PART-TIME | WINNIPEG LOCATIONS PERPP-NA Personal/Professional Development

Courses and Descriptions

BUSA-9066Closing Procedures and Financial Statements

This course will show 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.

Upon successful completion of the course, you will be able to:

  • Prepare a worksheet
  • Be able to prepare an income statement
  • Determine a profit or loss
  • Prepare a balance sheet
  • Prepare closing entries, 
  • Prepare post-closing entries for revenue and expense accounts
  • Prepare a statement of changes in owner’s equity
  • Apply year-end steps monthly or quarterly

Class Availability

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Red River College endeavours to provide the most current version of all program and course information on this website. Please be advised that classes may be scheduled between 8:00 a.m. and 10:00 p.m. The College reserves the right to modify or cancel any course, program, process, or procedure without notice or prejudice. Fees may change without notice.