4.50/5 stars (756 customer reviews)

You start by learning how to do the monthly bank reconciliation and move on to uncovering and correcting errors in the trial balance and in the accruals and deferrals. Double-quiz in each section assures that you master it.

ISBN:9781884826269
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SKU: 9781884826269 Categories: ,

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

Additional information

Book Type

Softcover WorkBook, Online e-WorkBook

Series

Certified Bookkeeper Course Series: Everything you need to study for the national CB exam

  • Complete preparation for the national Certified Bookkeeper exam!
  • Double-quiz in every workbook section assures mastery of every skill!
  • Workbook quiz questions mimic the national exam questions!

 

 

 

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4.5 out of 5 stars

756 reviews

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What others are saying

  1. Hae

    Good resource to learn the basic accounting

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  2. Yim

    the course contents are easy to understand and precise. I would continue to take some other courses and would expect their contents to give more examples of how to manage it practically.

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  3. Theresa

    Helpful information provided to help with reviewing and auditing entries and reconciliations to assist with catching and correcting errors.

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  4. Mr.

    This course was very good and I found the exercises especially helpful.

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  5. Thomas

    It is well written and easy to understand. I had no idea of how I would expect to correct errors before reading this book, but now it is clear. Thank you very much for this help.

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  6. Pamela

    Great addition to my bookkeeping library

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  7. Huong

    The course is easy to understand.

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  8. Ramie

    Course content is tailored to meet everyday errors.

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  9. Menglu

    Useful test book

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  10. Mikhail

    This course was easy to understand. Love that each chapter was short

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  11. Jill

    Easy to follow and quizzes help to understand and retain the information from the booklet.

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  12. Janine

    With accounting so automated now it’s been a while since I’ve had to search for errors in the trial balance. It was good to be reminded of the different types of errors and how to find them.

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  13. Michael

    Excellent, very detailed and easy to understand.

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  14. Rupert

    Very informative

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  15. Scott

    Mastering Correction of Accounting Entries is a great book if you’re struggling with accruals and/or deferrals. Like the other books from the AIPB, it’s concise and has easy to understand chapters with examples and plenty of problems to work in the form of 2 quizzes after each chapter. It’s hard not to learn the content!

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  16. Ms.

    Simplified yet right-to-the-point characterization of accounting rule regarding adjusting errors, very helpful in aiding me reflecting and reviewing accounting rules I have learned back in college. Highly recommended!

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  17. Catherine

    It is not clear to me how “Use of Improper Estimate” is not a “Math Error” and how “Posting Error” is different from “use of Incorrect Principle?” While I did well on this exam (92 score) and could answer the test properly, I do not see a meaningful distinction of these.

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  18. Janet

    Nice! Rather helpful & well thought out. I liked the tips & tricks for tracking down issues. Haven’t taken the test yet

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  19. Sharon

    The problems and samples really helps to understand accounting errors that are made and helps to get ready for testing. I really like it.

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  20. Jose

    Wonderful and didactic book

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  21. Terecita

    Learned a lot!

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  22. Nicolle

    Great but could be more challenging.

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  23. Abelardo

    An interesting subject, it has been quite a while that I had dealt with a manual approach in finding errors.

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  24. Micah

    Loved it! very clear with lots of quizzes

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  25. In

    It was helpful for my work.

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  26. Deborah

    Great book!

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  27. Lori

    The material provided a good overview.

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  28. Luisito

    The explanation and steps in finding the error is very clear including the shortcut.

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  29. Altinay

    This Course was very useful for me. I liked the way how topics are structured and exercises explained by details.

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  30. Kimberly

    Learned a great deal. Thank you.

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