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
Cathryn –
Did not feel the book prepared me adequately for the exam. Not sure if it was the way the questions were stated on the exam (seemed confusing) or the way the problems were in the quiz. I didn’t have any problems with the quiz but it seemed the test was a bit confusing.
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Francisco –
Well writeen
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Susan –
Very informative and easy to understand text
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Giselle –
This was a challenging course. It took a moment for me to fully grasp the concepts included in the book.
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Ashok –
I found it is very useful.
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Sara –
The course is great, I have learn a lot. When it comes to the Final Examination Answer Sheet review, we should have the chance of checking wrong answers if we still have not grasp the idea. At least people who are going for Certification.
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Richard –
Confusing. The questions concerning bank reconciliations used questions or examples that were not explained in the practice text or exams.
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Crystal –
Great. Learned a lot.
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Tatsiana –
Very helpful
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Milica –
Love the Quizzes
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Julie –
I am still working through the book, but I am very satisfied with the learning process of the book.
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Gwendolyn –
When compared next to my Accounting and Bookkeeping lessons, this explained everything much better.
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Cui –
Practical. Good materials to work on.
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Mai –
THe book also has some questionable answers to the exercises but i could not get anyone in the department to get them resolved
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Lucille –
Did not complete the exams, I would rate 5 stars
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Xiurong –
After took this course, I know how to find and correct deferral errors before the books are closed. It’s helpful.
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Hanna –
Very good course. Well prepared, I learned a lot
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Sheryl –
This study guide for this course was very useful and helped me pass this portion of the certified bookkeeper’s test at prometrics.
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Liudmila –
I like examples and exercises in this course
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Amy –
good detail
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Peggy –
The Correction of Accounting Errors was extremely easy, especially if you read the preparation book and took the practice exams. Some of the bank reconciliation questions were slightly confusing probably because in practice when I add or deduct from the bank/cash balance, it is the net amount. One question was confusing to me because Deferred Revenue is a liability and not an asset but maybe I didn’t read it close enough.
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Joel –
Good Explaination; good examples.
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Denise –
this book was a very helpful review, especially since my clients are all on a cash basis. This course reminded me what needs to be done for accrual basis in case I have a new client.
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Abebe –
Correction of accounting errors is the most advantageous, systems how to correct the errors, especially on trial balance, Ledgers, Journals, Bank reconciliations etc. It is very important course.
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Iris –
As with my previous course, The course is well written with easy to understand examples and quizzes. The quizzes do help with the exams. I will be taking the exam very soon.
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Colleen –
This book has the basic principles that is needed to perform bookkeeping skills.
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Dongmei –
good
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Melchor –
The previous section ” Adjusting Entries ” helps me understand the topics clearly.
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Donna –
Great program
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Jifang –
The book is easy to read and understand.
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