February 1999 Issue


The American Institute of Professional Bookkeepers (AIPB), the 12-year-old, 40,000-member national association of bookkeepers, has announced the country's first program to certify bookkeepers. To earn the Certified Bookkeeper (CB) designation, applicants must pass an examination on accounting, taxation, and payroll, and submit proof of experience.

The CB examination tests the skills and knowledge required to handle all the bookkeeping and accounting through the adjusted trial balance for a company of up to 100 employees. Exam subjects include accruals and deferrals, current period error correction (including bank reconciliations), depreciation (book and tax), payroll, and merchandise inventory. AIPB offers self-study courses for both members and nonmembers to help CB candidates prepare for the exam.

To receive the CB designation, bookkeepers also must have two years full-time experience or the part-time or freelance equivalent and must sign the code of ethics. The ethics statement covers various publics, including clients, society, bookkeepers, and accountants.

The CB examination, which is given in three parts, is offered at more than 300 Sylvan Learning Systems test centers nationwide. Candidates may take any part of the exam at their convenience once their registration has been accepted by AIPB. All parts of the CB exam are multiple-choice questions administered on a computer. Anyone who does not pass part of the exam can retake that portion after a 90-day period.

Some sample questions are as follows:

1) Your company prepays $60,000 of rent for one year and debits Rent Expense. Four months later, your company's year ends. To recognize the correct amount of rent expense, you must--

a. debit Rent Expense for $20,000

b. credit Rent Expense for $40,000

c. debit Prepaid Rent for $20,000

d. debit Rent Expense for $40,000

2) PliCo, which uses double-declining balance depreciation, acquires equipment with an original cost of $140,000 that the company expects to use for eight years and has a residual value of $5,000. The depreciation rate on the equipment in the first year is--

a. 25%

b. 15%

c. 10%

d. 5%

Answers are available in a free, 30-page booklet, "The Certified Bookkeeper Program," which includes all enrollment and registration forms. Call AIPB at (800) 622-0121 or fax (800) 541-0066 to order.

Registration fees for the Certified Bookkeeper program are $25 for AIPB members and $60 for nonmembers. Each of the three parts of the exam costs $85 ($255 total).

For more information, visit www.aipb.com or write the American Institute of Professional Bookkeepers, 6001 Montrose Road, Suite 207, Rockville, MD 20852. *

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