Closing Procedures and Financial Statements
In this course, you will learn how to determine your profit/loss, close the books and prepare financial statements: the Income Statement and the Balance Sheet. You will prepare your books for the new year.
What You'll Learn
The finish line of the accounting cycle.
✓ How each step of the accounting cycle fits together, and how to complete the worksheet.
✓ How to handle the last month-end of the year, temporary accounts, and retaining documentation.
✓ How to apply the matching principle and prepare the income statement.
✓ How to prepare the statement of changes in owner's equity and the balance sheet.
✓ How to journalize and post closing entries, then prepare a post-closing trial balance.
✓ How to complete the entire accounting cycle from start to finish in a final project.
No memorizing. No guessing. Just clarity.
✓ How to handle the last month-end of the year, temporary accounts, and retaining documentation.
✓ How to apply the matching principle and prepare the income statement.
✓ How to prepare the statement of changes in owner's equity and the balance sheet.
✓ How to journalize and post closing entries, then prepare a post-closing trial balance.
✓ How to complete the entire accounting cycle from start to finish in a final project.
No memorizing. No guessing. Just clarity.
Course Curriculum
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Welcome
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Week 1 - Agenda
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Unit 1: The Accounting Cycle
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Unit 1 - Presentation
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Unit 1 Quiz
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Week 2 - Agenda
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Unit 2: The Income Statement & Statement of Changes in Owner's Equity
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Unit 2 - Presentation
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Unit 2 Quiz
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Week 3 - Agenda
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Unit 3: The Balance Sheet
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Unit 3 - Presentation
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Unit 3 Quiz
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Week 4 - Agenda
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Unit 4: Closing Entries and Post-Closing Trial Balance
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Unit 4 - Presentation
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Unit 4 Quiz
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Final Project ~ Getting Started
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Final Project ~ Complete the Process.
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Final Project - Answer Key
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About this course
- $185.00
- 20 lessons
This Course Is Step 3 of a Certificate Program
The Bookkeeping Essentials Certificate Program
Closing Procedures & Financial Statements is the final course in the Bookkeeping Essentials Certificate Program, and its final project brings together everything from all three courses.
Step 1: Understanding Debits & Credits
Step 2: General Ledger & Month-End Procedures
Step 3: Closing Procedures & Financial Statements
Get all three for $445 and save $110. A payment plan of 2 payments of $222.50 is available on the full program.
Step 1: Understanding Debits & Credits
Step 2: General Ledger & Month-End Procedures
Step 3: Closing Procedures & Financial Statements
Get all three for $445 and save $110. A payment plan of 2 payments of $222.50 is available on the full program.
Hi, I'm Sharon.
Your instructor, and your biggest cheerleader.
I spent 10 years in corporate accounting before I started teaching, and I've now been teaching bookkeeping and accounting for 22 years through continuing education and workforce development programs at universities and colleges.
I hold a Bachelor's degree in Business Education from Temple University, a Pennsylvania Department of Education teaching certificate in Accounting, and I'm a Certified Online Instructor.
But here's what matters most: so many of my students walk in convinced they're "not a numbers person." Most of them are wrong. They just never had it explained clearly.
That's my job. Plain English, step by step, until it clicks.
I hold a Bachelor's degree in Business Education from Temple University, a Pennsylvania Department of Education teaching certificate in Accounting, and I'm a Certified Online Instructor.
But here's what matters most: so many of my students walk in convinced they're "not a numbers person." Most of them are wrong. They just never had it explained clearly.
That's my job. Plain English, step by step, until it clicks.
Questions? Good. Here are the answers.
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Do I need the first two courses first?
Yes. This course completes the accounting cycle started in Understanding Debits & Credits and General Ledger & Month-End Procedures, and the final project uses concepts from all three.
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What is the final project?
You’ll complete the entire accounting cycle from start to finish, applying everything you’ve learned across all three courses.
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Do I need accounting software?
No. You’ll learn the manual system first, which is exactly the point. Once you understand what’s happening behind the scenes, any software becomes easy.
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Is the Bookkeeping Community included?
Yes. It’s a place for students across all of my courses and Certificate Programs to ask questions, share what they’re working on, and connect with others learning the same material.
Ready to Close the Books with Confidence?
Know your numbers. Know your business.