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Accounting 101 with Jimmy Stewart - Podcast

Accounting 101 with Jimmy Stewart

 James Stewart

Accounting 101 Podcast by James Edward Stewart, CPA/ABV, CFE

Courses Education
Update frequency
every 7 days
Average duration
13 minutes
Episodes
18
Years Active
2018 - 2019
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17 - The Objectives of Financial Reporting & Concepts of Accrual Accounting

17 - The Objectives of Financial Reporting & Concepts of Accrual Accounting

I've read a lot of boring stuff so that you don't have to! Today we will summarize some of the useful information in the FASB Concepts Statements and other literature. 

This information will be usefu…

00:14:30  |   Mon 23 Dec 2019
16 - Closing the Books at the End of the Period (The Closing Process)

16 - Closing the Books at the End of the Period (The Closing Process)

Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and computer expense of $30,000 (net income of $30,000). You also contributed $10,000 to…

00:11:43  |   Sat 02 Feb 2019
15 - Adjusting Journal Entries (The Adjusting Process)

15 - Adjusting Journal Entries (The Adjusting Process)

 Today we will go over the adjusting process. This is where we make our adjusting journal entries to get from our unadjusted trial balance to our adjusted trial balance, which contains the figures we…

00:09:40  |   Sat 26 Jan 2019
14 - An Overview of the Accounting Cycle

14 - An Overview of the Accounting Cycle

Today we will discuss the accounting cycle. This is the process taken each period to record transactions, prepare the financial statements, and to reset the temporary accounts to zero for the next pe…

00:06:55  |   Sat 19 Jan 2019
13 - How to Dominate Indirect Cash Flow Statements (Fake Cash Method)

13 - How to Dominate Indirect Cash Flow Statements (Fake Cash Method)

Example # 1

Our Accounts Receivable balance increased by $20,000 from the end of last period to the end of this period.

1. Accounts Receivable is an asset, so it must be debited to increase its balan…

00:11:01  |   Sat 12 Jan 2019
12 - FIFO & LIFO (Cost Layering Methods)

12 - FIFO & LIFO (Cost Layering Methods)

Today we will discuss the cost layering methods that are used within the periodic and perpetual inventory systems. Assumptions for purchases: 50 units purchased on January 1 at $10 each (50 x $10 =…
00:26:08  |   Fri 07 Dec 2018
11 - Perpetual & Periodic Inventory Methods & Cost of Goods Sold

11 - Perpetual & Periodic Inventory Methods & Cost of Goods Sold

In this episode, we will cover the journal entries made when using the perpetual and periodic inventory methods, and we will also go over the formula and journal entry to record cost of goods sold un…
00:17:13  |   Sun 25 Nov 2018
10 - Depreciation, Amortization, & Fixed Assets

10 - Depreciation, Amortization, & Fixed Assets

Today we tackle depreciation and amortization, and we discuss fixed assets. Facts for following examples: Asset cost of $85,000, salvage value of $10,000, and a useful life of 5 years. Note: "Depr"…
00:28:00  |   Sat 10 Nov 2018
9 - Unearned Revenue (Deferred Revenue)

9 - Unearned Revenue (Deferred Revenue)

In this episode, we discuss unearned revenue.
00:07:59  |   Sun 04 Nov 2018
8 - Prepaid Expenses (Prepaid Assets)

8 - Prepaid Expenses (Prepaid Assets)

Today we will discuss prepaid assets, and do some examples with journal entries.
00:07:17  |   Sun 28 Oct 2018
7 - Accounts Payable - Purchases, Payments, Discounts, & Agings

7 - Accounts Payable - Purchases, Payments, Discounts, & Agings

In this episode, we will discuss accounts payable and journal entries related to accounts payable.
00:13:48  |   Mon 22 Oct 2018
6 - Accounts Receivable - Sales, Collections, Discounts, Agings, & Write-Offs

6 - Accounts Receivable - Sales, Collections, Discounts, Agings, & Write-Offs

In this episode, we will describe accounts receivable, and we will go over journal entries related to accounts receivable.
00:13:45  |   Sun 21 Oct 2018
5 - Contra Accounts - Understanding Them & Examples

5 - Contra Accounts - Understanding Them & Examples

Today we will explain contra accounts, and we will also do some examples to demonstrate how the debits and credits work.
00:16:21  |   Sat 13 Oct 2018
4 - An Introduction to Financial Statements

4 - An Introduction to Financial Statements

In this episode, we will briefly discuss the four main financial statements in accounting: the balance sheet, income statement, statement of owner's equity, and statement of cash flows.
00:23:01  |   Sat 06 Oct 2018
3 - General Ledgers & Trial Balances

3 - General Ledgers & Trial Balances

In this episode, we discuss the flow of accounting from how our journal entries are recorded in the general ledger, summarized in the trial balance, and then presented on the financial statements and…
00:12:06  |   Sat 29 Sep 2018
2 - A|LE-R|E & Journal Entries

2 - A|LE-R|E & Journal Entries

In this episode, we discuss how each type of account in ALE-RE is affected by journal entries, and we learn the debit/credit language of accounting using A|LE-R|E. The lines separate the types of acc…
00:17:01  |   Mon 10 Sep 2018
1 - Assets, Liabilities, Equity, Revenue, & Expenses (ALE-RE)

1 - Assets, Liabilities, Equity, Revenue, & Expenses (ALE-RE)

In this episode, we briefly discuss each type of account in accounting: Assets, Liabilities, Equity, Revenue, and Expenses.
00:06:56  |   Mon 10 Sep 2018
0 - Introduction

0 - Introduction

Hi Everyone, Welcome to Accounting 101 with Jimmy Stewart. I hope to explain accounting to you the way I wish someone had explained it to me when I first started out. This isn't meant to be your only…

00:02:46  |   Mon 10 Sep 2018
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