Time Period Assumption Time period assumption is the accounting rule that time can be divided into distinct and consecutive periods and that accounting transactions can be allocated to these periods using criteria laid out by other rules and principles. It is one of a number of fundamental accountin...
A. Companies should recognize revenue in the accounting period in which it is earned. B. Companies should match expenses with revenues. C. The economic life of a business can be divided into artificial time periods. D. The fiscal year should correspond with the calendar year.Companies should ...
Home›Accounting›Accounting Principles›Periodicity Assumption or Time Period Assumption The periodicity assumption or time period assumption states that businesses can divide up their activities into artificial time periods. Since outside financial statement users want timely financial information, the ti...
(a) How does the time period assumption affect an accountant's analysis of accounting transactions? (b) Explain the term fiscal year. Accountant: The term refers to an individual who is a professional, performing the accounting functions li...
1. What is the time period assumption? A) Companies should recognize revenue in the accounting period in which it is earned. B) Companies should match expenses with revenues. C) The economic life of a business can be divided into artificial time periods. D) The fiscal year should correspond...
The time period assumption states that:A.revenue should be recognized in the accounting period in which it is earned.B.expenses should be matched with revenues.C.the economic life of a business can be divided into artificial time periods.D.the fiscal yea
The time period principle (or time period assumption) is an accounting principle which states that a business should report their financial statements appropriate to a specific time period. Stay on top of your financial activity by using an online invoicing software such as Debitoor. Sign up now...
This approach can add substantially to our understanding of accounting policy choices, but not in the manner used by Anderson and Zimmer. Where accounting policy choices are believed to be independent from one period to the next, then a time series approach can greatly enhance our ability to ...
The economic life of a business can be divided into artificial time periods.
Comparison with a traditional approach using a "stationary independent period-by-period" (SIPP) assumption to set staffing requirements and an integer program (IP) to choose shifts indicates that the traditional approach can significantly overestimate the service level that results from a schedule. ...