Special purpose accounts relating to a target company or business that are drawn up following completion of an acquisition, and on the basis of which the final amount of the purchase price payable under the acquisition agreement will be calculated. Typically, completion accounts comprise a balance sheet and a profit and loss account covering the period from the date to which the target's last annual accounts were prepared up to the completion date.

As completion accounts are bespoke to a transaction, the acquisition agreement must prescribe the basis of their preparation, including: the accounting principles governing their preparation, the procedure for drawing up and agreeing the completion accounts and the mechanism for resolving any disputes concerning their preparation.

For further information, see Practice note, Completion accounts: acquisitions.