Financial Terms
けっさん決算
Financial Settlement / Closing
Definition
Kessan is the accounting procedure performed at the end of a fiscal year. Financial statements including profit and loss statements and balance sheets are prepared to finalize business performance and financial position. Corporate tax returns are filed based on the settlement results.
Examples
3月決算の会社は、5月末までに法人税の申告をします。
Companies with a March financial settlement (決算) file corporate tax returns by the end of May.