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
Jeannine –
This course touched on areas that were not being used in the company where I work. It’s always nice to be introduced to new concepts and feel satisfaction when you can apply them to your position. The course gave me information that enhanced my job performance and understanding of accounting.
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Bart –
Is similar in some ways to a chapter in an Intermediate Accounting textbook.
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Ms. –
Very helpful information.
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Benedict –
Having completed the Adjusting Entries course and then Correction of Accounting Errors, my confidence level shot up. I have always worried about not being able to provide a better service to clients if they ever needed me to do their books. But now, that fear is gone. Again, this is an area of the CPA exam that I will not be spending too much time on. I can handle this in my sleep.
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Y –
Some what confusing
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Linda –
This book was a lifesaver. It helped me to successfully correction my accounting quickly. I would recommend it to anyone in the accounting field.
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Kimberly –
I appreciate how thorough the book is with lots of examples and quizzes.
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Jason –
Gave me good insight into reconciling the bank statement. I liked the instructions on how to locate errors via the trial balance. I was well-prepared for the test because of the structure of this book and how easy it was to study the concepts.
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Jeff –
The course was adequate and covered the pertinent topics.
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Gerald –
Excellent
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Karen –
self study refresher course did not test
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Antony –
Excellent way to understand the entries explained in this course.
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Deborah –
Learning the course of Correction of Adjusting Entries on your own was a little ha, but having some one teach you the course make it very easy to learning and understand.
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Maria –
It was very good.
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Shawna –
I still reference this 9 years later!
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Connie –
Excellent review
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Marlise –
Very helpful to me.
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Shereme –
The material covered in the text book and final exam were comparable.
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Enrique –
the booklet prepare us very well. It covers all you need to know for principles of correction of erros.
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Melissa –
Like Adjusting Entries, it’s solid information but with strange, often vague wording.
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Ms. –
It is very well prepared and useful review, however, many accounting errors are usually in prior periods, which was beyond the scope of this resource. Would be beneficial to have an advanced version that covers prior period errors
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Arthur –
My only complain is that non of these good books available in PDF, otherwise good job!!!!
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Walter –
EXCELLENT COURSE
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Virginia –
Satisfied.
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Gaurang –
Good book but expensive
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Edie –
This was a great course! The examples given were everyday issues that you come across. I still refer to my study materials. It was easy to understa, and very helpful.
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Phyllis –
Informative and helpful.
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Amy –
If I remember correctly, because it was about three years ago that I took this course, most of the information was based on manual bookkeeping as appose to computer bookkeeping. Most bookkeepers use software now so I thought some of the material was out of date.
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Jenny –
Has been a while since I have studied this book, but seems like there were a few errors in the book and a few areas that could have been better explained, but overall was very good.
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Anna –
good
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