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Georgia Institute of Technological YearEnd Closing Review Checklist June 30, 2022, Preparer: ___Unit Name(s): ___The Institutes Fiscal YearEnd Closing Review Checklist (Checklist) supports and emphasizes

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How to fill out fiscal year end closing

01

Prepare all financial documents such as balance sheets, profit and loss statements, and cash flow statements.

02

Review all transactions and ensure they are correctly recorded in the accounting system.

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Make any necessary adjusting entries to ensure the accuracy of financial reports.

04

Close out all revenue and expense accounts to prepare for the new fiscal year.

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Generate financial statements for the fiscal year and distribute them to relevant stakeholders.

Who needs fiscal year end closing?

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Any organization or entity that follows a fiscal year accounting period

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What is fiscal year end closing?

Fiscal year end closing is the process of finalizing financial statements at the end of a company's fiscal year.

Who is required to file fiscal year end closing?

All companies, corporations, and organizations are required to file fiscal year end closing.

How to fill out fiscal year end closing?

Fiscal year end closing involves reconciling accounts, adjusting entries, and preparing financial statements.

What is the purpose of fiscal year end closing?

The purpose of fiscal year end closing is to accurately report the financial position of a company at the end of its fiscal year.

What information must be reported on fiscal year end closing?

Income statement, balance sheet, cash flow statement, and notes to the financial statements must be reported on fiscal year end closing.

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