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
Catriona –
I loved this course; I loved doing the bank reconcilations and fixing errors in the trial balance. Even though I work in bookkeeping on a daily basis, I got some great tips from the material such as finding errors like slides and transpositions. This course broadened my knowledge and made me feel excited about bookkeeping. I found the first course adjusting errors a little more difficult and I think you need to pin it down first. I felt great when I got to the last section of this course and could do all the adjustments so easily. I highly recommend this course.
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Anna –
I learned alot from the book which made it easier to take the exam.
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Esther –
i have not completed this yet
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Stephanie –
I enjoyed this study. It had practical and useful information.
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Evonne –
great for reviewing the class I took long time ago, all back to the memory, save me a lot of time go back to text book do review. Thank!
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Cynthia –
great course. very useful.
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Jeremy –
Great course. Explained lots of minor details not covered in my accounting classes.
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Benita –
Good review of accounting errors.
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Thomas –
Good Job
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Alan –
Gives insight into conditions not specifically identified in the course
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Kelly –
Give great examples through out the book
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Corina –
Felt the book was written very clearly and easy to follow. Self Tests are good in the back of the book.
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Daniel –
Excellent.
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Heather –
Excellent material – format and flow were perfect
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Kimberlee –
Easy to understand. Very helpful practice questions.
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