Accounting Procedures for the End of the Year

Accounting procedures is the system or processes of recording and reporting financial information. Accounting procedures varies according to the time of the year whether it is the beginning or the year end. The end of the year is the time that businesses close their account and start preparing for the statutory audit. Accounting procedures for the year end provides opportunity for businesses. In your business, this last quarter should be used to assess tidy up your accounting.

The review of your accounts before year ends always make it possible to make decisions that will affect profitability. growth and tax liability. Once the year ends, it becomes difficult, due to getting things in place for the new year. Book an appointment with your accountant to review your financials. It is advisable to adopt the following steps in reviewing your accounting year end procedures. Continue reading…

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