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Secure Transaction The Soft Close
Format
Self-Study
Course Level
Overview
CPE Credits
1 Credits: Accounting
Course Description
Closing the books is a critical yet complex task for companies, requiring meticulous attention to detail to produce accurate financial statements. This course, The Soft Close, addresses the challenges of the traditional hard close process and introduces the concept of a soft close as a potential solution. It agitates the intensive workload and time constraints associated with the hard close, highlighting the need for a more efficient approach without compromising the accuracy of financial statements. The course provides a comprehensive overview of the soft close method, discussing when and how it can be appropriately used, its risks, and its applicability in various reporting periods for both public and private companies. Participants will also learn about ancillary topics such as recommended disclosures and implementing a soft close in a multi-subsidiary environment. This course is essential for accountants seeking to streamline their closing process while maintaining the integrity of financial reporting.
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
1183425
May 31, 2023
There are no prerequisites
None
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. 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 …
QAS Self-Study
