Current Assets: Part II

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Part 1: Accounts Receivable

1. The Costs and Benefits of Selling on Credit
1.1 Credit Sales
1.2 Credit Cards

2. Accounting for Uncollectible Receivables
2.1 Direct Write-off Method

3. Alternative Approaches for Uncollectibles
3.1 Determining the Allowance Account
3.2 Writing off Uncollectible Accounts
3.3 Collection of an Account Previously Written off
3.4 Matching Achieved
3.5 Monitoring and Managing Accounts Receivable

4. Notes Receivable
4.1 Accounting for Notes Receivable
4.2 A Dishonoured Note
4.3 Notes and Adjusting Entries

Part 2: Inventory

5. The Components of Inventory
5.1 Determining Which Goods to Include in Inventory

6. Inventory Costing Methods
6.1 Determining the Cost of Ending Inventory
6.2 Costing Methods
6.3 First-in, First-out Calculations
6.4 Last-in, First-out Calculations
6.5 Weighted average Calculations
6.6 Preliminary Recap and Comparison
6.7 Detailed Illustrations
6.8 FiFO
6.9 LIFO
6.10 Weighted Average
6.11 Comparing Inventory Methods
6.12 Specific Identification

7. Perpetual Inventory Systems
7.1 Perpetual FIFO
7.2 Journal Entries
7.3 Perpetual LIFO
7.4 Moving Average

8. Lower of Cost or Market Adjustments
8.1 Measuring Market Value
8.2 Application of the Lower-of-Cost-or-Market Rule

9. Inventory Estimation Techniques
9.1 Gross Profit Method
9.2 Retail Method

10. Inventory Management

11. Inventory Errors