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
Yumiko –
Overall the explanation is easier to follow as self-studying.
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Linda –
Material was outdated.
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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!
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Deborah –
Easy to follow. Would recommend reconciliation templates to practice on the quizzes.
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Alejandro –
Good explanation on the review the financials and how one uses the trail balance to fix accounting errors.
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Jie –
Help and great
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Adamou –
The course is very educational,I do like it because it helps me figured out with errors in a logical way
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Vanessa –
This book is great for when you are stumped with how to correct an error. It is very helpful.
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