It is the process by which Financial Statements (Income Statement, Balance Sheet & Cash Flow Statement) are generated. It takes place at the end of an accounting period i.e. end of the month, end of the quarter, end of the year (either calendar or fiscal year).
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Financial closure/Accouting closure
给他们解释就说:”our accouting is closed this month.”
It is the process by which Financial Statements (Income Statement, Balance Sheet & Cash Flow Statement) are generated. It takes place at the end of an accounting period i.e. end of the month, end of the quarter, end of the year (either calendar or fiscal year).
cutoff day