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 questions are eye opener ans appropriate.
Great
The course was Informative and understandable. Practicing the problems added another level of understanding. I’m considering bookkeeping certification in the near future.¬†
Very thorough and to the point book. I gained very good knowledge and understanding of this skills. It is really helping me for my current study.
The book was exactly what I needed to pass the exam.
Good overview.
Concise, clear, good examples.
Clear, step-by-step teaching.
5 Stars.
Very lucid…and easy to understand
Was very helpful
The step by step explanations help me understand the concepts. I recommend this course.
Very simple to understand .
I bought this course, and I think is the best from everyone I tried before. the problems I
The book was very easy to follow and I appreciate the exercises to reinforce the lessons.
helpful for my work
Is very profesional
Extremely difficult and confusing. I haven’t found any other courses so far to be this difficult. I strongly believe that there should be an introductory course on JUST journal entries-what they are, why they’re important, purpose, how to manually reco, etc.. It’s such important foundational knowledge to have with all this stuff, especially as a long time Quickbooks user who doesn’t ever manually do journal entries.¬†
good
Very good, clear instructions, practical easy to learn and practice acquired knowledge.
Good material.
Great materials! Kudos to the writers of this book.
A very good study guide
Excellent
Great first book in the series. Very step by step and straight forward
Thorough course, helps to have some accounting knowledge.
This course really help me to understand more to do adjusting entries
Great!
The adjusting entries was great information.
Very good information