Accounting Adjustments – Simple Guide, Adjust your accounts to make better decisions.
The main purpose of accounting is to generate valuable information to support financial and other decisions in life or in business . So it is important that we record all transactions and events related to a particular accounting period before preparing financial statements, which we will rely on to make important decisions. Therefore, we need to adjust our book of accounts through adjusting entries to ensure that all related transactions and events are duly recorded and such entries are called Accounting Adjustments.
This Course is not a Beginners Course as it require basic knowledge of accounting which relate to recording in ledger accounts and Balancing of ledger accounts and preparation of trial Balance.
This course is designed to provide knowledge about Accounting Adjustments with simple explanations and examples and after each adjustment we will test our knowledge with an exercise. During this course we will discuss following Accounting Adjustments :
- Accrued Expense Adjustment
- Prepaid Expense Adjustment
- Receivable Income Adjustment
- Income Received in Advance Adjustment
- Fixed Asset Depreciation Adjustment
- Disposition of Fixed Assets Adjustment
- Bad Debt Adjustment
- Provision for Doubtful Debt Adjustment
- Drawings Adjustment
- Closing Stock Adjustment
- Value Added Tax Adjustment.
Then we will test our knowledge on above adjustments through our final exercise, where we will prepare Income Statement and Statement of Financial Position after adjusting our accounts with adjusting entries. Therefore if you wish to learn Accounting Adjustments this course is designed for you. So I warmly welcome you to enroll and learn Accounting Adjustments and if you have any doubts feel free to contact me.