Asked by Gurlivleen Singh on May 01, 2024
Verified
If end-of-period spreadsheets are not considered part of the formal accounting records, then why are they used?
End-of-Period Spreadsheets
Financial spreadsheets compiled at the end of an accounting period to summarize the financial status and operations of a business.
Accounting Records
Documentation and books kept for the purpose of tracking all financial transactions, assets, liabilities, and equity of a business.
- Explain the purpose and use of end-of-period spreadsheets in accounting processes.
Verified Answer
CR
Celeste RamirezMay 02, 2024
Final Answer :
The end-of-period spreadsheets are tools used by accountants to collect and summarize data for various analysis and reports.
Learning Objectives
- Explain the purpose and use of end-of-period spreadsheets in accounting processes.