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
Great content but written a little more advanced than my skill level. I had to go online to fill in some of the gaps in my training. Perhaps students should be tested on their skills before receiving this course.
There were alot of redundancies as far as cover the material then test and then further quiz on the material. Overall though very easy to explain and understand.
Very useful examples provided to help illustrate key points. Clear instructions. Course is practical to the profession today.
I found the text to be easy to understand and assimilate.
Helped me a lot.
A very well-written and comprehensive review.
Very clear and easy to follow
Found the book to be very detailed.
Great refresher course!
Good resource. I found all exercises at a good level of difficulty. I would like this book included something about adjusting entries to intangible assets.
Perfect workbook.
very good
very good
Good Information
Great
We are always adjusting
Very easy to understand. Plenty of practice. I really enjoyed studying from this book. Great tool to use for teaching yourself or even just brushing up.
Excellent course very informative.
I finished the material just need to restudy this to take the final.
Very good class, but I have been working as an independent contractor to take the test. Still studying when I get the chance.
Satisfied with the overall experience.
lots of good information
Very informative and easy to follow.
Not for a beginner! Course presumes you have working experience or schooling.
I took this course after the intro double-entry and found that this really reinforced what I had learned as well as gave me the necessary skills to conduct year-end posting. This book does not cover closing entries, however it does do a good job introducing financial statements.
Very helpful
This book is outstanding. I have enjoyed it. I am finishing it up now.
Very clear and to the point.
Very clear. Lacking some important information I had to look up from other sources.
Excellent