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
Yanting –
Very easy to understand
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Pamela –
Some of the questions were worded in a way that was hard for me to understand.
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Kathy –
Course provided good check list of monthly adjusting entries that needed to be made.
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Amiee –
Very clear wording, easy to understand
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Moraeme –
The text and content is easy to read, and the information is very practical.
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James –
great set up of Correction of accounting Errors. passed test first try
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Benjamin –
Clear and concise
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Shaharier –
I got much help from this book. I recommend to anyone to read this book.
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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.
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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.
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Jennie –
Very useful examples provided to help illustrate key points. Clear instructions. Course is practical to the profession today.
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Amina –
I found the text to be easy to understand and assimilate.
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Tianrong –
Helped me a lot.
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Elizabeth –
A very well-written and comprehensive review.
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Shari –
Very clear and easy to follow
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Barry –
Found the book to be very detailed.
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Cynthia –
Great refresher course!
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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.
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Evan –
Perfect workbook.
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Jing –
very good
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Jing –
very good
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Lisa –
Good Information
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Iryna –
Great
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Miguel –
We are always adjusting
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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.
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G –
Excellent course very informative.
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Elaine –
I finished the material just need to restudy this to take the final.
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Stephen –
Very good class, but I have been working as an independent contractor to take the test. Still studying when I get the chance.
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Phillip –
Satisfied with the overall experience.
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Joanne –
lots of good information
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