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
Melissa –
It was a solid course, but some of the wording was difficult to understand.
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Sharon –
good course
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Phyllis –
Very helpful and easy to understand.
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Jenny –
Has been a while since I have studied this book, but seems like there were a few errors in the book and a few areas that could have been better explained, but overall was very good.
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Clarissa –
The course book I ordered on adjusting journal entries was very useful.
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Anna –
good
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Victoria –
Good study course and practice.
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Tina –
A good workbook for understanding the period end procedure.
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Samuel –
Thorough and eductive
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Nimfa –
Very good. I just wish you can take the exam online.
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Michelle –
Helpful in learning the basics
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