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
Michelle –
This course has helped me to easily figure our what accounts to credit and debit when accounts are needing adjusted
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Kristina –
The course and materials were very easier to understand.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Charles –
very good
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Lori –
I thought this information was well presented. Very succinct.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Mohammad –
Very well described and in short. Quizes at end provided self testing. Their detailed answers provided why a certain answer was correct.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Jean –
Excellent program. Very good explanations. I would really appreciate, however, that when submitting the results of the final test you not only indicate what was incorrect but you give the correct answer. I came away not having any idea what I should have put down.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Amy –
Need interactive online study materials
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Ebony –
I appreciated this book it was a refresher to my Accounting Courses
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Ruben –
Just as I mentioned above the material is more realistic than what it is presented on the textbooks, which is very theoretical. The adjusting entries material is, on the other ha, more practical.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal