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UNITED STATES MARINE CORPS Financial Management School Marine Corps Service Support Schools Training Command PSC Box 20041 Camp Jejune, North Carolina 285420041STUDENT OUTLINEFMOC 0206FISCAL YEAR
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Fiscal year close-out procedures are the set of actions and tasks that are performed at the end of a fiscal year to finalize financial records and prepare for the next fiscal year.
All organizations and entities that operate on a fiscal year basis are required to file fiscal year close-out procedures.
Fiscal year close-out procedures are typically filled out by designated financial personnel within an organization following specific guidelines and templates provided by governing authorities or accountants.
The purpose of fiscal year close-out procedures is to ensure accurate financial reporting, compliance with regulations, and proper preparation for the upcoming fiscal year.
Information such as financial statements, budget vs. actual comparisons, reconciliation of accounts, and any necessary adjustments are typically reported on fiscal year close-out procedures.
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