Define Accounting Periods. Accounting Periods synonyms, Accounting Periods pronunciation, Accounting Periods translation, English dictionary definition of Accounting Periods. accounting period. Translations. English: accounting period n esercizio finanzi
An accounting period can really be any length of time, however. It’s just that one year is a natural period. The time frame isn’t what defines a reporting period. The issuance of financial statements and the time frame that the statements report in are what defines the length of the ...
(Accounting & Book-keeping) a.the skill or practice of maintaining and auditing accounts and preparing reports on the assets, liabilities, etc, of a business b.(as modifier):an accounting period;accounting entity. Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © Harper...
ACCOUNTING PERIOD DefinitionACCOUNTING PERIOD is the time period for which accounts are prepared, usually one year.Learn new Accounting TermsOCR is Optical Character Recognition.MARK ENDORSEMENT, normally, it is when a signatory (payee) cannot endorse with their signature, due to illiteracy or an ...
What is an accounting period?Accounting period (definition) An accounting period is any time frame used for financial reporting. Transactions that fall within a given date range form part of the statements or reports for that accounting period. An accounting period, or reporting period, is often ...
expense on its income statement for the period in which the related revenues are earned. Additionally, aliabilityshould be entered on the balance sheet for the end of the accounting period. The matching principle is associated with the accrual method of accounting and it requires entry adjustments...
Accounting period Theperiodof time for which financial statements are produced – see also financial year. Related Terms: Straight line depreciation An equal dollar amount of depreciation in eachaccounting period. Turnover Mutual Funds: A measure of trading activity during the previous year, expressed...
Economic profit is more of a theoretical calculation based on alternative actions that could have been taken, while accounting profit calculates what actually occurred and the measurable results for the period. Accounting profit has many uses, including for tax declarations. Economic profit, on the ot...
Thestatement of cash flowsshows how cash has changed over a particular accounting period. This statement helps a business see if it has the adequate cash flow to operate and pay its bills on time. The statement of cash flows differs from an income statement because it only takes into account...
Define Quarterly Accounting Period. means a quarterly accounting period of the Bank, currently being the periods consisting of 12, 12, 12 and 16 (or 17) weeks in each Fiscal Year;