quarterend

Quarterend refers to the end of a fiscal quarter in accounting and finance. It is the point at which a company closes its books for the three-month period and prepares interim financial statements. In many organizations, quarters align with the calendar year, ending Q1 on March 31, Q2 on June 30, Q3 on September 30, and Q4 on December 31, but some companies operate on different fiscal years, with quarter ends that vary accordingly.

Closing at quarter-end involves cut-off procedures to ensure revenues and expenses are recorded in the correct period. Typical activities include accruals for expenses incurred but not yet billed, deferrals and prepayments adjustments, inventory valuation, depreciation and amortization updates, and tax provisions. The resulting statements—the income statement, balance sheet, and cash flow statement—support internal management reporting and external disclosures.

Quarter-end reporting is important for investors and regulators. Public companies often issue quarterly earnings releases and file interim reports that comply with accounting standards such as GAAP or IFRS. The quarter-end data is also used for performance analytics, budgeting, forecasting, and benchmark comparisons with prior periods.

Practices vary by organization. Some have a formal closing checklist and extended cut-off times for shipments and revenue recognition. Others perform less formal reviews. The term is sometimes used interchangeably with month-end or year-end in planning discussions, but it denotes the end of a specific three-month period.

See also Fiscal quarter, Accounting period, Interim report.