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What is the periodic adjustments that have to be done before closing the period ?

Accounting Closing Deals
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Question added by Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies
Date Posted: 2016/10/17
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Ahmed Mostafa
by Ahmed Mostafa , Manager, Forensics , KPMG ME

For the matching basis of accounting there are some adjustment have to be done by the end of the financial period , and this step guarantee to carry the period with it's Revenues and expenses , there are some famous adjustment and it have to be done for the accrued and advanced expenses and revenues , deprecation, bank reconciliation, inventory evaluating ... and so on

Wilfredo Quito
by Wilfredo Quito , Accounting Manager , DDC LAND INC.

I agree with previous answers

Hussein Mostafa Salem Radwan
by Hussein Mostafa Salem Radwan , مدير مالى , مجموعة شركات الترا اليتينج تكنولوجى ) لالضاءة – لالستيراد والتصدير – الترا باور – اوميجا – بيجا – ال

I agree with Professor answer / Ahmed Mustafa

Waleed Abdul Kader
by Waleed Abdul Kader , مدقق محاسبة رئيسي Senior Auditor، مدير موقع www.f2aw.com , يسري وشركاه لتدقيق الحسابات Youssry & Co Auditing

Periodic adjustments or adjusting entries that's doing to correct revenues and expenses in same periodic, and to adjusting any balance not correct, like cash or bank or inventories or accounting receivable or accounting payable 

thanks & Regards

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