.5 CPE In this course, the basic concepts of internal controls will be discussed, including the main objectives of controls. Also, essentials for understanding bank reconciliations are presented along with examples of typical reconciling items and required adjusting journal entries.
Course Series
This course is included in the following series:
11 CoursesBack to the Basics: Accounting Fundamentals
- Accounting Review: The Basics of Debits and Credits
- Transaction Analysis, T-Accounts, Debits and Credits, and Trial Balances
- Accounting Review: Overview of Financial Statements; P&L, Balance Sheet, and Cash Flow
- The Accounting Equation and Financial Statements
- Bank Reconciliations, Cash, and Internal Controls
- Accounts Receivable Training: Bad Debts
- Equipment and Depreciation
- Inventory Costing
- Purchase and Sale of Inventory
- The Adjusting Process
- The Closing Process
Learning Objectives
- Discover Internal Controls and their objectives
- Recognize how to prepare a bank reconciliation
- Prepare adjusting entries from a bank reconciliation
Last updated/reviewed: March 28, 2024
75 Reviews (351 ratings)
Reviews
Anonymous
(CPA)
As a professor, it would be encouraging to see a better presentation - legible and transparent. Generally I like your courses, but language, grammar and .. accurate Q&A make it more helpful. The quiz question did not include the bank fees and Q&A were ambiguous on this one. It doesn't need to be tricky to make it a worthwhile training.
Anonymous
(Accounting Manager)
course was basically a summary of cash vs. bank and how it impacts the BS / P&L at month end. I would suggest for a refresher if you have been out of cash/bank reconciliations for some time now. Improvements can be made to whats being projected, hand writing was not exactly 'readable'
Anonymous
(Treasury Director)
Good course. Thorough and detailed instructor lecture. I could tell he was a professional who knew his stuff. I enjoyed the review and exam questions. They got me to think about bank reconciliations in a different way than I had before in my daily job at work.
Sherman Bamford
(Accountant at Carilion Clinic)
I liked the fact that the instructor went through exercises to demonstrate the principles taught in the course. A little hard to follow the handwritten sections at first but once we got into the course I realized why this method was so useful.
Anonymous
()
Very engaging course and instructor. I would recommend this course. It was thorough and detailed. The exam questions and practice are helpful. Given how important cash / bank reconciliations are, I would almost have preferred an hour long lecture
Anonymous
(Anonymous)
Great course that covers bank reconciliations from book and per bank. This course removes cobble webs from the mind and gives great examples and explanations on subject matter. Great job! The exam questions were a bit difficult.
Anonymous
(Accounting Manager)
While watching this course I felt like I understood the material but when I took the quiz and final exam I couldn't apply what I learned. I would have liked more examples in the course worded the same as in the tests.
Anonymous
(--)
Liked the deep dive in to bank reconciliations. However, the presentation style wasn't my cup of tea. The presenter was preparing the power point slide real time, while presenting. It made the course drag on.
Mai Kia Vang Thao
( at Arvest Bank)
Very Informational. I appreciate how instructor kept it short, but explained it all very thoroughly. I appreciate that instructor provided the supporting materials for personal use/notes.
Nychelle Rivera
( at U.S. Department of Justice)
I found this to be a very informative and comprehensive refresher course. All objectives of the course were met. The instructor was clear and concise when presenting and explaining concepts.
Lauren Bauer
(Accounting Manager at Signature Analytics)
This is course is good for someone who is new to accounting for cash. Instructor provides a good summary about month end close procedures for cash and also the internal controls for cash.
Pamela LaPlaca, CPA
(Controller at EG USA)
This class was primarily focused on the monthly Bank Account Reconciliation process rather than actual cash control processes to implement. I suggest the class be renamed.
Anonymous
()
The course is a high level lesson on performing a simple bank recon. A higher degree of difficulty is required to fully grasp the possible complexity of a bank rec.
Michael Muchortow
(CPA at Muchortow & Associates)
Fairly elementary concepts but instructor did a good job of explaining how cash reconciliation supports a strong internal control environment over cash assets..
Anonymous
(Retired)
Slides should be prepared in advance, no slide materials to retain and or review, and the exam questions were very poorly worded relative to answer choices.
Kando Ohazurume
(Snr Accounting Consultant, CPA at contractor)
The fact that Cash is King, bank reconciliations are so critical to the operation of any company. Having clear internal controls on cash is important.
Anonymous
()
Good course. Questions on exam were confusing. Would have liked the examples to correlate with the questions on the exam. Overall happy with course.
Anonymous
(Bookkeeper)
great review of internal controls and how to properly do a bank reconciliation. Would like to know which answer was incorrect on the final exam.
Linda Jacobs
(acct at n/a)
Exam questions and answers are either worded in a very confusing manner or flat out wrong. Please review these questions and the correct answers.
Lilian Dendrinos
(consultant at DLC Group)
I agree with the other reviews that the course was too basic. I felt the wording used to describe adjustments to and from were very confusing.
James Chuang
(Compliance Officer at Silverton Casino Hotel)
Good overview of the bank reconciliation process. Good examples of common situations. Presentation could be improved and more engaging.
Sean Flynn
(Accounting Manager at Rosemawr Management)
Another foundational course of the cash process of a company. Foundational, would be better for a junior staff but good non the less.
JIN ZOU
(Senior Accountant at STS Traders)
This is a very concise overview of how to prepare bank reconciliations. It also provides a clear example during the short course.
Anonymous
(CFO)
If you want to see if you fully understand the relationship between the bank balance and your books, this is a good place to start.
Anonymous
(Consultant)
Good refresh on bank recons and internal controls. Helpful for entry level staff, but helpful for all handling the bank recons.
Anonymous
()
Great instructor with good notes. Most bank reconciliations are not completed by hand like this, but good information to know.
Anonymous
(Auditor)
Quick and to the point. Very helpful and clear as I just completed a control related to bank reconciliations for my company.
Tania Roberts
(Revenue Accountant at OEConnection, LLC)
Great part of the entire package. I haven't completed a bank reconciliation in a while. This was an excellent refresher.
Dan Villanueva
(Accountant at New York Times)
Very basic info. Enroll to the course only if you do not know the basics of internal control and bank reconciliation.
Anonymous
(Consultant)
Nice review of the bank reconciliation and the accompanying journal entries needed to adjust the accounting records.
Anonymous
(Consultant - Process Specialist)
You'll be able to grasp the basics of accounting. This is a great starter for those new to the accounting world
Norman West
(Financial Manager at Lockheed Martin)
Very basic information. I'm not sure who this course was intended for, but it wasn't geared towards CPAs.
Anonymous
(Staff Auditor 1)
great class, felt like i was in college all over again, like how examples were given to help understand
Anonymous
()
Presented very well and examples are easy to follow. I would prefer slides for more time efficiency.
Bryan Chamberlain
(Controller at N/A)
Great presentation of some basic accounting concepts, that all Accountants should be familiar with.
Anonymous
(Senior Internal Auditor)
This course was a refresher. The instructor was very effective in presenting the course materials.
Jennifer Hubbard
( at Scribcor Global Lease Administration)
This course is a good review for the basics of bank reconciliation process. Good examples used.
Anonymous
(None)
This was an okay course; however, it greatly emphasized the bank recon over internal controls.
Halina Kovel
(Sr. Accounting Manager at Private Medical Services)
Great overview of the banking recons and cash controls. Very useful reminder of key concepts.
Diann Saltman
(Director of Quality Assurance (OIG, audi.. at Department of Health and Human Services)
Very basic, but a good review for someone who hasn't done a bank reconciliation for a while.
Joel Barton
(None at In Transition)
Basic, straightforward info.
Didn't particularly like the "whiteboard" type of presentation
CHARLOTTE CRAWFORD
(Controller at WEST CENTRAL WIRELESS)
good review of bank reconciliation items. Internal controls related to cash were emphasized
Anonymous
()
Good review of bank rec topic from small business point of view. Thanks to the presenter.
Anonymous
()
It was axtually the best shortest explabation of cash reconciliation i have ever studied.
Charles Tuggle
(Retired 2003 at Plant Engineer Pulp and Paper)
Very process oriented. Would like more discussion of the internal control implications.
Halina Kovel
(Sr Revenue Accountant at Yelp)
very brief and useful overview of bank reconciliations and internal controls over cash
Lawrence Hirsch
(Controller at Builders design)
Different presentation style that lends itself to basic understanding of Bank Recs.
Kim Hughes
(Accounting Manager at Lagoon Water Midstream)
Great course to get better understanding of the importance of bank reconciliations.
Anonymous
(IA Associate Director)
This review was concise and straight to the point. Highly recommend this course.
Anonymous
(SVP Corp Compliance & Accounting)
nice course . hoghly recommend. nice refresher of important subject matter area
Corey Masters
(Accountant, Internal Auditor, Risk Speci.. at Self)
I found this course a little more challenging than some of the other courses.
Anonymous
(Accountant)
very well done course on how bamk reconciliations work throughout our system
Abraham Minto
( at Abraham Minto LLC)
Erik is a great instructor and his course on bank reconciliations was great!
Anonymous
(Senior Accountant)
Nice intro to bank reconciliations as an example of internal controls
Bob Phipps
( at R.W. Phipps, PA)
Interesting explanation of a bank rec. liked the white board diagram
Anonymous
(-)
Good overview with practical examples, concise and to the point.
Charles Elwis
(Insurance Broker at Health Guys)
Clear introductory explanation of purpose of internal controls
Anonymous
()
Good course, makes you think and analyze. Good anytime review.
Anonymous
(Controller)
Helpful to go through examples. Handwriting difficult to read
Lou Mortillaro, CMA
(Accounting Manager at American Financial Resources)
Geeat intro course for those without an accounting background
Anonymous
(Sr. Accountant)
Course was generic on topics covered during the presentation.
Renae Pryjmak
( at Rocket Lab)
thanks - this was a good refresher and helpful for reviewers
Anonymous
(CFO)
Very basic; be good for someone with no bank recon experience
Anonymous
(Staff Accountant)
I was not a fan of the font. It was sometimes hard to read.
Ewa Phillippy
( at DXP Enterprises Inc)
very poorly written exam questions, extremely confusing.
Chad Gallion
(Audit Senior at EKS&H)
This course was a good overview of a basic cash rec.
Christopher Hole
(Director of Internal Audit at Roseburg Forest Products)
Short course, but worth the time as a quick review.
Anonymous
(Tax Staff)
a good example of a bank reconciliation worked out.
Anonymous
()
Well organized. Easy to follow. Practical examples.
Anonymous
(CPA)
Bank reconciliation examples excellent.
Anonymous
(CFO)
very easy to follow
Steven Moore
(Certified Management Accountant; CMA at ArdentAccounting)
Good job. Thanks!
Patrenia McAbee
(Owner at McAbee Consulting)
Good
John Thompson
(CEO at westward mgt)
good
Jacob Petersen
(Financial Analyst at DLL Group)
na
Prerequisites
Course Complexity: Foundational
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Erik SlayterAccounting Professor at Cal Poly
About Illumeo
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- Email: info@illumeo.com
- Phone: 408-400-3993
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- Av #221, Campbell, CA 95008
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