Guides
Guides to the things people get stuck on.
Each guide explains one topic properly, with a worked example, and links to graded practice — because reading about a bank reconciliation isn't the same as doing one.
Foundations
Debits and credits explained, with the one rule you need
Why assets increase with debits and liabilities with credits, how to remember it, and worked examples of the entries beginners get wrong most often.
How to record a journal entry: a three-question method
A dependable method for turning any business transaction into a balanced journal entry, with worked examples from invoices, payments and payroll.
The accounting equation: how every transaction stays in balance
Assets = liabilities + equity, explained properly: what each element means, the expanded equation, a nine-transaction worked example and the mistakes that throw it out of balance.
Accrual accounting vs cash accounting: why profit isn't cash
What the accrual basis means, how it differs from cash accounting, the four kinds of accrual and deferral, and a worked month showing exactly why profit and cash flow differ.
Month end
Bank reconciliation, step by step (with a worked example)
How to reconcile a bank statement to the cash account: timing differences, bank-only items, errors, and the journal entries the books need.
Adjusting journal entries: accruals, deferrals and depreciation
What adjusting entries are, the four types every period-end needs, how to calculate them, and how a missing adjustment distorts profit.
How to prepare a trial balance — and find the difference when it won't agree
What a trial balance is, how to prepare one from the ledger, what it proves and what it can't, and practical techniques for tracing a difference, with worked examples.
Assets
Inventory valuation: FIFO, weighted average, LIFO and net realisable value
How inventory cost is measured, how FIFO, weighted average and LIFO compare on the same purchases, why IFRS prohibits LIFO, and how to calculate and record a write-down to net realisable value.
Depreciation methods explained, with a full worked schedule
Straight-line, reducing balance and units of production on one asset, plus residual values, part-year depreciation, changes in estimates and the disposal entry — all with worked figures.
Financial statements
The four financial statements and how they connect
What the income statement, statement of financial position, statement of changes in equity and cash flow statement each show, with one worked company whose figures tie across all four.
How to prepare a cash flow statement: the indirect method, step by step
Build a statement of cash flows from an income statement and two balance sheets, cross-check it with the direct method, and see how IAS 7 classification changes from 2027 under IFRS 18.
Standards and careers
Accounting interview preparation: the practical tests and how to pass them
What accounting interviews actually test, the practical exercises employers set, common technical questions with model answers, and a two-week preparation plan.
IFRS fundamentals: the framework, the key standards and what changes when
What IFRS is and who sets it, the Conceptual Framework, a map of the main standards by topic, headline differences from US GAAP, and the effective dates to watch, including IFRS 18 from 2027.