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AccountingCoach.com was developed by Harold Averkamp, a university senior lecturer emeritus and consultant known for his ability to explain material in a clear manner.

Mr. Averkamp realized that the Internet would allow him to share his knowledge and passion for teaching accounting with people throughout the world in a convenient, cost-effective manner. The combination of educator, consultant, real-world examples, and computer links provide for an ease in understanding. Read More...

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Questions and Answers Blog

05/16	What is apportionment? An apportionment is an allocation based on some proportions. I associate the term ap..
05/14	What adjustment is needed when a check that was written in a previous .. A check written in any previous month but not appearing on previous bank statements,..
05/12	Is the sales tax on merchandise purchased for resale included in inven.. In our state, sales tax is paid only by the end customer. In other words, a retailer..
05/09	What is meant by overabsorbed? Overabsorbed is usually used in the context of a manufacturer's production overhead ..
05/07	What is the difference between cost and expense? A cost might be an expense or it might be an asset. An expense is a cost that has ex..

Accounting Basics	Learn accounting principles, introduction to financial statements, debits and credits.
Accounting Degree	Learn about selecting the right college for earning your accounting degree, the CPA Exam, and accounting job opportunities held by people with accounting degrees.
Accounting Equation	Learn how transactions affect the accounting equation, balance sheet, and income statement. See the connection between the accounting equation and debits and credits.
Accounting Principles	Learn accounting principles (matching, cost, conservatism, etc.), impact on financial statements.
Activity Based Costing	Comparison of Activity Based Costing (ABC) to traditional allocation of manufacturing overhead.
Adjusting Entries	Accruals and deferrals (prepayments) necessary for accrual accounting.
Balance Sheet	Assets, liabilities, owner's equity, current vs. long-term.
Bank Reconciliation	Outstanding checks, deposits in transit, bank charges, NSF checks, journal entries.
Bookkeeping	Introduction to double entry bookkeeping, debits and credits, trial balance, and chart of accounts.
Break-even Point	Fixed and variable expenses, contribution margin, and desired profit.
Cash Flow Statement	Tips for learning indirect method, format, illustration of transactions' effect on the statement, relationship to income statement and balance sheet.
Chart of Accounts	Samples, account descriptions.
Debits and Credits	Learn accounting's double entry system. Tips for learning debits and credits, T-accounts, and sample journal entries are provided.
Depreciation	Straight-line, journal entries, use of estimates, accelerated depreciation.
Evaluating Business Investments	Capital expenditures, rate of return, payback, net present value, internal rate of return.
Financial Accounting NEW	Learn about financial reporting and financial statements. Introduction to the role of FASB and SEC.
Financial Ratios	Common-size balance sheet and income statement, current ratio, quick ratio, accounts receivable and inventory turnover ratios, profitability ratios.
Improving Profits	Relevant amounts for analyzing, business stories to illustrate profit improvement.
Income Statement	Revenues, gains, expenses, losses, formats, reporting unusual items.
Inventory and Cost of Goods Sold	Learn accounting's cost flow assumptions: periodic FIFO, LIFO, weighted average. Perpetual FIFO, LIFO, moving average. Estimating inventory methods.
Lower of Cost or Market	Conservatism, losses, replacement cost, net realizable value, normal profit.
Manufacturing Overhead	Examples of manufacturing overhead; allocation of overhead via direct labor, and via departmental machine hours.
Nonmanufacturing Overhead	Examples of selling, general, and administrative costs. Assigning nonmanufacturing costs to products and customers for pricing and other decisions.
Payroll Accounting	Salaries, wages, overtime pay, Social Security and Medicare taxes (FICA), unemployment taxes, fringe benefits, sample journal entries.
Present Value of an Ordinary Annuity	Time value of money and compounding of interest of a series of equal amounts at equal time intervals. Illustrations for calculating the present value of an ordinary annuity, the amount of each payment, the number of payments, or the interest rate. Amortization of interest/discount.
Present Value of a Single Amount	Time value of money and compounding of interest of a single amount. Illustrations for calculating the present value of a future cash amount, unknown interest rate, or length of time. Amortization of discount.
Standard Costing	Direct materials price and usage variances, direct labor rate and efficiency variances, manufacturing overhead volume, efficiency, spending, and budget variances. Disposing of variance amounts.
Stockholders' Equity	Corporations, common stock, paid-in capital, retained earnings, treasury stock, stock splits, stock dividends, preferred stock, book value.

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