Examlex
What is the definition of the following term:
-Exodus:
End-of-period Spreadsheet
A financial document used to summarize account balances and adjustments at the conclusion of an accounting period before preparing financial statements.
Closing Entries
Entries recorded at the conclusion of a fiscal period to move balances from temporary accounts to permanent ones, thus readying the accounts for the upcoming period.
Closing Entries
Entries in the journal made during the closing of an accounting period to move balances from transitory accounts to enduring accounts.
Fiscal Year
A one-year period that companies and governments use for financial reporting and budgeting, different from the calendar year.
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