CB Bookkeeper study plan

Classify each account as permanent or temporary and state which ones require adjustment at period end

Prepare accrual and deferral entries for prepaid expenses, unearned revenue, accrued revenue, and accrued expenses

Compute and record the adjusting entries for bad debt under both the direct write-off and allowance approaches

Explain how omitting an adjusting entry misstates net income and the balance sheet, and trace the effect through the closing process

Reconcile the unadjusted trial balance to the adjusted trial balance by matching every adjustment to its originating transaction

Detect and correct errors that affect only the trial balance (transposition, slide, one-sided entry, wrong account same side)

Record correcting entries for errors found after posting, including those that cross a fiscal year end

Distinguish counterbalancing from non-counterbalancing errors and state which require a prior-period adjustment

Identify errors of principle, errors of omission, errors of commission, and compensating errors from a described scenario

Compute the corrected net income for two consecutive years when an error is discovered in the second year

Prepare the entry to correct retained earnings for a prior-period error under the restatement approach

Explain how inventory errors self-correct across two periods and when they do not

Compute gross pay for hourly (including overtime) and salaried employees from time records

Calculate employee and employer payroll taxes, including Social Security, Medicare, federal and state withholding, FUTA, and SUTA

Prepare the journal entries to record payroll, payroll tax expense, and remittance of withheld amounts

Reconcile net pay from gross pay and explain the treatment of voluntary deductions and fringe benefits

Compute depreciation under straight-line, units-of-production, double-declining balance, and MACRS-style accelerated conventions

Apply the half-year and mid-quarter conventions and explain how they change first-year expense

Record asset dispositions for sale at a gain, at a loss, and at book value, including partial-year depreciation

Distinguish capital expenditures from revenue expenditures and record the subsequent costs correctly

Value inventory and cost of goods sold under FIFO, LIFO, and weighted average using both periodic and perpetual systems

Apply the lower-of-cost-or-net-realizable-value rule and record the write-down

Estimate inventory using the gross profit method and the retail inventory method

Analyze the effect of inventory errors and cost-flow choice on gross margin, ending inventory, and the current ratio

Design segregation of duties for cash receipts, cash disbursements, and payroll in a small entity with limited staff

Identify the components of the fraud triangle and match each to a specific preventive or detective control

Prepare a bank reconciliation and explain which reconciling items require adjusting entries

Recognize common fraud red flags in journal entries, vendor records, and expense reimbursements

Complete two full-length timed practice exams under exam conditions and score every domain at or above 70 percent

Re-work every missed item from weeks 1 through 7 and log the underlying rule that was misapplied

Rebuild from memory the adjustment, depreciation, and correcting-entry formats most often missed

Drill 30 rapid-fire computational items covering all six domains in 45 minutes