The Soft Close ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
This course shows how the accountant can minimize the time needed to close the books and issue financial statements. This involves the elimination of some closing steps, thereby presenting a tradeoff of somewhat reduced financial statement accuracy for much less closing effort. The course notes the risks involved and the situations to which a soft close can most readily be applied. In short, this course provides the accountant with a complete toolkit of solutions for streamlining the closing process.
Highlights
Soft close overview. Overhead allocations. Intercompany eliminations. Reserve account updates. Revenue accruals.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Recognize the situations in which financial statements that have been produced with a soft close can be issued. Identify the reporting periods in which a public or private company could use a soft close. Specify the situations in which a soft close is more likely to result in financial statement errors. Recognize the calculation methods used to estimate ending inventory. State the types of risk environments in which a soft close should and should not be used.
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 $33.00
Member Price $29.00