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
Douglas –
The book helped me pass that part of the CB Exam. It was very helpful! The exercises were very relevant to the exam.
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Eleanor –
It’s very informative self -study material. It has a clear and understandable discussions and explanations of the subject matter.
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Rhonda –
Once comfortable with double-entry accounting/bookkeeping this course is the next logical progression in bookkeeping courses offered through AIPB. The purpose of this course is to solidify (in the new student) the purpose, flow and logic when creating/using a Chart of Accounts. This course will give the student a comprehensive understanding of the differences between cash & accrual basis accounting; while learning proper original entry (and adjusting entries) for accrued revenues and expenses; and deferred revenues and expenses. Matters related to the unadjusted and adjusted trial balance are covered in this course, as well. Successful completion of this course should be considered a must for anyone involved in any aspect of bookkeeping as an employee or as a freelance professional. As a side benefit, for those already experienced in the industry, successful completion (of this AIPB course) serves to solidify prior skills and offers CPEC’s (Continuing Professional Education Credits) towards Certified Bookkeeper status – should you decide to pursue the CB title and certification.
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Peter –
Excellent, could be longer
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Mei –
Easy for study
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Julie –
This a very well organized course. Very helpful.
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Anna –
Materials did provide relevant information for test.
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Devonna –
The course was very good.
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Sandra –
Excellent
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Patricia –
The material is very well explained and easy to understand.Would like to see more Quizzes at the end of each chapter.
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Muhammad –
Satisfied
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Hari –
Excellent course material. Easy to understand , concise and relevant
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Tina –
The book was very complete. Questions covered every type of entry from every angle and improved both my comprehension of adjusting entries and confidence in doing them.
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Michael –
Excellent material and we’ll written
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Celia –
Extremely helpful as well as the self tests that go along with each chapter.
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Eileen –
need more tricky expamples in terms of test.
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Christine –
Would have liked more into on payroll adjustment for missing information
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Sandie –
As a 40 something jumping back into the private sector after had ran a business for 10 years; I was looking forward to finish my degree in Accounting. Going part time goes slow so I thought increasing my knowledge thru AIPB could only work to my benefit. This first module in Adjusting Entries was very helpful after had running my business with QuickBooks. With electronic software you don’t see the “behind the scenes” entries. I highly recommend this course! : )
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Theresa –
I have been using QuickBooks for 11 years, never truly understanding what was happening behind the scenes. I previously had no training in journal entry bookkeeping. I needed a course that would teach me from the ground floor up. I am very pleased with the results. This book was very straight forward and taught me to understand what is happening with each entry. I wish I had taken this course years ago, but I am glad to have the knowledge now.
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Susanne –
Hard course – but worth it!
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Marie –
It was very easy to understand. And I liked the 2 quizzes after each section.
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Dale –
This course seems to do a pretty could job of explaining adjusting entries and their effects.
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Sergio –
Very complete and understanding course.
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Rachelle –
I was very disappointing to find the copyright year was 2007.
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Ashgabat –
Good overall. A bit easy.
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Yvelisse –
Great way of making it very understandable.
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Zehra –
Lots of practice questions which helps to pass the exam.
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Nicea –
I wish there was more room in the book to write down answers to questions as you go through the quizzes. It would make referencing so much easier.
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Amy –
Very clear and concise. I learned a lot and will keep it handy for future reference.
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Tom –
The material was presented with examples and there were quizzes at the end of each chapter. This made the learning much easier. If a person already has some accounting/bookkeeping knowledge, like myself, they should have no problem going through the book in a relatively short period of time.
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