Financial Accounting Subsidiary Ledgers & Special Journals (Udemy.com)

Subsidiary ledgers for accounts receivable & accounts payable. Special Journals - Sales journal, purchases journal

Created by: Robert (Bob) Steele

Produced in 2019

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What you will learn

  • Subsidiary Ledgers
  • Special Journals
  • Sales Journal
  • Purchases Journal
  • Cash Receipts Journal
  • Cash Payments Journal
  • Excel
  • Accounting Cycle

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Quality Score

Content Quality
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Video Quality
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Qualified Instructor
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Course Pace
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Course Depth & Coverage
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Overall Score : 86 / 100

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Course Description

We record transactions using special journals and track accounts receivable by customer and accounts payable by vendor using subsidiary ledger.

We should have a good understanding of debits and credits before this course and we have courses covering debits and credits. We can construct anaccounting system where we record every financial transaction using debits and credits in a general journal, posting each journal entry to the general ledger, making the trial balance form the general ledger, and the financial statements from the trial balance. The process of recording every transaction using debits and credits is the process we have used in the past.

To reduce the amount of data input when using a manual system, we can group transactions by transaction type and create special journals to record them. An accounting system using special journals can reduce data input by limiting the amount data needed to be input for each transaction due to the format of the special journal. Special journals can also eliminate the need to post each transaction to the general ledger. Rather than posting each transaction to the generalledger special journals are added up at the end of the period and one transaction is then posted for the entire period.

Special journals are typically used in a manual system but understanding them helps any system because it helps to see what components of an accounting system are necessary to all accounting systems, which components can be changed, and when changing the format of the system would be beneficial. Automated systems also often general useful reports in a similar format as the special journals.

Subsidiary ledgers for accounts receivable and accounts payable are necessaryfor any system where we makesales on account and purchases on account. In other words, if we make sales and collect money at a later date, we will need to track who owes us money, and if we make purchases and pay at a later date, we will need to track who we owe money to.

In addition to instructional video, this course will include downloadable

Downloadable PDF Files

Excel Practice Files

Multiple Choice Practice Questions

Short Calculation Practice Questions

Discussion Questions

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:

CPA Certified Public Accountant

CGMA Chartered Global Management Accountant

Master of Science in Taxation

CPS Certifies Post-Secondary Instructor

Curriculum Development Export

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:
Accounts receivable subsidiary ledgerAccounts payable subsidiary ledgerSpecial journalsSales journalPurchases journalCash receipts journalCash payment journalAccounting CycleComprehensive problemExcelDefinitions and key termWho this course is for:
Accounting studentsBusiness ownerAnyone who whats to learn accounting

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Instructor Details

Robert (Bob) Steele

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 Bachelors 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

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Reviews

4.3

24 total reviews

5 star 4 star 3 star 2 star 1 star
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By Somargho Sen on 9/18/2020

Great Learning!

By Deborah Obison on 8/25/2020

yes it was good

By Gay Dawn Farace-Mann on 8/20/2020

Very good and easy to understand.

By Soujanya Kalva on 6/14/2020

Instructor was really very good at explaining in detail of each and every bit of the course. I would highly recommend this course to everyone who are looking to learn in depth about the special journals and subsidiary ledgers.

By Yasha Vala on 6/10/2020

Good

By Shubham Gangadhar Labade on 5/26/2020

ITS VERY GOOD

By Aditya Singh on 5/22/2020

i have learned lot of account as a commerce student.

By Manish on 5/21/2020

good

By Rupasundar Reddy Pulluru on 5/17/2020

It is very excellent course. it is useful for extend of our knowledge and increasing of our standards.

By Nandini Kumar on 5/8/2020

It was understandable.

By S Kavitha on 4/5/2020

This course was helpful to recall all the concepts.

By S Yuvaraj on 3/22/2020

well explain about the concept