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
Debbie –
Again, easy to understand and work through.
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Marvina –
Very good reference book…although it probably could use an update by now.
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Christine –
Very good collection of those mistakes that we all make no matter how careful we try to be.
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Patricia –
very detailed and helpful
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William –
Very clear and easy to understand.
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Terry –
Took this course a long time ago. I liked this course as it focuses more on real world issues, but it could have used alot more exercises. Will any of the text books be updated soon??
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Vanessa –
this was very helpful and i learned more than my accounting class taught me.
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Rod –
This review book could have more examples in it.
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Geraldine –
The information was helpful and clear.
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Wendy –
The course material was informative and well paced.
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Simon –
Proper and related subjects
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Malathi –
Overall this course gave me the confidence to work in Accounts Department.
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Judith –
Learned a lot.
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Sevan –
It was good
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