Finalization of Accounts
What does the term Finalization of Accounts mean?
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The Accounts Finalization means preparation of accounts with precise figures and arriving at the precise gain or loss acquired. Generally an account is made by an accountant and finalized by the senior accountant or Auditor or Chartered Accountant.
A listing of the liabilities, assets, and equity of an entity at a point in time, the end of a month, or quarter, or year. It is one of the four financial statements required in a full financial report. The balance sheet gives the reader what the entity owns (assets)
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