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
Elizabeth –
In spite of the fact that I have been posting adjusting entries for several years now, I still found the course helpful.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
David –
Very good read and a great starter for the certification.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Gina –
Very accurate and good study materials
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Serafin –
I really understand everything. And rexommend the course to others.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Farhana –
good book.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Theresa –
I learned that the process of completing adjusting entries is a central function of a bookkeeper. I would have liked a brief general accounting principals review before jumping right into this subject as the first in the curriculum for the certificate.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Pamela –
Great addition to my bookkeeping library
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal