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
Karen –
Good refresher course.
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Tiffany –
Tracks with everything I’ve ever been taught
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Terecita –
Somewhat hard to follow in a comprehensive way but good overall
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Lori –
The material covered provided a good overview.
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Luisito –
The back to back quizzes after the chapter is very helpful.
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Colin –
The information is relevant and accurate. I give a 9 out of 10 very satisfied
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Donna –
Great course. Lot of detail on the ins and outs of AJE’s.
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Pamela –
Some of the questions were worded in a way that was hard for me to understand.
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Kathy –
Course provided good check list of monthly adjusting entries that needed to be made.
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