By completing this course, you will be able to:

• Explain the purpose and importance of closing entries in the accounting cycle  
• Identify which accounts require closing at the end of an accounting period
• Prepare closing entries to transfer temporary account balances to permanent accounts
• Differentiate between temporary and permanent accounts
• Demonstrate the process of resetting revenue, expense, and drawing accounts to zero
• Record closing entries accurately using journal entries and ledger postings
• Evaluate the impact of closing entries on financial statements and retained earnings
• Apply closing procedures in both manual and computerised accounting systems
• Develop a sound understanding of post-closing trial balances and their significance in financial reporting