136 pages [55 self-teaching + 81 self-quizzes with detailed answers]
Section 1: Why we use accruals, deferrals and other adjustments. The difference between cash basis and accrual basis accounting.
Section 2: Accrued revenue. How to record accrued revenue. Examples of different kinds of accrued revenue. Computing and accruing interest receivable. How failure to accrue revenue affects the financial statements.
Section 3: Accrued expenses. How to record accrued expenses. Examples of different kinds of accrued expenses. Computing and recording interest payable. How failure to accrue expenses affects the financial statements.
Section 4: Revenue collected in advance (unearned revenue). How to record unearned revenue. How to accrue revenue earned when the revenue collected was originally recorded in a revenue account v. an unearned revenue account.
Section 5: Prepaid (deferred) expenses. Recording prepayments and adjustments. How to accrue expenses when prepayments were recorded in an expense account v. a prepaid (asset) account.
Section 6: Other adjusting entries. How to compute and record the adjusting entry for bad debt expense for tax purposes v. book purposes. Adjusting entries for depreciation and various cash accounts.
Section 7: From unadjusted to adjusted trial balance. The chart of accounts. Preparing the unadjusted trial balance, entering the adjustments and preparing the adjusted trial balance. A summary of how the adjusted trial balance is used to prepare the income statement, balance sheet and statement of retained earnings. Basics of the post-closing trial balance.
Publisher: AIPB
Never had to apply the knowledge yet, but it was easy to learn and reference. I think it was excellent if that is all to it!
This book made a difficult subject of accounting such as the adjusting entries so much more simple and easier to learn.
Helped with my current job duties.
Had some information that I did not find in other bookkeepers manual and books.
I wish there were lots more problems (quizzes).
Was as expected
very good
I now have more confidence to make adjusting entries.
enjoyed
The class was great. Very informative!
This course is informative
Excellent, learned alot I did not know!
Having completed an AAS in Accounting, and using adjusting entries frequently in my work, I found this course to be a good review.
Simple and Easy to understand. Awesome!
I found all subject matters to be clear and easy to follow. If you struggle with the first section of a chapter, the quiz section will surely clear up any questions you may have. I felt very confident with each subject at it’s conclusion.
An excellent book for prepping for the exam.
Very good book.
Excellent. Still working through the materials and will test soon.
It’s so great! I learned more than I got from school.
It would help to get tests back to see what was done correctly & what was missed.
very informative and concise
Very informative
Excellent
Was easy to understand and covered the material could have used a few more examples/questions to assist someone who perhaps does not have an accounting background.
I am still in the middle of this text book. It is good so far
great
It has been 9 years, but what I can remember the information covered was good.
The course was informative, but there were several errors. Whoever edits the course needs to do a better job. However, it enabled me to pass that part of the exam, so overall I was pleased.
Great book! Very easy to read.
The explanations and examples are clear and easy to follow.