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
Wish they would spend more time on this class.
Excellent but I felt that more time was needed on this subject.
This course has helped me to easily figure our what accounts to credit and debit when accounts are needing adjusted
The course and materials were very easier to understand.
The textbook was straightforward and informative!
Helpful
Great start to the course
Good course
Great information
very good
Easy to follow and understand what you’re learning…
I thought this information was well presented. Very succinct.
Very well described and in short. Quizes at end provided self testing. Their detailed answers provided why a certain answer was correct.
It has been 20 years since I took a course, I found the info to be helpful and with my job I think it was easy to apply and learn because I actually used it right away.
Thanks AIPB
Excellent program. Very good explanations. I would really appreciate, however, that when submitting the results of the final test you not only indicate what was incorrect but you give the correct answer. I came away not having any idea what I should have put down.
The book is well written. The practice exam and quizzes covered everything on the exam.
This is a great course. It was exactly what I needed.
Is’still best
Need interactive online study materials
I like the quizzes, and the examples are well written.
This text was not very detailed at times.
This course is very practical. I would consider it to be the most important book out of all of the 6 books required for the CB title.
I appreciated this book it was a refresher to my Accounting Courses
Just as I mentioned above the material is more realistic than what it is presented on the textbooks, which is very theoretical. The adjusting entries material is, on the other ha, more practical.
I thought this course was written well and provided just the right amount of practice quiz’s. I especially like the open book test that I could photo copy and complete as many times as I needed.
I is a very good book
Awesome manual that has helped me tremendously at work in the accounting department.
Good review of information I learned years ago!
I’m not fluent in English, which costs me a little more time to beat all the content but I still clearly understand the content