One of the most difficult tasks for the practicing accountant is closing the books at the end of each month and produce a quality set of financial statements in a timely manner. From the perspective of the rest of the company, it may be considered the most important accounting function of all. This course walks you through every aspect of closing the books, including specific closing activities, how to construct the financial statement package, the controls and record keeping systems needed to close the books, and how to fine-tune the process.
General Ledgers and Other Ledgers. Trial balance. Journal Entries. Closing Process. Fine-Tune the Closing Process. Closing Cash. Closing Accounts Receivable. Closing Inventory. Closing Fixed Assets. Closing Accounts Payable. Closing Payroll. Income Statement. Balance Sheet. Statement of Cash Flows. Statement of Retained earnings. Financial Statement Disclosures. Segment Reporting. Interim Reporting. earnings per Share. Public Company Close. Controls for Closing the Books. Soft Close and Virtual Close.
CPAs, CFOs, controllers, financial professionals, and auditors.
Cite an example of a common subsidiary ledger. Identify what is recorded in the purchase ledger. Identify the purpose of an adjusted trial balance or extended trial balance. Specify where line items in a trial balance originate. State the offset account of accrued revenue. List the purpose of a reversing entry and income summary account. Identify why accountants are assigned to make journal entries, and more.
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $404.00
Member Price $351.00