Financial closings are an essential part of the overall financial management process. A financial closing is the full cycle of activities that occur at the end of a reporting period, including data collection and analysis, risk assessment, decision-making, and reporting. These activities are designed to ensure accuracy in financial statements, compliance with legal and regulatory requirements, and identification and mitigation of potential risks. The goal of this closing process is to present accurate, up-to-date financial information that provides stakeholders with reliable data on which to make informed decisions.