CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

The Soft Close

Icon_Self-Study
QAS 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
July 28, 2021
Prerequisites

There are no prerequisites

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

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)

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
CPE CREDITS
1 Credits: Accounting

$29.00$49.00

Clear
Icon_Self-Study
QAS 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
July 28, 2021
Prerequisites

There are no prerequisites

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

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)

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
CPE CREDITS
1 Credits: Accounting

$29.00$49.00

Clear