130 pages [67 self-teaching + 63 self-quizzes with detailed answers]
Section 1: Where errors occur and how to find them. 10 common causes of errors. 5 areas where most errors occur. How to analyze errors to correct them.
Section 2: Performing the bank reconciliation. Step-by-step instructions on how to do a bank reconciliation and record the required journal entries. How to correct errors found on the bank statement or in the ledger Cash account.
Section 3: Using the trial balance to find errors. Finding and correcting errors in the trial balance or errors that do not show up on a trial balance.
Section 4: Correcting current-period accrual errors.
Correcting accrued expenses: How to correct an accrued expense recorded for too little or too much or omitted entirely. Correcting journal entries when the expense was originally recorded in an expense account v. a prepaid (asset) account. Impact on the financial statements if each kind of error is not corrected.
Correcting accrued revenues: How to correct accrued revenue recorded for too little or too much or omitted entirely. Correcting journal entries when the original entry was recorded in a revenue v. unearned revenue account. Impact on the financial statements if each kind of error is not corrected.
Section 5: Correcting current-period deferral errors.
Correcting deferred expenses: How to correct too little or too much expense recognized or deferred. Correcting journal entries when the prepayment was recorded in an expense account v. prepaid (asset) account. Impact on the financial statements if each kind of error is not corrected.
Correcting deferred revenues: How to correct too little or too much revenue recognized or deferred. Correcting journal entries when a payment received in advance was recorded in a revenue v. unearned revenue account. Impact on the financial statements if each kind of error is not corrected.
Publisher: AIPB
This course gave me insight to the things that I was unsure of.
I guess it’s good.
Great. But these days computers pick the errors.
Corrections were received in a timely manner and easily accessible on line. Thank you.
Very satisfied with the course
Excellent – gave me more ways to look for the errors
The course book provided the very basic information for this subject. I found it helpful to have some experience in bookkeeping and also consulted other resources as study materials.
This was the most interesting course. My previous review (Adjusting entries)was for this course. However, Adjusting entries course was interesting too. In particular, the aging of A/R methods. I do not recall this subject being discussed as thoroughly as your course did when I was attending a major university. For example, I did not know that the ending/beginning balance for Allowance for doubtful accounts percentage of A/R must equal the exact percentage amount, period. That is just one example of many interesting course topics.
It was okay. Could have covered some other kinds of entries.
The course book was very informative and helpful.
Overall the class was very good and the tips to find errors were helpful. Although the overall concepts were helpful, my accounting software ensures I make double entries, so I found the info a bit dated and not realistic to my day to day accounting.
I think the books would be especially helpful for someone who has very little experience, and no formal education in bookkeeping.
Great Course
excellent, great refresher course
clear, straightforward.. it is good to understand…
The book is very easy to follow; I only had problems with the assumed knowledge, ie, since I’m just starting out, I didn’t know how much is a good estimate for certain accounts. Otherwise, a very informative book.
clear and easy to understand
This book is really helpful for any Accounting student.
The questions are long and difficult to grasp before answering within the time frame of 1 hour in prometric test. I feel questions are asked is different way rather than quiz in the Text and therefore facing difficulty to answer in the test.
This course taught me alot about the preparation of a trial balance and how be sure that when all end of the month reports are complete they are accurate.
I was very pleased with this course. Thank you.
Some questions could be worded differently for better understanding.
Easy to follow and understand. I have not taken my certification test yet so I cannot rate the content as it regards to that.
Well materials is nice, but in the promatric exam adjusting entry related question is little tricky. Many question’s direction I did not fine in the book. Mainly fiscal year and accounting period focused complicated way to solve adjusting entry. I need proper guide to pass promatric exam.
Very helpful.
I took all the courses that was required. If I was rate the courses…I would say it was just average…explanation was limited. The language was not specific. I would not recommend the course. I have being doing bookkeeping for over 10 years.
I LIKE IT
Great workbook
Great book to have available
Excellent!