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
Richard Rodriguez –
This study guide has given me all the credentials needed to master the accounting errors concept & the practice excercises were very fun along with the quizes at the end of the file.
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Samantha DeBois –
Excellent material very thorough.
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Praveen –
This is generally a good book in studying for the AIPB Bookkeeping exam but I recommend that it has more problems and step by step solutions in the next upcoming edition.
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YVONNE STEPHENSON –
The course provided fundamental information, however the textbook was dry and one dimensional. A complementary workbook and/or a video/cd lecture would have been a great enhancement. This would allow for listening to the material then reading it, then working the problems.
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Dennis Alexander@outlook.com –
Great text, great review of what I learned in college.
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Robert Jones –
Presentation of material was exact and very useful.
I completed this course for the first time but I have a lot of re-learning to do before I submit my final exam for grading.
Two previously items have now been removed from my to-do list providing more time to study.
The new study schedule begins today.
My over-all impression is I wish I had this course to study bookkeeping/accounting years ago. I am looking forward to completing the other segments of the certified bookkeeping program.
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Hayk –
Very usefull material. Helped me to pass AIPB correction of accounting errors exam with about 90% score.
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Vicky Phillips –
Good explanations and examples to go over when answering the questions
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Sheikh Hossain –
Good material for learning accounting.
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Sheikh Hossain –
It will be very effective in my professional life.
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Ragin –
Easy to follow and understand. I appreciate having the double quizzes at the end of each chapter to test and help solidify the skills.
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Tammy Roberts –
Well written.
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Kazi Zia Uddin –
More examples can be added in various sections. Overall it’s an excellent course.
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Elizabeth Mead –
Did not pass the exam; questions on the final were confusing and did not relate to practice questions.
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Beth Axe –
I liked the tips and tricks for discovering errors in the trial balance.
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Evelyn Baldo –
Interesting and informative
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Mohamed Helemish –
The course is very good but needs more practice questions
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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.
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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.
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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
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Alexandra –
Easy to follow
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Pravin patel –
Nice material and explanation.
easy to understand.
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Janice Lima –
Great course
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Angelique Broussard –
Verify informative and helped with figuring out my day to day tasks
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Dennis –
Material great, presentation great, I just need more practice.
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Maurice –
Great practice and learned how to spot errors I didn’t know existed before the class.
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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
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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.
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Dia –
Thank you!
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Yumiko –
Overall the explanation is easier to follow as self-studying.
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