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
C Nagarajan Sridhar –
The examples and quizes are excellent and drives home the message to becoming a take cahrge bookkeeper.
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Ray Miller –
I am new to bookkeeping only about 2 1/2 years experience, we use QBO and QBD software. This book really helped me to learn the basics with debits and credits. Software does this work for you and now that I have much better understanding of bookkeeping I can use this information to make the software work better for my clients.
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Maurice –
Really made the accounting cycle more clear to me.
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Yumiko –
The contents are great. Only one confusing part (as I’ve been doing bookkeeping a bit), CPA&Auditors use the expression “deferred revenue” instead of “Revenue collected in Advance” or “Unearned revenue” in real practice. It would be nice to add “deferred revenue” expression in your course. Or, my understanding wrong ?
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Rhonda –
Great refresher course!
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Elce –
Good
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Colin –
5 stars
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Jennifer –
I found this a little ha, I had trouble with the use of the word debit and credit. I was under the impression that should only apply to the journal entry and did get mixed up when it also used to the explain the transaction.
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Dwayne –
Very helpful.
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Crystal –
This is definitely a great refresher especially after several years of doing accounting. With everything electronic today sometimes we forget the basics. I take the quizzes several times throughout to ensure I know material
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Amanda –
Great information!
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Aaliyah –
The manual is very useful. I haven’t taken any of the courses yet, but I’m planning on it in the near future.
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Viateur –
very very appreciated to learn that
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Kathleen –
I thought the course materials were great. Examples & practice tests help my confidence going into the test at Prometric. However, the final exam in the workbook was nothing like the Prometric exam. I ran out of time and almost failed!
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Deborah –
Easy to follow. Double quizzes helped reinforce terms.
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Rebecca –
This course helped me solidify existing knowledge. I am much better at adjusting entries after taking the course.
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Darrell –
Good course to take if it is a refresher to keep on top of one’s craft.
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Susan –
The text was clear and understandable
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Octavia –
I thought the course information was detailed, well written and easy to understand. I plan on moving forward with the next course.
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Astrid –
The books are very well documented with theory and exercises to practice it. You know how to explain things in an easy way that make you feel very confident about the subject I am learning. Thanks.
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Alejandro –
Good information on one used the adjusting entries, reminded me of the principal accounting course..
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Phuong –
This course is really practical. I start the course with zero knowledge about accounting, and now I understand how we should records a company book. I feel so happy and excited to take the next course for my bookkeeper career
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Susie –
Information was easy to follow.
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Jie –
Help and great
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Deidree –
I like how the book is short, simple, straight to the point and easy to learn. The quizzes at the end of each chapter is very helpful to my learning process.
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Annie –
I learned a lot.
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Crystalena –
Easy to understand
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Vanessa –
I found the book to be very informative with user friendly examples for understanding.
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Julie –
easy to study, great course
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Nina –
Great content.
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