136 pages [55 self-teaching + 81 self-quizzes with detailed answers]
Section 1: Why we use accruals, deferrals and other adjustments. The difference between cash basis and accrual basis accounting.
Section 2: Accrued revenue. How to record accrued revenue. Examples of different kinds of accrued revenue. Computing and accruing interest receivable. How failure to accrue revenue affects the financial statements.
Section 3: Accrued expenses. How to record accrued expenses. Examples of different kinds of accrued expenses. Computing and recording interest payable. How failure to accrue expenses affects the financial statements.
Section 4: Revenue collected in advance (unearned revenue). How to record unearned revenue. How to accrue revenue earned when the revenue collected was originally recorded in a revenue account v. an unearned revenue account.
Section 5: Prepaid (deferred) expenses. Recording prepayments and adjustments. How to accrue expenses when prepayments were recorded in an expense account v. a prepaid (asset) account.
Section 6: Other adjusting entries. How to compute and record the adjusting entry for bad debt expense for tax purposes v. book purposes. Adjusting entries for depreciation and various cash accounts.
Section 7: From unadjusted to adjusted trial balance. The chart of accounts. Preparing the unadjusted trial balance, entering the adjustments and preparing the adjusted trial balance. A summary of how the adjusted trial balance is used to prepare the income statement, balance sheet and statement of retained earnings. Basics of the post-closing trial balance.
Publisher: AIPB
Anonymous –
5/5.
I have enjoyed working through the text and exercises in this book – which I purchased after finishing Mastering Double-Entry Bookkeeping. I feel that I have come away with a good understanding of the subject, and I am more confident doing my job as a result.
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Brandon Nelson –
A key component of the accounting cycle, where many students get stuck on what can be (from an accrual perspective) rather abstract concepts, this book cuts right to the quick without sacrificing necessary knowledge. You’ll come away with a much clearer understanding of this vital accounting concept after finishing this book!
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Dennis Alexander –
Great review of college accounting course.
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ShaShauna T. McIver –
Course book has plenty of real-world scenarios from which to review and practice accounting concepts learned from the material.
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Rebecca Peterson –
This was a challenging course for anyone who doesn’t do manual bookkeeping. Understanding the underlying concepts is foundational and helpful. However, the actual practice of bookkeeping is more modern and it would be helpful for these courses to be updated.
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Christopher Mann –
I have greatly enjoyed reading through the book’s tutorials and completing the quizzes. I now have a much clearer understanding of adjusting entries and why they are essential in bookkeeping.
(5 star rating)
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Sherry Ibrahim –
Very informative and pays attention to detail but needs more exercises and final examination answers. Thanks for your efforts. Sherry
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Richard Rodriguez –
This study guide was put together in an excellent simple & comprehensive way to master.
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YVONNE STEPHENSON –
The course provided fundamental information, however the textbook was dry and one dimensional. A complementary workbook and/or a video/cd lecture would have been a great enhancement. This would allow for listening to the material then reading it, then working the problems.
AIPB note: This course is now available as an online course with an instructor.
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Dennis Alexander –
Great text.
Great review of what I learned in college,
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carolyn –
This was useful material over all but I struggled with some of the sections of this material.
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Hayk –
Very usefull material. Helped me to pass AIPB adjusting entries exam with more than 90% score
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Vicky Phillips –
Very good explanations and examples to go over and to go back to when doing the questions
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Sheikh Hossain –
Good material for learning accounting.
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Bethany Watts –
It’s a good course.
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Sheikh Hossain –
Easy to learn and effective.
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Ragin –
Easy to follow and understand. I appreciate having the double quizzes at the end of each chapter to test and help solidify the skills.
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Ferris Bruton –
I like the course intend to take final exam
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Jayne Franzino Romero –
This is a rigorous and detailed self-study. I would like tutoring on it though working through the notebook is something that is feasible, it just takes quite a bit of concentration.
However, the material is interesting and it is the first self-study bookkeeping course that has real world bookkeeping information. Wonderful course.
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Crystal Givens –
Same as the other book, Mastering Double-Entry Bookkeeping. I found it very informative, but I did not like that when I download the books, it downloads as a solid graphic and not as a graphic with text. This didn’t allow me, who has vision problems, to listen to them with a text reader as well as reading. It took me a lot longer than normal to process the book than I would have otherwise. It would also be nice if videos and other interactive demonstrations were provided with the course. Very limited to be online in book format.
AIPB note: This course is now available as an online course with an instructor.
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Beth Axe –
Good course, straightforward.
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Evelyn Baldo –
Interesting and informative
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Mohamed Helemish –
The course is very good but needs more practice questions
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Denise Fields –
What I have found out with Adjusting Entries, as you read the book write on your note pad key information about the adjusting process and when to apply each step.
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Ariel L O’Heeron –
I was pleasantly surprised at my score! The test was difficult which I appreciated because I felt that if it had been too easy, I might not have learned enough or that there would be gaps in my knowledge on this subject.
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Alexandra –
Easy to follow
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Yvonne Stephenson –
The information was presented in a concise and easy to understand manner. However, an accompanying CD would really boost this course. Said CD would be a fitting substituted for a lecture.
AIPB note: This course is now available as an online course with an instructor.
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Patricia Hile –
This book has been extremely beneficial. The format is perfect. It will be a great reference book.
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Mittal Patel –
I really like the way it explained in details,
Easily understandable.
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PRAVIN PATEL –
great, informative and helpful
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