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
Great
Excellent preparation for the exam!
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.
This was the best of the courses – showing “tricks” to help find errors is huge.
Concise, clear, good examples.
5 Stars
Excellent, it teaches better than college degrees
The course provided the review that I needed of adj. Entries.
Excellent
helpful for my work
good
Very simple, straight forward and easy to study. I have minor bookkeeping and accounting experience, and had very little difficulty understanding the concepts in this course. I would recommend!
This book help me to understand more about correction journal
Good material.
Thorough course, helps to have some accounting knowledge.
The order of chapters in this book can get a little confusing, but overall 5 stars as the book is thorough and informative.
none
Great materials! Kudos to the writers of this book.
a
good but automated environment errors should have been covered
good but automated environment errors should have been covered
The correction of Accounting Errors provided great detail information.
Great!
I’m not a native English speaker, however, this course has the necessary and correct information to understand the Accounting cycle as well the test program. I’m so glad for it!
Great class learned alot
An interesting notes and ways of finding errors.
This course was not as helpful as anticipated.
Very concise and helpful
Some of the error finding methods were a little confusing (finding a transposition, for example) but only because I was familiar with it? It may Prove to be helpful
Good and meaningful information.