Year End Adjustments

Year End Adjustments are journal entries that are undertaken at the end of the financial period to correct various ledger accounts with errors or other anomalies which breach the accounting principles, conventions and concepts.

Year End Adjustments applies when the management is aiming at furnishing the correct accounts record.

For more on this topic,please refer to our intermediate as well as advanced articles.

About the Author - Dr Geoffrey Mbuva(PhD-Finance) is a lecturer of Finance and Accountancy at Kenyatta University, Kenya. He is an enthusiast of teaching and making accounting & research tutorials for his readers.