Introduction

To equip accountants and bookkeepers with a clear understanding of the month-end close procedures, ensuring accuracy and efficiency in financial reporting. 

Category: Business Education – Financial Reporting.

Channel 0 and 1: Foundation and Compliance

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Information

Format: Webinar

CPD Units: 2

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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.  

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Certificate

The following event is awarded 2 CPD units in Business Education – Financial Reporting

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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.

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Get Access to Related Accounting Weekly Articles

Accounting Weekly

Please note reading Accounting Weekly articles count towards non-verifiable CPD.

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