Excellence WorkAT THE SUMMIT, YOU WILL BE ABLE TO
EXCELLENCE WORK
Accounting, Explained
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Learn the accountant's craft by doing it: keep the accounting equation balanced, post debits and credits and fix a trial balance that won't balance, read an income statement, a balance sheet and a cash flow statement line by line, book accrual adjustments and straight-line depreciation, cost inventory with FIFO, LIFO and average cost, run a 2026 paycheck with FICA and FUTA, compute the ratios a lender reads, find break-even on a graph, spot the duty no one person should hold, and map your route to the CPA license with real pay and outlook figures.
3h 16m5 constellations
01Record transactions with debits and credits, and fix a trial balance
02Read an income statement, a balance sheet and a cash flow statement
03Make adjusting entries and compute straight-line depreciation
04Cost inventory with FIFO, LIFO and average, and run a payroll at 2026 rates
05Compute ratios and break-even, and spot weak internal controls
Every lesson of Accounting, Explained
15 lessons in 5 levels, about 3 hours. Level 1 is free.
Level 1The Language of BusinessFree · 3 lessons
- What Accountants DoKnow what accountants and auditors do, the two branches of accounting, and the equation every record keeps true.12 min
- Debits and CreditsKnow which side increases each kind of account, and find an account's balance.13 min
- Journal, Ledger, Trial BalanceRecord an entry, follow it through the ledger, and use a trial balance to catch errors.13 min
Level 2The Three StatementsMembership · 3 lessons
- The Income StatementRead an income statement from sales down to net income, and compute each step.12 min
- The Balance SheetRead a balance sheet, sort current from long-term, and compute total assets and working capital.13 min
- Cash Flow, and How It All FitsSort cash into operating, investing and financing, and see why profit isn't cash.13 min
Level 3Accrual, Adjustments, DepreciationMembership · 3 lessons
- Accrual Versus Cash BasisKnow when revenue and expenses count under the accrual and cash methods, and why the matching principle matters.13 min
- Adjusting EntriesRecord the four kinds of period-end adjustments with the right accounts and amounts.13 min
- Depreciation, Straight-LineCompute straight-line depreciation and book value, and know what can't be depreciated.13 min
Level 4Inventory, Payroll and RatiosMembership · 3 lessons
- Inventory: FIFO, LIFO, AverageCompute cost of goods sold under FIFO, LIFO and weighted average, and know what rising prices do to each.13 min
- Payroll BasicsTurn gross pay into net pay, and know what the employer owes on top, at 2026 federal rates.13 min
- Ratios That Read a BusinessCompute and interpret liquidity, solvency, efficiency and profitability ratios.13 min
Level 5Decisions, Controls and the CPAMembership · 3 lessons
- Cost Behavior and Break-EvenSort fixed, variable and mixed costs, and find the break-even point by formula and on a graph.14 min
- Internal Controls and FraudExplain the fraud triangle, spot a weak control, and know what the Sarbanes-Oxley Act requires.14 min
- The CPA Path and Final TestKnow the accountant's career: education, the CPA license, pay and outlook, then prove the whole path.14 min
AFTER THE CORE