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
Eunika –
Very clear. Lacking some important information I had to look up from other sources.
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Veronica –
very clear and understanding
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Vicki –
Just completed the course. I struggled with this as I do not work in this area as much. Did find information valuable for future use. It would be helpful to have available the answers on the final test to prepare for the in person exam.
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Tonya –
This course was a good review of material that I took several years ago.
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Elizabeth –
Easy to understand although some examples are not consistent
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Lance –
Fir, could you punch some holes in the binder edge of the manual. They start to come apart after repeated efforts to study them. Otherwise I’ve had some problems trying to juggle looking for a job and my study efforts. We’re having Job Fairs in South Texas but most of the jobs I see at the Fairs are for Truck Drivers. I think also that prospective employers are pulling jobs off the market when anything in the economy gets their attention or they pull the plug on Job Fairs. I want to get the Certified Bookkeeper designation ASAP. $200 is still a large expenditure on my budget at this point. I have taken tests offered by Prometric in the past. Things are still slow in this area. My county, San Patricio, has had the highest unemployment Percentages in the 12 counties of the Eagle Ford Shale project. I know how to study this information but its going to take time. I’ll be back studying again shortly.
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Elizabeth –
Really enjoyed it
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Eileen –
Very interest–learned more than I had learned while working
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Paul –
Good information on what to include in adjusting entries.
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Jennifer –
The course was helpful in reviewing adjusting entries and studying for the CB test.
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