Yearend

Yearend, also written year-end, refers to the period at the close of a calendar year or a fiscal year. The term is used in accounting, business planning, and personal finance to describe activities and reporting that take place as the year concludes and the new year begins.

Timing and scope: For most organizations with a calendar year, yearend occurs on December 31, though many use a fiscal year that ends on a different date. The yearend period can include closing tasks for the last month or quarter, culminating in the issuance of annual financial statements and tax documents.

In accounting and finance: The yearend close involves compiling financial statements, making adjustments, completing inventories, applying depreciation and amortization, recognizing revenue, and preparing for audits. The results inform budgeting and forecasting for the next year, and feed into annual reports for investors and regulators.

In management and governance: Performance reviews, incentive calculations, and strategic planning are often aligned with the yearend. Companies frequently set deadlines for closing processes to meet reporting timelines and regulatory requirements.

In personal finance and culture: Individuals reflect on the year, plan savings, and prepare for tax obligations. Yearend holidays, bonuses, and gift-giving are common in many regions, while different fiscal calendars are used in other contexts.