July 2, 2022

Close Your Books | SBEP Finance Class

1 min read

It’s year-end, and it’s about that time again! Everybody has to close their books in their small business. In this class, we’ll review your year-end results so that you can close your books for taxes and be prepared for next year.

00:01:08 Agenda and topics
00:01:51 What happened in 2021?
00:04:53 Accounting cycle
00:11:46 Luca Pacioli: the father of double-entry accounting
00:12:44 The accounting equation and closing your books
00:18:17 The trial balance
00:26:08 Closing your books
00:39:45 Planning for taxes
00:44:46 Action plan

This video is from the Small Business Education Program. Visit our webpage for resources, upcoming classes, and more: extension.unr.edu/BusDev

UNR Extension Presenter: Juan Salas
UNR Extension Presenter 2: Reyna Mendez

The Small Business Education Program is part of the University of Nevada Extension’s Community and Economic Development Team. The Small Business Education Program aims to instruct small business owners and entrepreneurs about fundamental business concepts while providing access and direction to informational resources. The program team is bilingual in English and Spanish and strives to deliver as much content as possible in both languages.

Do you have an idea for a future video? Do you have a business concept that you’d like to see explained? Please comment below or send us a message through the contact form found on our webpage: extension.unr.edu/BusDev

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