Closing the Books: An Accountant's Guide ON DEMAND
Available Until
Your Desk
13.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Closing the books is one of the key functions of the accounting department. This course reveals how to do so promptly and accurately, so that financial statements can be issued shortly after the end of the reporting period. This self-study CPE course discusses the entire process of how information is summarized into the financial statements, as well as the many reporting formats that are available. It covers the full range of closing steps and shows how to fine-tune the closing process to achieve a shorter close. In addition, the course addresses the controls and record keeping needed for the closing process. In short, this course be considered a desk reference for anyone who closes the books on a regular basis.
Highlights
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, and more.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Identify the types of subsidiary ledgers. Specify the applications of the different types of trial balances. Identify the types of journal entries used to modify account balances and record transactions. Recognize the core and delayed steps used to close the books. State the methods used to fine-tune the closing process, and which activities do not improve the process. Identify bank reconciliation terminology, as well as the applicability of petty cash reconciliations. Identify the situations in which revenue can be recorded, as well as how to rebill expenses. Identify the methods used to assign costs to inventory and increase the accuracy of inventory records, and more.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
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 $67.00
Member Price $58.00