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Meaning & use

closing period

noun·Everyday

Last updated

UK/ˈkləʊzɪŋ ˌpɪəriəd/
US/ˈkloʊzɪŋ ˌpɪriəd/

Meanings

  1. nouncountable

    The final part of a fixed stretch of time, such as a year or a season, when something comes to an end.

    Grammar: Countable, so it takes a/an or a plural: a closing period, several closing periods.

    Patterns

    • the closing period of something
    • during the closing period
    • a closing period for something

    Sales usually rise during the closing period of the holiday season.

    The closing period of the school year is always busy with exams.

    We saw very little rain in the closing period of the summer.

  2. nouncountablebusinessfinance

    In business and accounting, the time at the end of a reporting year when a company finishes its accounts and closes its books.

    Grammar: Often used with the definite article: the closing period. It can be modified by words like monthly, quarterly, or annual.

    Patterns

    • the closing period for something
    • enter the closing period
    • extend the closing period

    The finance team works long hours during the closing period.

    Our auditor asked us to shorten the closing period this year.

    She prepared the final reports before the closing period ended.

Word forms

pluralclosing periods

Common combinations

during the closing period
During the closing period, the office stays open late every night.
the closing period of the year
Bonuses are often paid in the closing period of the year.
enter the closing period
We enter the closing period next Monday.
extend the closing period
The manager decided to extend the closing period by one week.
the closing period for accounts
The closing period for accounts is shorter this quarter.

Synonyms and how they differ

final phase
Final phase is more general and can describe any process, while closing period usually refers to a fixed block of time such as a year or season.
end period
End period is less common and sounds more technical; closing period is the standard term in business writing.
year-end
Year-end refers specifically to the end of a financial year, while closing period can be monthly, quarterly, or yearly.

Opposites

opening period

Word family

close verb
To bring something to an end, such as closing the books at the end of a period.
closure noun
The act of closing something permanently, often a business or a road.
closing adjective
Coming at the end of an event or period, as in a closing speech.

Commonly confused: closing period or closing time? closing period or period closing?

closing period vs closing time

Closing time is the exact moment a shop or bar stops serving, while closing period is a longer stretch of days or weeks at the end of a reporting cycle.

closing period vs period closing

Period closing is the accounting task itself, while closing period is the time frame in which that task happens.

Practice

The finance team works late every night during the ______ of the year.

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