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6. Closing Entries – Prepayments, Accruals, Provisions and Allowances

$10.00 per 6 months

Before financial reporting, the ledger account balances are analysed to make sure they are correct for the period.

In the videos, a teacher will explain;

  • ♦How to close the profit and loss account,
  • ♦How to record prepayments and accruals, and
  • ♦How to make provisions and allowances,


If any expenditures or revenues relate to items stretching across the balance day, the accounts are adjusted.




The online tutorial course covers:

  • ♦ Unit – Closing revenue and expense accounts to the the profit and loss account,
  • ♦ Accounting Game – Closing the Profit and Loss Account
  • ♦ Video – Balance Day Adjustments – Accruals and Provisions
  • ♦ Accounting Game – Accruals and Prepayments
  • ♦ Video – Making Provisions and Allowances
  • ♦ Quiz – Provisions and Allowances
  • ♦ Accounting Game – Accruals and Provisions
  • ♦  Unit – Balance day Adjustments – Reversal
  • ♦  Quiz – Adjusting Entries


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