closing the books

…
[Corporate accounting settlement]
Closing the books is the act of closing the ledger accounts based on the ledger accounting records. In double-entry bookkeeping, all events that affect a company's assets, liabilities, and capital through business activities are called transactions, and the two opposing flows of value brought about by the transaction (for example, in the case of a purchase transaction of goods, on the one hand, the increase in the asset of goods and on the other hand, the decrease in the asset of cash, which are positive and negative flows of value) are recorded from two sides (double entry).

*Some explanations of terms that refer to "closing the books" are listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…
【企業会計上の決算】
　元帳の勘定記録に基づき，元帳勘定を締め切ることを決算closing the booksという。複式簿記では，企業活動を通じ企業の資産，負債および資本に影響を与えるいっさいの事象を取引と呼び，取引によってもたらされる相対立する二つの価値の流れ(たとえば商品の購入取引の場合，一方で商品という資産の増加と他方で現金という資産の減少というプラス量とマイナス量との価値の流れ)を2面から(複式で)記録する。…

※「closing the books」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報