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Recommendation Details
Text of Recommendation
Prepare and analyze monthly reconciliations of subsidiary and summary accounts balances. Consider a "formal closing" of all accounts at an interim dates which will reduce the level of accounting activity and analysis required at year-end. This "formal interim closing" entails ensuring that all transactions are recorded in the proper period through the month-end.
Recommendation Number
10
Recommendation Status
Closed
Significant Recommendation
No