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Interim closing
 
#1
25/01/2012 05:04
Explain why a business will normally prepare interim statements at the end of each month and close the books only once a year. Include in your discussion the difference between interim period and the end of an accounting cycle. What will happen if a company chooses to not close the books.
 
 
 
#2
25/01/2012 15:35
interim closing is done to have mangement reports of profitability and other purposes, like analysis of budgeted vs actual and so on. in many counteries quarterly closing and publishing of financial statements is required for companies listed in stock exchanges. there are many other reasons due to which interim clsoing is required
 
 
 
#3
25/01/2012 15:37
closing of books is a security measure. after you close your