Month end Close Procedures – 26 May 2025

The purpose of this webinar is to equip accountants and bookkeepers with a clear understanding of the month-end close procedures, ensuring accuracy and efficiency in financial reporting. Attendees will learn the key steps involved in preparing and finalising month-end financials, including reconciliations, accruals, adjustments, and financial review processes. By the end of the session, participants will have practical insights into how to streamline their month-end close activities, identify common challenges, and ensure compliance with relevant accounting standards, leading to more effective and timely reporting for their clients or organisations

Date:

26 May, 2025

Time:

15:00

Hours:

1 hour

CPD Units:

Group:

Channel 2: Growth

Format:

Live Event

Month end Close Procedures - 26 May 2025

Month end Close Procedures - 26 May 2025 - Image 2

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Product Information

Join us for a fun, interactive webinar that will transform your month-end close process from stressful to seamless! Whether you’re an accountant or bookkeeper, you’ll learn the tips, tricks, and insider secrets to breeze through reconciliations, adjustments, and financial reviews with confidence. We’ll break down complex concepts into simple, practical steps and share time-saving strategies to help you close the books faster and more accurately. Plus, you’ll walk away with a powerful checklist and best practices that will make your next month-end close smoother than ever. Don’t miss out—register now to take your financial game to the next level!

What will set you apart

By attending this webinar you will gain the following competencies

Overview of Month-End Close Process

Understanding the importance of an organized and structured month-end close process.

Key objectives and outcomes of the month-end close for financial reporting.

Reconciliations

Steps to reconcile bank accounts, accounts payable, accounts receivable, and other key balance sheet accounts.

Identifying and resolving discrepancies in financial records.

Accruals and Adjustments

How to manage accruals for expenses and revenue recognition to ensure accuracy.

Making appropriate adjusting journal entries for prepayments, deferred income, and other adjustments.

Review of Financial Statements

Best practices for reviewing the trial balance, income statement, and balance sheet for accuracy.

Common mistakes to look out for during the review process.

Month-End Documentation and Working Papers

Compiling and organizing working papers that support financial entries and adjustments.

Ensuring proper documentation for audit and compliance purposes.

Event breakdown

Welcome and Introduction

Overview of the session

Importance of efficient month-end close processes

Understanding the Month-End Close Process

Key objectives and goals of the month-end close

Overview of essential tasks and responsibilities

Account Reconciliation Best Practices

Bank reconciliations, accounts payable, and receivable

Identifying and resolving discrepancies

Managing Accruals and Adjustments

Accruals for expenses and revenue recognition

Adjusting entries and handling common errors

Fixed Asset Registers and Depreciation

Maintaining accurate fixed asset registers

Recording depreciation and compliance requirements

Financial Review and Reporting

Reviewing financial statements for accuracy

Common mistakes and how to avoid them

Streamlining the Month-End Close Process

Time-saving strategies and tips

Using checklists to improve efficiency and accuracy

Q&A and Wrap-Up

Open floor for questions

Key takeaways and next steps

Certificate

The following event is awarded 1 CPD unit in Financial Reporting

Presenter/s

Leana van der Merwe

Leana: Leana van der Merwe, with 18+ years in accounting and corporate governance, Leana leads technical support at CIBA and is a recognized thought leader in regulatory compliance.