Month-End proceduresForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Month-End proceduresThis topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total) AuthorPosts March 8, 2020 at 3:31 pm #564902 nikhi1eshParticipantTopics: 1Replies: 0☆If a company prepares P&L and SOFP on a yearly basis; do they have to close their revenue accounts and transfer the balance to their P&L accounts during each month-end procedure and start the new month with a zero balance in the Revenue accounts? March 8, 2020 at 6:48 pm #564920 John MoffatKeymasterTopics: 56Replies: 53816☆☆☆☆☆Although many companies do this, it is not a requirement and is not relevant for the Paper FA exam.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In