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
Good
Hard to understand
I was very pleased with the material. The repetition of the quizzes made for a very effective drilling process. The AJE were committed to memory much faster and applying what I have learned to my job has made my work much more precise.
I find the course material on subject very useful. Written in clear, simple and easy to read and understand English. With more than enough examples to practice, the course material seemed as though, tailored to meet my specific reading and understanding needs. What impressed me mo, is the advice given at the beginning of the course material. That is, to read, read and read over and over again, the concise narrative. Adhering to this advice to me is the key to mastering the subject. I am happy to have engaged myself in this course and hope to finish as soon as possible despite time constraints. It is a great course and worth the cost. I advise all who are still undecided to take this course to enhance their knowledge and feel confident in handling accounting problems.
Test went well and felt the book prepared me well for the test.
Everything was very good
Extremely helpful
Very informative and easy to understand text
Well written
Very user friendly for the member to take the class. I am using this as a method to get my students exposed to the AIPB and prepare them to be job ready.
Very user friendly for the member to take the class. I am using this as a method to get my students exposed to the AIPB and prepare them to be job ready.
I found it is very useful. If we get the information for prior period adjustment that would be more useful.
Excellent! Thank you
Clear and understandable. The practice book and exams were very helpful and were reflected in the test questions.
Very helpful, clear and concise
very helpful.
Good source of review for exam
Love the Quizzes
Extremely helpful video that made things easier for me to better understand my Accounting lesson.
THe book has some questionable answers to the homework but i could not get anyone to help me to clear out the errors
Materials were simple and easy to understand. I enjoyed answering the assessment test but I hope there are a lot more.
I did not complete the exams, but I do adjusting entries a work I would rate it 5 stars
Each section gives a full range of examples and quizzes and is well set up with good explanations. For extra visual reference, I would like to suggest that it would be helpful to have the example of the typical Chart of Accounts, the Income Statement, the Balance Sheet and the Statement of Capital shown in section 1 with a brief explanation of them. Also, it would help to have figure 7-1 shown with a brief explanation in section 1.
I like narrative in each section.
Practical. Easy to follow.
Very informative. This course gave me a good basic understanding of adjusting entries.
I found this course very informative and easy to understand. Andrea Carpenter
It was helpful. Thankyou.
The information was presented in a clear concise manner. The quizzes after each section and the tests at the end of the book truly helped to study for the certified bookkeeper exam.
Very good course,clear explanation;it’s very help me to learn accounting terminology in English