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
Joan –
The correction of Accounting Errors provided great detail information.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Ronald –
Great!
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Guillermina –
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!
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Tawnia –
Great class learned alot
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Manaye –
An interesting notes and ways of finding errors.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Ann –
This course was not as helpful as anticipated.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Ronald –
Very concise and helpful
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Kathy –
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
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Lyndon –
Good and meaningful information.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Miguel –
My satisfaction is very good. Thanks
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Mrs. –
It is very useful.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Loraine –
Excellent
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Gentjana –
Very very helpful book! A lot of exercises and it is so easy to understand.I liked how The Bank Reconciliation is explained in this book!
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Meng –
Course book is very helpful in preparing the exam. Highly recommended.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Mohammad –
it is very good and easily understandable
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Shaw-Yune –
Everything’s simple and clear. Perfect introductory course for beginners. But I do like to know how some rules are defined; a platform for discussion or a website link for further information will be appreciated.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Vilma –
Studying material seems complete and easy to use
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Maria –
It was practical & easy to understand
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Alexis –
Material seemed a little simplistic.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Jean –
I love the way it is.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Luis –
The explanations helped me much!
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Gabriela –
Material should be available online as well.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Daniela –
Great course
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Lori –
Excellent workbook
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Karl –
Excellent review of important Bookkeeping functions!
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Tiffany –
The course was very helpful. A good refresher.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Gina –
Overall materials to study are good and prep for exam.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Mary –
Excellent coverage of material.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Heather –
Well written, great source for revisiting the basics.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Starlette –
Very helpful – I learned a lot!
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal