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
Carla –
This course is proving extremely difficult for me. I have never done bookkeeping without using a computer, and with the course focusing strictly on doing everything by paper is very difficult. I feel that it’s teaching antiquated principals – for example, bank reconciliations are very straightforward and easy to perform, I do them monthly for several different corporate bank accounts, yet I’m finding that I’m having to re-read through this section of the course multiple times. I think this particular course needs to be updated.
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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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Odilia –
I had done manual accounting before,but with this book would it make more easy,because when you are doing it manuel, and you are making transfer from book to other you can make mistakes. this book make it simple
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Kathy –
Very helpful
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Cyril –
My comment is as above. What is the rating scale?
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Kathi –
very helpful
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Juan –
Very good, clear and to the point
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Samuel –
The material for this course is straight forward and well explained but I think more practical question should be include in the bank reconcilliation section
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Patricia –
The book was very informative and I believe studying it will help me in passing the exam. I just wish the book was available in electronic format so I can get some studying done at work without drawing attention.
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Sandra –
I handle bank reconciliations at my current position. The tips and tools provided for finding errors is very helpful and easy to apply.
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Tina –
I found this workbook to be informative and helpful. I would recommend this to anyone who is beginning in the accounting/bookkeeping field. The key is to read through the sections and take all the quizzes.
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Ann –
good info
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Nina –
thorough
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Tina –
The study guide was very helpful.
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Guadalupe –
The book is not clear, and it is difficult to understand. The book need more information
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Ayse –
My comment for the adjusting entries applies to this section also
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Ralph –
Helped me to develop ways to find my errors quicker
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Marianne –
excellent way to get prepared
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Sarah –
Excellent study course. The material is clearly presented, easy to follow and understand. The chapter quizzes and final exam reforce the knowledge gained.
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Sol –
Easy to follow material. The exercises are very good.
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Jemil –
Above expectation
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Sonya –
Very informative!!! I learned something new.
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Debra –
Mastering Correction of Accounting Errors was very helpful and a refresher course for correcting errors that may have been overlooked.
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Mary –
Would like to take the class online
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Dwayne –
Same as number one.
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Jose –
It provides everything you need to know in order to apply it and make descisions according to the accounting principles.
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Ruthven –
Very well organized material that covered the actual transactions that bookkeepers/accountants encounter on an average day.
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Barbara –
It provided good insight to situations you don’t see everyday.
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Ellen –
I would recommend this book for anyone working in the bookkeeping or accounting field.
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Mary –
Excellent
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