Month-End and Year-end Closing Procedures 2024
Presenters : Bekithemba Ndebele ACCA
Overview
Proper month-end and year-end closing procedures are an essential part of ensuring that financial statements accurately reflect a company's financial performance and position, and in turn, accurate financial statements are important in making informed business decisions.
This webinar will assist bookkeepers, accountants and compilers to improve the accuracy and efficiency of the closing process, ensure compliance with local accounting and tax regulations, and produce accurate financial statements.
Join Bekithemba Ndebele (ACCA), as she provides you with practical knowledge and insights into the best practices for effectively managing the closing process.
Learning objectives
By attending this webinar you will gain the following competencies:
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Gain an understanding of the importance of month-end and year-end accounting procedures.
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Gain an understanding of the role proper month-end and year-end procedures play in accurate management and financial reporting.
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Learn what month-end and year-end procedures need to performed and why those procedures are required.
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Understand the steps involved in the month-end and year-end closing processes and procedures.
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Appreciate the application of technology in performing month-end and year-end closing procedures.
Content
The webinar will cover the following topics:
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Month-end and year-end closing procedures
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Monthly accounting cycle
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Bank reconciliation
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Payables reconciliation
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Receivables reconciliation
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Adjusting entries for accruals and deferrals
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Reviewing Fixed Asset Register and making necessary adjustments
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Depreciation computation and making depreciation journals
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Reviewing inventories and making inventory adjustment journals
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Closing revenue and expenses accounts
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Reviewing the General ledger and making necessary adjustments
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Application of technology in performing month-end and year-end closing procedures
