Table of Contents
Chapter 1 - The General Ledger and
Other Ledgers
The Accounts Receivable Ledger
Trial Balance Error Correction
The Post-Closing Trial Balance
Evaluation of the Trial Balance
Chapter 4 - The Closing Process
Core Steps: Issue Customer Invoices
Core Steps: Calculate Depreciation
Core Steps: Consolidate Division
Results
Core Steps: Eliminate Intercompany
Transactions
Core Steps: Review Journal Entries
Core Steps: Reconcile Accounts
Core Steps: Close Subsidiary Ledgers
Core Steps: Create Financial
Statements
Core Steps: Review Financial
Statements
Core Steps: Accrue Tax Liabilities
Core Steps: Calculate Earnings per
Share
Core Steps: Write Cover Letter
Core Steps: Issue Financial
Statements
Delayed Steps: Issue Customer
Invoices
Delayed Steps: Closing Metrics
Delayed Steps: Document Future
Closing Changes
Delayed Steps: Update Closing
Procedures
Chapter 5 - Fine-Tune the Closing
Process
Alter Overhead Allocations Early
Accelerate Depreciation Calculations
Standardize the Accounting System
Centralize the Accounting System
Standardize Exception Handling
Mitigate Information Dependencies
Reduce the Financial Statements
Collect Report Information Early
Overview of the Bank Reconciliation
The Bank Reconciliation Procedure
The Bank Reconciliation Statement
The Timing of the Bank
Reconciliation
Negative Cash on the Balance Sheet
Chapter 7 - Closing Accounts
Receivable
Reconciling Accounts Receivable
The Allowance for Doubtful Accounts
Valuation Step 1: The Quantity of
Inventory on Hand
The Perpetual Inventory System
Valuation Step 2: Inventory Costing
The First In, First Out Method
Valuation Step 3: Overhead
Allocation
Valuation Step 4: Inventory
Valuation
The Lower of Cost or Market Rule
Chapter 9 - Closing Fixed Assets
Chapter 10 - Closing Accounts
Payable
Issues with the Credit Card Close
Accounts Payable Suspense Items
Reconciling Compensation Accruals
Chapter 12 - The Income Statement
The Single-Step Income Statement
The Multi-Step Income Statement
The Condensed Income Statement
The Contribution Margin Income
Statement
The Multi-Period Income Statement
Presentation of Selling, General and
Administrative Expenses
How to Construct the Income
Statement
The Cash Basis Income Statement
Chapter 13 - The Balance Sheet
How to Construct the Balance Sheet
Does an Expense Appear on the
Balance Sheet?
Where do Accruals Appear on the
Balance Sheet?
Chapter 14 - The Statement of Cash
Flows
Overview of the Statement of Cash Flows
Illustration of the Preparation of a
Statement of Cash Flows
Chapter 15 - The Statement of
Retained Earnings
Overview of the Statement of
Retained Earnings
How to Prepare the Statement of
Retained Earnings
Chapter 16 - Financial Statement
Disclosures
Chapter 17 - Segment Reporting
Products, Services, and Customer Disclosure
Chapter 18 - Interim Reporting
General Interim Reporting Rule
Variations from the Interim
Reporting Rule
Changes in Accounting Principle in
Interim Periods
Changes in Accounting Estimate in
Interim Periods
Error Correction in Interim Periods
Adjustments to Prior Interim Periods
Comparison of the Integral and
Discrete Views
Disclosures for Interim Reporting
Chapter 19 - Earnings per Share
Presentation of Earnings per Share
Chapter 20 - The Public Company
Close
The Public Company Closing Process
Chapter 21 - Controls for Closing
the Books
Preventive and Detective Controls
Additional Controls for Public
Companies
Balancing Controls against Speed
Chapter 23 – Soft Close and Virtual
Close
Final Examination....................................................................................................................................257