This course is to get ready for the VCE Accounting exam 2024.
- Solve questions from the past papers
- Learn any concepts of your choice
- Feel free to come with your own questions
- Online or face-to-face.
- Private or group lessons
Book a free trial class today!
Pricing
| Private hourly fee | $45.00 /Hour |
| Group hourly fee | $35.00 /Hour |
What will you learn
Subject: VCE Accounting 3/4
| The purpose of Accounting |
| Users of financial information |
| The Accounting process |
| Accounting assumptions |
| Qualitative characteristics |
| Elements of Accounting reports |
| Assets, liabilities, and owner's equity |
| The Balance Sheet |
| Classification in the Balance Sheet |
| Double-entry Accounting |
| Ledger accounts and the General Ledger |
| Double-entry recording in ledger accounts |
| Recording revenues and expenses |
| Specific transactions |
| The Trial Balance |
| Balancing |
| Source documents and the Goods and Services Tax |
| GST |
| The General Journal |
| Cash receipts |
| Cash sales and the GST |
| Cash payments |
| Cash payments and the GST |
| The GST Clearing account |
| Credit purchases and the GST |
| Payments to Accounts Payable |
| Purchase returns |
| Discount revenue |
| Statement of Account |
| Accounts Payable Turnover |
| Credit sales and the GST |
| Receipts from Accounts Receivable |
| Sales returns |
| Discount expense |
| Statement of Account |
| The GST Clearing account |
| Accounts Receivable Turnover |
| Memos and the General Journal |
| Non-cash contributions by the owner |
| Non-cash drawings by the owner |
| Establishing a double-entry system (for an existing business) |
| Correcting entries |
| Other business documents |
| Reporting for inventory |
| Inventory cards |
| Recording in inventory cards |
| Valuing inventory: changing cost prices |
| Valuing inventory at the time of sale: Identified Cost |
| Inventory losses and gains: Identified Cost |
| Valuing inventory at the time of sale: FIFO |
| Inventory losses and gains: FIFO |
| Identified Cost versus FIFO |
| Benefits of the perpetual system |
| The 'cost' of inventory |
| Product costs |
| Period costs and other expenses |
| Reporting product and period costs |
| The Lower of 'Cost' and 'Net Realisable Value' (NRV) rule |
| Inventory write-down |
| Reporting an Inventory write-down |
| Inventory Turnover (ITO) |
| Determining profit or loss |
| Closing the ledger |
| Transferring Drawings |
| The Income Statement |
| Uses of the Income Statement |
| Financial indicators |
| Communicating information: graphical representations |
| Reporting for cash |
| The Cash Flow Statement |
| Uses of the Cash Flow Statement |
| Financial indicators |
| Cash versus profit |
| The need for balance day adjustments |
| Prepaid expenses |
| Accrued expenses |
| The Post-adjustment Trial Balance |
| Non-current assets |
| Calculating depreciation expense: straight-line method |
| Calculation issues: straight-line method |
| Recording depreciation |
| Reporting depreciation |
| Purchasing non-current assets |
| Methods of depreciation |
| Calculating depreciation expense: reducing balance method |
| Comparing depreciation methods |
| Disposal of a non-current asset |
| Profit or loss on disposal of a non-current asset |
| Trade-in of a non-current asset |
| Reporting profit or loss on disposal of a non-current asset |
| Credit sales and Accounts Receivable |
| Balance day adjustment: Bad debts expense (Allowance for doubtful debts) |
| Subsequent periods |
| The need for balance day adjustments |
| Unearned revenues |
| Unearned sales revenue: sales of inventory involving a deposit |
| Accrued revenue |
| Budgeting |
| The budgeting process |
| The Budgeted Cash Flow Statement |
| Calculating cash flows |
| The Budgeted Income Statement |
| The Budgeted Balance Sheet |
| Account reconstruction |
| Variance reports: cash and profit |
| Vertical analysis of the income statement |
| Tools for assessing profitability |
| Return on Owner's Investment (ROI) |
| Debt Ratio |
| Return on Assets (ROA) |
| Earning revenue: Asset Turnover (ATO) |
| Controlling expenses |
| Net Profit Margin (NPM) |
| Gross Profit Margin (GPM) |
| Non-financial information |
| Strategies to improve profitability |
| Assessing |
| Working Capital Ratio (WCR) |
| Quick Asset Ratio (QAR) |
| Cash Flow Cover (CFC) |
| The speed of liquidity |
| Inventory Turnover (ITO |
| Accounts Receivable Turnover (ARTO) |
| Accounts Payable Turnover (APTO) |
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