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
Julia –
Course was well written and provided a good review of adjusting entries
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Janet –
Adequate
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Helen –
Rate 4 stars
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Giovanni –
Stimulating and well organized questions.
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Firdous –
Very knowledgeable, Need more details & examples
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Deanna –
it has helped me quite a few times.
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Beth –
Liked the format and review quiz set up.
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Natalie –
No comment
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Carol –
I just wanted to say, it is too difficult to study on my own time, many interruptions at home. Work much better with a structured class environment. Any chance of having classes like a community college? I know I could get through it then.
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Carla –
This course was straightforward and easy to understand.
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Melinda –
The study guide was helpful in for preparing for the test.
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Theresa –
I am still working on studying this book. Hopefully I can take my test soon.
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Patricia –
The book was very informative and I believe studying it will help me in passing the exam. I just wish the book was available in electronic format.
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