We are selling our company mid of the month in Oct. The new company would like to have fresh data for their reports so we need to close our period when we sell( mid month close) we are using calendar dependent fiscal year.
If we change our calednar year to year dependent fiscaly year and make Oct 14th( date of the sale) to a new period what are the impacts
Or should we close 2007 on Oct 13th and start a year dependent fiscal year from Oct 14th??