Archiving question

[Leslie Katz]

Speaking for myself, I've done financial management program archiving 
in the past, not by reason of any particular GAAP, but by reason of a 
traditional GACP. I suspect that time may have rendered this 
particular principle obsolete, given today's RAM and storage media, 
but, as a creature of habit, ....

What do you all find to be the great use in "closing books" at the end
of a year? I personally only make 12/31/xx entries to bring my
depreciation and other annual expenses into line with the accountants
numbers and march on. This allows me to do year to year comparisons and
so forth.

Is there some practical advantage that I'm missing here? Some GAAP
advantage I'm missing?