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 helpful
Material seemed a little simplistic.
The examples and exercises were great!
Material should be available online as well.
Great course
Very good read and a great starter for the certification.
This course is detailed in teaching how to create adjusting Journal entries. It not only explains how to do the entry but, the impact the entry has on the financial statements. Very detailed and easy to understand.
Very good review of accounting concepts.
Excellent coverage of an extremely important bookkeeping function!
Very accurate and good study materials
Good basic accounting course.
I really understand everything. And rexommend the course to others.
Excellent book.
good book.
Very helpful material.
Good resource to learn
The course is clear and precise. I don’t have no particular review to make.
the course contents are easy to understand and precise. I would continue to take some other courses and would expect their contents to give more examples of how to manage it practically.
I learned that the process of completing adjusting entries is a central function of a bookkeeper. I would have liked a brief general accounting principals review before jumping right into this subject as the first in the curriculum for the certificate.
The lessons are laid out very clearly, it was easy to understand and absorb. It’s the kind of lesson book that I will continue to use as a reference into the future.
Tons of examples, thorough and clear explanations
Written well and easy to understand.
The book is good and easy to understand
Great addition to my bookkeeping library
Useful test book
Very good review of adjustments.
Very-thorough material! The quizzes at the end of each section really help!
Very well structured and examples are very helpful in understanding the material.
Excellent, very detailed and easy to understand.
Good refresher course.