CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

The Soft Close

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
1 Credits: Accounting

Course Description

Closing the books is one of the more detailed and complicated procedures that a company must deal with. This comprehensive hard close must be completed in order to generate sufficiently accurate financial statements for general consumption. Some accountants have found a way to mitigate the work of closing the books by using a soft close. In The Soft Close, we will discuss the soft close concept and the situations in which it can be used. We’ll also cover the risks associated with using a soft close and the situations in which this type of close can be used. Ancillary topics are also covered, including recommended disclosures and how to employ a soft close in a multi-subsidiary environment.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize the situations in which financial statements that have been produced with a soft close can be issued.
  • Identify the reporting periods in which a public or private company could use a soft close.
  • Specify the situations in which a soft close is more likely to result in financial statement errors.
  • Recognize the calculation methods used to estimate ending inventory.
  • State the types of risk environments in which a soft close should and should not be used.

Course Specifics

Course ID
1183425
Revision Date
August 25, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with …

Steven M. Bragg, CPA Read More »

The Soft Close

Expert Instructors
Format
CPE CREDITS
1 Credits: Accounting

$29.00$49.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
1 Credits: Accounting

Course Description

Closing the books is one of the more detailed and complicated procedures that a company must deal with. This comprehensive hard close must be completed in order to generate sufficiently accurate financial statements for general consumption. Some accountants have found a way to mitigate the work of closing the books by using a soft close. In The Soft Close, we will discuss the soft close concept and the situations in which it can be used. We’ll also cover the risks associated with using a soft close and the situations in which this type of close can be used. Ancillary topics are also covered, including recommended disclosures and how to employ a soft close in a multi-subsidiary environment.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize the situations in which financial statements that have been produced with a soft close can be issued.
  • Identify the reporting periods in which a public or private company could use a soft close.
  • Specify the situations in which a soft close is more likely to result in financial statement errors.
  • Recognize the calculation methods used to estimate ending inventory.
  • State the types of risk environments in which a soft close should and should not be used.

Course Specifics

Course ID
1183425
Revision Date
August 25, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with …

Steven M. Bragg, CPA Read More »

The Soft Close

Expert Instructors
Format
CPE CREDITS
1 Credits: Accounting

$29.00$49.00

Clear