Accounting Period

What Is an Accounting Period?

 

Definition

The length of time for which separate business records (financial statements) are prepared is known as accounting period.
Accounting period varies according to the nature of the business. It may consist of three months or six months but normally accounting period consists of one year.

Example

If a business maintains its records from January to December, it is called “Accounting Period” of that business.

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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