acc311 at The University of Texas

Videos

1 The Multistep Income Statement
The single step Income Statement is what we're used to dealing with, but the Multistep Statement gives us much more visibility into the information that actually matters.
12:44
2 Gross Profit vs Net Profit
Gross vs Net? What do those words mean? What's the difference between those two "profits"?
6:15
3 Profit Margin
Profit Margin is crucial for businesses to optimize. Let's take a look at what it actually is.
3:22
4 Cash vs. Accrual Accounting
Some businesses operate on the Cash Basis of accounting, but most are on the Accrual Basis. Cash is super simple, Accrual gets a little trickier.
7:21
5 Expense Recognition
If you pay for something today, should we recognize it as an expense? Well, it depends.
8:07
Chapter 4 →

Practice Problems

Click Here to View All Chapter 3 Problems at Once View
1 Revenue Recognition Easy
2 Determining Net Income From Transactions Moderate
3 Determining Net Income From Journal Entries Moderate
4 Calculating Operating Income Hard
5 Revenue and Expense Recognition Hard
← Chapter 2