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
Judith –
Learned a lot.
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Sevan –
It was good
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Michale –
It has been a few years but all I felt it was a very good review and explained things to where it was easy to follow. The practice exercises help reinforce the material.
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Diane –
Informative and helpful.
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Terrie –
I took this course a few years ago, I liked it.
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Tricia –
I liked the material in this workbook. I do not like the typeface/font in this book. I can’t quite put my finger on it, but something about it makes it difficult to read.
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Robyn –
I feel this again is covered in a basic account class – it used to be account 101 when I took it – a good refresher class of basic learned many years ago.
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Diane –
I am using some of the techniques learned in this book at client offices. Good learning tool.
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Swan –
Good review of accounting errors.
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Sherry –
Good resource.
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Ping –
good
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Karen –
Enjoyed “de-bugging” the errors. Textbook helped to focus on where problems might lie.
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Susan –
Easy to understand. I really like the way these books are all broken down to easy to read chapters and then the reviews throughout the book.
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