Financial Accounting – Closing Process

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  • The lowest price of Financial Accounting – Closing Process was obtained on June 16, 2025 5:17 pm.

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Price history for Financial Accounting – Closing Process
Latest updates:
  • $99.99 - June 16, 2025
  • $12.00 - May 16, 2025
Since: May 16, 2025
  • Highest Price: $99.99 - June 16, 2025
  • Lowest Price: $12.00 - May 16, 2025
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Last updated on June 16, 2025 5:17 pm
Financial Accounting – Closing Process
Financial Accounting – Closing Process

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Price history for Financial Accounting – Closing Process
Latest updates:
  • $99.99 - June 16, 2025
  • $12.00 - May 16, 2025
Since: May 16, 2025
  • Highest Price: $99.99 - June 16, 2025
  • Lowest Price: $12.00 - May 16, 2025

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Financial Accounting – Closing Process

★★★★★
$99.99  in stock
Udemy.com
as of June 16, 2025 5:17 pm

Conquering the Closing Process: A Thorough Exploration of the Final Step in Accounting

Created by: Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI
Rating:4.43 (1568reviews)     57561students enrolled

What Will I Learn?

  • Comprehend the accounting cycle's structure and pinpoint the role and timing of the closing process within it.
  • Articulate the primary objectives of the closing process in financial accounting and why it is critical for accurate financial reporting.
  • Analyze how the closing process impacts asset, liability, and equity components of the balance sheet, and interpret the implications for the company's financial
  • Examine the effect of the closing process on the elements of the income statement, particularly revenues, expenses, and net income.
  • Define temporary and permanent accounts, distinguish between them, and illustrate their roles in the accounting cycle.
  • Categorize a variety of accounts as temporary or permanent, providing rationale based on accounting principles.
  • Explain how the closing process transforms temporary accounts and leaves permanent accounts unaffected, and discuss the significance of these changes.
  • Prepare a post-closing trial balance, identify its components, and articulate its purpose in validating the closing process.
  • Compare a post-closing trial balance with an adjusted trial balance, highlighting the key differences and how they emerge.
  • Perform the closing process in one comprehensive step, documenting each action, and evaluate the advantages and limitations of this method.
  • Break down the two-step closing process into its constituent actions, apply these in practical examples, and justify the use of this method over others.
  • Demonstrate mastery in the four-step closing process by outlining, performing, and explaining each step's role.

Requirements

  • Basic understanding of financial terms and principles: As this course is intermediate-level, it's beneficial for students to have a foundational knowledge of finance and accounting. However, the course does review key concepts in detail.
  • Willingness to participate: Engagement with the downloadable materials, practice questions, and discussions will significantly enhance your learning experience. Be ready to be an active learner.
  • Access to a computer or laptop: To engage with the course materials fully, including Excel practice files, students will need access to a device where they can download and work on files.
  • Time commitment: The course is designed to be comprehensive and immersive. Be prepared to commit enough time to thoroughly understand each module's content and complete the related activities.

Target audience

  • Accounting and finance students: This course is perfect for undergraduate or graduate students studying accounting or finance, looking to reinforce their classroom learning or prepare for exams.
  • Early-career accountants: Professionals at the beginning of their accounting career can use this course to strengthen their understanding of the accounting closing process.
  • Non-finance professionals: Individuals working in non-finance roles, such as entrepreneurs or managers, could also benefit from understanding the fundamentals of the accounting cycle to better understand their businesses.
  • CPA Exam Candidates: Those studying for the CPA exam or any other accounting certification will find this course extremely helpful for the section related to the closing process.

Price History

Price history for Financial Accounting – Closing Process
Latest updates:
  • $99.99 - June 16, 2025
  • $12.00 - May 16, 2025
Since: May 16, 2025
  • Highest Price: $99.99 - June 16, 2025
  • Lowest Price: $12.00 - May 16, 2025

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