What is R2R in Accounting?

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R2R stands for Record to Report, which is a finance and accounting process that involves recording financial transactions and preparing financial statements.

R2R is a crucial process in accounting that involves recording financial transactions, reconciling accounts, and preparing financial statements.
It includes activities such as journal entries, general ledger maintenance, balance sheet reconciliations, and financial reporting.
The process ensures that financial data is accurate, complete, and compliant with accounting standards and regulations.
Examples of R2R activities include closing the books at the end of a period, preparing financial statements such as the balance sheet and income statement, and reconciling bank accounts.
R2R is often outsourced to third-party service providers to reduce costs and improve efficiency.

What is R2R in Accounting?

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