How does R2R differ from the monthly close?

Detailed Explanation

The close is an event inside R2R, not a synonym for it. R2R is the standing process: how transactions are recorded, how journals are governed, how accounts are reconciled, and how results are reported. The close is the periodic cycle in which that process is exercised and a set of statements is produced. The distinction matters practically. Trying to fix close timing by working harder during close addresses the event; fixing it durably usually means changing the process that runs the other three weeks of the month.