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
very clear and understanding
I didn’t actually take this course. I am CPE coordinator at my CPA firm and we purchase these to help our new hires. We find them very useful for refreshers for newly graduated, but inexperienced accountants.
Great examples!
Very well written.
Well written, easy to understand course.
Excellent reference book.
Just completed the course. I struggled with this as I do not work in this area as much. Did find information valuable for future use. It would be helpful to have available the answers on the final test to prepare for the in person exam.
Great refresher book. Examples were easy so that the concepts were easily understood.
Very useful and made easy to understand.
nice review of information
This course was a good review of material that I took several years ago.
I am satisfied with all AIPB books. Very informative and well written.
Easy to understand although some examples are not consistent
The booklet was very informative and easy to follow. The problems reinforced the material which made the questions at the end easy to answer.
Material is good but need more exam questions for practice.
Love the course. I wish it was computerized.
A good theory base and explanation for the entries. But some of the questions are twisted and confusing.
The topics are very well explained and the exercises after each and every chapter help a lot.
Fir, could you punch some holes in the binder edge of the manual. They start to come apart after repeated efforts to study them. Otherwise I’ve had some problems trying to juggle looking for a job and my study efforts. We’re having Job Fairs in South Texas but most of the jobs I see at the Fairs are for Truck Drivers. I think also that prospective employers are pulling jobs off the market when anything in the economy gets their attention or they pull the plug on Job Fairs. I want to get the Certified Bookkeeper designation ASAP. $200 is still a large expenditure on my budget at this point. I have taken tests offered by Prometric in the past. Things are still slow in this area. My county, San Patricio, has had the highest unemployment Percentages in the 12 counties of the Eagle Ford Shale project. I know how to study this information but its going to take time. I’ll be back studying again shortly.
Will be better if you post some course videos in your web to support the book
The book made it extremely easy to understand how to record adjusting entries.
Really enjoyed it
Very interest–learned more than I had learned while working
The Adjusting Entries is a very good book for a student bookkeeper.
Good information on what to include in adjusting entries.
The course was helpful in reviewing adjusting entries and studying for the CB test.
Good
Well written, easy to understand and retain; examples and quizzes add an extra reinforcement to knowledge base.
Very informative and helpful.
learned a lot