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
The course was very easy to work through the text book, quizzes and the final examination. It was a nice refresher for handling adjusting entries especially those with bad debt.
Tracks with everything I’ve ever been taught
Very informative
Mastering Adjusting Entries, for me, was a foundational financial accounting book. It clearly showed the process of utilizing the trial balance to generate financial statements. It’s an easy read and full of great examples/quiz questions. I really like the structure of the AIPB books; concise, 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!
Simplified yet right-to-the-point characterization of accounting rule regarding adjusting entries, very helpful in aiding me reflecting and reviewing accounting rules I have learned back in college.
Clear and easy to read
I am completely satisfied. Thanks a lot!!!
I learned so much
Somewhat hard to follow in a comprehensive way but good overall
It is very useful and hope it will enough to prepare the CB exam because I am VERY new user and 100% useful
Easy
Clear and concise. Easy to read and two beneficial quizes, with detailed explanation of correct answers, in each chapter. Can always be used as a reference now.
very informative have not taken test yet though.
Very comprehensive, easy to understand.
Great book!
The material covered provided a good overview.
The back to back quizzes after the chapter is very helpful.
Good.
I keep my adjusting entries book with me at all times when I am working at my accounting job. It is so handy to have when I have a question about an adjusting entry.
I read twice already. It is easy to follow and through. I hope it will help me pass the Certification Exam.
The information is relevant and accurate. I give a 9 out of 10 very satisfied
Great course. Lot of detail on the ins and outs of AJE’s.
Very easy to understand
Some of the questions were worded in a way that was hard for me to understand.
Course provided good check list of monthly adjusting entries that needed to be made.
Very clear wording, easy to understand
The text and content is easy to read, and the information is very practical.
great set up of Correction of accounting Errors. passed test first try
Clear and concise
I got much help from this book. I recommend to anyone to read this book.