Quarter End is the closing of the financial operations and records at the end of a fiscal quarter, which is a three-month period within a fiscal year. Businesses and organizations conduct various activities during a Quarter End including preparation of financial statements, reconciliation of accounts, and assessing quarterly performance.
For instance, a company may prepare a summarized income statement at the Quarter End to evaluate its profitability over the last three months. These activities are essential for ensuring accurate reporting and making informed business decisions. Quarter End closing tasks are also important for regulatory compliance and investor reporting.
An Example: "At Quarter End, the finance team prepared all necessary reports and conducted a thorough Balance Sheet review to ensure there were no discrepancies."