Back to P&L Review and Variance Analysis During Month-End Close
What is P&L review in the R2R process?
Record-to-Report (R2R) · Article FAQ
Detailed Explanation
P&L review in R2R is the process of examining revenue and expense GL accounts during month-end close to ensure that financial transactions are accurate, complete, properly classified, and recorded in the correct accounting period. It also involves identifying unusual account movements, missing accruals, duplicate entries, and other potential reporting issues.
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Disclaimer: This material is for educational purposes only. Every financial situation is unique. Consult with a certified professional before making significant decisions.