Definition: The closing adjustment period of a company's accounting year.
The year end is when a company must work through the process of adjusting each of their financial entries to a certain account in order to properly state these entries for the purpose of financial statement preparation.
There are numerous types of required adjustments. These adjustments could include:
The accounting year end date will take place on the first anniversary of the end of the month in which it was incorporated, no matter what twelve month period a company's accounting year covers.