year-end closing

  

Definition

An accounting procedure undertaken at the end of the year to close out business from the previous year, carry forward balances from the previous year, and open posting accounts for the upcoming year. Year-end closing is part of a company's closing operations, and is used to create a company's financial statements. See also month-end closing, day-end closing.

Related Videos




http://www.businessdictionary.com/definition/year-end-closing.html

Have a question about year-end closing? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z