解析 A:Accounting Period :(1) In general, the time period reflected by a set of financial statements. (2)"Time covered by financial statements, which can be for any length but is usually annual, quarterly,... 分析总结。 下载app视频解答...
An accounting period is the period of time covered by a company’s financial statements. Common accounting periods for external financial statements include the calendar year (January 1 through December 31) and the calendar quarter (January 1 through March 31, April 1 through June 30, July 1 th...
Definition:An accounting period, also called a reporting period, is the amount of time covered by thefinancial statements. In other words, it’s the time frame of activities that are summarized in the financials. Most general-purpose financial statements include business activities over the course ...
There are businesses that need to prepare their financial statements every month for internal accounting. For them, the accounting period is one month. Definition of accounting period duration also changes for the firms engaged in fresh commodities. As they may carry out even weekly accounting ...
Reporting revenues in the period in which they are earned is known as the accrual basis of accounting. Hence, a company’s revenue could occur before the cash is received, after the cash is received, or at time that the cash is received. (Note that for income tax reporting, smaller ...
题目 What is the purpose of adjusting entries at the end of an accounting period? 答案 B 解析 null 本题来源 题目:What is the purpose of adjusting entries at the end of an accounting period? 来源: 英语会计考试题目及答案 收藏 反馈 分享...
What are the steps of the accounting cycle? Financial Statements: Financial statements help evaluate a company's financial performance over a specific period. It is essential to determine whether the company is profitable and meeting its financial goals, objectives, or targets. ...
An accounting year is a twelve to eighteen month period over which a company's accounts are calculated. Several financial reports are issued based on this time period.
There are typically multiple accounting periods currently active at any given point in time. For example, assume the accounting department of XYZ Co. is closing the financial records for the month of June. This indicates the accounting period is the month (June), although the entity may also w...
Temporary accounts are used to record accounting activity during a specific period. All revenue and expense accounts must end with a zero balance because they're reported in defined periods. They're not carried over into the future. A hundred dollars in revenue this year doesn't count as $100...