acc311 at The University of Texas

Videos

1 Current Assets
We've already learned about assets, but now we're going to break it down a bit further and differentiate between current and non-current.
9:57
2 Non-Current Assets
We've already learned about Assets, but now we're going to break it down a bit further and differentiate between current and non-current.
10:25
3 Current Liabilities
We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.
6:24
4 Non-Current Liabilites
We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.
2:00
5 Contributed Capital
Shareholder's Equity is made up of two different components: Retained Earning and Contributed Capital. Here, we try to figure out what contributed capital is all about.
5:10
6 The Classified Balance Sheet
The Classified Balance Sheet lets us see our assets and liabilities by groups, which gives us a little better overview.
4:48
7 T-Accounts
T-Acounts are the 30,000 ft. view of your accounts. They help you quickly glance at an account and see what is going on inside of it.
3:15
8 Debits and Credits
Debits and Credits are the words of accounting. You must understand debits and credits if you want to be able to pass this class.
6:49
9 Determining Normal Balances For Assets & Liabilities
A "normal" balance just means what side of the account the increases go on. Here we're going to determine normal for Assets and Liabilities.
10:04
10 Determining Normal Balance for Shareholder's Equity
Shareholder's Equity has a normal balance, just like every other account. It's pretty simple to determine, not unlike Assets and Liabilities.
11:53
11 Normal Balance Shortcut: Double Entry
I told you that understanding normal balances is super important, so we're not done yet. This shortcut has to do with Double Entry Accounting. Excited? You probably should be.
11:51
12 Normal Balance Shortcut: DEAD Mnemonic
You'll be DEAD if you forget this. Forgive my cheesiness.
2:36
13 The Journal, Ledger, Trial Balance
The Journal, Ledger, and Trial Balance are how we keep track of what is going on day-to-day in our business.
14:00