From the course: Reading Corporate Financial Statements
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Understanding year-end close
From the course: Reading Corporate Financial Statements
Understanding year-end close
- Every good story has a complete ending and the hope for more. And the story of every fiscal year is no different. The year-end process truly is similar to writing a novel that has a sequel. You have to properly close out the current novel while also setting the stage for the story to continue. Let's keep that analogy in mind as we think about what it takes to prepare the year end financial statements. Let's follow an example of a service business. A white glove carwash. You may have one near you. You drive in, they take your car and while they're cleaning your car inside and out you're having a cup of coffee and a cookie in their waiting area. I often wonder when I'm waiting if the individuals who are cleaning up my messes know about the fiscal year. This side has always followed with the hope that they're rewarded with hefty bonuses for performing so well at their jobs. I always tip them of course. My point is is…
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Contents
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What stories do financial statements tell?5m 27s
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(Locked)
The role of the accounting cycle3m 37s
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Understanding year-end close4m 58s
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(Locked)
Finding financial statements for publicly traded companies3m 38s
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(Locked)
Challenge: Finding financial statements1m 16s
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(Locked)
Solution: Finding financial statements1m 7s
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