Financial Accounting – Closing Process

 

Financial Accounting – Closing Process

Closing processes including three formats of the closing process helping us better understand accounting concepts

What you’ll learn

• Describe the closing process and its importance
• Perform closing process using one journal entry
• Perform closing process using two journal entries
• Perform closing process using three journal entries
• Describe the post closing trial balance
• Define temporary accounts and permanent accounts
• Understand fundamentals of Excel

Requirements

• Basic understanding of accounting concepts and debits and credits.

Description

The financial accounting closing process is the final step in the accounting cycle. We will learn why the closing process in needed and be able to perform the closing process multiple ways.

In addition to instructional video, this course will include downloadable

•    Downloadable PDF Files

•    Excel Practice Files

•    Multiple Choice Practice Questions

•    Short Calculation Practice Questions

•    Discussion Questions

The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.

Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships

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