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Accounting QUEST
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Track 13 · Applied

Industry Accounting Cases

Complete cases in ten fictional businesses, each with the accounting issues that make its industry different.

Lessons
10
Exercises
87
Time
8 h 45 min

Module 1

Industries

  1. 01

    Retail: inventory, returns and loyalty points

    Account for a retailer's month including inventory shrinkage and returns.

    Journal entries · Worksheets · Calculations

    Members1 h
  2. 02

    Manufacturing: work in progress and overhead

    Account for raw materials, WIP and finished goods.

    Journal entries · Worksheets · Calculations · Classification · Simulator

    Members1 h
  3. 03

    Professional services: unbilled work

    Recognise revenue on time-and-materials engagements.

    Journal entries · Worksheets · Calculations · Classification

    Members45 min
  4. 04

    SaaS: subscriptions and deferred revenue

    Account for annual subscriptions billed in advance and contract costs.

    Journal entries · Worksheets · Calculations · Classification · Simulator · IFRS 15.60–65, IFRS 15.91–94

    Members45 min
  5. 05

    Real estate: rental income and investment property

    Account for leases, deposits and investment property.

    Journal entries · Worksheets · Calculations · Classification

    Members1 h
  6. 06

    Hospitality: deposits and daily revenue

    Account for advance bookings, cancellations and daily sales reports.

    Journal entries · Worksheets · Calculations · Classification · IFRS 15.B44–B47

    Members45 min
  7. 07

    E-commerce: payment platforms and returns

    Reconcile payment-platform settlements, fees and returns.

    Journal entries · Worksheets · Calculations · Classification

    Members45 min
  8. 08

    Logistics: fleet costs and fuel

    Account for vehicles, fuel cards and maintenance.

    Journal entries · Worksheets · Calculations · Classification · Concept checks · Simulator

    Members45 min
  9. 09

    Construction: contracts over time

    Recognise contract revenue over time and contract assets and liabilities.

    Journal entries · Worksheets · Calculations · Sequencing · Simulator · IFRS 15.18–21, IFRS 15.35, IAS 37 (onerous contracts)

    Members1 h
  10. 10

    Financial services: loans and interest income

    Account for loans to customers, interest income and expected credit losses.

    Journal entries · Worksheets · Calculations · Classification · Simulator

    Members1 h