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
Excellent course – learned more than I thought from it
By the time I completed the workbook, I felt I had a good working knowledge of locating accounting errors.
Workbook contains detailed step by step instructions and examples of reconciling accounts, plus many insights into the process. It is very helpful.
With so much of what we do being cash accounting, this course is an excellent reminder of the necessities of accrual accounting.
Went into a lot of detail on the proper way to record the correction of accounting errors.
Very useful
Very thorough
Very informative. Easy to follow/understand
Very informative & easy to understand.
Very informative
Very informative
Very Helpful.
Very good course and excellent reference book.
Very good book. Easy to understand
very good
very good
Took in 2003. Was fine course.
This one was my favorite. It helped me remember a lot of things I’d forgotten, like dividing by 9 for a transposition error.
this is my favorite book, I learn alot from this book.
This instruction booklet taught me much.
This course was very good. It was also difficult. I work in bookkeeping on a regular basis and need to correct errors all the time and I had a hard time with it.
This course is well done and able people to understand better the accounting science. A+ is your gradee
This book was good.
This book has really helped me to better service my clients books on how to locate and correct accounting errors.
The workbooks are very helpful.
The quiz’s help reinforce the material
The only piece of the coursebook I found was the chapter where it showed you how to find transpositions/slides etc. Truly in today’s computerized accounting world, this isn’t something to me that I needed to try and learn. It actually was the most difficult part of this book to total retain what I was learning. All of the other chapters I can understand needed to be a part of this book
The material was presented in a way that built on and reinforced what was taught in “Adjusting Entries.”