Closing Procedures and Financial

This course shows you how to create a worksheet used to adjust the account balances and prepare the financial statements. Use your financial statements to measure performance, make improvements and set goals. The final step covered in this course is closing your books and preparing them for the next accounting period; this is done by journalizing and posting closing entries.
This course is offered in partnership with Learning Education Resource Network - UGotClass. For more information see http://yougotclass.org/index.cfm/VCC

Prerequisites

What you will learn

• Prepare a Worksheet
  What is a worksheet
  Columns included in the worksheet
  Completing each column
• The Income Statement
  · Review the worksheet columns for the Income Statement
  · Prepare the income statement
  · Determine a profit or loss
• The Balance Sheet
  · Review the worksheet columns for the Balance Sheet
  · Prepare the balance sheet
• Closing Entries and Statement of Changes in Owner’s Equity
  · Prepare post-closing entries for revenue and expense accounts
  · Prepare a statement of changes in owner’s equity
  · Applying year-end steps monthly or quarterly

How to register

This course is offered as part of a VCC program only.

Contact us

If you have any question, please email at advising@vcc.ca.

† This information is intended as a guideline only. Program and course details are subject to change with the approval of VCC's Board of Governors.