How to Do Month-End Accounting Procedures

Step by Step Detailed Guide on How to Do Month-end Accounting Prodedures

Created by: Sterling Libs FCCA
Chartered Accountant with over 20 years of Experience.

What Will I Learn?

• Gain a thorough understanding of the importance of month-end procedures and how they fit into the overall financial management cycle.
• Master the techniques for reconciling various accounts such as bank accounts, accounts receivable, and accounts payable to ensure all transactions are accounted
• Identify and make necessary adjusting entries and corrections to accurately reflect the financial position of the business.
• Discover best practices for implementing and maintaining internal controls to prevent errors and fraud during the month-end closing process.
• Understand the importance of inventory counts and adjustments, and learn how to properly account for inventory in financial statements.
• Develop the ability to create insightful management reports that provide valuable information for decision-making and strategic planning.

Requirements

• A basic understanding of accounting principles up to the Trial balance level is essential. We start from the fundamental concepts of month-end and build up to more advanced topics, ensuring that all learners can keep up.

Target audience

• This course is ideal for accounting professionals, bookkeepers, accounts assistants, and financial accountants who are responsible for managing the month-end accounting procedures but need o have more confidence in understanding of the process. It is also beneficial for those seeking to enhance their accounting skills and knowledge for career advancement.