Mastering Year-End Adjustments is one of the most important steps in preparing accurate financial statements. Whether you are a student, accounting professional, or entrepreneur, understanding these adjustments ensures that your Profit & Loss Account and Balance Sheet truly reflect the financial position of the business. This reel covers the key year-end adjustments with concepts, balance sheet or P&L impact, and the journal entries you must know: Accrued Income: Income earned but not yet receiv