It's been more than 20 years since the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its Internal Control—Integrated Framework (the original framework). The new framework will become effective in December 2014. Professionals must first obtain a basic understanding of the concepts, principles and potential impact, including changes from the 1992 framework and the key COSO components and related principles. COSO 2013 maintains the same five components previously identified within the 1992 framework.  These include: Control Environment Risk Assessment Control Activities Information & Communication Monitoring This course is designed to focus on the Control Activity component and the three separate principles that support this component. Control Activity is named as the third component within COSO 2013. Control Activities are actions defined through policies and procedures that help ensure management directives to mitigate risks to the achievement of objectives are carried out.  Control activities are performed at all levels of the organization and at various stages of business processes and technology. The organization selects and develops control activities that contribute to the mitigation of risks to the achievement of objectives to acceptable levels. The organization selects and develops general control activities over technology to support the achievement of objectives. The organization deploys control activities through policies that establish what is expected and procedures that put policies into place. Management and the external auditors must understand each of these principles and be able to adequately support that they exist, are appropriately designed and functioning.  In addition, the components must effectively work in combination to provide for a positive attestation to internal controls. The course dissects the three principles and important concepts that companies need to understand and support in order to provide that the principles are in place and functioning.  We also discuss concepts related to mapping the principles to controls within the organization. If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: COSO 2013 Control Activity Compliance . Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.

This course "Accounting 103 - The Special Journals & Subsidiary Ledgers" is Part 3 out of a series of courses that are designed to help the complete beginner (someone who has no knowledge of accounting) master the basics of accounting and move on step by step to becoming a professional accountant! The course is not just theory but takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment. This is a slow moving course. Please do not expect me to move fast since it is designed for the beginner student. Those students who are already aware of accounting concepts should take a more advanced level course instead. In this course we are going to learn: What are the Special Journals? How to post to the Special Journals? Posting To The Sales Journal Posting To The Sales Return Journal Posting To The Purchase Journal Posting To The Purchase Return Journal Creating the Subsidiary Ledgers Posting To The Cash Book Posting To The Bank Book Get Awesome Practice in the process Having completed the entire series students of the proper age would be able to take up entry level jobs as Book Keepers and/or Accountants, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.

Hi I'm Philip! I'm a professional CPA instructor and creator of Breezy CPA Review. Join me in helping you better understand Auditing and if you're studying a CPA, this course can help you pass. This course is meant for everyone no matter what your accounting level, so no excuses...come take a look! No matter your career path, everyone should understand the basics of accounting. Start here with a straightforward walk-through of the Auditing Process. All are welcome to this introduction to the world of accounting — Philip explains each spreadsheet in plain language, ensuring you walk away with the ability to understand essential financial information. After taking this class, you'll have a better understanding of the Auditing process no matter what your skill level is.

Yes, learning ACCOUNTING can be EASY, FAST, and FUN! Yes, you can learn ACCOUNTING even if you don’t like MATH! Learn business English terminology and how to pronounce the words properly. Guaranteed to teach you more about accounting in less time than any other course. Stop! Take this course BEFORE you take any other accounting course so that you will be well-prepared for more advanced concepts. This is not a boring lecture-style course. This course uses the most modern and innovative experiential-learning methods to keep you engaged from start to finish. Key concepts are presented in fun and interesting ways that ensure you’ll understand and know how to apply them right away. You’ll even run a virtual business in a simulation game! For business OWNERS, business MANAGERS, and STUDENTS. The perfect first course to learn the basics.  And, be prepared to better understand how accounting software works, like QuickBooks, Sage, MYOB, FreshBooks, Wave, Netsuite, Zoho, Xero, SAP, and more. Use your new accounting skills to improve your personal finances, earn money offering bookkeeping services, get a job promotion, or manage your own business. Includes video explanations, an easy-to-read Business Learning & Activity Book , and free access to a GoVenture business simulation game for 6 months. You get to actually PRACTICE ACCOUNTING! Your ACCOUNTING journey starts here … let's get started!

This instructor facilitates the process of understanding the cashflow statement - providing details between the inflows and outflows during a given period of time. Plus tips are provided to keep your organization in the $$$.- Edie (Student) You are thinking about your business idea but the thought of putting together some financial leaves you in utter paralyses. Perhaps you want a quick way of getting your cash-flow projections together. Or you might even be a seasoned business owner who is seeking some fresh insight on how to create a cash-flow forecast. If any of these apply to you then you are in the right place! Since cash is king then the flow of cash in and out of the business is the life blood! For those not sure of the exact amount needed to start their business; a cash-flow is the answer. For existing businesses that need financial re-engineering; a cash-flow is the answer as well. If you are looking for a reality check on your business viability; then a cash-flow is the answer too. In these videos you will actually watch me build a cashflow forecast from scratch! These look over my shoulder series of videos will enable you to capture the essential skills necessary to create your own cashflow projections.

Master budget construction, including demonstration problems, excel worksheets, practice test questions, discussion questions, and a comprehensive problem we work together using Excel in a step by step format. The course will provide a managerial accounting overview, comparing managerial accounting and financial accounting, and providing essential managerial accounting tools we will need in the budgeting process. We will discuss methods of budget timing and the pros and cons of each technique. The course will discuss the characteristics and functions of the budget committee. We will discuss the components of a master budget and break it out into its parts, listing the order that those components need to be completed in. The course will discuss how to put together a sales budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. We will discuss how to put together a production budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. The course will discuss how to put together a materials budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. We will discuss how to put together a direct labor budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. The course will discuss how to put together a factory overhead budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. We will discuss how to put together a general and administrative budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. The course will discuss how to put together a cash budget and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. We will discuss how to put together a budgeted cost of goods manufactured statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. The course will discuss how to put together a budgeted cost of goods sold statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. We will discuss how to put together a budgeted income statement and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. The course will discuss how to put together a budgeted balance sheet and will also walk through a step by step process using preformatted Excel worksheets for learners to follow along with. We will also go over a comprehensive problem in Excel so we can see all the components of the master budget and work through them in one place.

This course will use free accounting software which is an excellent tool to practice with. This course will jump right into bank feeds and how to use them. Many accounting software courses will spend a lot of time talking about how a full-service accounting system works. We do recommend spending time learning the full accounting process, and we do have courses that do just that. However, many small businesses want to get right down to data input as fast as possible, and others already have a good understanding of the system and want to focus specifically on bank feeds. We will focus on bank feeds in this course. For example, some small businesses may be perfectly happy using a cash basis system and will, therefore, not need some of the functions used in a full accounting cycle. Businesses that use a cash basis model can structure their data input to be much more heavily dependent on the bank and bank feed data. We will discuss types of businesses that fit well into a cash basis model as we work through the practice problems. We will also discuss some problem areas many businesses have and how to set up a system that works for them. This course will work through a practice problem and will provide test data that learners can use in their system to follow along if they choose.

WAVE Accounting / Bookkeeping software - Computerised Accounts course is about how to use WAVE based on the most popular functions which you as a WAVE operator needs to know how to use, in order to be proficient in using the software. The learning is structured in a practical way. You are given a practical scenario assignment. There are various tasks to complete. You are given the task to do and have a go at, and then the video answer is available. It is suggested that you: Read the task Watch the video Have a go at it yourself on your own system Rewatch the video (if necessary) - to reinforce the learning You'll learn how to set up a Tally accounting system from scratch, how to enter opening balances, post customer invoices and credit notes, post supplier bills and credit notes, pay suppliers, petty cash, prepare a VAT return, reconcile the bank, post journals, run reports amongst over things. This is a useful course if: You are thinking of working with the software, You are going for jobs which have a requirement for you to be able to use this software You want to put this skill on your CV, or You are a bookkeeper or accountant and will be using this for clients or even You run your own business and want to know how to use WAVE for yourself. You will need to have access to WAVE. You can sign up to the WAVE site to get a free trial. We give you the link in lecture one and show you how to do this. The instructor is usually online to answer student queries for 2 hours each day. The course materials includes the handout of the assignment task. Successful completion of the course is the equivalent to being at the level of having a level 2 certificate in computerised accounts. The course will take about 3-4 hours to complete.

What is Accounts Payable (AP) Workflow? How is it different from a Document Management system? The differences between the two are explored in this course. Discover the different functionality AP Workflow systems can supply including Purchase Order validation, confirmation of account coding and compliance to company specific approval and other business rules. In this accounts payable training you will learn what due diligence should be performed by the company to identify, and then record, requirements for an Accounts Payable Workflow system. Discover who should be on the steering committee and project teams. And since an Accounts Payable Workflow tool is not just about Accounts Payable, this discussion will include the role of IT throughout the implementation process. We will also identify the groups of employees who will need access to the system and others who may benefit by being set up as users. Change management is key in implementing any new system. Discover the steps needed to communicate such an implementation to vendors and to any employees who are involved in the Procure to Pay Work Stream, receive invoices directly from vendors today, or have invoice approval responsibilities.

This accounts receivable training covers the proper accounting for receivables and related issues surrounding uncollectible accounts/bad debts. A brief discussion of the direct write-off method will explain why the allowance method is the better approach. The subtle differences between the Balance Sheet approach vs. the Income Statement approach are presented. Additionally, simple interest on notes receivable are calculated and detailed examples are provided.