final account
Closing financial statement
A final account is a comprehensive financial statement prepared at the conclusion of a project, estate administration, or business period.
In estate law, executors submit a final account to the court showing all assets, debts paid, and distributions to beneficiaries.
In construction, it's the last settlement between contractor and client after all work is complete: The final account showed the project came in under budget.
Assets-liabilities-equity report
- ledgerFinancial record book
- settlementResolved dispute or colony
- closing balanceAccount total at period's end
- reconciliationRestoration of friendly relations
assets · liabilities · equity · bookkeeping · profit and loss · liquidation · disbursement · outstanding balance
Resolved dispute or colony
- wrap-upConcluding summary or review
- conclusionEnd or deduction
- terminationAct of ending something
- finalizationAct of completing something
closeout · wind-up · dissolution · estate settlement · probate · executor · inheritance · testamentary
Proving something accurate
- inspectionFormal assessment of condition
- complianceAdhering to requirements
- scrutinyClose, careful examination
- reviewCritical written assessment
examination · auditor · discrepancy · documentation · findings · internal audit · external audit · regulatory
Settlement of accounts
- answerabilityObligation to explain oneself
- day of judgmentTime of divine reckoning
- consequencesResults of actions taken
- divine judgmentDeity's moral verdict
karma · afterlife · eschatology · soul · redemption · atonement · retribution
balance sheet
Assets-liabilities-equity report
- ledgerFinancial record book
- settlementResolved dispute or colony
- closing balanceAccount total at period's end
reconciliation · assets · liabilities · equity · bookkeeping · profit and loss · liquidation · disbursement · outstanding balance · creditor
settlement
Resolved dispute or colony
- wrap-upConcluding summary or review
- conclusionEnd or deduction
- terminationAct of ending something
finalization · closeout · wind-up · dissolution · estate settlement · probate · executor · inheritance · testamentary · administration
verification
Proving something accurate
- inspectionFormal assessment of condition
- complianceAdhering to requirements
- scrutinyClose, careful examination
review · examination · auditor · discrepancy · documentation · findings · internal audit · external audit · regulatory · fraud detection
reckoning
Settlement of accounts
- answerabilityObligation to explain oneself
- day of judgmentTime of divine reckoning
- consequencesResults of actions taken
divine judgment · karma · afterlife · eschatology · soul · redemption · atonement · retribution