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Several of the exam questions have errors. It either seems like they were not proof-read, or they were written by AI. Some examples: Question 9: There is no "left side". The question would need to identify a document that we are looking at. While it is true that in the balance sheet, trial balance, and traditionally (but not always depending on the software) in journal entries, debits appear on the left and credits on the right, but in income statements, statements of stock-holder equity, JEs in some software, and arguably (but definitely a stretch to argue), the inverse could be true. 13: Supplies could be recorded as both an asset or an expense. B is more correct, but many companies expense supplies as purchased due to materiality Question 26: all of these per bank or per book questions are worded strangely. For this one, the wording makes it unclear if the student is intended to describe the interest added on the bank statement, or the JE that adjusted the books to match the bank. The Bank Rec would show both items before reconciling, and items that required reconciliation, so both would be present here. Question 30: while C and D are both wrong, they are also both the same answer. They both say "requires a correcting entry for the period in which the account was written off." Questions 31-33 are missing comma separators. 50: Should say "gross sales" or "Net Sales"/"sales Net of Returns". Im assuming by omiting the descriptor, you are referring to Gross sales, but the exam should test my knowledge, not my assumptions 54: NO answer is correct. Answer B is the total amount paid if the discount is applied to freight. However since freight is a pass through cost, sales discounts are not applied to freight. Answer A Removes the freight, then calculates the discount to sales. This would be the correct answer if the terms were FOB Destination, or if the question asked for "the total amount paid by the buyer to the vendor. However, since the terms are FOB Shipping, we would have to add back in the freight cost. Answer C ignores any discount even though the invoice was paid during the discount period. Answer D is the same as answer C, but also omits the shipping costs. Since the terms are FOB Shipping, and the question specifically asks for amount paid by the buyer and not received by the seller, freight costs must be included. They want you to select A, but since terms are FOB Shipping and it asks for amount paid by the buyer, not amount received by seller, you would need to add back the freight.

This was a very helpful review of the material usually covered in a first year accounting course. The instructor explains concepts clearly and in a way that is compelling. Most of the classes use worksheets instead of PowerPoint slides, which is a welcome change. The worksheets are designed so you can follow and work alongside the instructor. The "homework" exercises are very helpful in grasping the material and are accompanied by answer keys to check your work. The organization of the classes within the course can be a little confusing. It appears to be assembled from previous courses (for Udemy, for example), and the instructor will sometimes refer to a topic as something we already covered when it is later in the course the way Illumeo has it organized. This isn't much of an issue, but it took a minute to figure out what was going on. Overall, you really couldn't ask for a better course on these topics. It's concise, thorough and there's plenty of supporting materials (worksheets and exercises).

Some of the questions are improperly written and need to be reviewed. Specifically, the insinuation that any accounting event happens when transactions are invoiced (there is not accounting transaction upon sending or receiving an invoice; the event is only when services are rendered). A few other nits as well. Overall point - clean up the questions so that they pass muster for a public company accounting environment and not a small, private company Quick Books environment. Best for students to learn the right way rather than convenient short-cuts that they won't encounter in a real world SOX environment.

Some of the questions are improperly written and need to be reviewed. Specifically, the insinuation that any accounting event happens when transactions are invoiced (there is not accounting transaction upon sending or receiving an invoice; the event is only when services are rendered). A few other nits as well. Overall point - clean up the questions so that they pass muster for a public company accounting environment and not a small, private company Quick Books environment. Best for students to learn the right way rather than convenient short-cuts that they won't encounter in a real world SOX environment.

Very comprehensive for a back to basics course. This sort of longer course has it's inherit drawbacks. You will want to take notes on this one as key concepts will be tested and having to go back an review is difficult without a better fast forward button or nice reference slides. The supporting material needs to be improved for this course as it would complement the course nicely and be more useful for those of us having to do this in stages (we forget a few things). Overall a must see and one of the best on Illumeo.

It is easy to forget how much we need to retain to be effective accountants and CPA's. This course was a great refresher to lay out the steps and procedures so often taken for granted, performed by software, or performed by someone else. Things like certain depreciation methods, inventory costing methods, and the close cycle are all familiar but not always used, and there is value in re-visiting these topics so they don't become too rusty. I think this course is valuable both to fresh and seasoned CPAs.

After this course, Whether I'm a sole proprietor looking to manage your business finances or you simply want to gain an understanding of accounting basics for career advancement or for personal use, the courses in this bundle will give you a solid foundation in financial matters. If you're interested in increasing your financial awareness while also gaining a marketable skill, this series of courses is perfect for you.

Back to the Basics: Accounting Fundamentals Course Series is a comprehensive introduction to accounting principles. With clear explanations and practical examples, it covers essential topics like financial statements, debits and credits, and basic bookkeeping. Ideal for beginners or those seeking to refresh their knowledge, this series lays a solid foundation for understanding the language of business.

This course provided a comprehensive, deep-dive into the fundamentals of accounting. While much of the content served as a general refresher, there were several, less-familiar concepts that proved to be challenging. Nonetheless, the instructor presented content in an engaging way, The supporting materials were helpful; however, navigating through the various modules seemed a bit overwhelming at times.