MONTH-END CLOSING
\mˈʌnθˈɛnd klˈə͡ʊzɪŋ], \mˈʌnθˈɛnd klˈəʊzɪŋ], \m_ˈʌ_n_θ_ˈɛ_n_d k_l_ˈəʊ_z_ɪ_ŋ]\
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A month-end accounting procedure for closing the current posting period as a company's monthly periodic closing operations. Fixed assets depreciation, inventory discrepancy reconcilement, work-in-progress material settlement, payroll, and billing content posting are all types of accounting procedures addressed in month-end closing. See day-end closing, year-end closing.
By Henry Campbell Black
Word of the day
Platidiam
- An inorganic water-soluble platinum complex. After undergoing hydrolysis, it reacts DNA produce both intra interstrand crosslinks. These crosslinks appear to impair replication and transcription of DNA. The cytotoxicity cisplatin correlates with cellular arrest in G2 phase cell cycle.