Description
130 pages [67 self-teaching + 63 self-quizzes with detailed answers]
Section 1: Where errors occur and how to find them. 10 common causes of errors. 5 areas where most errors occur. How to analyze errors to correct them.
Section 2: Performing the bank reconciliation. Step-by-step instructions on how to do a bank reconciliation and record the required journal entries. How to correct errors found on the bank statement or in the ledger Cash account.
Section 3: Using the trial balance to find errors. Finding and correcting errors in the trial balance or errors that do not show up on a trial balance.
Section 4: Correcting current-period accrual errors.
Correcting accrued expenses: How to correct an accrued expense recorded for too little or too much or omitted entirely. Correcting journal entries when the expense was originally recorded in an expense account v. a prepaid (asset) account. Impact on the financial statements if each kind of error is not corrected.
Correcting accrued revenues: How to correct accrued revenue recorded for too little or too much or omitted entirely. Correcting journal entries when the original entry was recorded in a revenue v. unearned revenue account. Impact on the financial statements if each kind of error is not corrected.
Section 5: Correcting current-period deferral errors.
Correcting deferred expenses: How to correct too little or too much expense recognized or deferred. Correcting journal entries when the prepayment was recorded in an expense account v. prepaid (asset) account. Impact on the financial statements if each kind of error is not corrected.
Correcting deferred revenues: How to correct too little or too much revenue recognized or deferred. Correcting journal entries when a payment received in advance was recorded in a revenue v. unearned revenue account. Impact on the financial statements if each kind of error is not corrected.
Publisher: AIPB
Elizabeth Mead –
Did not pass the exam; questions on the final were confusing and did not relate to practice questions.
(0) (0)
Beth Axe –
I liked the tips and tricks for discovering errors in the trial balance.
(0) (0)
Evelyn Baldo –
Interesting and informative
(0) (0)
Mohamed Helemish –
The course is very good but needs more practice questions
(0) (0)
Denise Fields –
I recommend that you take notes as you read the book and do the practice tests 2-3 times if necessary to make sure you know the material and what needs to be done to answer the questions correctly on the final exam.
(0) (0)
Ariel L O’Heeron –
The test was hard but not impossible. The workbook was thorough and I felt that I was really being tested on the details that I studied.
(0) (0)
helena yuan –
I am not sure about the rating. I did not do well on the test. I definitely need to re-read the text again. If you can sent me the correct answers to this test, it would be very helpful. My email is yuanhhhh@hotmail.com
(0) (0)
Alexandra –
Easy to follow
(0) (0)
Pravin patel –
Nice material and explanation.
easy to understand.
(0) (0)
Janice Lima –
Great course
(0) (0)
Angelique Broussard –
Verify informative and helped with figuring out my day to day tasks
(0) (0)
Dennis –
Material great, presentation great, I just need more practice.
(0) (0)
Maurice –
Great practice and learned how to spot errors I didn’t know existed before the class.
(0) (0)
Joseph –
The test asked questions mostly not in the Practice sessions; Plus the time factor was not enough to answer the Questions ; failed twice , hope things would get better
(0) (0)
Katie –
It was simple and moved quickly. I have never been a fan of standardized testing, though, because I always have questions about the questions.
(0) (0)
Dia –
Thank you!
(0) (0)
Yumiko –
Overall the explanation is easier to follow as self-studying.
(0) (0)
Astrid –
The course helps me to pay attention to specific accounts without abandon others. Perfect course.
(0) (0)
Elce –
Good
(0) (0)
Branislav –
The same with this, both tests helped me to better understand the US bookkeeping principles and practice.
(0) (0)
Linda –
Material was outdated.
(0) (0)
Colin –
5 stars
(0) (0)
Jennifer –
I enjoyed this course in understanding a quicker way find and locate errors. I found it very useful.
(0) (0)
Jean –
I have sent the course evaluation with Final Examination Answer Sheet. I really appreciate this course as Bookkeeper because it is part of my daily job and will help to avoid some practical errors especially How to correct current vs prior errors. I will continue my preparation for bookkeeping certification.Now, I am working on Mastering Payroll.In general, the courses I took from AIPB are more practical and give updated information.
(0) (0)
Linh –
Mastering Correction of Accounting Errors is really practical to me and much more easily to understand than all of any books which I’ve ever read before. Surely, I will introduce this book to my friends.
(0) (0)
Amanda –
Great information.
(0) (0)
Viateur –
It was very important, very useful to me
(0) (0)
Kathleen –
I thought the course materials were great. Examples & practice tests help my confidence going into the test at Prometric. However, the practice exam was nothing like the Prometric exam. I ran out of time and almost failed!
(0) (0)
Deborah –
Easy to follow. Would recommend reconciliation templates to practice on the quizzes.
(0) (0)
Rebecca –
This course solidified my existing knowledge and added to it. I appreciated the clear examples which helped me learn the concepts.
(0) (0)