you might think. By answering a series of basic questions, this virtual consultant can advise you of your choice (while teaching you the pros and cons of each type).
How well do you know your business terms? Take the plunge with this fun quiz -- ten questions randomly selected from accounting, economics, finance, management, marketing, business organization, and human resources.
Organizational charts are taught in several business courses, but each one tends to teach it from its own perspective. Bottom line, the org chart needs to function effectively to help the business achieve its goals.
Learn the important terms and definitions for accounting, marketing, economics, and other business disciplines with these flashcards. You can even study while you play a concentration game, too!
The topic of interest rates are more complicated than you might think. This tutorial covers the relevant terminology, including APR, APY, and the yield curve.
The Average Daily Balance is the total of the balance at the end of each day during a period divided by the number of days in the period. Learn how to calculate average daily balance (ADB) in this tutorial.
Balancing your checkbook is little more than making certain you and the bank both agree on what's happened to your bank account each month. Learn how to balance your checkbook with this helpful tutorial.
When considering the production or sale of a new product or service, businesses often will use break-even analysis and the break-even point to see whether its financially feasible. See how it works in this free tutorial.
Fixed costs are defined as any cost or expense that does not vary with changes in the level of business activities like sales or production. Learn more about fixed cost in this tutorial.
Variable costs are expenses that increase or decrease as a direct result of increases or decreases in sales or production volume. Learn more about variable cost in this tutorial.
Knowing the different methods of calculating depreciation isn't enough for an accountant, you also need to create a depreciation schedule. Here's how you do it.
Use this Bottomless Worksheet to get countless hours of practice on calculating depreciation using the declining balance method. Get ten new problems whenever you need them, along with an answer key -- both of which you can print!
This Formula Solver walks you through the steps to calculate depreciation with the declining balance method. Use your own numbers for the current value, salvage value, and years of life to find the depreciation for an asset in the current year.
Answer a series of basic questions, and this virtual consultant will advise you which depreciation method to use -- straight line, sum of the years' digits, units of production, or declining balance -- while teaching you about each one.
Depreciation is the periodic, systematic expiration of the cost of a company's fixed assets (except for land). Learn more about what depreciation is and is not in this tutorial.
Depreciation is the periodic, systematic expiration of the cost of a company's fixed assets (except for land). Explore definitions and methods (including declining balance, straight line, and units of production). It also prints for easy reference.
Get endless hours of practice on calculating depreciation using the double declining balance method with this Bottomless Worksheet. Get ten new problems whenever you need them, along with an answer key -- both of which you can print!
This Formula Solver walks you through the steps to calculate depreciation with the double declining balance method. Use your own numbers for the current value, salvage value, and years of life to find the depreciation for an asset in the current year.
Calculating straight-line depreciation just got easier with this Formula Solver. We'll walk you through the steps, using your numbers for the purchase price, salvage value, and years of life to find the annual depreciation for an asset.
Get endless practice on finding annual depreciation from the purchase price, salvage value, and years of life using the straight-line depreciation method. Ten new problems, a printed copy, and an answer sheet are all a button-click away.
Use this Bottomless Worksheet to get countless hours of practice on calculating depreciation using the sum-of-the-years-digits method (SYD). Get ten new problems whenever you need them, along with an answer key -- both of which you can print!
This Formula Solver walks you through the steps to calculate depreciation with the sum-of-the-years-digits method (SYD). Use your own numbers for the purchase price, salvage value, and years of life to find the depreciation for an asset in a given year.
Get endless practice using the units-of-production method of calculating depreciation with this Bottomless Worksheet. Ten new problems for you to solve, printed copies, and answer sheets are all just a click away.
This Formula Solver walks you through the steps for calculating depreciation with the Units-of-Production method. Use your own values for purchase price, salvage value, expected lifetime units, and current year units to check your homework answers.
Get endless practice right here in working with net price, cash discount amount, and discount rates! At the click of a button, this Bottomless Worksheet generates ten more problems for you to solve. Plus, a printed copy or answer sheet is a click away.
Learn how to calculate cash discounts with this Formula Solver! Series program. Use your own numbers and solve for either net price, discount rate, or discount amount. It even shows you how to find the net amount due and net price factor!
This Formula Solver! Series program will help you learn how to calculate chain discounts (also known as trade discount series). You can get a step-by-step solution using your own numbers.
This Formula Solver! Series program will help you learn how to calculate the partial payment credit and remaining balance due for a cash discount scenario. You can get a step-by-step solution using your own numbers.
Use this Formula Solver! Series program to learn how to calculate trade discounts. Use your own numbers and solve for either list price, discount rate, or discount amount. It even shows you how to find the net price and net price factor!
Examine an invoice and learn how to calculate a cash discount using the EOM (end of month) dating method with this Tab Tutor program. It also comes with a glossary to help you learn important terms like Balance Due and Terms Of Sale.
Examine an invoice and learn how to calculate a cash discount using the ordinary dating method with this Tab Tutor program. It also comes with a glossary to help you learn important terms like Balance Due and Terms Of Sale.
Examine an invoice and learn how to calculate a cash discount using the ROG (receipt of goods) dating method with this Tab Tutor program. It also comes with a glossary to help you learn important terms like Balance Due and Terms Of Sale.
Examine an invoice and learn how to calculate a cash discount using the X (extra) dating method with this Tab Tutor program. It also comes with a glossary to help you learn important terms like Balance Due and Terms Of Sale.
This Bottomless Worksheet is a way to get endless practice working with chain discounts (also known as a trade discount series). At the click of a button, it creates ten more problems for you to solve. A printed copy and answer sheet is also available.
Discounts and Allowances are reductions to the selling price of goods or services that can be applied anywhere in the distribution channel. Learn more about discounts and allowances with this tutorial.
This Bottomless Worksheet is a way to get endless practice working with cash discounts and end-of-month dating. At the click of a button, it creates ten more problems for you to solve. A printed copy and answer sheet is also available.
Get endless practice right here finding net amount due and discount date! At the click of a button, this Bottomless Worksheet generates ten more problems for you to solve. Plus, a printed copy or answer sheet is only a click away.
This Bottomless Worksheet is a way to get endless practice in finding partial payment credit and remaining balance due. At the click of a button, it creates ten more problems for you to solve. A printed copy and answer sheet is also available.
With this Bottomless Worksheet you can enjoy endless practice working with cash discounts and receipt-of-goods dating. Ten new problems at a time solve for these three variables, with a printed copy and/or answer sheet a click away.
This Bottomless Worksheet is a way to practice working with list price, trade discount amount, and discount rates. At the click of a button, it creates ten more problems for you to solve. A printed copy and answer sheet is also available.
Use this Bottomless Worksheet to get endless practice on cash discounts and extra dating. At the click of a button, it creates ten new problems for you to solve. A printed copy and answer sheet is also available.
Use this Formula Solver! Series program to learn how to calculate Cost of Goods Sold with the Average Cost Method, including concepts such as inventory and per unit cost.
Use this Formula Solver! Series program to learn how to calculate Cost of Goods Sold with the FIFO Method. It's great for checking your homework answers, too!
Use this Formula Solver! Series program to learn how to calculate Cost of Goods Sold with the LIFO Method. It's great for checking your homework answers, too!
This Smartacus Study Sheet will help you to understand how to find cost-of-goods-sold and the value of inventory. Explore definitions and methods (including Average Cost Method, LIFO, and FIFO). It also prints for easy reference.
Use this Formula Solver! Series program to learn how to calculate Inventory Value with the Average Cost Method. It's great for checking your homework answers, too!
Use this Formula Solver! Series program to learn how to calculate Inventory Value with the FIFO Method. It's great for checking your homework answers, too!
Use this Formula Solver! Series program to learn how to calculate Inventory Value with the LIFO Method. It's great for checking your homework answers, too!
Use this Smartacus Study Sheet to understand how to find the value of inventory and cost-of-goods-sold. Explore definitions and methods (including Average Cost Method, LIFO, and FIFO). It also prints for easy reference.
Use this Bottomless Worksheet to get endless practice on calculating markdown with original price, sale price, and markdown rate. At the click of a button, it creates ten new problems for you to solve. A printed copy and answer sheet is also available.
Use this Formula Solver! Series program to learn how to calculate price markdowns. Use your own numbers and solve for either original price, markdown rate, or sale price. It's great for checking your homework answers, too!
Calculating cost markup is a breeze with our popular Formula Solver! Series. Use your own numbers and solve for either cost, markup rate, or price. It's great for checking your homework answers, too!
Calculating price markup is a breeze with our popular Formula Solver! Series. Use your own numbers and solve for either cost, markup rate, or price. It's great for checking your homework answers, too!
Get endless practice right here finding cost, selling price, and markup rate! At the click of a button, this Bottomless Worksheet generates ten more problems for you to solve. Plus, a printed copy or answer sheet is only a click away.
This Bottomless Worksheet is a way to get endless practice on finding selling price, cost, and markup rate. At the click of a button, it creates ten more problems for you to solve. A printed copy and answer sheet is also available.
With this Bottomless Worksheet you can enjoy endless practice working with old price, new price, and spoilage rate. Ten new problems at a time solve for these three variables, with a printed copy and/or answer sheet a click away.
Use this Formula Solver! Series program to learn how to calculate price for perishables to cover spoilage losses. Use your own numbers and solve for either old price, new price, or spoilage rate. It's great for checking your homework answers, too!
Explore the basics of markup and markdown with this Smartacus Study Sheet. Use it to study definitions and formulas (including cost markup, price markup, calculating markdown, and pricing perishables). It also prints for easy reference.
The Cash Payments Journal is a special journal designed to record a single type of frequently occurring transaction -- in this case, cash payments. This tutorial cover the concept of the cash payments journal from the original transactions through the posting process.
The Cash Receipts Journal is a special journal designed to record a single type of frequently occurring transaction -- in this case, cash receipts. This tutorial will cover the concept of the cash receipts journal from the original transactions through the posting process.
The Purchases Journal is a special journal designed to record a single type of frequently occurring transaction -- in this case, credit purchases. This tutorial cover the concept of the purchases journal from the original transactions through the posting process.
The Sales Journal is a special journal designed to record a single type of frequently occurring transaction -- in this case, credit sales. This tutorial covers the concept of the sales journal from the original transactions through the posting process.
A subsidiary ledger, or subledger, breaks out a single general ledger account into subgroups that share common information. Find out more about subsidiary ledgers and their controlling accounts in this tutorial.
Endless practice on calculating sales tax from the purchase price and tax rate awaits you in this Bottomless Worksheet. Ten new problems, a printed copy, and an answer sheet are all a button-click away.
Use this Formula Solver! Series program to learn how to calculate sales tax from the purchase price and tax rate. It's great for checking your homework answers, too!
This Bottomless Worksheet offers limitless practice on calculating value-added tax from the purchase price and VAT tax rate. Ten new problems, a printed copy, and an answer sheet are all a button-click away.
Use this Formula Solver! Series program to learn how to calculate the value-added tax (VAT) from the purchase price and tax rate. It's great for checking your homework answers, too!
This Smartacus Study Sheet can help you understand the definitions and formulas for sales taxes and value-added taxes (VAT). It also prints for easy reference.
Use this Bottomless Worksheet to get endless practice on calculating compound interest from the principal, number of periods, and interest rate. Ten new problems to solve, a printed copy, and an answer sheet are all only a click away.
Calculating compound interest, as used in mortages, is now much easier. Learn how to find the interest using the principal, number of compounding periods, and interest rate. Use your own values for an added bonus!
Compound interest is the method of finding interest where interest is charged on the principal as well as the interest already accumulated. Review a simpler method for finding compound interest with this tutorial.
Get endless practice with this Bottomless Worksheet in calculating present value from future value, number of periods, and interest rate. At a button-click it creates ten more problems for you to solve, complete with printed copy and answer sheet.
This Flash tutorial walks you through the steps to calculate present value from the future value, interest rate, and number of maturity periods. You can enter your own values, too.
With this Bottomless Worksheet you can get endless practice on calculating simple interest from the principal amount, number of periods, and interest rate. A printed copy, answer sheet, and another ten problems are all just a button-click away.
Calculating simple interest is a snap with this Formula Solver. Learn how to find the interest using the principal, number of interest periods, and interest rate. Use your own values to check your homework!