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What is a accounting period of twelve months duration usually referred to as?

fiscal year


What accounting period is one year long?

An accounting period that is one year long is referred to as a fiscal year. This period can align with the calendar year, running from January 1 to December 31, or it can differ based on a company's specific operational cycle, beginning and ending on different dates. The fiscal year is used for financial reporting and budgeting, allowing businesses to assess their performance and financial position annually.


Every business need to choose an annual accounting period that for how long?

Most businesses choose to run there annual accounting according to a standard fiscal year of January 1st to December 31st. However, a business annual accounting period can start and end whenever it wants to.


Every business needs to choose an annual accounting period that goes for how long?

Most businesses choose to run there annual accounting according to a standard fiscal year of January 1st to December 31st. However, a business annual accounting period can start and end whenever it wants to.


What is accounting period concept?

Accounting period is the minimum time period for which comany prepare it's books of accounts.


Accounting period concept?

account period accounting period depends on the person carrying the business. Normaly it starts from 1st april. people may have calendar year as an accounting year.


Does The cash basis of accounting commonly results in financial statements that are not comparable from period to period?

Cash is the main transaction in an accounting , it will affect from period to period in financial statement


What called The value of sales made during an accounting period reduced by returns discounts and other reductions?

The value of sales made during an accounting period, reduced by returns, discounts, and other reductions, is referred to as "net sales." Net sales provide a clearer picture of a company's actual revenue generated from its sales activities by accounting for these deductions. This figure is important for assessing a company's performance and profitability over a specific period.


What is time interval concept?

In Accounting, also known as the Accounting Period Concept. Where business operation can be divided into specific period of time such as a month, a quarter or a year(accounting period) Final accounts are prepared at the end of the accounting period ie one year. Internal accounts can be prepared monthly, quarterly or half yearly.


Is accounting staff salary a period cost or a product cost?

Accounting staff are considered executive costs which would be a period cost.


What is accounting period conversation?

An accounting period refers to the interval between two points in time during which the financial activity of a business is measured.


What factor has the greatest effect on the period of a pendulum?

The length of the pendulum has the greatest effect on its period. A longer pendulum will have a longer period, while a shorter pendulum will have a shorter period. The mass of the pendulum bob and the angle of release also affect the period, but to a lesser extent.