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
Benjamin –
Clear and concise
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Shaharier –
I got much help from this book. I recommend to anyone to read this book.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Virginia –
Great content but written a little more advanced than my skill level. I had to go online to fill in some of the gaps in my training. Perhaps students should be tested on their skills before receiving this course.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Amy –
There were alot of redundancies as far as cover the material then test and then further quiz on the material. Overall though very easy to explain and understand.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Jennie –
Very useful examples provided to help illustrate key points. Clear instructions. Course is practical to the profession today.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Amina –
I found the text to be easy to understand and assimilate.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Tianrong –
Helped me a lot.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Elizabeth –
A very well-written and comprehensive review.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Shari –
Very clear and easy to follow
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Barry –
Found the book to be very detailed.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Cynthia –
Great refresher course!
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Oliver –
Good resource. I found all exercises at a good level of difficulty. I would like this book included something about adjusting entries to intangible assets.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Evan –
Perfect workbook.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Jing –
very good
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Jing –
very good
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Lisa –
Good Information
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Iryna –
Great
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Miguel –
We are always adjusting
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Tenia –
Very easy to understand. Plenty of practice. I really enjoyed studying from this book. Great tool to use for teaching yourself or even just brushing up.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
G –
Excellent course very informative.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Elaine –
I finished the material just need to restudy this to take the final.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Stephen –
Very good class, but I have been working as an independent contractor to take the test. Still studying when I get the chance.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Phillip –
Satisfied with the overall experience.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Joanne –
lots of good information
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Heather –
Very informative and easy to follow.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Adrienne –
Not for a beginner! Course presumes you have working experience or schooling.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Tod –
I took this course after the intro double-entry and found that this really reinforced what I had learned as well as gave me the necessary skills to conduct year-end posting. This book does not cover closing entries, however it does do a good job introducing financial statements.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Susanne –
Very helpful
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Lucy –
This book is outstanding. I have enjoyed it. I am finishing it up now.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
John –
Very clear and to the point.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal