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
Grace –
Found it very easy to understand and follow
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Firdous –
Very knowledgeable, Need more details & examples
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Helen –
Rate 4 stars
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Jean –
OKAY
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Beth –
liked the format and quiz process.
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Rachel –
It’s been while since I took this course, but I found it to be helpful. I continue to apply what I learned on the job when needed. This course also served as a refresher course for me. I’m also encouraging my new co-worker to take a few of AIPB courses.
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Deanna –
good reference book
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Julia –
Detail was provided with thorough examples to follow in order to gather a full understanding.
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Kathleen –
Course provided basic information to correct most accounting errors
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Giovanni –
Challenging accounting issues, clearly presented.
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Natalie –
No comment
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Jeanne –
The course was fine, but there’s no way to tell why the answers I got wrong at the prometric center were wrong. Without the correct answers I’m afraid that going forward I’ll continue to make mistakes in those areas that I did get wrong on the test.
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